You will want to take your ALGOs off any exchange and into a wallet that is able to be used for governance (see Q17 below). I prefer the iOS Algorand Wallet, it’s the best mobile wallet I’ve used.
The first sign up period is Oct 1-15, with a second governance taking place mid-Dec thru end-Dec (prob Dec 15-31).
Below are some of the top questions, imo. You can find the full FAQ here
Note Q18. I have a ledger nano x and it’s connect to the iOS Alogrand Wallet. I believe this will be okay no problem for governance.
Q12: Is everyone who holds Algo tokens automatically signed up to Community Governance?
No, Algo holders are not automatically signed up to Community Governance. Algo holders will need to go to the Governance web portal (which will be available on Oct 1st) and declare how many Algo tokens they will commit to each Community Governance period. To participate, governors will have to sign a transaction to signify their commitment. The Governance web portal can be used to generate a transaction of the right format. A signed transaction to this effect will be required to participate, which you can create via the Governance web portal.
Q13: Do I need to provide any identification (KYC) to participate in Community Governance?
No, there are no requirements to do so.
Q17: Can I use any wallet to participate in Governance?
Yes. AlgoSigner, MyAlgoWallet, and the Official Algorand Wallet will be the easiest to use but any wallet which includes a notes field will also facilitate participation in Community Governance.
Q18: Will participation in governance be available using a Ledger Nano device? Will I be able to stake using my Ledger device?
You can use your Ledger device to participate in Community Governance with any wallet that has Ledger integration with support of a transaction notes field. If using Ledger Live, you will not be able to participate as LL does not support a transaction notes field.
Q19: I have an account with an exchange. Will major exchanges facilitate participation in Community Governance?
With exchanges you do not have your own wallet address. Exchanges will have different policies on how to participate and you will have to check the respective exchange policies for more information.