Crypto hardware wallet manufacturer Ledger has rolled out a new feature called Ledger Recover, which allows users to back up their recovery seed phrases.

Meanwhile, the initial announcement saw pushback from the crypto community, who criticized the service, with the formal launch still not welcome by users.

Ledger Recover Goes Live

Ledger announced the launch of its new optional subscription-based seed recovery service on X called Ledger Recover, provided by the blockchain protection firm Coincover. The new feature is currently available on Ledger Nano X, with the service expected to launch soon on other Ledger devices.

According to the Ledger Recover FAQ,

“Ledger Recover is designed for users who want to add an enhanced layer of security in case their Secret Recovery Phrase is lost or when they can’t access it.”

With Ledger Recover, users’ private keys are encrypted and fragmented into three pieces. The fragments are thereafter “securely distributed” to three independent companies, namely Ledger, Coincover, and EscrowTech.

Meanwhile, Ledger users who are interested in the new update will subscribe for free in the first month and subsequently pay €9.99 monthly using Visa and Mastercard to access the feature.

Customers will also need to provide a valid ID document and selfie recording to verify their identities. According to Ledger, ID verification is a less complicated process and collects less information compared to Know Your Customer (KYC) procedures.

Pascal Gauthier, CEO of Ledger, said that the new feature provides a solution for crypto users who do not have to be burdened with remembering their seed phrases.

“Let