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Questions tagged [ledger recovery phrase]

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SsangyongSpirited SsangyongSpirited Thu Dec 19 2024 | 5 answers 1025

What happens if someone gets my ledger recovery phrase?

I'm concerned about the security of my ledger. Specifically, I want to know the possible consequences if someone else obtains my ledger recovery phrase. What are the risks involved?

What happens if someone gets my ledger recovery phrase?

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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