Ledger has launched a new offline tool called Recovery Key that helps users regain access to their wallets without relying on cloud services or personal data collection.
Introduction to Ledger Recovery Key
The new tool allows users to restore access to their Ledger Flex and Ledger Stax wallets via NFC connection without cloud technology involvement. Users can store their private keys on a smart card secured by a PIN, eliminating the need for identity verification or personal data collection.
Rising Demand for Self-Custody
With the increasing popularity of hardware wallets in 2025, their importance for cryptocurrency security has become evident. Heightened regulatory pressure and exchange failures are driving users towards self-custody. The cryptocurrency custody market is expected to grow from $4.64 billion in 2025 to $15.75 billion by 2034.
Technical Features and Security
The Recovery Key utilizes NFC tapping and PIN entry to connect to Ledger devices. The solution employs Secure Element technology, significantly enhancing security. The application's code has been made available on GitHub, and independent audits of the system have been conducted by external cybersecurity firms.
Ledger's solution provides users with a secure and convenient method for recovering access to cryptocurrency wallets without cloud dependency, enhancing security and control over personal keys.
