Ledger has provided detailed instructions for setting up the Nano S on their website. A video demonstrating setting one up is below:
I am seeing the following image when trying to import my Ledger Nano S into Lily Wallet. How do I fix this?
This error is usually because the Bitcoin app isn't open on the Ledger device. Make sure that you select the Bitcoin app on the Ledger device. It may also be caused by a faulty USB cable. Try unplugging and plugging the device back into your computer. If that doesn't work, please reach out to our support team.