Your identity is under your control, as opposed to social Recovery which relies on another party. Then, a government ID is also accessible — most people in the world have one. Finally, ID verifications are less cumbersome than a full KYC process, allowing customers to only reveal the necessary personal information and no more than that. Ledger Recover comprises extensive identity verification processes—performed by Coincover within a secure environment built by Ledger.

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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.

How can I recover access to my wallet?

• It’s a completely paid optional service, designed to help users take custody of their assets, no matter their situation.
• 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.
• Your identity is under your control, as opposed to social Recovery which relies on another party.
• If you lose or don’t have access to your Secret Recovery Phrase, the service allows you to securely restore your private keys using a Ledger device.
• Publishing this white paper is yet another step in our open-source roadmap, aiming at opening as much as possible of our technical stacks to the crypto community.
• 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.

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 cycle. 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.

• This is why ensuring that your crypto remains safe and sound is of the utmost importance.
• You might misplace it, forget it, lose it, or have it stolen or destroyed by fire, water, or other hazards.
• Subscription to the service is neither automatic nor mandatory.
• Put simply, Ledger Recover is a way to create a backup of your wallet access.
• The company claims that this service can significantly enhance the security of users’ crypto holdings.
• When it launches, you can start using Ledger Recover via your Ledger Live app.
• Ledger Recover is 100% secure – and you don’t have to trust us on that.
• You’ll be asked to provide the code during the identity verification process.
• This ensures you alone can back up and regain access to your wallet.

Enter a 6-digit backup code

Updating your OS will not automatically sign you up for Ledger Recover. While the white paper is primarily an informational document, we welcome any corrections or suggestions for improvement. If you spot a typo, a sentence that could be clearer, or even a significant error in our explanations, please raise an issue.

What is Ledger Recover and how it works?

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.

Ledger Recover is Live

However, keeping your Secret Recovery Phrase can be difficult and risky. You might misplace it, forget it, lose it, or have it stolen or destroyed by fire, water, or other hazards. If that happens, you could lose access to your crypto assets forever. To explain the ethos behind it, Ledger Recover uses ID verification due to Ledger’s belief in self-custody and individual autonomy.

Can you recover a Ledger device without Ledger Recover?

You will then be able to restore your crypto wallet using the decrypted Secret Recovery Phrase. You can use this service to securely get back your private keys with a Ledger device and your ID if you ever lose or can’t access your seed phrase. When it launches, you can start using Ledger Recover via your Ledger Live app. Following that, you can rest assured that your backup is safe to retrieve whenever you request it. Ledger Recover is an advanced solution for the backup and restoration of your device seed, built upon a robust and resilient cryptographic protocol. Ledger Recover also isn’t a suitable service for those who insist on controlling their private keys to the fullest extent possible.

What happens if I stop paying my subscription?

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.

What Ledger devices are compatible with 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. 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.

• Ledger Recover can restore your private keys to your device, but it can’t provide you with your Secret Recovery Phrase.
• We have created this product for these users to feel confident using our products.
• Ensuring the security of your cryptocurrency is a question that every crypto investor must tackle at some point in their investing journey.
• Updating your OS will not automatically sign you up for Ledger Recover.
• Currently, Ledger Recover is only available to users who have Ledger Nano X or Nano S Plus wallets.
• If you lose or don’t have access to your Secret Recovery Phrase, the service allows you to securely restore your private keys using a Ledger device.
• Ledger Recover is an ID-based key recovery service that provides a backup for your Secret Recovery Phrase.

Can you recover a Ledger device without Ledger Recover?

As an added layer of protection, subject to investigation, $50,000 compensation may be available from Coincover in the unlikely event that something were to go wrong. If you don’t update your payment info and pay the subscription within 7 days, you won’t be able to restore your private keys using Ledger Recover. If you don’t regularize your payment within 3 months, your subscription will be suspended. After your subscription is suspended, you have 9 months to contact Ledger Recover Support and reactivate your subscription. You will need to pay an administration fee of 50 EUR along with any outstanding balance.

How Does Ledger Recover Stay Secure?

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.

Ledger Recover is 100% secure – and you don’t have to trust us on that. We have the best security team in the world with our Ledger Donjon, and we’re proud of how they’ve built and tested Ledger Recover with our partners. It is an optional, paid subscription service, and if you do not enable it, there will be no change to your device security or experience. Welcome to the GitHub repository for the Ledger Recover Cryptographic Protocol White Paper! This repository contains the complete text of the technical white paper that delves into the system design, architecture, and operational flows of Ledger Recover.

Create your username and password

Subscription requires a valid passport or national identity card. Valid driver’s licenses also accepted for Canadian and US users. Subscriptions are non-refundable except where statutory refund/cancellation rights apply. Please note that while the redeem code purchase is charged in your local currency, any monthly renewal payment will be processed in EUR (Euros). Due to fluctuating exchange rates, the price in your local currency may vary at the time of each payment and you may incur additional fees from your bank for currency conversion.

How does Coincover handle formal subpoenas/warrants from governmental agencies under Ledger Recover?

• Yes, your crypto is still in self-custody after using Ledger Recover.
• 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.
• That’s what Ledger Recover, provided by Coincover, is all about.
• Now, she helps the Ledger Academy with Editorial Content and SEO.
• For many users who are just entering this space, safeguarding a Secret Recovery Phrase may feel like too large a responsibility, one that they’re not comfortable taking on.

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.

• Self-custody is the golden standard of crypto security and Ledger’s goal is to make it easy to use.
• Your private keys never leave your Ledger device or the Secure Element chip.
• If you want to learn more about crypto security and hardware wallets, make sure to check out our list of the best Ledger alternatives.
• In these situations, looking after your seed phrase may be more of a burden than not.
• But for those who want to back up their wallet access, Ledger Recover is the perfect solution.

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When you want to restore your wallet, you initiate the Recovery from Ledger Live. You’ll have to log in to your account and then go through 2 independent Identity verification processes. At this point, two of the three parties will send back their fragments to your Ledger device using the same Secure Channel mechanism. Once contained in the secure element, they are decrypted and reconstitute your seed phrase. If you sign up for Ledger Recover, it is possible to restore your account on any new Ledger device too. This means you stay protected, even if your device and the seed phrase go up in flames.

A digital backup for your wallet access

Ledger, the world’s biggest manufacturer of hardware cryptocurrency wallets, has recently introduced a new subscription service called Ledger Recover. The company claims that this service can significantly enhance the security of users’ crypto holdings. Let’s explore what Ledger Recover actually is and whether the service is right for you.

Do you have housemates who you can’t trust around your valuables? In these situations, looking after your seed phrase may be more of a burden than not. You can now sign up for the optional, paid subscription wallet recovery service, Ledger Recover, provided by Coincover. In our opinion, the majority of this backlash was misguided and based on misunderstandings and incorrect assumptions.

Another option is to reset an already-used device to its factory settings. Identity verification inherently collects much less information compared to KYC. To go through Ledger Recover identity verification you need a valid, government-issued document and be the rightful owner of that document. KYC involves ID verification but it can also include revenue information, record of criminal activity, citizenship check, etc. Wrote down my recovery phrase on a piece of paper which I lost during a move. If you do choose to update your OS, using any of the services offered on Ledger Live will still require your physical approval.