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if the ledger decides not to withdraw funds and disappears, the whole crypto world will bleed, a lot of people will go bankrupt and it won’t come back soon
honestly, I wouldn’t be surprised if this caused the crypto market to be shaken for many years
KEY TAKEAWAYS:
— Your cryptocurrency is stored on the blockchain and your private key unlocks the use of the crypto coins/tokens.
— If Ledger didn’t exist anymore, your cryptocurrency coins and keys would be safe and you could still access them.
— You can retrieve your private key that your Ledger wallet was securing with a 24-word recovery phrase and it can be entered into a compatible wallet, meaning your coins are safe from loss if anything happened to Ledger.
The crypto coins live on the blockchain and the keys to your coins live where you choose (ideally, in a secure location where no one else can access). The coins themselves don’t exist on any device or platform, not even on Ledger devices . Your wallet only stores and protects your private key.