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How Safe is My Ledger Seed Phrase?

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by COINS NEWS 89 Views

I've been thinking about jumping ship from Ledger since the whole "store your seed phrase for you" and all the closed source secrecy, debacle.. I started toying with the idea of trying the new Trezor. I think I'm nearly ready to make the switch.

I spent a good amount of time and effort memorizing my seed phrase for my Ledger wallet. I really don't want to have to go through that again.

What level or risk would it be for me to simply use the same seed phrase on another wallet? Do we know if Ledger is proactively storing our keys already? Or is my seed phrase safe to continue using with other hardware? Are the odds high enough that I should simply set it up as a new wallet?

submitted by /u/cmaxim
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