Re: Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
The solution is simple - avoid any platform which requires KYC.
Life gets very hard if you do so, especially if you actively travel. But probably that's the price of privacy, just wonder how long can one keep living in such a discomfort.
). Isn't this ironical?What is even worse is that there are actually some providers that agree with Ledger stance on embracing more users by providing easier entry points[2]:
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For instance, Madar highlighted that one of the biggest challenges associated with cryptocurrency is that it’s too complex for many users. “Specifically, keeping track of your physical device and seed phrase for years is far from trivial for the average person. Every user should be able to back up their keys somewhere,” he said.
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Echoing this, Marvin Janssen, co-founder of hardware wallet provider Ryder, told Cointelegraph that Ledger Recover might appeal to mainstream customers. “It absolutely happens that people, especially those new to Web3, lose access to their wallet because of a faulty or complete lack of a backup. A feature like Ledger Recover can, therefore, definitely help,” he said.
How can anyone agree that, with a simple update, independently or not if I choose to take part of it, my device will have a "dormant" code that could be exploited in the future and thus voiding everything that the product & company stands for? That's madness![1]https://nitter.it/thecryptovalley/status/1664691045299376138
[2]https://cointelegraph.com/news/ledger-ceo-says-crypto-key-recovery-service-makes-self-custody-easier