Ledger Nano S and MyEtherWallet = LOVE

Alright, folks! Hope you are all well and happy!

I am kind of both if not taking in consideration that I’ve drunk too much coffee over the evening and now I’m sleepless.

Well, why not better use this time to continue to share with you my adventures using my new Ledger Nano S?

Before going any further I would like to mention that I’m not a trader nor a person from who to take investment advice, but now, at the moment when I'm writing this I have an interest in Rakugo. It's a small one, as you will see if reading till the end, but I think is correct to mention it since the beginning.

To give a bit of context, I will say that these days there are a lot of ICOs going out there for a lot of projects, some of them with the potential to bring a nice ROI on a long run.

Some of them will bring ROI while many others will probably won’t survive.

Do your own research and analysis before investing, invest only what you can afford to lose, and do not take a decision solely by the information that comes from one source.

Returning to our story, most ICOs are using Etherium network, so in terms of investing in one of these ICOs an Etherium wallet is needed.

As far as I’ve seen, most of ICOs are recommending MEW
and since my new Ledger Nano S is supported by MEW I wanted to try it out and see how it goes end-to-end.

In order to connect my Ledger to MEW I found it useful to follow the instructions from here . I’ve hit the Like button and subscribed, so please do the same if you find this guy's video helpful as well.

Now, I had a small problem.

My Ledger was connected to my wallet but no transactions were made so far, so I’ve started by buying some Ether.

I’m using Bittylicious as my favorite place to buy crypto due to the fact that I’m located in UK so it comes with a reliable and fast FIAT transfer between the sellers and buyers.

I’ve used Bittylicious before but this was the first time when I was sending to my Ledger connected to MyEatherWallet.

The average time to complete a transaction from the start when I’ve submitted my buying request on Bittylicious, passing through processing my payment to the seller, and the moment when I had my ETH in MyEatherWallet was around 10 minutes.

And since I’m interested in investing for 3-4-5 years and I’m not into daily trading is obvious that I have a high degree of interest in today’s ICOs that are active out there.

To summarize, at this stage I had a secure Ether wallet, some Ether to spend, and all that I had to do was to filter through dozens of ICOs and choose one that gains my trust.

This requires to search for information, and ideally the source of information to come from an independent entity, and also the more sources you’ve got for a particular subject under investigation the better.

Nowadays there are good people out there that they’ve started to provide condensed reviews over trending ICOs, which saves time.

For my researches, I’ve used https://coins.best/ico-reviews/

Guess at what ICO I’ve looked first?

Yes, Rakugo it was!

Once I’ve read the above article I’ve moved to this one and then I’ve dived in reading the Whitepaper.

Besides the business model and the product's features, one thing that I’ve liked about Rakugo’s ICO was that there is a maximum cap limit for the invested amount which keeps the tokens sale nicely spread between many small investors while the big wales looking for a quick flip remain outside the game. I consider this as a must for any ICO that wants to develop a strong community around it so it can draw energy for future development and success.

Then looked through google to find team members profiles. Checked! All good here. LinkeIn links are available on rakugo for each team member.

Next step was to test the responsiveness of the Rakugo's team at community requests.

Here I must say that I had the pleasure to discuss with Brendan, one of the co-founders of Rakugo, on the Slack channel and a bit later on Telegram where I’ve found a nice and strong community.

Below a screenshot with the Rakugo’s Telegram moderators being active at an hour when most of the people are sleeping sound. I consider this to be a sign of commitment, which I didn’t see in some other ICOs communities analyzed in the previous weeks.

For any question I had, Brendan, Conrad and Wyatt provided a clear and straightforward answer.

The next thing I did was to follow the instructions provided on Rakugo web site and complete the transaction of sending Ether to the ICOs address.

The RTK tokens are minted immediately and are to be seen in the wallet usually in a couple of minutes.

Since was the first time I was adding a token to MyEtherWallet I did a mistake. When the wallet is unlocked there is a form that looks as below:

What I did wrong was to input 0 on Decimals instead of 18 as it should and because of that, the number of tokens that I had was wrongly displayed.

Although my problem was related to my wallet and nothing to do with Rakugo, with the help of Wyatt over Telegram I’ve managed to find the solution and delete the previously added custom token and fill up a correct form which fixed the way my tokens were displayed.

And now I’m the happy owner of a small piece of the future.

Thanks for reading!