00:06Let's get to this next question. Question is, hey Ian, some of my friends are nervous about
00:12keeping a Nano in their house. What happens if they lose it or get stolen? Your ledger is small
00:19enough to fit in your pocket and you could lose it, but as long as you have your recovery phrase
00:24somewhere safe that only you have access to. You don't need to worry about losing it.
00:30You can always just get a new ledger device, punch in your recovery phrase and
00:35you're back in business. Also, we recommend having a backup ledger device set up with
00:40the same recovery phrase for easy access to your funds in case something gets
00:44lost or goes wrong. And if someone steals your Nano, no need to worry. They don't
00:50have your pin code and if they make three wrong attempts at it, the device bricks,
00:53which means it factory resets. Finally, your ledger device has advanced security
00:59features such as a second pin code which shows a different set of accounts. This
01:04is called plausible deniability mode. To learn more about this and other advanced
01:08security features, check out Ledger Academy on ledger.com. Remember, you can
01:13safely lose your pin-protected ledger device, but you cannot lose or let anyone
01:19else get their hands on your recovery phrase. Please watch this video as many
01:25times as you need to to understand this clearly. This is the most important
01:30security fact you can know about securing your crypto. Store your recovery phrase
01:34somewhere only you have access to. In the next video, we'll show you how scammers
01:40will try to steal from you and more importantly, how to protect yourself.
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