Ledger Launches Device for Wallet Access Backup

The hardware wallet manufacturer Ledger has introduced a standalone device that allows users to access their wallets at any time using a copy of their seed phrase.

The Ledger Recovery Key product is a smart card that communicates with Ledger devices via NFC protocol.

The device is an accessory to the wallet and does not allow for asset storage or management, the company emphasized.

The Ledger Recovery Key operates when connected to a hardware wallet, is protected by a PIN, and allows users to:

• safely create a copy of the 24-word secret phrase;
• restore access using it;
• manage the card’s contents (change PIN, device name, delete data);
• update the software.

Ledger noted that the preferred option for access backup remains the Ledger Recover subscription service. The solution, introduced in 2023, received mixed reactions from users. Concerns were raised about the theoretical possibility of restoring the seed phrase from its three parts, even though they are stored by different custodians.

Amidst this, Ledger’s competitor, Trezor, reported a 900% surge in sales.

Back in 2024, a popular Brazilian pianist known as Lord Vinheteiro, with over 7 million subscribers on YouTube, lost his seed phrase and access to 4 BTC stored in his Ledger Nano X.