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Ledger Live Desktop is a progressive solution to crypto security and is perfect for a Bitcoin and Ethereum holder looking for a reliable cold wallet. How do I restore Ledger Live to a new device? So, restoring the Ledger Live on a new device includes reinstallation of the app and the connection of the Ledger hardware wallet, after which you will be asked for your recovery phrase. Then the app will sync and restore all accounts with their respective balances.