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Ledger launches Recovery Key – a physical key that helps quickly recover wallets.
Ledger has just introduced the Recovery Key, a new physical device that acts as a "backup key" helping users easily recover their crypto wallet by tapping the card and entering a PIN. The Recovery Key uses the same security element technology as Ledger's hardware wallets, specifically designed for Ledger Flex and Ledger Stax.
Users can create a Recovery Key alongside a set of 24 seed words, connecting directly via secure NFC, without intermediaries and always in an offline state. The number of Recovery Keys that can be created is unlimited, completely optional, and must be confirmed directly on the Ledger device.
This device was launched against the backdrop of the total cryptocurrency market capitalization increasing by nearly 1 trillion USD over the past year, with a growing demand for modern security and backup. According to Ledger, this product is a complementary option alongside the Ledger Recover ( launched in 2023) – a paid service that securely splits recovery phrases and stores them safely in multiple locations.
According to Ledger, the Recovery Key has passed rigorous security tests and the source code has been previewed along with the whitepaper. The product will be available for sale soon.