Hardware wallet company Ledger announced on Oct. 24 that its controversial wallet recovery service, Ledger Recover, is now available to customers.

Recover allows users to link their personal ID to an encrypted and fragmented secret recovery phrase, which is stored with three separate companies.

Pascal Gauthier, chairman and CEO of Ledger, tweeted:

“Today is the day. I’m glad to announce that our secure wallet recovery solution Ledger Recover, provided by Coincover, is now available for Ledger Nano X users.”

Ledger separately noted that subscription to the service is “not automatic.” It indicated that users must pay $9.99 per month and approve the backup process.

Ledger said that Recover is aimed at users who are concerned about storing their recovery phrase, or seed phrase, on an easily damaged piece of paper. It also suggested that its solution is more secure than centralized exchange wallets; unlike those centralized services, Ledger Recover does not hold funds on behalf of users.

According to Ledger, the Recover service is essential to achieving “mainstream adoption around digital value” by providing a low barrier to entry.

Recover continues to attract backlash

Despite Ledger’s attempts to assure the community that Ledger Recover is secu

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Author: Mike Dalton

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