This quick guide will help you with setting up your Ledger wallet for the first time in Metal Vault.
The Metal Wallet Is Linked To An Ethereum Wallet
When you enter Metal Vault for the first time, you’ll notice that you have two preconfigured wallets: “My Ethereum wallet” and “My Metal wallet”.
The Metal wallet is linked to an Ethereum wallet under the hood. That's because Metal is an ERC-20 token that resides on the Ethereum blockchain. It carries smart contract information that identifies it as MTL. Therefore it needs a parent Ethereum wallet to cover for transaction fees.
This guide will show you how to create a Metal wallet using your Ledger device. To do so, you’ll first need to create a parent Ethereum wallet.
Step 1: Go To The Create A Wallet Page To Create An Ethereum Wallet
Click on the add wallet button (the “+” icon beside “Wallet”) on the Metal Vault dashboard. You’ll be taken to the “Create A Wallet” page within Metal Vault.
Step 2: Create The Ethereum Wallet
Step 1 asks “Which currency would you like to use?” Select “Ethereum”.
Step 2 asks “What kind of wallet do you want to create?” Select “Ledger”.
In Step 3, enter a name for the Ethereum wallet you want to create on your Ledger. It's good practice to give it a descriptive name to avoid uncertainty later.
Before you connect your Ledger device, make sure you’ve enabled browser support (see this video or tutorial). Otherwise, your Ledger won’t be able to communicate with Metal Vault. Make sure to regularly update the firmware of your device!
Connect your Ledger device to your computer via the USB connector. Once you inserted the pin code, start the Ethereum application on your Ledger, and click on the “Connect Ledger” button. You should see a popup.
The drop-down menu will display multiple addresses; you’re going to select one. If you already have an Ethereum wallet with funds on your Ledger that you want to link to Metal Vault, choose the address that contains the funds.
If this is your first time using the Ledger with Metal Vault, or if you have no funds in your Ledger, you can choose any address from the list; this will be the address of your new Ethereum wallet on your Ledger. When you’ve selected your address, press “OK”, and you will find yourself at your new wallet interface.
The Ethereum Wallet For Ledger Has Been Successfully Created
You now successfully created an Ethereum wallet for your Ledger. The wallet is now accessible from the Metal Vault dashboard.
Follow the additional steps below to create a Metal wallet.
Step 3: Go To The Create A Wallet Page To Create A Metal Wallet
To link a Metal Ledger wallet to your new Ethereum Ledger wallet, click on the “Add Wallet” button again (the + icon) on the Metal Vault dashboard. You’ll be taken to the “Create A Wallet” page once again.
Step 4: Create The Metal Wallet
Step 1 asks “Which currency would you like to use? Select "Metal".
Step 2 asks “Which parent wallet do you want to assign? Select "The Ethereum wallet you just created".
In Step 3, enter a name for the Metal wallet you want to create on your Ledger. It's good practice to give it a descriptive name to avoid uncertainty later.
Finally, click on the "Create Wallet” to complete the process.
The Metal Wallet For Ledger Has Been Successfully Created
You now successfully created a Metal wallet for your Ledger. You can access this wallet from the Metal Vault dashboard whenever your Ledger device is connected.