Hi Gary Cruz here, for those new to my channel, I make crypto tutorials for every day people.
Ever since I created the tutorial on how to buy Ripple with Coinbase, I’ve been getting a few alt coins from the Binance Referral system. One of the popular ones is Cindicator. On a side note, looking at my referrals gives me a good idea on what people are buying. I don’t want to keep these on binance since it’s a bad idea in general to keep coins on an exchange, so I will move them to my Ledger. Since this will be my 1st time moving Cindicator to my Ledger, I figured I’ll make a video for those who may be wondering how to do it too. Remember, if you don’t have the 24 word passphrase to your Cindicator wallet, you risk losing your tokens. If you have any questions, please leave them in the YouTube comments below. I try to respond to all questions asked. In return, please subscribe to my channel if you are interested in this type of content.
In doing my research on these alt coins, many of them use the ERC20 Token standard which works on the Ethereum network. Since Cindicator is an ERC20 token, we can just send them directly to your Ethereum address. Since the native Ledger app only displays Ethereum, you’ll have to use https://ethplorer.io to view your tokens. If you want to send your tokens, you can use https://www.myetherwallet.com (MEW)
What’s the difference between Ethereum and Tokens?
The best analogy is to think of Ethereum as the computer and the ERC tokens are the programs that run on the computer.
If you just got a Ledger Nano S, you might want to start with the FAQ on the top right and in my description.
In my other videos, I said that you technically don’t store any coins on the Ledger Nano S. All your coins will be on the blockchain. The Ledger Nano S just holds your private key securely and can sign the transactions. Your wallet is in the cloud. All MyEtherWallet and the Ledger Wallet apps do, is provide an interface to it. Just like your email clients provide an interface to your email in the cloud.
Open your Ledger, and navigate to the Ethereum wallet and get your Ethereum address
Then go to binance
Click Funds
Click Deposits and Withdrawals
Search for Cindicator
Click Withdrawal
Click Dropdown Arrow
Click Use new address: double check because of virus. If you use the wrong address, there is no way to retrieve it.
Click Max
Click Submit
If you want to send tokens, you will need to use https://www.myetherwallet.com sometimes referred to as MEW
It has more features than the Ledger client and can view all your ERC20 tokens.
Keep in mind that this is a little more for the advanced users and please use this as a guide and not rely on this video as your only source and any actions you take are your responsibility.
TO SEND TOKENS
Go to settings your Ethereum wallet and make sure “Browser Support” is enabled - just remember to switch it back whenever you want to use the Ledger related apps.
MEW does not work on Safari on the Mac so be sure to use the Chrome browser. Do not Google myetherwallet. There are a lot of fake sites. You are responsible for using the right links.
Log into https://www.myetherwallet.com (MEW) and select the “Send Ether & Tokens” tab
Select “Ledger Wallet”
Select the blue “Connect to Ledger Wallet” button
Select the correct ETH address from you wallet - you will notice that this is the same address as the one with the Ledger Wallet Ethereum app. You also don’t need to have your Ledger plugged in to receive any funds because that wallet is on the blockchain.
Select the “Unlock Your Wallet” button
If you have tokens in an account that does not contain any ether you would have to send ether to that account in order to make the transaction to move the tokens from that account. The Ethereum acts as the “contract” for your tokens and you will need it to also pay for gas to transact. I’d recommend to have at least $25 to be on the safe side.
And this concludes the tutorial. Please leave a comment if you were able to successfully transfer your Cindicator from the exchange. How long do you plan to hold it?
And if you think this will be helpful for others, please share this video. If you have any other suggestions on other crypto currency related videos you would like to see, please comment below and smash that subscribe button on the way out. Thanks for watching!
https://www.myetherwallet.com
https://ethplorer.io
Please use my referral links to buy a Ledger Nano S:
Ledger Nano S: http://amzn.to/2ysuRdW
Ledger Nano S Direct: https://www.ledgerwallet.com/r/8d09
Coinbase Exchange: https://www.coinbase.com/join/593e067...
(you and I get $10 when you invest $100 or more)
Binance Exchange: https://www.binance.com/?ref=12781632
If you are feeling generous, please send BTC:
17wTqesDhBaqH8D43BnYYUw9EmDC9HcBp2
Please share this video on Cindicator / Ledger forums on Facebook and Reddit so it can help other newbies.
How Wallets Work:
https://blockchain.info/wallet/how-it-works
Which tokens are supported:
https://ledger.zendesk.com/hc/en-us/articles/115005304449-Which-altcoins-and-tokens-are-supported-by-the-Ledger-products-
Get Started:
https://www.ledgerwallet.com/start
How to use MyEtherWallet with Ledger:
https://ledger.zendesk.com/hc/en-us/articles/115005200009-How-to-use-MyEtherWallet-with-Ledger
Why store it on a ledger since you need the cindicator to use with the bot. Which is the whole purpose of the utility token you bought.
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