How to send ERC20 tokens
Sending ERC20 tokens using Ledger, as well as receiving them, is a bit more complicated process than sending Bitcoin or Ethereum.
To send these tokens to someone, you have to use MyEtherWallet. Fortunately, the first few steps are identical to what is done when receiving tokens.
How to send ERC20 tokens with Ledger Nano S
Step 0. The standard first step is to connect the Ledger to the computer and enter your pin code.
Step 1. Open the Ethereum application on Ledger Nano S. If you do not have this application, download it from Ledger Manager.
Step 2. On the Ledger screen, go to Settings, select Browser Support, set to “Yes”.
Step 3. In a web browser, open MyEtherWallet. It’s better to enter the URL manually at each visit, so as not to fall for phishing.
Step 4. Click “Send Ether & Tokens” at the top of the page.
Step 5. Select “Ledger Wallet” and click “Connect to Ledger Wallet”.
Step 6. After that, a pop-up window will appear with options for derivation paths (HD derivation path) and addresses.
For the derivation path, select “Ledger (ETH)”. Select the address where the coins to be sent are stored.
Step 7. Click the “Unlock Your Wallet” button.
Further, the process differs from receiving
Step 8. On the next page, enter the recipient’s address and the amount you want to send.
Step 9. From the drop-down list, select the token you want to send. If you cannot find your token, follow a few additional steps (9.1-9.4).
Step 9.1. Scroll down to the “Token Balances” section, which is on the right side.
Step 9.2. Click “Show all tokens“.
Step 9.3. Find the token you want to send and click “Click to Load”.
Step 9.4. Now you can see the balance of this token directly in MyEtherWallet, and the token itself should appear in the drop-down list in the sending section.
Step 10. Set the gas limit for your transaction. By default, MyEtherWallet sets a different limit for each transaction. We recommend using the default value – it is highly unlikely that the entire amount will be used in the transaction.
Note: Ethereum is used to pay for gas. If there is not enough ether in your wallet to cover this amount, the transaction will fail.
Step 11. If you have not already done so, go to Settings – Contract data in Ledger Nano S and set the value to “Yes”. This will allow you to make transactions not only with Ethereum, but also with ERC20 tokens.
Step 12. Click the “Generate Transaction” button. Ledger will require you to confirm the amount and address of the recipient, as well as the size of the commission.
Step 13. If everything is fine, confirm them using your Ledger wallet.
Step 14. After that, MyEtherWallet will show you the Raw Transaction and Signed Transaction data. The recipient address is in the Signed Transaction data.
Step 15. Click the “Send Transaction” button, after which a pop-up window with details will appear.
Step 16. Verify that the data at the bottom of the pop-up window is correct. If everything is ok, confirm the transaction.
Step 17. Click on the “Etherscan” link on the right side of the page to check the transaction status.