As a precaution, before updating your device, you need to make sure your recovery sheet is easily accessible. If you do not know what is new recovery phrase, this article will help you to understand. No matter what issues you may encounter during the firmware update process, having your recovery phrase ensures that you have full access to your crypto assets.
What is the new recovery phrase?
Quick reminder: it is not technically possible to change the recovery phrase or private key of a wallet. The only way to have a new set of recovery phrases is to generate a new wallet and transfer your funds to that new wallet.
Your 24-word recovery phrase acts as a backup for your crypto assets. As long as you have your recovery phrase, you will always be able to regain access to your crypto assets. You can restore any Ledger device from the recovery phrase to restore wallet configure and access your funds.
Not sure if your recovery phrase is correct?
If you're not sure if you wrote down your recovery phrase correctly, you can use the Recovery Checker app in Ledger Live. The Recovery Check application developed by Ledger allows you to verify that there are no errors in the spelling or word order of the Recovery phrase.
I hope now you know what is new recovery phrase and whether you can make it new or not. The best way is to have a hardware wallet which is safe and more secure.
