Ledger has announced a new device called Recovery Key, a physical “key” designed for fast and secure access to cryptocurrencies, according to The Block. The device works with Ledger Stax and Ledger Flex wallets and creates an offline backup key that can be activated with a single tap and PIN code entry.
How the Recovery Key Works
The new device targets users of Ledger’s e-ink wallets, including Stax and Flex. The Recovery Key card connects to the wallet via a secure NFC channel. It remains completely offline, requires no third-party apps, and creates an encrypted backup access key protected by a separate PIN code.
Users can create multiple Recovery Keys, but only through direct confirmation on the primary Ledger device. This solution complements the familiar 24-word recovery seed-phrase still used to regain access.
Security, Privacy, and Flexibility
Ledger emphasizes that the Recovery Key does not replace traditional methods but expands user choice. According to Ian Rogers, Chief Experience Officer, many people store assets on centralized exchanges or in vulnerable wallets, thereby compromising security. The new key offers a physical, user-controlled backup option without the risk of data leaks.
The company had previously launched Ledger Recover, a paid service that splits the recovery phrase into encrypted fragments and stores them in multiple countries. A “Bitcoin family” once hid keys across four continents due to threats, possibly using a similar method.
Restoring access with this service requires identity verification through the Ledger Live app. The new Recovery Key and Ledger Recover are independent tools that can be used separately or together.
Code Review and Launch Preparation
Ledger stated that the code for the Recovery Key is already available for public review. A technical paper describing the device’s architecture has also been published. According to the project’s CTO, the device underwent a series of internal tests, audits, and a review by Donjon — Ledger’s internal security team. The company claims that independent researchers and industry leaders have responded positively to the technology.
Growing Interest in Hardware Solutions
Ledger has sold over 7.5 million devices, driven in part by the launch of Stax and Flex models in 2024. With crypto market capitalization rising nearly $1 trillion in the past year, demand for reliable and autonomous storage methods has intensified. Ledger is focusing on multi-layered recovery options while keeping control in users’ hands.
Previously, the company also introduced the Crypto Life (CL) Visa card. Cardholders can earn 1% cashback in Bitcoin (BTC) or USD Coin (USDC) and have their salaries deposited directly via bank transfer.
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