This article provides step by step instructions on how to recover your cryptoassets if your Trezor Model T, Trezor One, Ledger Nano X, or Ledger Nano S hardware wallet is lost, stolen or damaged.
If your hardware wallet is lost, stolen or damaged, you can easily and securely recover all of your cryptoassets, as long as you have access to the 12, 18 or 24 word recovery seed.
All of your cryptocurrency is actually stored on the collective Blockchain network. The hardware wallet stores the recovery seed that you backup offline, on paper or much better yet on a stainless steel recovery seed backup device.
If you no longer have access to your hardware wallet, you can import the recovery seed into another wallet and you will regain access to all of your accounts, balances and transaction data.
If your device is damaged and you still have access to it, then there is no risk of the recovery seed being compromised. Ledger and Trezor products come with warranties and you should be able to get a free replacement, especially if you purchase from an Authorized Retailer.
In this case, you can just recover your cryptoassets by importing the recovery seed into the replacement hardware wallet.
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https://blog.trezor.io/broken-hardware-wallet-dont-panic-602d23090341
Hardware wallets are the only thing you need to secure your Bitcoin, but that doesn’t mean they are a single point of failure should yours get lost, damaged or stolen. In this guide, we’ll cover how to make sure that a broken hardware wallet doesn’t spell the end of your hodl. Thanks to industry-wide backup standards which SatoshiLabs helped create, you should never need to fear losing your funds.
Remember, your Trezor holds the keys to your cryptocurrencies, not the coins themselves. The coins persist on the network and you need access to the keys to move them. As long as you have your 12 or 24 word recovery seed backed up in physical form, you can always regenerate your keys, even if your Trezor is out of service.
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