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FAQs
What happens if your ledger breaks? ›
In the event that your Ledger device is not operational, you have two main options: Purchase a new Ledger device and use your SRP to restore and access your assets. This is the recommended course of action. Then, restore your device by entering your existing SRP.
What are the rules for general ledger? ›A general ledger summarizes all the transactions entered through the double-entry bookkeeping method. Under this method, each transaction affects at least two accounts; one account is debited, while another is credited. The total debit amount must always be equal to the total credit amount.
What happens after 3 attempts on Ledger? ›You have three attempts to enter your PIN code correctly on your Ledger device. After three incorrect attempts, your device will factory reset, and you can only restore it using your secret recovery phrase.
What happens if I lose my Ledger recovery phrase? ›If you have lost your secret recovery phrase and no longer have access to your PIN code, or if your Ledger device has reset and you don't have your recovery phrase, unfortunately, it is impossible to recover your assets. Ledger is unable to retrieve your recovery phrase or PIN code for you.
What if the Ledger is destroyed? ›If your 24-word recovery phrase and Ledger device were both lost or stolen, and you lack a backup device configured with the same recovery phrase, it will be impossible for you to regain access to your funds. You can purchase a new device via our store.
How do I recover a damaged Ledger? ›Your Secret Recovery Phrase is a unique 24-word phrase that is generated when you first set up your Ledger device. This phrase serves as the backup of your wallet's private keys, allowing you to securely restore your wallet access even without your original device. Keep your Secret Recovery Phrase safe!
What happens to my crypto if Ledger goes bust? ›A: All you'd need is your original seed phrase you save when setting up your ledger. With that seed phrase you can recreate all wallets your ledger device creates. Ledger is giving ease of use with this but by no means are you reliant on them for your money if they went bankrupt one day. That's the beauty of crypto!
What happens if your cold storage wallet breaks? ›If you lose your cold wallet, you can still use a recovery phrase to access your keys, though you'll need to purchase a new hardware device or plug the phrase into a compatible software wallet. With both methods, if you lose track of your recovery seed phrase, you may lose access to your wallet permanently.