Myth: "My Coins are Inside My Ledger." Reality: Your coins never leave the blockchain. Your hardware wallet is just a physical key that stores your Private Keys. Think of the blockchain as a glass vault in the middle of a city.

Everyone can see the money inside, but only the person with the physical key can open it. If you lose the device, the money is still in the vault; you just need your 24-word recovery phrase to make a new key.