How secure is the key transfer process?
What assurance do I get that my keys aren't being sent into the cloud?
How hackable is it? If it gets lost or stolen is there a freeze or destroy function? What about backup keys for the previous scenario?
RE: Supported Crypto: LEDGER NANO S - Best Hardware Wallet
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Supported Crypto: LEDGER NANO S - Best Hardware Wallet
Hi, the keys are securely stored on to the device on a dual chip secure element. There is a 4 or 8 digit pin code on ledger nano s so you can only open it if in case you enter 3 times wrong pin it will format/wipe the device and you need to setup it again using the 24-word key words which you need to note down initially while setting up the device at first time usage. Again, if you loose the device you can buy a new one any using your recovery seed words you can get your device back in same condition. Hope it helps :)
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