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Hi – your concern is valid and it’s great to see you thinking about the long-term security of your assets. The 25th word or passphrase is an advanced security feature that adds an extra layer of security to your 24-word recovery phrase. This feature is not exclusive to Ledger but is part of the BIP39 standard, which is widely used in the industry.
If Ledger were to cease operations, your assets would still be safe and accessible. You would need to find a wallet that supports BIP39 with a passphrase. While it’s true that not all wallets support this feature, many do, including some software wallets. Always ensure that the wallet you choose is reputable and secure.
Remember, your 24-word recovery phrase and the passphrase (if you have one) are the keys to your crypto assets. Keep them safe and never share them with anyone.
For more information on how Ledger generates the 24-word recovery phrase and the use of passphrase, you can visit these articles below:
– https://support.ledger.com/hc/en-us/articles/4415198323089-How-Ledger-device-generates-24-word-recovery-phrase
– https://www.ledger.com/academy/passphrase-an-advanced-security-feature
Feel free to reach out should you’ve any other questions.