As a human being, it is inherent for you to be forgetful sometimes. Because of this human nature, you may even lose your ledger nano device that is the only gateway to your crypto currencies.
So, what actually happens if your ledger device X or S is lost by any way is our topic of discussion today. We will be introducing you to the probable outcomes of the loss and the path of instant recovery from the dicey situation.
To be straightforward, there is literally zero chance of your wallet being tampered by the founder or the thief. The person can’t even log in to your account let alone reach your assets on the blockchain using the 24 recovery phrase appropriately.
But, yes it is true if he or she knows your PIN code by any way, will get access to the device only, not to the crypto currencies.
Most interestingly, if the entered PIN is wrong three times consecutively, the wallet erases the saved info by itself. This is how the hacker or the founder is prohibited from getting the minimal info of your account.
Keep in mind that the smaller the PIN code is or the more common it is, the easier it becomes for the thief to guess the code. Therefore, we always recommend you to set a PIN of 8 digits or make it as hard as possible.
The first thing that you need to do after your device is lost, is to buy a new Ledger S/X from the official Ledger website only. Once you have the wallet at hand, it’s time to recover the account with the new device.
Don’t you know how to recover a lost Ledger Nano wallet? Here we have put up the entire guideline for you step-by-step.
Can you remember the coins you have been using? We know you can! So, the next step is very easy and requires you to do nothing but copy.
Keep in mind that this is the address that you will be using to send your coins to this fresh wallet.
Apart from getting lost, your Ledger Nano device can even get damaged in many ways.
To deal with such a hostile situation abruptly before things get worse, you better purchase 2 devices at a time.
Use one and keep the other stored for dicey situations.
Ans. No, the ledger nano website shows no option like that.
Ans. As long as the hacker doesn’t have the 24 recovery phrase, he or she can’t do it. It’s impossible!
Ans. The entire process of recovery doesn’t take more than 5 minutes.
Ans. With both Nano s and x, you get a blank sheet to write down the recovery phrase. After noting down, preserve the paper in a secret place about what none knows.
Ans. Yes, there is one. Hacker exposes the names, email ids and phone numbers of the users.
In the end, it is apparent that there is literally no chance of your being in a great fix if your ledger nano wallet gets lost. The security provision of the device is so innovative that the founder/thief can hardly get access to the device let alone reach your currencies with a dishonest attitude.