Are there any risks involved in putting Ripple on a Ledger Nano S?

1 answers

• Nov 27, 2021 · 3 years ago
  When it comes to storing Ripple on a Ledger Nano S, it's important to understand the potential risks involved. One risk is the possibility of losing your device or having it stolen. If this happens and you don't have a backup of your recovery phrase, you won't be able to access your Ripple funds. Another risk is the potential for software vulnerabilities. While Ledger is known for its strong security measures, it's always possible for new vulnerabilities to be discovered. That's why it's crucial to regularly update your device's firmware to protect against any potential threats. Lastly, it's important to be cautious of phishing attempts and only enter your recovery phrase on the official Ledger Live app or website. By taking these precautions, you can minimize the risks associated with storing Ripple on a Ledger Nano S.
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