Hardware wallet ledger with ledger live

[frankieky888]

I use ledger to store my bitcoin. What if the ledger company bankruptcy and shutdown the company. Can my bitcoin still accessable in ledger live? I assume ledger live need a server to work correctly.

[1714994959]

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[1714994959]

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[NeuroticFish]

I use ledger to store my bitcoin. What if the ledger company bankruptcy and shutdown the company. Can my bitcoin still accessable in ledger live? I assume ledger live need a server to work correctly.

I am not convinced it will work with Ledger Live, but as long as you have your 24 word seed there surely will be wallets that will accept the seed and you'll be able to spend your coins.
One such wallet is Electrum.
So don't worry.

[frankieky888]

I use ledger to store my bitcoin. What if the ledger company bankruptcy and shutdown the company. Can my bitcoin still accessable in ledger live? I assume ledger live need a server to work correctly.

I am not convinced it will work with Ledger Live, but as long as you have your 24 word seed there surely will be wallets that will accept the seed and you'll be able to spend your coins.
One such wallet is Electrum.
So don't worry.

So in case ledger company doesn't exist in the world, i still have seed phase to try software wallet one by one. Thank you for your help

[NeuroticFish]

So in case ledger company doesn't exist in the world, i still have seed phase to try software wallet one by one. Thank you for your help

Not "one by one". All HD wallets should be fine. And most wallets are nowadays HD.
And there are also tools like https://iancoleman.io/bip39/ where you can get from your seed a list of addresses and private keys, which are compatible with all wallets.


Of course, any tool you use you have to make sure you use it securely and probably offline to not risk losing your funds.

[odolvlobo]

So in case ledger company doesn't exist in the world, i still have seed phase to try software wallet one by one. Thank you for your help

Many people don't realize that you can access your hardware wallets through various software wallets such as Electrum and Mycelium. You don't need to rely on the Ledger or Trezor websites. Even if the companies go away, you can still use your hardware wallet.

[mk4]

So in case ledger company doesn't exist in the world, i still have seed phase to try software wallet one by one. Thank you for your help

Many people don't realize that you can access your hardware wallets through various software wallets such as Electrum and Mycelium. You don't need to rely on the Ledger or Trezor websites. Even if the companies go away, you can still use your hardware wallet.

This. But OP just take note that YOU DON'T INPUT YOUR RECOVERY PHRASE ON SOFTWARE WALLETS UNLESS YOU REALLY NEED TO. The point of hardware wallets is that your private keys are only on the hardware wallet itself. If you input your recovery phrase on a software wallet manually by typing it in, it completely destroys the purpose of having a hardware wallet.

[notblox1]

You can always import your seed to any other Hardware wallet if you lose your old wallet or if company go bust.
Any offline computer wallet will also work as well (Electrum for example)

[o_e_l_e_o]

Ledger have a support page about this here: https://support.ledger.com/hc/en-us/articles/115005297709-On-which-wallet-can-I-restore-my-wallet-if-I-lose-my-Ledger-device-

The URL is misleading - the page is actually entitled "Export your accounts". The advice on it is equally applicable if Ledger has gone out of business or ceased operating, as it is if you have lost your device.

You actually don't need to import your 24 words anywhere, though, and I would recommend you don't since you risk their security by doing so. You can simply plug in your hardware wallet as you normally would, and use a client such as Electrum to open it and see all your address, coins, transactions, etc. There are plenty of users with a Ledger device who don't use Ledger Live at all (except for updates), and manage their device and private keys solely through a client such as Electrum.

[DarkDays]

When you originally setup your wallet you should have been provided a mnemonic phrase, this can be imported into any other HD wallet.

Also, Ledger Live doesn't need Ledger's servers to be online, so even if Ledger goes down, Ledger Live will still work.

You can test this by trying to connect to Ledger Live on an offline device, you will find that it still works even when the computer is offline.

[Lucius]

Also, Ledger Live doesn't need Ledger's servers to be online, so even if Ledger goes down, Ledger Live will still work.

It is true that Ledger Live can show you your balance/accounts even offline, but if Ledger servers is down for some reason, your wallet/s can not sync and you can not receive/send any transaction. As far as I know Ledger Live is dependent on Ledger servers, they are running nodes for different blockchains.

There is always alternative for BTC with Electrum, and for few other coins which have stable version of forked Electrum, but if for some reason Ledger is stop running their servers, only way to access some coins will be to play with seed by importing it to other wallets or by extracting private keys for individual coin/s.

[Pmalek]

Just make sure your seed is safe, written down properly, you can read it, and there are no misspelled words.
Since someone mentioned https://iancoleman.io/bip39/, don't play around with it and enter your seed to test it out. It is recommended to use that tool in offline mode, and only if you find yourself in a situation where you need it.

[o_e_l_e_o]

There is always alternative for BTC with Electrum, and for few other coins which have stable version of forked Electrum, but if for some reason Ledger is stop running their servers, only way to access some coins will be to play with seed by importing it to other wallets or by extracting private keys for individual coin/s.

That's not accurate. You can see a list of all the coins and tokens supported by Ledger devices here (https://www.ledger.com/supported-crypto-assets), along with a list of all the third party or sometimes official coin wallets which are compatible with Ledger devices. The majority of coins have their own supported alternative to Ledger Live, not just ones with forks of Electrum. For all of these wallets, there is no need to access your seed or import it to a new wallet, or extract and import your private keys. Simply downloading the wallet, following their set up procedures, and linking with your already initialized and up-and-running hardware wallet will let you access the relevant coins.

It is only coins which have no compatible alternative wallet to Ledger Live, such as Dash or Dogecoin, which you will need to extract your seed or private keys.

[Lucius]

It is only coins which have no compatible alternative wallet to Ledger Live, such as Dash or Dogecoin, which you will need to extract your seed or private keys.

And that's exactly why I wrote "only way to access some coins will be to play with seed by importing it to other wallets or by extracting private keys for individual coin/s.", and such coins are Dash and Doge as you mentioned, but also Ripple, Litecoin, Zcash, Decred, Qtum... On link you posted those coins are only supported by Ledger Live, and if for some reason Ledger server/s stop working there is no other alternative then to extract private keys from seed.

In this case, the only correct solution is to empty first all accounts/wallets which you still can access via alternative wallets, and then try to extract private keys of coins that are left.

[bitmover]

There are plenty of users with a Ledger device who don't use Ledger Live at all (except for updates), and manage their device and private keys solely through a client such as Electrum.

Yes  I do that. As electrum is a much better software.

But even if electrum and ledger live disappear, you can access your coins using the seed and its private keys. As others said. No worries.

The most important is to buy a hardware wallet so you are sure you generated your seed safety.

[o_e_l_e_o]

The most important is to buy a hardware wallet so you are sure you generated your seed safety.

Well, although using a reputable hardware wallet is probably the most straightforward way for a newbie to generate a seed securely, you don't have to use one to be sure your seed was generated securely. In fact, there are more secure ways to generate a seed, which do not rely on any computer software at all, so you can be 100% sure that they were generated randomly. For example, flipping a coin 256 times gives you 256 bits of entropy, as does rolling a 6-sided die 100 times. You can do this entirely offline, turn it in to a seed offline, generate private keys, public keys, and addresses offline, and then simply import your master public key to a live machine to use as a watch only wallet.