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re: Official CryptoTalk Thread
Posted on 12/13/18 at 5:23 pm to RATeamWannabe
Posted on 12/13/18 at 5:23 pm to RATeamWannabe
Rookie Question: I just setup my nano ledger and transferred a small amount from the exchange. Everything looks good. When my physical ledger is not plugged in, the ledger live app still shows my balances. I assume it's just displaying the last balance it saw. I guess what i'm trying to make sure of is, how to I determine if my crypto is stored locally to the device and not in ledgers online system. Please forgive my ignorance as i'm not sure how it works behind the scenes. TIA
1
Posted on 12/20/18 at 12:00 pm to pcolatiger28
quote:
how to I determine if my crypto is stored locally to the device and not in ledgers online system
Ledger stores zero crypto . Only thing ledger nano stores is your private keys to access it in whatever wallet you stored the crypto in. Im not sure where you sent it so I cant say where its at but its not in the ledger . Heres an example . If you have an ERC20 token and use MyEtherwallet and you send crypto to MEW its stored on the ETHER blockchain - MyEtherWallet is your way to access the blockchain and your ledger nano stores your private key to access your crypto through MyEtherWallet .
Confused yet lol . Dont be . Whatever wallet your using is where the crypto is and the ledger stores your private keys to access it .
This post was edited on 12/20/18 at 12:04 pm
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