![]() Some people suggested safety deposit boxes, though there’s some debate about how safe those are. I have another set of plates in a separate geographical area, in a trusted location, should I completely lose access to my main location.Reddit user doesn’t have recovery seed and is forced to perform trezor firmware update In fact you should treat your hardware wallet as a disposable, fragile device which can be lost, destroyed, or wiped out any time, but can be replaced with a small amount of money. Properly securing and storing your recovery seed is much more important than securing your hardware wallet.Reddit thread on metal survivability to house fires, Blockplate fire survival video, ColdTI Torch video, Stamping and fire resistance of brass, copper, aluminum. This means it can survive even a sustained, severe house fire. The current 316L stainless steel design has a melting point of 1400-1450 ☌.This means keeping your recovery seed plates out of sight is extremely important.Why I don’t trust myself to use a passphrase on Trezor I don’t trust myself to remember this password 10 years down the line. On the Trezor, there is an option to have an additional password, but I didn’t enable this option. By default, the 24 word recovery seed is the only thing required to access private keys.Why you must test your recovery seed before sending large amount of funds Don’t expect an “untested” recovery seed will save you the day you need it. And repeat this every time you duplicate your recovery seed onto a new medium. Do this before you send large amounts of funds to the hardware wallet. Once you’ve written down, or stamped the recovery seed, wipe out your hardware wallet, then restore it to ensure you’ve copied the recovery seed correctly. You MUST practice recovery of your hardware wallet.Never write your seed onto an electronic device You may write it down on paper temporarily in a private location, until you have a chance to secure the materials for stamping on metal. It should never be typed onto a desktop computer / smartphone as those environments are vulnerable to hacking by malware. The recovery seed will be shown to you ONCE on the screen of your hardware wallet, but never leaves its memory. NEVER enter your recovery seed into any electronic device, file, website, or even a password manager.Do not ask someone else to stamp it into metal for you. You must be the only person to see your recovery seed.Losing or destroying your hardware wallet would not affect you in any way, as long as you safeguard that recovery seed, you will still have access to your funds. This is the passphrase that you will stamp onto a plate of metal to preserve it for decades to come. Properly securing that passphrase is the most important step of the setup. During the setup of your hardware wallet, you’ll be asked to write down a 24 word (BIP39) passphrase (the “recovery seed”).Do not use the hardwaret wallet if it comes with a scratch-off card!!. Make sure to buy your hardware wallet from an official source. WARNING there are hardware wallet scams ongoing Guy buys a Ledger Nano wallet on Ebay, and it steals all his cryptocurrency ($34,000, which is his life’s savings).A hardware wallet allows you securely receive and perform crypto-currency transactions even on a malware-infested computer. The only sane way to store bitcoin / other crypto currencies is using a hardware wallet.Centralised Exchanges Are Terrible At Holding Your Money You will not get your coins back if that happens. Someone could impersonate you and steal your funds within minutes, while you are sleeping. Holding your coins on an exchange, even a reputable one, even with 2FA enabled, is risky.Big Crypto-currency Titanium Recovery Seed.Small Crypto-currency Titanium Recovery Seed.Order titanium plates from Calti Wallet:. ![]() I’m open to feedback on this, please email Full disclaimer: I have an affiliate link for Trezor below. This page is meant to list conventional best practices on hold to hold crypto-currency in an secure manner. 51 BTC locked up, can’t remember seed/passphrase.Lost Electrum password holding 10.5 BTC.My $200,000 bitcoin odyssey, How I recovered cryptocurrency from a broken laptop.Bitcoin stolen from wallet even with 2FA activated.I Forgot My PIN: An Epic Tale of Losing $30,000 in Bitcoin.Lost 900 Ether due to incorrect use of password manager.The hacking risk is still to be taken seriously and the measures describe here help mitigate that risk as well. It’s so incredibly easy to lose access to your private keys. The number one risk when investing is not hacking or security flaws, it’s user error. How to securely store Bitcoin and other Crypto-CurrenciesĪfter following Bitcoin and Cryptocurrencies for a few years, one thing became very obvious to me. ![]() Recovery Seed Steel Plates for Crypto Currencies ![]()
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