I setup my ledger nano s properly and transferred my Ripple to ledger nano. Now I want to reset my ledger nano and generate new seed. I have transferred Ripple to some other exchange to reset my ledger but last 20 ripple can't be transferred as it is required for any ripple account. Once I will reset my device, can I use the same ripple wallet so that my 20 ripples won't be lost or I will have to forget these 20 ripples in terms of resetting my ledger nano? Is there any other way to save these 20 ripples?
1 Answer
Since your Ledger's Ripple address is tied to the seed, if you reset the device and choose a new seed, you will lose those 20 XRP.
If you reset the device and restore the old seed, you can reuse the address.
There is no way to use a new seed and the old Ripple address on a single ledger.
answered Nov 7, 2018 at 8:41
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Thanks a lot Raghav. I want to change my seed due to security reasons and if I will restore old seed then it won't fulfill my purpose. In that case I will have to lose these 20 ripples. But in future anytime I can reset my ledger with old seed and can access the same old ripple wallet? Commented Nov 7, 2018 at 8:47
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Yes, that's correct. You can access the old keys at anytime by restoring your previous seed Commented Nov 7, 2018 at 10:14
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I don't know if the ledger supports this (it probably doesn't) but you can change a wallet's key without changing the address. That will let you use a different key/secret but still access the same address and its funds. Commented Jan 3, 2019 at 10:20
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1@DavidSchwartz You can probably convince the ledger to sign such a transaction, I'm actually exploring that for our exchange at the moment. I'll post an update here if I can get it to work. Commented Jan 3, 2019 at 11:28