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Wallet confirmation with Ledger

Updated over a month ago

General information and notes

  • With a signed message, you prove that you are the owner of a specific Bitcoin address.

  • The procedure described here applies to Ledger – we currently recommend using the web portal.

  • Only use the QR codes and data from your own wallet or from your Coinfinity account—not those from this guide.

  • To make a sale, it is mandatory to add an extended public key (XPUB, YPUB, or ZPUB).

  • None of these steps are necessary for purchases and sales in the Coinfinity in-app wallet.

Automatically add Ledger Wallet

These instructions are helpful if you are using the default account on your Ledger wallet (Native Segwit; derivation path m/84'/0'/0'/0/0). If you are using a different path or, for example, Legacy/Wrapped Segwit/Taproot addresses, please continue with the manual instructions below.

Important information:

  • You do NOT need the Ledger Live app for this process.

  • The Ledger wallet must be connected before you start the process.

  • The Ledger wallet must be unlocked before you start the process.

  • The Bitcoin app must be open on the Ledger wallet before you start the process.

  • If possible, use the Chrome browser to avoid problems.

Step 1 - Login Coinfinity

Log in to the Coinfinity web portal: https://login.coinfinity.co

Once you are logged in, please go to the "My Wallets" tab. If you have already created an in-app wallet, it will already be listed there.

To add and then confirm the external wallet, proceed to step 2. If your external wallet/address is already listed here, go directly to step 3.

Step 2 – Add wallet

At the top of the screen, you will find the "Add Wallet" button. Click on it and then select one of the options listed. It is possible to add hardware wallets or software wallets. You can theoretically add addresses from other exchanges or custodial wallets, but you will not be able to confirm them later.

These instructions refer to the Ledger wallet. Links to the other instructions can be found HERE.

A selection field will open. Select "Ledger" to continue. For "Ledger," we currently recommend using the web portal rather than the mobile app.

The "Confirm your Ledger" window will open. Click on "Continue in the Ledger app" here.

Another window will open where you can select your ledger. Click on your ledger.

After selection, your ledger will be displayed in blue. Click on "Connect" in the lower right corner.

Now follow the instructions on the ledger to sign the message and confirm your wallet.

First, "Sign message" will be displayed. Press the right button on your Ledger to proceed to the next screen. Next, "Path" will be displayed—again, press the right button on your Ledger.

Next, "Message context" will be displayed. Press the right button one last time. "Sign message" will then be displayed again. Sign the message by pressing both buttons on the ledger simultaneously.

A green check mark should then appear in the Coinfinity portal, which means that your address has been signed correctly. Then click on "Continue."

In the next step, give your wallet a name. It is best to choose a name that will allow you to clearly identify which of your devices or programs/apps it is later on.

Also decide whether you want to leave it at this single address or whether you want to store the extended public key (XPUB, YPUB, or ZPUB).

For the best user experience, we recommend adding the Extended Public Key (XPUB, YPUB, or ZPUB). It works for both buying and selling Bitcoin. With each purchase, the Bitcoin is then sent to a new address, which can be helpful for privacy reasons.

If you want to do this, click on "Request XPUB from Ledger" and the XPUB will be pulled automatically.

Alternatively, you can also use just the single Bitcoin address. This only works for purchases and savings plans, and the same address will then be used for all transactions. If you want to do this, you can simply end the process by clicking on the small "x" in the top right-hand corner.

Once you have clicked on "Request XPUB from Ledger," the extended public key should be inserted into the Coinfinity portal. All you have to do now is click on "Save." You have now added and confirmed the wallet.

After successfully signing your wallet, you will see all your signed wallets or addresses listed in the "My Wallets" menu. You can now choose from the confirmed wallets/addresses for each purchase.

Add Ledger Wallet manually

These instructions are helpful if you are using a specific derivation path or, for example, legacy/wrapped Segwit/Taproot addresses in your Ledger wallet. If you are using the default account on your Ledger wallet (Native Segwit; derivation path m/84'/0'/0'/0/0), please continue with the automatic guide.

Important information:

  • You will need the Ledger Live app for this process.

Step 1 - Login with Coinfinity

Log in to the Coinfinity web portal: https://login.coinfinity.co

Once you are logged in, please go to the "My Wallets" tab. If you have already created an in-app wallet, it will already be listed there. If you want to make a purchase or sale using this wallet, you do not need to follow the next steps.

To add and then confirm the external wallet, proceed to step 2. If your external wallet/address is already listed here, go directly to step 3.

Step 2 – Add wallet

At the top of the screen, you will find the "Add Wallet" button. Click on it and then select one of the options listed. It is possible to add hardware wallets or software wallets. You can theoretically add addresses from other exchanges or custodial wallets, but you will not be able to confirm them later.

These instructions refer to the Ledger wallet. Links to the other instructions can be found here: LINK

A selection field will open. Select "Other Wallets" to continue. For "Ledger," we currently recommend using the web portal rather than the smartphone app.

In the next step, give your wallet a name. It's best to choose a name that will allow you to clearly identify which of your devices or programs/apps it is later on.

Also enter either your extended public key (XPUB, YPUB, or ZPUB) or a single Bitcoin address, then click "Continue." We will describe how to do this in the next section.

For the best user experience, add an extended public key (XPUB, YPUB, or ZPUB). It works for both buying and selling Bitcoin. With each purchase, the Bitcoin is sent to a new address, which can be helpful for privacy reasons. PLEASE NOTE: We do not currently support Taproot addresses, but we are working on offering this as soon as possible.

Alternatively, you can also use a single Bitcoin address. This only works for purchases and savings plans, and the same address is then used for all transactions.

Option A) Add extended public key (recommended)

Open the Ledger Live app and connect your wallet to it. First, check whether updates are available for the app and the Ledger wallet and install them. Only continue once everything is up to date. Once the wallet is connected and unlocked, select the account (b) you want to confirm under "Accounts" (a) in the Ledger Live app.

Open the Ledger Live app and connect your wallet to it. First, check whether updates are available for the app and the Ledger wallet and install them. Only continue once everything is up to date. Once the wallet is connected and unlocked, select the account (b) you want to confirm under "Accounts" (a) in the Ledger Live app.

You must now copy the entire extended public key as a character string (f). Be very careful not to copy too many or too few characters. The easiest way to do this is to double-click on the character string and then copy it to the clipboard (g).

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You must now copy the entire extended public key as a character string (f). Be very careful not to copy too many or too few characters. The easiest way to do this is to double-click on the character string and then copy it to the clipboard (g).

After you have correctly entered the extended public key, click on "Continue" in the Coinfinity portal.

You can now leave it at that and only store the extended public key by clicking on "Confirm later," or proceed directly with confirming the wallet by going to step 3.

If you decide to "Confirm later," go directly to step 4 – Security approval via email.

You can now close the "Edit Account" field in your Ledger app.

Option B) Add an individual Bitcoin address

Open the Ledger Live app and connect your wallet to it. First, check whether updates are available for the app and the Ledger wallet and install them. Only continue once everything is up to date. Once the wallet is connected and unlocked, select the relevant account (b) from which you want to confirm an address under "Accounts" (a) in the Ledger Live app.

You now have the option to either generate a new address to be confirmed later i), or use an address that has already been used ii). Choose one of the two options and skip the other paragraph.

i) To use a new address, click on "Receive" (c) at the top of the account overview, then follow the instructions in the Ledger Live app (d) to display the Bitcoin address. The address will then be displayed as a string of characters and alternatively as a QR code (e).

ii) To use an address that has already been used, scroll down in the account overview to see your previous transactions (f). Open the transaction whose address you would like to confirm by clicking on the transaction (g). A small window will open on the page showing some details about the transaction. One of the pieces of information displayed there is "To," which is the recipient address (h). You can copy this to the clipboard by clicking on the "Copy" icon (i).

As discussed, the address is displayed as a QR code and/or in the form of a character string. You must either scan the QR code from another device (for example, with your webcam or a smartphone) or copy the address by clicking on the "Copy" icon.

Now you must either click on the QR code logo in the Coinfinity portal and scan the code in some form, or paste the character string from your clipboard. If, for example, you need to transfer the text from your smartphone to your PC, transfer the text to your computer: by emailing it to yourself, via WhatsApp Web, or using Apple Handoff (for Apple devices).

Once you have entered the address correctly, click on "Continue" in the Coinfinity portal.

You can now leave it at that and just save the address by clicking on "Confirm later," or proceed directly with confirming the wallet by going to step 3.

If you decide to "Confirm later," go directly to step 4 – Security approval via email.

You can now close the field with the Bitcoin address in your Ledger Live app.

Step 3 – Confirm wallet or address

You will reach this step either after adding an address or an extended public key in the Coinfinity portal in the previous step 2 and now want to confirm it, or if you want to confirm a wallet that has already been added.

You will see a random 10-digit string of characters. This is the "message" that you now need to sign using the first address of your wallet. Copy this message or simply write it down for later use. It is important that you do not make any mistakes here. The message consists exclusively of lowercase letters and numbers, with no spaces.

To confirm your wallet and assign it to you, sign this message with your Bitcoin address or the first Bitcoin address of your extended public key.

Unfortunately, it is not possible to sign a message in the Ledger Live app. Therefore, you will need to download additional software that enables this.

Install Electrum Wallet

Since Ledger Live cannot sign its own messages, we have to resort to the Electrum wallet. We will connect this to the Ledger in order to create the signature.

You can download Electrum Wallet here: https://electrum.org/#download

Find the right version for your operating system, download it, and install it.

Connecting Ledger

1. Connect the Ledger to your computer (do not open the LedgerLive app). Open the Bitcoin application on the Ledger.

2. In the Electrum installation wizard (File > New), enter any name for the wallet and click Next (a).

3. Select "Standard Wallet" and click Next again (b).

4. Select "Use a hardware device" (c) as the key storage location. Then continue.

5. Your Ledger should be displayed there. After selecting it, you must unlock the hardware wallet with your device password and start the Bitcoin app (d). Then continue.

6. Next, we need to check the derivation path. This depends on your subaccount (e). In the screenshot, you can see the derivation path when using the default account (m/84h/0h/0h). Check this.

First, select the address type of your relevant sub-account at Ledger. This can be of the type "legacy," "segwit," or "native-segwit." If you are unsure, open the LedgerLive app again (f). Your previously selected Bitcoin sub-account has one of these labels.

The second important part is the third number of the derivation path. For example, if you use the fourth sub-account on your Ledger for Coinfinity, you must change this to a 3. If you use the default account, the last number remains a 0. If you are unsure, check the XPUB details in your LedgerLive app to see what the number is for the "index" value (Edit account > Advanced) (g). See also image (d) under "Option A) Add extended public key (recommended)".

So, for example, if it is the fourth "native-segwit" Bitcoin sub-account on your Ledger, the derivation path would now be "m/84´/0´/3´". Before you click “Continue”, check again that the Bitcoin app is still actively open on your Ledger hardware wallet.

7. Before completing the setup (h), you can decide whether you want to encrypt the wallet file. If so, you can set a password. But don't worry, the private key for your Ledger wallet is not stored on your computer; it remains stored exclusively in the wallet.

Sign message

1. To sign, you must first activate "Addresses" (b) under "View" (a) in the program menu—a new tab with addresses will appear in the bar.

2. Switch to the Addresses tab (c).

Important: If you selected the extended public key in "Step 2 – Add wallet," right-click on the first address. Select "Sign/verify message" (d).

However, if you selected a single Bitcoin address (Option B), right-click on the selected address. Select "Sign/Verify Message" (d).

3. A window will open (e). In the "Message" field, you must now enter the 10-digit message from the Coinfinity portal. Copy it or simply write it down. Paste the text into the message text area in the Electrum dialog and click Sign (f). Make sure that the Ledger is not in standby mode. Confirm the signature on your Ledger. A long string of characters will now be displayed in the "Signature" field (g). This is the signature you must enter in the Coinfinity portal to confirm your wallet/address.

4. Copy the signature that now appears in the "Signature" window (g) and paste it into Coinfinity. To do this, copy the entire string and make sure you paste it correctly into the portal. Please do not write down this character string, as this is too prone to errors. Transfer the text to your computer: by email to yourself, via WhatsApp Web, or with Apple Handoff (for Apple devices).

After adding the signature in the Coinfinity portal, click on "Confirm." If everything went well, your wallet or address is now created under "My Wallets" with the label "Confirmed" and can be used.

If you see an error message ("Please enter a valid signature"), there was an error in one of the intermediate steps. What can happen?

  • It is possible that you copied or transcribed the 10-digit message incorrectly.

  • It is possible that an error occurred when copying the signature.

  • It is possible that you signed the message with the wrong Bitcoin address.

In any case, try again and make sure you can definitely rule out all errors.

Step 4 – Security clearance via email

After you have added your wallet—regardless of whether you sign it immediately or add the signature later—we will automatically send you an email with a six-digit confirmation code.

ATTENTION: This verification is required for every external wallet you register with Coinfinity. You cannot use the wallet without entering this code.

The code is valid for 10 minutes. Before entering the code, you must confirm that the wallet is a self-hosted wallet. To do this, check the box in the interface.

Then enter the six-digit code from your email into the input field.

Click "Add Wallet" to complete the process.

After successfully signing and confirming your wallet, you will see all signed wallets or addresses listed in the "My Wallets" menu. For each purchase, you can now choose from the confirmed wallets/addresses.

IMPORTANT: If you interrupt the code entry process, the wallet will still be displayed in your overview, but will remain listed as "Waiting for code."

If you decide to use the wallet a little later, you will have to request a new code, as the original one will have expired after 10 minutes.

If you receive an error message during the process, check the code or request a new one if necessary.

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