Is Ledger Recover Safe? 🔐 Unmasking the Truth | In-Depth Analysis

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🎯 Join CryptoDad as he dives deep into the latest feature from Ledger - Ledger Recover! As a trusted, objective, and honest source of information in the cryptocurrency community, CryptoDad leaves no stone unturned in investigating the safety and functionality of this innovative service.
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💼 In this video, CryptoDad meticulously examines Ledger Recover, explaining its process and analyzing its security measures. How does Ledger Recover work? Can it truly secure your Secret Recovery Phrase? Is it as revolutionary as it claims to be? This comprehensive review answers all of your burning questions!
🔐 The ethos of cryptocurrency has always been about maintaining control of your own assets. With the advent of Ledger Recover, the industry seems to be evolving. But is it a step forward or backward? CryptoDad offers his unbiased insights to help you understand the implications.
✅ CryptoDad has made it his mission to provide you with reliable information in the complex world of blockchain and cryptocurrency. Armed with years of experience, CryptoDad is dedicated to demystifying crypto technology and making it accessible to everyone.
🎈 Whether you're a seasoned crypto enthusiast or a beginner just starting your journey, CryptoDad's analysis of Ledger Recover is a must-watch. Together, let's explore this new frontier and ensure our digital assets are secure. Don't forget to Like, Comment, and Subscribe to keep updated with the latest crypto news and analysis! 👍

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19 май 2023

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Комментарии : 351

@CryptoDad Год назад

Yes, I feel disappointed as well. I always knew there was an element of trust in using a ledger device because their firmware was closed source. But I was always told that the rigorous third-party testing proved that the device was secure and always generated a random private key. We were also told that the private key never left the device. Now we’re being told that they have a new feature that allows you to export your private key and when people complained, they told us it “has always been possible”. That was enough to destroy all the trust that they had built up over the years.

@sniper100 Год назад

maybe they want people to use their mobile phones becuase they will collect a phone number, maybe other info? in EU every phone number must be registered to a person before being used, so the telecoms already knows who you are, and in turn the govt will know too if they will request that data :) I believe ledger will be dead soon, if someone is reaching for a hardware wallet then that means that this person is already a bit more aware and more advanced than a crypto exchange holdler, so yeah...

@cpwyou Год назад

So are you sticking with Ledger or moving to Trezor?

@BizantyjskiBorsuk Год назад

what is then the best option? could you make a video or do you have one made already?

@54cwalt 6 месяцев назад

So after losing my accounts in Ledger I bought the D’Cent Biometric for the free 200 Algo. I set it up and sent the address from the Decent biometric screen. I never got my 200 Algo. When I sent them a support ticket they said my address was invalid. 😳I then sent them 4 photos of my Dcent biometric dongle and asked the to explain how the address was invalid. They sent my 200 Algo but to a different address!!!!! I received it!!!! How does that happen ??????

@davidmercer5561 Год назад

I think most people who buy a ledger already know the importance of privacy and their seed phrase. This goes against the entire reason why we buy a ledger

@DiandraStarShine Год назад

that's why what they did backfired.

@1dotele Год назад

watch a mass exodus from Ledger

@skyfall1975 Год назад

Exactly, who did ask for this service? Not any existing customer offcourse…

@dendenden6 Год назад

@@alfie44 hahaha yess!

@sniper100 Год назад

not only that, they twitted that it was always possible to extract seed with the software, so who knows if they haven't extracted them already and what if they will pull the rug? or french government will come and say, give me all seeds? it's better to abandon the sinking ship and get a new seed using different hardware wallet and forget about the ledger

@davidmercer5561 Год назад

I hope someday you're recognized for how much work you put into this industry to help others understand it. We're probably around the same age except I don't have that much computer experience. I've been watching your channel for a long time and you've helped me immensely. I appreciate you very much.

@CryptoDad Год назад

Thank you. It was confusing for me when I first started in crypto. So I started this channel to make it easier for others entering the space. I just provide what I would have wanted back then.

@richardskead1 Год назад

@@CryptoDad also about same age group, got a lot from this channel from paper wallets to. ledgers and perhaps back again

@anthonydoyle5991 Год назад

Thanks Crypto Dad, very helpful content always! Thanks for all the hard work to help the next guy!👍

@CryptoDad Год назад

👋 In this video, I delved deep into the world of Ledger Recover to help bring clarity to you. Remember, your trust is my top priority, so every piece of information shared here is based on thorough research and unbiased scrutiny. Your engagement matters! 💬 Please share your thoughts, concerns, or any new topics you'd like me to explore in future videos. Don't forget to like 👍, share, and subscribe if you haven't already. Stay safe and empowered on your crypto journey! 💪🚀

@somedumbguy Год назад

How does ledger get our seed phrase for backup? Do we have to provide it?

@CryptoDad Год назад

@@somedumbguy We export it to them when we set up the service. That is part of the set up process

@cryptopassion1064 Год назад

Sounds dodgy

@coltuppal Год назад

Thanks for this updated vid, everything in it is spot on

@CalafriosYT Год назад

Thanks for this video. I learned a lot from you and with your help I set that extra layer of security, the 25th word or passphrase to make the wallet even more secure, years ago. Now my question is, do you think that even if all this is true and they can extract my 24 word seed from the device, would they be able to also figure out the 25th one that I created? Please let me know your thoughts. The answer to this question would make all the difference whether or not I would continue to use Ledger. The whole idea behind the passphrase is that if anyone ever got ahold of the seed phrase, it wouldn't matter because they would still not be able to access the funds without the one piece that is only memorized by me and was never written down. Thank you for all your videos!

@tar2927 Год назад

IMO Ledger is planning to go IPO and to do so the company will have to comply with homeland security requirements of KYC to trade securities. The only way to get this info (if you give to them by sign up for the recover subscription or you mess up sign up and brought cypto on ledger live thru a third party partner) if not, right now your Nano have no KYC data on them. That the No.1 reason for these new requirements to match hard wallet to owners and supply the data if when need to US government to control you. The bottom line is that LEDGER NO LONGER believe in self-custody and individual autonomy.

@garrywilliams7474 Год назад

Thanks CryptoDad, please keep us informed of any updates. I dont understand why they went down this path based on what you described. I definitely believe the individual should take responsibilty for their seed phrase.

@pete9372 Год назад

Great Channel, thx from U.K. FELLA👍

@submariner1348 Год назад

Excellent content as always mate! Thank you

@markandrow4010 Год назад

Thank you, comprehensive.

@Yates__ Год назад

First the leak of customer details, and now this. I'm done with Ledger.

@joebuphey7310 Год назад

Very excellent information. Mahalo CryptoDad.

@Martin-gg1up Год назад

Nailed it. So far the best content. Thanks for the great peace of work!

@Denis-kb8ls Год назад

Thank you to chew the news for us. Wonder if passphrase will be bundle into the ledger recover. So many unanswered questions.

@allenellis2329 Год назад

Thank you for all you do!

@SuperOMendez Год назад

Great contribution as usual CD what's your opinion in tangem wallet, and safepal wallet?

@tangogoddess2314 Год назад

1) why don’t they make a separate device to have the recovery feature and leave the present ones alone? 2) on top of all the security features they say their recovery service has and that most of us do not trust, that’s not the only problem. I think governments are pressuring Wallet makers to gather more in depth kyc so they know who has a wallet. Then next it will be what’s in the wallet. Then next it will be enforcement and rules around the wallet that they now track. It’s all info around you and your coins which we know, is not a good thing!!!

@tar2927 Год назад

You so right on No. 2

@CryptoDad Год назад

That was one of my main concerns as well

@cryptoslacker-464 Год назад

Thanks , Great points, I didn't think about that side of things. I think there is a major likelihood this is going on .

@fullcircle4723 Год назад

No. 1 scares me. They have mislead me from when I first purchased my Ledger S. I wasn't informed of any recovery feature in the future.

@amazinggiantflowers Год назад

Yep!! I think they have been compromised as a company, and when in doubt, there is no doubt. I just asked for a refund of my ledger S’s. I no longer trust ledger manufacturer. They broke the key component of having your own wallet. Game Over for them!

@Homedog_ Год назад

KYC is enough to warrant a big no; especially when restoring a wallet and a social credit score system becomes a norm.

@wolesofttechnologiesltd9688 Год назад

Great analysis! Thanks!

@cx1291 Год назад

Your video is concise and logical. Thanks Rex

@DucLu524 Год назад

Thanks for your sharing!

@fa5234 Год назад

Remember the: "not your key not your coins" used only a few months ago in the advertisements of... Ledger!!! States won't hesitate to force Ledger to reveal our seed phrases!

@Nerdcrusher Год назад

And the Blackrocks, JP Morgans and Alphabets of the world won't hesitate to acquire the custodian companies...

@sateshmahadeo4366 Год назад

Thanks for doing this video. Ledger really broke my heart with that announcement. I have two of their devices and I used them proudly. Ever since their announcement, I haven't even looked at my Ledgers.

@Veliko_R Год назад

I got my crypto off Ledger today... What they have done is one horrible betrayal

@raoultesla2292 Год назад

You are a good guy.

@CamStansell Год назад

very good thanks mate.

@coquifrog Год назад

Excellent video.

@listenup801 Год назад

TY CD!

@Peterogen Год назад

Thank you

@Juhsga Год назад

It's simply BIP39, with Shamir's Secret you can combine the 2 of 3 keys to get the Seed Phrase. A new Ledger will display the seedphrase when it retrieves the 2 of 3 keys. And Shamir's secret has less entropy than the BIP39 24 word seed phrase, meaning it's easier to determine through brute force and mathematical formula someone smarter than us figured out.

@hxn9264 Год назад

Thanks for all the video contents you are sharing. One question relayed to this ledger issue. Will passphrase be extracted as well along with the recovery seed if you sign up for the recovery service? Thanks

@Mrgoodguy865 Год назад

Great video dad

@timothyalmeida7555 Год назад

Thanks cryptodad

@bobh9817 Год назад

So Rex, how are you storing? What do we know is safe? Some suggest Xumm and Uphold. I’m thinking Xumm on a dedicated tablet secured with Yubikey. Would really like to know your plan at this point.

@one5749 Год назад

I thank you so much for how in-depth you covered this topic. It was your videos that taught me how to use the ledger in the 1st place. 🙏 Now I’m researching other cold wallet models to purchase in order to create a backup. I’ll look on ur channel to see if you have a video on how to backup the seed phrase, or how to backup my crypto but if u don’t have one will you explain? Ur assistance is invaluable. Thank you for helping me and all the others navigate this space.

@selectiveaussie Год назад

Oh my goodness I am not in any way good with technology, it took a lot to even purchase a Nano Ledger and teach myself how to use it. Now that I am comfortable and confident with it this happens. I only purchased the Nano believing that our coins would be safer on there than being left on our exchanges. I just don't know what to do now, it is very overwhelming. Thank you for taking the time to explain this.

@yisi1972 Год назад

I am in the same boat

@-zerocool- Год назад

Trezor also has Shamir Backup, I have no issues right now with Ledger. If you want to go really OP, use a 25th word seed, not even Ledger Recovery would be able to save you.

@andrèharrison7164 Год назад

Thanks for that. I was wondering why my phone wouldn't allow firmware update! So now i have to set up my ledger on a laptop to even see my crypto wallet which i can't currently access

@andyt48 Год назад

I’m 💯 with you, no updates for the foreseeable future.

@0scartheCat Год назад

You're Up !

@rickknowles9620 Год назад

Ok! there are other wallets. I trust your judgement and I have watched many of your videos and pleased with the help you have given. Question, there is the Cecux Nifty w20, a Keystone option, And also a Onekey device that have come up in other videos on the topic. What would you recommend?

@KristeeBee Год назад

I'd love to hear your thoughts on alternatives for crypto storage. I'm listening to lots of youtubers to get lots of opinions but your opinion and thoughts are high on my list.

@CFI_Randy Год назад

Hey Rex..welcome back home from your trip up north. We'll have to talk about that. So, looking at my desktop Ledger Live...they are showing version 2.58.0 as being available to download and install (...which I've yet to do). Is that the version that you're looking at as well? Also, if I heard you correctly, and if 2.58.0 is the same version that you downloaded and installed, that is the version where you could not find anything regarding the new restore option....correct? If this is accurate then I'll no doubt go ahead and install this current update. What a mess they've gotten into with this... Thanks, RP

@CryptoDad Год назад

That is the version of Ledger Live. That is not the firmware. The firmware is updated in "My Ledger" section. The latest firmware update is: 2.21. Updating the Ledger Live software does not automatically update the firmware.

@ardmuschurch9891 Год назад

Hi would it be easier to reset my nano s plus I didn't write down my keys

@wolfsfire68 Год назад

Thanks for looking into this. As far as ledger goes for me they've breached my trust with them so I'm going with the keepkey wallet for now.

@PEDRO-oz5td Год назад

I just ordered a CoolWallet Pro and will try that out instead of my ledger.

@sosisisou2sosisisou214 9 месяцев назад

after updating latest firmware … Can I disable this function even before KYC process..?

@jameshinton-howard6778 Год назад

Excellent as always CryptoDad. Thank you for informing us and looking out for our best interests. Maybe in a future video you could discuss what you feel are the top hardware wallets for safety?

@CryptoDad Год назад

I'm planning on doing some alternate wallet videos. I do currently have this video: (you can skip the Ledger section 😀) CryptoDad's Ultimate Cryptocurrency Wallet Comparison: Find Your Perfect Match! (New for 2023): ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H0hQYqK6Ueo.html

@tootall2630 Год назад

Great vedio what what should I do papper wallet

@Tom-gf9js Год назад

Quality crypto-tech content since 2017, presented in a calm & thoughtful way, thanks CD !! 👍👍

@CryptoDad Год назад

Thanks you. Very succinct comment!

@jurgen1804 Год назад

if you secured your ledger with an extra word 25th word. will this also be sent? and kept?

@marcomartino1686 Год назад

You are the best !!!! Perfectly clear !!!! What do we do next ? Wait Ledger movements while we look for better alternatives without panic ! Please keep us informed as time passes Greetings from Italy

@CryptoDad Год назад

Defiantly. You might want to check out this video in the meantime. It is very recent. CryptoDad's Ultimate Cryptocurrency Wallet Comparison: Find Your Perfect Match! (New for 2023): ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H0hQYqK6Ueo.html

@marcomartino1686 Год назад

@@CryptoDad Thanks very much i will

@lazarus4936 Год назад

what about adding the 25th Passphrase/ 25th word of your choosing to your recovery phrase and using only a ledger nano S

@betolp4895 Год назад

Damn I need to move out my coins. Man should I buy trezor or klever device?

@agent-8699 Год назад

Actually, it is possible to extract the seed from any hardware device that is capable of firmware updates over the internet. That is the more fundamental problem.

@grayman2972 Год назад

This feature was probably already integrated 2 upgrades ago. You know we only find out about crap after it's on the floor.

@DiandraStarShine Год назад

A.I. isn't new, only now more people are learning about it.

@1990rome Год назад

Im using a ledger x and ledger live is not showing the correct price point for my asset I have $1200 worth of a meme coin now it says $2.23 is this normal with this device

@Rida5d Год назад

Damn ledger … they did All this shit just after I bought my nano S plus …back door was always there .. we just know now

@UltiMogr Год назад

its like you creating the 3 shards yourself, and upload one to microsoft cloud, one to apple cloud and the third to the whatever cloud. would you ever do it? I wouldn't

@thomas4362 Год назад

So basically on any of our ledgers presently if we don’t use this recovery service are our cryptos still safe?? Or does ledger somehow or for some reason can still get into our wallets if subpoenaed??? Please advise. Thanks!!!

@rogeaver Год назад

The worst is the arrogance of adding a functionality that nobody asked for, and destroyed both the paradigm of self-custody and the trust of the users.

@bullzeyes23 Год назад

I need advice if Ellipal Titan is secure or any good?

@bobh9817 Год назад

So are we still “safe” using ref ledger provided we not use the service or is the firmware update in itself the issue?

@Joshua-rb2hv Год назад

Bro I feel kinda scammed by ledger..... I thought the seed ohrase could never leave the device so how is it possible for the device to send your phrase out in 3 pieces? That means there is a way for them to get or seed phrase If they want?

@cloudsoil Год назад

Hi CD! Im worried about Ledger transparency,my life savings is stored with them. Should I panic? I don't want to use recovery option,just cold storage.

@hotelphotography Год назад

Personally, I did not understand why wouldn't I be the one to provide those seed words. That would be security, not having them giving them to me. I never got that.

@iboughtcharlieleesbags8289 Год назад

Because you could just make up words instead of using known existing words. This would make it nearly impossible to hack and I suspect they WANT the ability there but would never let their customers know this

@hotelphotography Год назад

@@iboughtcharlieleesbags8289 It doesn't make any sense if the provider of a word based security provides you with the words. Of course they would know your seed, they gave it to you. Now, on the other hand, if I provide them the words, that would be more logical in my opinion. It's like if a security alarm system company (for your house, for example) gave you the password for alarm to arm or disarm. I wouldn't make sense for they will have access to your "secure" system. So in reality, it wouldn't be secure right from the start.

@zawmintun5099 Год назад

What hardware wallet should be use? Please😢

@mastalee1776 Год назад

I'm some what on the fence on this. I think they should of offer separate device

@zachk6005 Год назад

Is it an opt in or out for recover?

@DavidBrown-hc3rq Год назад

It may not be available, but is the code already within the latest update? Not much transparency from Ledger.

@elbischo1746 Год назад

Hi CryptoDad, what do you think about this update not being available for nano s, which is what have? Could nano s be safer comparatively? TY champion for all your good advice.

@CryptoDad Год назад

I'm assuming support for the Ledger Nano S Plus will be added in the future. The Ledger Nano S has been discontinued, so they will probably not bother with it. no money in it.

@L_MD_ Год назад

Back to the old Trezor and then figure out how to use the Dcent wallet that’s been sitting in my draw unopened for the last 6 months 😅

@nazdabner2685 Год назад

Hey Crypto Dad. I wanted ask you. I have ledger x. If I stop using the the ledger and restore the crypto with another hardware.. but using the same seed phrase. Is that safe? Please kindly let me know..

@kevinl371 Год назад

Thanks for this.I only use desktop so does this even affect me?? I ran ledger live an hour ago and my firmware is up to date. If ledger wanted to confuse someone like me they did a great job at that anyway

@soccerworld4025 Год назад

Has nothing to do with ledger live and everything to do with the DEVICE, itself.

@Olam_Orach Год назад

Cryptodad could you do a video on the best hardware wallets outside of ledger. I no longer trust ledger and need another option.

@DM-wl6bv Год назад

Ledger blew it. They have acknowledged the potential to obtain the private keys is there, even if we don't opt in.

@jodielynbrown1915 Год назад

Thank you!! So, I saw the update on my ledger live desktop app, and I’ve now ignored it because I didn’t know if doing the update was me ‘saying yes’ to the recovery bs. But… what your saying is that we could do the update, because it’s a CHOICE to do recovery - as there is more steps to activate it. So doing update should be ok, yes?? Aaghhh can’t believe they would do this!!

@daft4682 Год назад

I'm not updating. I'll never trust anything ledger has their name on going forward, no matter what they do or say.

@victorramos-bs9id Год назад

I deleted my gallery from my ledger live can I get that back or no..

@mrki731 Год назад

Hope Ledger watches THIS!!! 🙌🏆

@ikust007 Год назад

9:52 WoW. I thought it was more of a 3 steps system (with all of them )!??

@tcperozi8831 Год назад

Thank you I feel so scared now knowing ledger recover will be hacked

@TruthSlayer11 Год назад

Hi I haven't updated led live firmware since recover announcement..like you..but now I can't install xdc or add hbar account unless I update...is there a worksround to this..I have hashpack and metamask set up but I cant add the hbar account unless I update firmware.. can you do a video on this problem if there is a workaround for it.. thank you sir

@dexydjordjevic171 Год назад

Hi CD! I need an answer , is ledger safe (without this recover , i will not use that recover and pay an extra 10$). I hold 90% of my crypto on ledger and i am a little bit scared of ledger , do i need to swicht to trezor or i can use ledger and futher ? Is ledger and futher safe to use and hold all your assets ? Thank you !❤

@CryptoDad Год назад

If you update your firmware, there is a chance that your keys can be exported now that the functionality exists. But this is very unlikely. The important question is whether you feel safe. I can't determine that for you. I will be doing videos on migration techniques if you decide to change wallets

@Arimethius2 Год назад

I do not feel safe with this move. I presently own 3 ledger devices...one still in the box. I may never get another one again. I am already considering trezor and dcent as alternatives.

@tar2927 Год назад

NEVER PUT ALL YOUR CRYPTO IN ONE WALLET...CAN YOU HEAR ME???

@berranimohamedelamine2675 Год назад

Since then, the orange UPDATE FIRMWARE bar has disappeared on Ledger Live, which was appearing for days.. Has the company retracted its decision? Are there people still using ledger please answer

@robertmazal208 11 месяцев назад

I downloaded the new firmware to my stick. Then I got to the part where I had to re-download the crypto apps. I have Algo, XRP, and XLM. Only the Algo fully recovered. XRP and XLM did not recover. When I look at the log it appears like it has been transferred out somewhere. How do I correct this problem?

@CryptoDad 11 месяцев назад

you can go to the "My Ledger" section and manually install XRP & XLM

@WrathofViolence Год назад

So is this for if you just lost your seed phrase? Because I should be able to recover if I lost my ledger device if I have my seed phrase. At least that's what I was told and why I bought it.

@djss822 Год назад

Great vid, but. What is the next best alternative in your opinion?

@CryptoDad Год назад

Tough question. The answer isn’t really simple. There are a lot of third-party wallets that I’m using in conjunction with my ledger device that simply have no alternatives. For the big ones like bitcoin Ethereum I’m moving over to the Trezor T, which I already owns so it requires no additional upfront investment. But I’m still kind of in the market for a go-to hardware wallet. The ledger has wide industry support so it’s going to be tough to find something that can really take its place.

@tovarco Год назад

@@CryptoDad So for us there is no 100% cold-storage wallet at this point? Even with trezor...open-sourced yes...but they could do the same thing right....rewrite the code? Just trying to understand. Ive heard some mention Cold Card for BTC.

@owenkelly1549 6 месяцев назад

I think this is a great idea remember the story of a guy that forgot his pin I believe, and could not get into his wallet and he had millions worth of Bitcoin. So I would join Ledger Recovery if they offered Insurance JUST IN CASE

@luckyone7878 Год назад

So whats the best decentralized alternative to Ledger?

@AjaySingh-bm5bl Год назад

Simply I will not select seed recovery service. Then what is the issue with that ? It is our choice that we should select seed recovery choice or not . It is not enforced. Correct ?

@grant3504 Год назад

Please tell us how much time I’ve got to get a new wallet. Please please tell me what wallet to buy now? Please!

@user-nb7tz6le4q Год назад

I noticed one of the big crypto news sources is playing this down, probably a paid advertiser! The only reason most people have ledgers is self custody, plain, and simple. On there AMA they really didn’t allow many to talk!

@VE2FET Год назад

Go Keystone 👍

@ericshine123 Год назад

additionally gov can subpoena ledger and the other companies for your keys that's a no go for me. the point of cold storage is self custody. ledger should've made a new device with this service for people who need or want a backup.

@DAVIDJCARON Год назад

The orange UPDATE FIRMWARE bar on Ledger Live that was showing 2 days ago, has since disappeared.. while being very careful not to click to update it.. why would this be I wonder??

@CryptoDad Год назад

never seen that happen, but as long as you did not run it, I would not worry about it too much. Maybe it goes away after a certain time period. It may re-appear

@dahira.m9989 10 месяцев назад

Thanks for the info. Trust is a bad word in crypto.

@CryptoDad 10 месяцев назад

Very true

@STAXBITCOIN Год назад

We need alternatives Crypto Dad. What are your thoughts on Tangem or Ellipal?

@CryptoDad Год назад

I like both of them. But they each have their pros and cons. Check out this wallet comparison: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-H0hQYqK6Ueo.html

@amazinggiantflowers Год назад

Awesome investigation Crypto Dad. Thanks. I immediatley asked them for a refund of the ledgers I bought. I believe they have been compromised to government push. I would really like to ask you for a review of the best cold wallets that cannot be compromised. Will trezor be one, in the fact that everything is open source, so if another canada truckers event happens, even if they wanted to close down trezor and threatened them, they still couldnt give out our information. I believe all these companies will be targeted to provide information and keys about us