Posted 10/27/2023, 6:46:19 PM
Ledger Launches $9/Month Backup Service for Crypto Wallet Recovery Phrases
- Ledger launches subscription service for backing up secret recovery phrases to prevent loss of funds
- Service allows restoring access if hardware wallet is lost, but critics warn it risks government seizure
- Subscription costs $9/month and isn't automatic - users must opt in
- Ledger says service provides extra security for those worried about losing recovery phrase
- Targeted at users who want enhanced resilience in case recovery phrase is lost or destroyed