Ledger Live Wallet®® — Interactive MCQ guide for setup, security, and everyday use

Quick interactive multiple-choice questions to help you learn Ledger Live Wallet setup, recovery phrase handling, security best practices, and transaction basics.

Ledger Live Wallet — MCQ Practice (click an option to reveal)

There are 10 multiple-choice questions below (approx. 500 words total across questions & explanations). Try answering, then click an option to reveal the correct answer and short explanation.

1. What is the PRIMARY purpose of Ledger Live?
A. Mine new cryptocurrencies using Ledger hardware
B. Manage, send, receive and track your crypto portfolio with hardware wallet integration
C. Provide custodial storage of user funds on Ledger servers
D. Enable anonymous peer-to-peer exchanges inside the app
Answer: B — Ledger Live is a companion app for Ledger hardware devices to manage accounts, transactions and portfolio data locally, not custodial or mining software.
2. Where should you store your 24-word recovery phrase?
A. In a photo on your phone for easy access
B. Typed into cloud notes so you can retrieve it anywhere
C. Offline on secure, physical media (metal or paper) kept private
D. Shared with a friend to help remember
Answer: C — The recovery phrase must remain secret and offline. Use tamper-resistant storage and consider multiple secure locations.
3. How does Ledger Live verify the authenticity of a transaction?
A. By requiring you to confirm details and sign on the connected Ledger device
B. By uploading your private key to Ledger servers for verification
C. By using biometric unlock on the phone only
D. By automatically approving small transactions without confirmation
Answer: A — Transactions must be reviewed and approved physically on the Ledger device, which holds the private keys securely offline.
4. What is a recommended step after installing Ledger Live for the first time?
A. Enter your seed into an online backup service
B. Share your recovery phrase with customer support
C. Enable auto-send features without confirmation
D. Verify firmware & app integrity and back up your recovery phrase offline
Answer: D — Always verify firmware, register device conditions, and back up the recovery phrase securely and offline before use.
5. If Ledger Live shows an unexpected account balance, you should:
A. Immediately send funds to an unknown address
B. Reconnect the device, check firmware, and verify transaction history on a block explorer
C. Reinstall the OS on your computer first
D. Post the balance to social media asking for help
Answer: B — Troubleshoot locally, verify with official sources/ledger docs and check transactions on-chain; never share private data publicly.
6. Which of these is TRUE about Ledger Live updates?
A. Updates may include new app support and security improvements and should be verified
B. You can skip firmware updates forever with no risk
C. Ledger Live auto-applies updates to your seed phrase
D. Third parties should manage updates for you
Answer: A — Keep Ledger Live and device firmware updated, but verify update sources and follow official instructions carefully.
7. When sending crypto, what should you ALWAYS confirm?
A. That the gas fees are zero
B. That the sending address is hidden
C. The destination address, coin type, and amount on the device screen before approving
D. That the device auto-approved the transaction
Answer: C — Always verify all transaction details on your Ledger device display before signing.
8. What is a safe practice for firmware updates?
A. Accept updates from random links in forums
B. Use Ledger Live's official update flow and confirm on-device
C. Share update files with friends
D. Skip update verification
Answer: B — Only use official update mechanisms and verify prompts shown on your hardware device.
9. How should you respond if someone asks for your 24-word phrase to "help recover your wallet"?
A. Give it if they seem trustworthy
B. Type it into their website for convenience
C. Share over a messaging app for a backup
D. Never share it — Ledger or support will never ask for it
Answer: D — Never share your recovery phrase. Legitimate support will never request it.
10. Best approach for learning Ledger Live features?
A. Read official docs, practice on small amounts, and use testnets where possible
B. Trust random social posts only
C. Use unverified third-party installers
D. Skip reading and explore risky features
Answer: A — Use official resources, take small steps, and verify everything. Practice on small sums first.