I just got my ledger nano s hardware wallet.
Im confused.. over 1 thing mainly.
I have written down my seed. And i have set up the wallet. But lets say i store Bitcoins, Litecoins and Ethererum. How does the seed recovery work for all the coins?
For an example if i had 50BTC, 50LTC, 50ETH.. And i lost my Ledger nano s.. How would that 24 word seed recover coins on 3 different blockchains? That is the part which confuses the hell out of me.
Is the seed actually universal across all 3 coins (can be recovered on each and every chain, on their most trusted wallet client)? Or does it ONLY work on Ledger wallets (which is the part im scared about, because that would mean its too centralized and i dont trust ledger servers with my coins).
Also do the ledger servers know my seed??
Try the Ledger Knowledge base at
http://support.ledgerwallet.com/help_center or specific questions at /r/ledgerwallet on reddit. The developers are pretty active on that reddit.
