Ledger devices are one of the most secure ways to handle and hold cryptocurrency since they do not hold private keys on the internet and instead store them locally on the device. This makes it very hard for hackers to exploit your private keys since they would need the actual device if it is used properly. Some problems can occur with the Ledger device, though, and some of these problems include broken devices or devices that are connected to exploited computers.
Introduction:
Today we are going to talk about the different steps that you can take to replacing your broken Ledger device and not lose any of the cryptocurrency stored on it.
Cryptocurrency wallets do not store the cryptocurrency that you own on them, but rather the private keys which are verified and accessed through recovery seeds. So, your Ledger device could be used on other platforms since you have the universal verification code, which is known as the recovery seed.
Lets now go over how you can restore your ledger device after it is broken.
Purchasing a new device
The first thing you need to do if the Ledger device is broken is to buy a new authentic device to replace it. You can buy a genuine device on the official website, beware of fake sites that might have purchased google ad space as the first link with a “Ledger” search.
After you have a new device, you can follow the steps below to recover your coins by using the recovery seed phrase you wrote down when you initialized your previous Ledger device.
If your device is not broken but is not syncing correctly, then you may have to reset your device, which can require a different method that can be found on our How To: Reset Your Ledger Device thread.
Steps to replace:
Most of the Ledger Live issues can be resolve by updating Ledger Live application!
Download last version Ledger Live for:
- Ledger Live
- Ledger Wallet
Step 1: First, you will want to connect your new device to a PC that you feel comfortable has not been altered or hacked. You can connect your device with the USB cable that was provided to you.
Step 2: Once you have the device plugged in, the Ledger will turn on and start displaying information. You will want to click through all the necessary settings.
**Step 3: **Once the screen says, “Restore from recovery phrase,” you will want to hold both buttons on the ledger to start the restoring process.
Step 4: Again, you will want to hold both buttons as you see “Choose PIN code,” which will come up directly after the “restore from recovery phrase.”
Step 5: Now, you can enter a PIN. By pressing the right button, the digit will increase; by using the left button, the number will decrease. Once you have the correct figure, you can hold both buttons until you have successfully entered every digit.
Step 6: You will now get a screen that says, “Confirm PIN code.” You will need to hold down both buttons to get to the next screen.
Step 7: You will now need to reenter the PIN to confirm that you remember it. It is recommended that the PIN is written down and is stored in a safe place so that you can easily access your wallet through the Ledger.
Step 8: You will now need to enter the recovery phrase. Press both buttons to enter the screen that requests the phrase. In the same way that you entered the digits, you will add the recover words. The right button will move to forward to the next letter, while the left button will bring you to the previous message.
Step 9: After entering the recovery phrase, you will need to confirm it by entering the requested word. In the below example, Ledger is asking for the 24th word to confirm that we have it.
Step 10: After entering the recovery phrase and clicking both buttons to submit the request, we will see a processing message like the one below, that can take a few minutes.
Step 11: Once the processing is complete, the private keys have been restored, and we can continue by clicking the right button.
Step 12: Now, Ledger is going to ask that we press both buttons to enter the dashboard. Once you are on the dashboard, you have successfully restored the ledger wallet. 🎉Congratulations!🎉
Conclusion:
Ledger devices are incredibly secure since private keys are held on the device and do not get exposed to the internet. However, the device can only be as safe as its software, and if the device itself is broken, then there could be issues if the standard precautions are not taken. Every time a seed is created, the associated information should be written down and secured in a lockbox so that if the device is ever broken or malfunctions, the coins can be recovered.