Trade using Ledger Nano S or Nano X on DeversiFi

Important: You must upgrade your Ethereum App via Ledger Live to version 1.2.13 or higher in order to access DeversiFi with your Ledger Nano S device. The software for the Ledger Nano X will be available in July.

For troubleshooting Ledger issues, please see the end of this article

Don’t have a ledger yet? Get yours here

Connecting 

Connect and unlock your Ledger

Connect your Ledger device to your computer using USB.

Enter the 4-8 digit pin code you’ve selected when setting up your device

Selecting an Ethereum app

Use the buttons on the top of your Ledger device to navigate to the Ethereum app

Onboarding

Open onboarding and select Ledger

Connecting a wallet

Your browser might prompt you to select a USB device from a list of connected devices. (Chrome)

Choosing a derivation path

Select a derivation path from the dropdown menu to access your wallet addresses. The options are Legacy / Live / Custom.

For older devices, your addresses might be encoded using Legacy derivation path. For newer devices, the address is usually encoded by ‘live’ derivation path. If you can’t see your address in the list of the derived addresses, select alternative derivation method.

How to work with custom derivation path

Authenticating the user

You will be asked to sign an authentication message during the onboarding. This allows the platform to see your balances, so you can successfully complete the onboarding.

Depositing tokens

Set up deposit

Select tokens you want to deposit for trading and specify their amounts.

We recommend leaving at least 0.025 ETH in your private wallet to be able to withdraw your funds from the exchange later on.

Deposit transactions

Deposit process consists of several separate transactions. For a first time user those are registration, approval of tokens for trading (except of ETH) and the deposit transaction itself.

Note: Consecutive deposits of tokens that you’ve previously traded on DeversiFi from a certain wallet become considerably easier, because the only transaction you need to confirm is the deposit itself.

Confirming Transaction settings

We have made it easy for you to set up the transaction settings. Most of the users will stick to the regular preset, or choose it’s fast, or cheap alternative. You can also set up custom transaction settings by checking the ‘custom transaction settings’ checkbox and editing the transaction settings.

Registration

Registration is a one time transaction required only for the very first time you connect an address to DeversiFi. Check your device and confirm the transaction.

Note: If you get a registration error, please double check that your Ledger’s firmware and ETH app are up to date.

Approval

Approval is required to enable trading of the token on DeversiFi. You will only be asked to approve tokens the very first time you deposit them from your wallet. Check your Ledger to confirm the transaction.

Note: You do not need to approve ETH. Approval is only related to ERC-20 tokens, such as USDT.

Deposit

When a deposit transaction is processed, the desired token becomes available for trading on your exchange balance. Check your Ledger to confirm the transaction.

Trading

All trading related operations are managed via messages. That is a big benefit as you don’t need to pay gas fees, nor wait for the transaction to get submitted on-chain. All messages are confirmed via your Ledger device.

Placing an order

Once you set up your order, you will be prompted to confirm it’s submission via your Ledger device. Simply confirm the message and your order will be immediately placed.

Canceling an order

If you wish to cancel your order, simply navigate to the ‘orders’ widget, click ‘cancel’ and then confirm the cancellation message on your Ledger device.

Withdrawal

A withdrawal happens in two simple steps, first of which is confirmed by signing a message and the second is confirmed by signing a transaction.

A withdrawal is requested through the balances widget, where you specify which tokens you wish to withdraw from the exchange to your private wallet. Withdrawal request is confirmed by signing a message on your Ledger device.

Once the withdrawal request has been processed, you will be able to initiate a withdrawal transaction through the Withdrawals widget. An on-chain transaction will be submitted after you confirm in on your Ledger device.

The funds will become available in your Ledger wallet as soon as the on-chain transaction is processed.

Ledger support: Installing & updating apps on your Ledger device (note: you must have Ledger Live installed on your computer to be able to manage apps on your Ledger device)

TroubleShooting

My Ledger Nano S does not connect to DeversiFi

1.  Make sure that the 'Allow contract data' option on your Ledger is enabled
2. Try using Chrome or Brave, instead of Firefox
3. Make sure that you have updated your Ledger with the latest version of the Ethereum App by updating via the Ledger Live software: