If the contents Nano S can be resoted with the 24 word phrase , then how does the new nano S recognize the 24 word for restoration ? Where does the sync happen in case of a theft or lost ? I am not clear. Please explain
OK, so do you know about Bitcoin private keys? If not, this article will explain what they are and how they work:
So your seed phrase is just a private key in a human-friendly format, i.e. words. By using this convenient method to restore your private key into a new wallet, the wallet is given access to all the addresses controlled by the old wallet. There’s no sync which occurs, it’s just a case of being able to spend from those Bitcoin address if you have the private key which “unlocks” them.