Recently, Ledger introduced a recovery option that involves storing your security phrase in three different places. While this method aims to enhance security, it can also be seen as a potential backdoor vulnerability from a security perspective. On the other hand, writing down your security phrase on a physical medium like a notepad or piece of paper is generally considered secure from digital hacking or theft. However, it does introduce the risk of physical theft if not stored securely.

Whether this approach is a plus or a minus depends on individual perspectives and priorities. Storing the security phrase in multiple locations may offer additional redundancy and protection against certain risks, such as device failure or loss. However, it also increases the potential attack surface if all three locations are compromised.

They introduced Ledger Recover as a user-friendly solution for private key management. This optional subscription service, available with the latest Ledger Nano X firmware update, enables users to back up their Secret Recovery Phrase and restore their wallet anytime, anywhere, even if their original Ledger device is lost or stolen. For a monthly fee of $9.99, users can enjoy the convenience and peace of mind provided by Ledger Recover.

With this service, your government-issued ID becomes the sole tool necessary to recover your wallet. No longer do ordinary crypto users need to navigate complex operational security measures to safeguard their hardware wallets.

To ensure enhanced security, the Secure Element divides and encrypts private keys into three separate pieces, with Ledger retaining one shard and the remaining two distributed among trusted third-party entities. Each shard alone is useless, requiring the combination of multiple shards to reveal the private keys.

To enable Recover features such as backing up the seed phrase, users must physically enter their device passcode and confirm any firmware updates. This ensures an added layer of protection for your wallet.

Looks like Ledger Recover brings easier recovery at the cost of a monthly subscription and less Privacy.