What Is Ledger Recover And How It Works?

If you lose or don’t have access to your Secret Recovery Phrase, you can use ledger recover pool to restore your crypto wallet on a new or existing Ledger device. You will need an internet connection and a smartphone with a camera. When you need to recover your crypto account, you will need to verify your identity again with your ID card and connect your Ledger device. While this setup makes you enjoy all the benefits of self-custody and complete control over your assets, it also makes you solely responsible for their protection. Ledger Recover is designed for users who want to add an enhanced layer of security in case their Secret Recovery Phrase is lost or when they can’t access it. Ledger Recover allows you to restore access to your own wallet whenever you need it.

A digital backup for your wallet access

With Ledger Nano S Plus, the service is available on desktop only. Ledger Recover is compatible with all Ledger devices (through the Ledger Live desktop and mobile app) and with Ledger Nano S Plus (through the Ledger Live desktop app only). Ledger OS updates can only be performed if you authorize them manually with your Ledger device. We have created this product for these users to feel confident using our products.

Complete your Ledger Recover activation

Now, she helps the Ledger Academy with Editorial Content and SEO. You have 1 year to activate your redeem code from the moment you receive it. You can try to recover access to your wallet up to 3 times per month and up to 10 times per year. With Ledger Stax, Ledger Flex and Ledger Nano X, the service is available on the Ledger Live desktop and mobile app.

Enter a 6-digit backup code

You can read through the Whitepaper here, and the source-code on Github here. Please note that one shard alone, even in the extremely unlikely case of decryption, is useless – you’ll always need at least two of the shards in order to restore your Secret Recovery Phrase. For a complete but less technical dive, you can read our blog series The Genesis of Ledger Recover.

Which documents are accepted for identity verification?

• If you fail to pay the subscription within 7 days, you won’t be able to recover your private keys using Ledger Recover.
• Finish the onboarding to create the digital backup that secures access to your wallet.Redeem the code sent to your inbox to complete activating Ledger Recover.
• Subscription requires a valid passport or national identity card.
• Identity verification inherently collects much less information compared to KYC.
• Updating your OS will not automatically sign you up for Ledger Recover.
• We have created this product for these users to feel confident using our products.
• Ledger Recover can restore your private keys to your device, but it can’t provide you with your Secret Recovery Phrase.

In the end, the choice depends on your personal preference and risk tolerance. These encrypted pieces are worthless by themselves and can only be unlocked by your Ledger device with your ID verification. Ledger also promises to open-source the code for the Recover feature, so users can check the security of the proposed custody mechanism by themselves. Ledger Recover can also help those without a safe place to store their seed phrase.

Are These “Trusted Parties” Trustworthy?

Plus, your Ledger will only allow your seed phrase to leave the wallet as encrypted fragments when you permit it. Setting up Ledger Recover requires you to enter the device PIN and consent to start the process on the device. Without your permission, the device will not (and cannot) fragment or send the encrypted fragments anywhere. That means if someone wants to exploit Ledger Recover to steal your seed phrase, they would need to have your PIN in the first place, which would already give them access to your wallet. To understand the thought behind it, you must first understand who it was made for.

How Can I Start Using Ledger Recover?

There are several measures in place to assure the trustworthiness of Ledger Recover’s trusted parties. You’ll need to identify yourself twice to both Coincover and Ledger’s identity verification providers before you’ll be able to use the service. Furthermore, Recovery requests will systematically go through multiple manual identity verifications by independent agents in addition to automatic AI-assisted recognition. All of these aspects are designed to keep users safe from Recover’s trusted parties becoming compromised.

Redeem your unique code sent to your inbox

Ledger Recover was developed for those who want to back up their wallet access regardless of wherever they are in the world or whatever they’re doing. It’s a completely paid optional service, designed to help users take custody of their assets, no matter their situation. The crypto space can be daunting, especially when it comes to securing your assets. One of the biggest hurdles blockchain technology faces is its accessibility.

Is Ledger Recover available both on desktop and mobile?

Ledger Recover is a convenient and secure backup service for your Secret Recovery Phrase, but it also has some limitations and trade-offs. However, should someone steal your funds using Ledger Recover, Coincover offers users $50,000 in compensation. Self-custody is the golden standard of crypto security and Ledger’s goal is to make it easy to use. In short, this service is all about making self-custody more convenient and less frightening. Your Ledger Recover subscription is officially activated once you have successfully validated your identity and secured your Secret Recovery Phrase backup.

• This happens within the Secure Element chip inside of a Ledger hardware wallet.
• Your identity is under your control, as opposed to social Recovery which relies on another party.
• To make the world of digital assets more accessible to newcomers and bring it into the mainstream, we have to get rid of barriers to entry.
• This means you stay protected, even if your device and the seed phrase go up in flames.
• All of these aspects are designed to keep users safe from Recover’s trusted parties becoming compromised.
• You have 1 year to activate your redeem code from the moment you receive it.
• Plus, your Ledger will only allow your seed phrase to leave the wallet as encrypted fragments when you permit it.
• As a crypto user, you know how crucial it is to keep your Secret Recovery Phrase in a safe and secure place.

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Ledger Recover requires customers to pass an identity verification check. Ledger Recover does not store or access your private keys or your Secret Recovery Phrase. It only creates an encrypted backup of your Secret Recovery Phrase that only you can decrypt with your ID and your Ledger device.

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Yes, even if you lose your Ledger device, you can access your crypto wallet again, provided that you have backed up your seed phrase (also known as the recovery phrase). You can either back up your seed phrase on a piece of paper or use a purpose-made metal crypto wallet backup for additional peace of mind. Ledger Recover is a wallet recovery service offered by Ledger in partnership with Coincover. The idea behind this service is that it allows users to access their wallet even in the event that they lose their seed phrase backup. Currently, Ledger Recover is only available to users who have Ledger Nano X or Nano S Plus wallets. In short, these Hardware Security Modules use similar technology to the computer chips in Ledger devices, but they use servers installed in data centers with more computation power.

Managing Ledger Recover subscription

If one of the companies holding a fragment shuts down, you will still be able to restore your keys until another trusted company replaces it. To make the world of digital assets more accessible to newcomers and bring it into the mainstream, we have to get rid of barriers to entry. On your device, after PIN verification, you’ll be asked to initiate a Ledger Recover backup process. This blog post dives into the technical explanation of how this works.

• Ledger Recover availability depends on the country/region where your identity document is issued.
• To learn more about how we collect and use this information, please read our Privacy Policy.
• You still need to go through the subscription process outlined above to activate your subscription and create a backup for your wallet access.
• That means you can rest assured that your wallet backup is in safe hands.
• Each fragment is then sent to a separate company—Coincover, Ledger, and Escrowtech.
• Each provider holds a fragment of your encrypted backup, which is useless on its own.

Payments are settled in the currency of your country of residence. For example, if you’re based in the United States, you will pay in the US dollar. In the event of a rejected payment, please contact your bank directly.

For any other issues related to credit card payments, reach out to Ledger Recover Support. Currently, you can set up a backup for one Secret Recovery Phrase per subscription.

Finish the onboarding to create the digital backup that secures access to your wallet.Redeem the code sent to your inbox to complete activating Ledger Recover. If you don’t want to update your Ledger OS, your Ledger device will remain functional. However, skipping OS updates will also prevent you from using certain features of the Ledger Live app. This is because some OS updates give your device the tools needed to sign certain types of transactions – for example, by updating your Ethereum withdrawal credentials. If you choose not to update your OS, you will potentially miss out on important security updates.

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Coincover and Ledger store an encrypted excerpt of this data. To learn more about how we collect and use this information, please read our Privacy Policy. One-Time Security Code provides an additional level of security to Ledger Recover. The code will be displayed on the Ledger device that you’re using to recover access to your wallet. You’ll be asked to provide the code during the identity verification process. To restore your keys, you need two out of three fragments that are securely kept by the three independent and trusted companies.

• Ledger Recover requires customers to pass an identity verification check.
• These encrypted pieces are worthless by themselves and can only be unlocked by your Ledger device with your ID verification.
• Restore access to your crypto wallet in case of a lost or out of reach Secret Recovery Phrase.
• This happens within the Secure Element chip inside of a Ledger hardware wallet.
• As a crypto user, you know how crucial it is to keep your Secret Recovery Phrase in a safe and secure place.
• To make the world of digital assets more accessible to newcomers and bring it into the mainstream, we have to get rid of barriers to entry.
• At this point, two of the three parties will send back their fragments to your Ledger device using the same Secure Channel mechanism.

Can you recover a Ledger device without Ledger Recover?

Each fragment is then sent to a separate company—Coincover, Ledger, and Escrowtech. By itself, each fragment does not hold enough information to access your wallet, and at least two fragments are required to recover your wallet. Since cryptocurrency transactions are irreversible, it’s very difficult to recover funds if your crypto wallet gets hacked. This is why ensuring that your crypto remains safe and sound is of the utmost importance. Ledger Recover is a backup service for your Secret Recovery Phrase, which is a series of words that lets you access your crypto wallet.

Ledger Recover is a subscription service that will cost $9.99 per month. To use the service, you must also go through a KYC process with an ID document and a selfie recording. At the end of the episode, you’ll also hear Pascal’s take on the next Bull Market and why Ledger is building solutions for the next 100 millions of crypto users. But for those who want to back up their wallet access, Ledger Recover is the perfect solution.