Note that is simply a placeholder for the actual wallet name. If you, for instance, want to name your wallet `MoneroWallet`, the command would be as follows:
- The Ledger will ask whether you want to export the private view key or not. First and foremost, your funds cannot be compromised with merely the private view key. Exporting the private view key enables the client (on the computer - Monero v0.12.2.0) to scan blocks looking for transactions that belong to your wallet / address. If this option is not utilized, the device (Ledger) will scan blocks, which will be significantly slower. There is, however, one caveat. That is, if your system gets compromised, the adversary will potentially be able to compromise your private view key as well, which is detrimental to privacy. This is virtually impossible when the private view key is not exported.
- Your Ledger Monero wallet will now be generated. Note that this may take up to 5-10 minutes. Furthermore, there will be no immediate feedback in the CLI nor on the Ledger.
- You need to install the Ledger Monero app and configure your system. Instructions can be found [here](https://github.com/LedgerHQ/blue-app-monero/blob/master/doc/user/bolos-app-monero.pdf) (sections 3.1.1 and 3.2.2 in particular). In addition, make sure to set the network to `Mainnet`
- Note that the instructions for system configuration (section 3.2.2) on Mac OS X are quite elaborate and can be perceived as slightly convoluted. Fortunately, tficharmers has created a guide [here](https://monero.stackexchange.com/questions/8438/how-do-i-make-my-macos-detect-my-ledger-nano-s-when-plugged-in) that you can use for assistance.
