Ledger Adds Private Key Recovery Option to its Hardware Wallet Nano X
Ledger has unveiled a new tool, Ledger Recover, which allows users to back up their Secret Recovery Phrase in order to regain access to their Nano X device.
The user is able to independently decide whether or not to use the subscription service, which splits the phrase into three fragments and stores them on three different sides in an encrypted form.
The owner of the wallet can access the backup copy of the phrase to restore their private key through confirmation of personal data.
Ledger has emphasized the fact that “non-custodial storage remains and will always be our guiding principle”, and that they “give the choice to the user to manage their assets themselves or to have a backup with Ledger Recover.”
The service will be available soon, and is expected to cost $9.99 per month. Initially, the service will be available to users located in the US, UK, EU, and Canada.
