Question about Ledger Nano S seed restore

lizardbtc

full member

Activity: 448

Merit: 109

Quote from: patrickgt3 on July 17, 2017, 11:59:57 AM

Hello,
does the 24 words recovery seed restore all my crypto currencies on my ledger nano s?
When I set up my ledger for the first time the only application installed was Bitcoin I think.
Later I installed LTC, ETH, DASH.
Now I don't know if I can also restore these altcoins on my ledger.
I've read in a chatroom that I can restore all. But how does the nono S know the private key of LTC, ETH for example if the seed was generated before i installed the LTC and ETH apps?

It uses same seed as for BTC. I mean by this that it takes same mnemonic / seed (those 24 words) and from them it generates diffenerent private keys for different coins. These seeds are often used by HD wallets and by the wallets that support many coins such as ledger. It makes it easy to backup multiple private and public keys with mutliple crypto currencies.

Slark

legendary

Activity: 1862

Merit: 1004

According to this FAQ answer: http://support.ledgerwallet.com/knowledge_base/topics/haw-can-i-backup-my-ledger-wallet?from_search=true
You don't have to make any added manipulation to backup your wallets: you already have an operational backup as soon as you initialized your device.
They, however, don't disclose how exactly seed is generated and whether this process covers all altcoins stored in your wallet fully.
I suggest that to learn more you simply consult their support and ask about this functionality. To do that simply click on "I want to contact support" after you open the link I provided.

patrickgt3

newbie

Activity: 46

Merit: 0

Hello,
does the 24 words recovery seed restore all my crypto currencies on my ledger nano s?
When I set up my ledger for the first time the only application installed was Bitcoin I think.
Later I installed LTC, ETH, DASH.
Now I don't know if I can also restore these altcoins on my ledger.
I've read in a chatroom that I can restore all. But how does the nono S know the private key of LTC, ETH for example if the seed was generated before i installed the LTC and ETH apps?

Topic: Question about Ledger Nano S seed restore (Read 1456 times)