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Ledger Recover: Understanding everything about the Ledger recovery service
Ledger Recover is a service designed to offer a recovery and recovery solution for the recovery sentence for users of a Ledger device . This service aims to respond to a major problem: the loss or compromise of the Seed Phrase (or secret recovery sentence ), which can lead to the definitive loss of access to a wallet . Here is what you need to know about Ledger Recover , its operation, its advantages, its limits and how to use it concretely.
Table of contents
What is Ledger Recover?
Ledger Recover is a subscription service developed by Ledger in partnership with Coincover, intended to provide a backup for your recovery sentence. This service is intended for users who want an additional safety layer for their wallet and who fear the loss of their seed phrase .
Ledger Recover ™ allows you to restore access to your wallet even if you have lost or forgot your recovery sentence . It is a paid key recovery service Ledger applications and compatible with the Ledger Nano X ™, Ledger Nano s plus ™, etc. If you do not know which model to choose, we invite you to visit our comparative guide Ledger models .
How does Ledger Recover work?
Ledger Recover is based on a secure fragmentation and storage technology of the Seed Phrase . During activation, the secret recovery sentence is encrypted, cut into three fragments, then each fragment is stored by a different entity: Ledger , Coorcover and EscrowTech . Coating and Ledger store part of the Seed Phrase , which guarantees that no entity alone can access the whole key.
Operation steps
1. Ledger Recover ™ identity verification
First of all, the user must go through an identity verification of Ledger . This implies the presentation of an official document (identity card, passport) and a selfie video. This step links the safeguard to your identity, making you the only person to be able to access the safeguard.
2. Fragmentation and encryption
The recovery sentence of your Ledger device is encrypted and divided into three fragments. These fragments are unusable individually, which adds additional security to Ledger .
3. Multi-entity storage
Each fragment is entrusted to one of the three partner companies: Ledger , Coorcover and Escrowtech. Even in the event of failure of one of these companies, it is possible to restore the recovery sentence with the other two.
4. Restoration via Ledger Recover
In the event of loss, you can recover access to your Wallet by passing a new identity verification of Ledger Recover . Once your identity has been confirmed, two of the three fragments are brought together and returned to your new Ledger .
What Ledger devices are compatible?
Ledger Recover ™ is compatible with Ledger Nano X ™ devices Ledger Nano S ™ and the new Ledger Stax and Flex . The service is Ledger LIVE ™ and My Ledger applications . It requires the latest version of the Ledger operating system .
How to use Ledger Recover?
1. Activate Ledger Recover on your Ledger device
Connect to Ledger Live ™ and go to My Ledger .
Ledger subscription option in the Discover tab.
Ledger Recover ™ identity verification procedure .
Validate the creation and safeguarding of your Seed Phrase .
2. Restore access with Ledger Recover
Get a new Ledger or reset your existing device.
During the configuration, choose "Restore with Ledger Recover".
Perform the identity verification of Ledger Recover .
Follow the instructions on the Ledger Live application and validate on your Ledger device using the buttons on your Ledger .
Once the procedure is completed, your wallet and your assets are restored on your Ledger device .
Advantages of Ledger Recover
Increased safety : the seed phrase is never stored in a single place, each fragment is encrypted and held by a separate entity.
Simplicity of use : Restoration is done via a guided procedure on the Ledger LIVE application .
Loss protection : even in the event of loss or destruction of the Ledger device , it is possible to recover access to your wallet .
Covers the loss of the only recovery sentence : useful for those who do not wish to store their seed phrase by themselves.
Flexible subscription : Ledger Recover is available for $ 9.99/month, terminable at any time.
Disadvantages and points of vigilance
Dependence on third parties : even if each fragment is separated, the system is based on confidence towards Coincover and Ledger .
Compulsory identity verification : Ledger Recover identity verification is necessary for each restoration, which can be a brake for those who favor anonymity.
Recurring cost : this is a Ledger subscription , with monthly costs.
Only via Ledger : you will not be able to use Ledger Recover ™ with other wallet brands like Trezor . If you hesitate between Trezor and Ledger , we invite you to read our detailed guide comparing Ledger and Trezor .
No recovery of the physical sentence : the service does not provide the Seed Phrase itself, but restores access to the wallet on a Ledger device .
Frequent questions about Ledger Recover
What will happen to my Ledger subscription if I change my mind?
You can Ledger subscription at any time from the Ledger Live application . If payment is not made for more than 7 days, the catering will be blocked until regularization. After 3 months without payment, the subscription is suspended; Ledger assistance .
Is Ledger Recover ™ compulsory?
No, ledger Recover ™ is not taxed. Each user can choose to store their seed phrase by yourself, or use this key recovery service for an additional safety layer .
Is Ledger Recover sure?
Ledger Recover has been developed to ensure that you are the only person to access your funds. The fragmentation system, encryption, the Element Element chip of the Ledger device , and the identity verification of Ledger Recover ™ ensure robust safety. Coating and Ledger store part of the secrecy, but none can access the whole without your validation.
What are the main use cases?
Loss of your seed phrase
Destruction or loss of the Ledger device
Need to transfer a wallet to a new Ledger device
Technical details and safety
Ledger Recover uses material safety module technology of the Ledger device (the Secure Element chip ) to generate and protect the recovery sentence . During safeguard, the Seed Phrase is fragmented thanks to an advanced cryptographic protocol: two out of three fragments are enough to restore access, which protects against the failure of one of the providers.
The single -use security code is used during restoration, ensuring that only an identity verification of ledger Recover ™ valid allows the return of fragments. The Material Safety Module of the Ledger device will then reconstruct the private key without ever exposing the sentence of secret recovery .
FAQ on Ledger Recover
How does Ledger Recover work?
It fragments, figures and distributes your seed phrase with three separate entities, accessible only via a double identity validation.Can I recover the Seed Phrase by myself?
No, the service does not provide the sentence of secret recovery . It only allows you to recover access to your wallet from a Ledger device .What if I lose access to my wallet and my Ledger Recover subscription is suspended? Ledger
assistance .
Conclusion
Ledger Recover ™ is an innovative service for users who want a backup for their recovery sentence and safety of their Ledger . It is intended for those who want to avoid manual management of their seed phrase while remaining the only person to be able to access their assets. The Ledger Recover service offers a robust solution but involves confidence in several actors and a Ledger subscription . Before subscribing to Ledger Recover , weigh the advantages and limits, and consult the FAQ on Ledger for any specific question. If you want to use Ledger Recover ™ , make sure your wallet is compatible with the Ledger and you accept the Ledger and its safety modules.
For those who want an additional safety layer , ledger Recover ™ has been developed to protect your assets in the event of loss of the Seed Phrase . If you prefer autonomous management, the seed phrase by yourself remains the most sovereign method, but also the most risky in the event of forgetting or loss. Using Ledger Recover ™ or not will therefore depend on your user profile, risk tolerance and preference for safety management.
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Noah
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
