Locating Ethereum (or ERC20 Tokens) from your Ledger Nano in MyEtherWallet (Vintage + New interface)

So I’m just do a super quick explainer
on some issues you might run into if you’ve been using a ledger wallet for a
while particularly if you are using the old ethereum chrome app or something
like that and you’ve now moved on to ledger live or perhaps you started on
the ledger app and then move to MyEtherWallet and found yourself struggling to
find coins and addresses and things that you were sure you had and maybe you were
using in the past but anyway and essentially what I want to do is just I
guess demonstrate what this article on github is about and essentially if you
have a look at it you’ll see that this is someone making a comment that ledger
live uses a different style to derive it’s ethereum addresses and that’s
all well and good but it can mean that you might not immediately find your
coins where you think you left them and also just want to show you how to make
sense of some of the options that you’re given on MyEtherWallet and on the new
whether the vintage interface which are most familiar as well as the new one as
well so essentially if you use what I’ve done is actually just create some
accounts on ledger live and we’ve got three accounts we’re going to use that
on there first of all is number zero so it’s a ledger chrome legacy account so
if you just installed the ledger chrome app on you know back before ledger live
and we’re just using that this is gonna be that we’re representing where those
coins will live and fortunately ledger life seems to now find them when you say
add account and just it’ll feel like a legacy bracket behind them I’ve also got
created two accounts using the new ledger live sort of derivation method
and I’ll explain how that works in a sec number one and number two and i’ve put a different ballance in each one just to make them nice and easy to see and to
not get confused in terms of how that’s all going
and I just want to show you how these three addresses both the old ledger
chrome app one and the two ledger live ones correspond to what you’re going to
find in MyEtherWallet if that’s what you’re using so here we go so basically
first of all I thought would just start with this principle again of how these
wallets work in the sense that you’ve got a single seed and all the different
keys are derived from that and what is used to determine what those keys are is
basically this derivation path because if you’ve been hanging around crypto for
a while you’ll see in your wallets these numbers like um for for sixty zero and
in MyEtherWallet originally it had all these options so and that was listed as
ledger ethereum and you can see there there’s
an address the 0.01 ETH and that’s actually the same one as here so this
this ledger Eth is actually probably more correctly should be labeled as you
know ledger chrome app or something like that because it no this is no longer
represents how Ledger’s work if you’re using ledger life so that’s an easy way
to run into trouble but if we actually go to the advanced logs on the account
we can see as well here that the this derivation path of 44 60 0
and then that last letter sorry that last zero corresponds to this spot here
so that would be 0 that would be 1 2 3 as eating committed this last digit but
that’s the derivation path you can see there’s lots address starting with 3 BF
0 3 3 4 I’ve actually got an open in etherscan here as well so you can
see this one 0.001 Eth now if you open the new my ether wallet interface and
select you’ve got a ledger you’ll actually be presented with this choice
here do you want ethereum or do you want ledger live and again
it’s important to note that it’s the default behavior of MyEtherWallet
is for basically the old ledger Chrome App not Ledger Live so you know for this
check box here you might be thinking of what was this mean there’s two separate
coins no this is just two different ways to deal with derivation paths because
again you can see these same numbers and M 44 60 0 and then that one there has
one less as well so if we just select ethereum what that will do is give us
this screen here I sure hope this was close that you can see again the
addresses that it’s getting what would be the original chrome app so there’s
that one starts the ebf zero three three four or the balance of zero point zero
zero one now where things get a bit confusing is if you’re trying to use
like the old my ether wallet interface so like the vintage my wallet interface
which a lot of stuff will still link to then you’re going to need to use some
different derivation paths so firstly and these derivation parts will be based
on how many accounts you’ve added in ledger live so fortunately for you if
you’ve only added one account in ledger life with the new address format you can
just select the derivation path here which is actually says Jax Metamask it has no mention of ledger whatsoever but that’s the ledger live one basically if you’re
just using this old style of MyEtherWallet and you can see there that corresponds
to 0.02 ETH and we can also see I’ve got that one open there in in ether scan
so you could view any token balances and those sorts of things and if we go into
the new MyEtherWallet I’ll just close at the start again from scratch so this
is the standard this is the default interface now this new one and you
select your ledger yes and then we say that’ll appear cuz I
click that so we then said we want ledger live and say next it
to present us with this list of addresses so you can see there again
that’s the one starting with an 8 9 which is the same as this one here
though this is the important thing to note is that how sequential addresses
work in ledger live is not does not correspond to how sequential addresses
work and stuff in my ether wallet so how you’re normal
well it’s less normal in Ethereum but how normal with Bitcoin how things work
is they’ll increment this this last digit here so you can sort of see these
these are explained before so you’d have the derivation path for this first
address is M 44 60 0 and then there’s 0 and then another 0 at the end and for
things like Bitcoin and stuff normally this last digit is the one that would be
incremented but with ledger live they’ve got a
different approach which is that and you’ll notice it’s this third number
here that’s incremented as you change accounts so every account you add
increments this and well sorry that that behavior is fairly normal sort of normal
what I would expect in other systems would be that this is the digit here
that increments as you add accounts and then every address that’s derived is
this one here but ledger have decided this is the one
thing and increment so that’s why things may not behave as you would expect as
you try and go finding other accounts so if we wanted to find say the first
account so instead of just incrementing this digit here we actually have to
increment the second one so if we click that it’ll actually show us you can see
that is the 0.03 ETH so if you’re using the older style of
MyEtherWallet you will have to manually go editing your derivation
paths to correspond to different accounts that you’ve found in the new or
added in the new ledger live the old one pretty much just created one account and
just use that address for everything and again you’ll notice with a Ethereum
unlike Bitcoin it doesn’t just give you a new address every time you hit receive
it’ll essentially just keep you giving you the same one over and over again and
then that’s just to do with the difference of how things like change are
implemented in between Bitcoin in the Ethereum but fortunately MyEtherWallet
is smart enough that they’ve made it so that it when you select ledger live as
your address type will correctly find all of the accounts that you’re wanting
to use so basically yeah this is mostly just about if you’re stuck trying to use
the old my ether wallet interface with ledger live or if for whatever reason
you can’t find your coins in ledger live and they were for an old wallet likewise
if for some odd reason you did select a different derivation path when you had
your when use I guess set up your initial Ethereum wallet so say you
didn’t use ledger live or didn’t use the old Chrome App you know you’ll have to
use that same one to find your address so if you’re unsure the good thing about
or at least what I like about this our old style of my wallet is you can very
quickly click through different derivation paths to try and work out you
know where are your coins in a way that’s not necessarily straightforward
that said again the new ledger live the latest version I was using now it does
seem to do a much better job of finding those old legacy accounts
than some of the early versions of ledger life so there you go that’s good
to know but again the key thing though is that
to be able to spend your Ethereum you can have to find the addresses that you were
using and you’re going to need to know what your derivation path was to be able
to get these addresses out at the other end because again once you’ve found them
then it’s very straightforward just to send them with MyEtherWallet you know
wherever you like so you can just basically find it go yes that was the
right one fantastic let’s unlock our wallet and sweep those funds into a new
address that works natively with whatever wallet you might happen to be
using is so there you go I hope that’s clarified a little bit about how
derivation paths work and how they can be useful to try and find different
coins that you might think you’ve lost or be struggling to get access to so
there you go give us a question I’ll leave a question if you’ve got any other
comments but yeah it’s it’s pretty straightforward once you get your head
around it but yeah definitely not intuitive to start with so best of luck
and yeah let us know how it goes

2 thoughts on “Locating Ethereum (or ERC20 Tokens) from your Ledger Nano in MyEtherWallet (Vintage + New interface)”

  1. do you know wot this means Due to changes in Chrome, U2F timeout issues on web apps like MyEtherWallet may occur. Please ensure your Ledger device runs the latest firmware and reinstall the app in the Manager. Also try updating USB drivers on Windows.

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