Topic: How to keep safe the mnemonic phrase - Whats Your method? - page 4. (Read 668 times)

But you should remember that electronic devices are easily damaged and you need to check them more often when storing using USB. It's best to write a copy down in a notebook and keep it where you feel safest. Also, I thought it would be good to share a copy with your wife just in case the unexpected happens to us. Every method has its advantages and disadvantages, we just need to choose the method that best suits us without having to imitate anyone.

One way to do it is by manually writing it down and keeping it safe from fires, earthquakes, or other disasters. Another method might involve using a steel plate and engraving the seed phrase onto it. For those whose families are not familiar with Bitcoin, you can add instructions on how to access Bitcoin using the written seed phrase hidden behind the medium.

As for my main balance wallet's seed phrase, I never store it online. For the wallet I frequently use for spending, I keep it in my phone's notes and sync it with Google. While this is not recommended, the small amount involved is a consideration to make recovery easier in case my smartphone gets lost or for other reasons.

In my own little way, I keep all the important things in my cryptocurrency on a USB flash drive; actually, three USBs, but the contents are all the same. I used to leave it on my desktop computer and on my cellphone, but later realized the disadvantage of this, so I moved everything on my desktop and cellphone to my flash drive.

At the very least, if something unforeseen occurs, such as typhoons, earthquakes, or home fires, I still have a USB that preserves all of the seed phrases, private keys, and so on. It is nonetheless important that we exercise caution in such instances.

Many have stored their wallet seed phrase in the best way and safely. The way I put my wallet seed phrase is safe for me but may not be safe for many people. I wrote down the seed phrase of my wallet in the notebook. I have it set to my Google Drive for extra security.  I know that even if my notebook somehow gets corrupted, the wallet seed phrase stored in my Google Drive won't. Because as long as I have Gmail I think I can safely recover my wallet passphrase. This method seems to be the best method to me.

Keeping seed phrase by hand writing is cool but in a sheet of paper it is risky because a sheet of paper us small that can get missing,  in a note book will be more preferable for a  wallet seed phrase to be stored. It is very common that people record vital details on a sheet and forget where it was placed because of how tiny it is but with a note book is very easy to get access to it even if the exact location. Written storage is one of the best methods of storing the seedphrase .

I think two places for two backups are enough as more places mean more risk. I agree with you that wallet seed backups should not be stored online. We can not trust third parties as well as there are more risks online than offline.

I have more than one wallet because store all money in one wallet is not good and my main capital is stored in a multisig wallet, not single signature wallet.

The dos and don'ts of bitcoin key management

About this, I am trying to avoid storing any of my mnemonic phrases online, all are only offline.
Another thing is store it also in multiple places, and the one down side of this is the risk will be higher if you store it on multiple places but at the same time you have more back up, just make it safe to be able not be access by other people.

Back it up in a safe place such as a safe and keep it protected from anything related to internet access. I wrote it in a notebook then laminated it well, made a QR code and made it like a card. Apart from that, the most important thing is to entrust a trusted person like my wife to have access if something untoward happens to me. Meanwhile, what my friend did was save it in a safe deposit box at the bank and appoint a lawyer to keep it in the hands of the heirs, but it requires tax payments every year. Everyone has their own way which they think is safe, currently I personally think my way is quite safe but it doesn't apply to other people. Checking to make sure assets are still safe, I open the safe and check it every 6 months.

If you can keep a piece of paper that contains your seed phrase or hell even laminate one for yourself, I think that it's the most effective way of safekeeping your mnemonic phrase. As for me, I assess the place where I live in, if it's prone to floods, earthquakes, fire or burglaries, if it ever ticks the boxes on my list then I would do some countermeasures on it. So far, the best thing that I have done to safekeep my phrase is to paste them in a code generator to encrypt them and then I am the only one that has the key to decrypt it, thanks to that program I am able to just store the decryption key even if I am really careless as to where I store my phrase because to others it wouldn't make sense even if they see it.

I understand your concern friend, at first that's what I thought when I first stored crypto, back then with the pocket money I had I was able to buy even though it wasn't much but it was enough to store at that time. armed with youtube and social media info on the wallet I chose, they also provide education on creating a wallet properly and security tips on keeping the wallet in some conditions is very helpful even though the main control is the owner, which means responsibility for actions that can damage even the contents of the wallet.

Many forum contributors have come up with the brilliant idea of writing on metal, paintings, walls or any other hard media that they believe will be safe for some time to come.

That's a good anticipation, but after I got to know airdrop my fears faded a little and thought of solutions, for example I always clean the cache, and revoke after accessing the web (of course by first analyzing some of its social media, always separate it from the main wallet to store the main assets, I personally am still loyal to writing on simple paper, can also later replace with new paper. today I still keep paper since 2004 since I was still in school proving that the quality of cheap paper is quite good especially coated with plastic laminating.

You can try the easiest or safest way with your current interests, as well as raw materials and your readiness to start making

noted you can also buy a hardwhare wallet example It's easy enough, and you can double-protect with your consent.

Password is not a universal solution, because it comes with a risk. Losing it means losing the wallet too, so you are increasing your chance of locking yourself out of your funds. Theft and hacks are not the only danger, accidental loss of keys is probably a more common threat.

I didn't know about this but this seems to be really risky. But that's what is trust for and they're direct related so it's no issue which others can just copy this if the father is technically aware of how to do things in keeping wallets safe.

No need to complicate things, all you have to do is what mk4 has already. There's no need to think of conventional method or way of keeping your mnemonic phrases.

But it's you, whatever works for you and whatever the the results of it, you're the one who's responsible for it.

Mine is I write or print my mnemonic phrase on a piece of paper and then I will laminate the piece of paper to make it durable compared to paper only and second is I use my other mobile phone to make a back up. My other phone is I never uee it to connect to the internet and it is only use for offline and playing offline games. As of now, I never experienced something inconvenience like someone stolen my funds or someone have access to my wallet.

Personally, I saved my seed phrase in a secure place online, as well as somewhere I assume no one can obtain it, so that if you mistakenly lose the other one, you can still open the wallet. We can't control natural disasters like typhoons, which are common in my country.

Because typhoons can cause flooding, I shall keep my phrase on an elevated location. If I am not at home when the flood occurs and our house is damaged, I am not too worried since I have a different place where I keep my wallet, which is online. I wasn't concerned about actual theft because they normally didn't know as long as you didn't tell people you had Bitcoin.

Ironically it's probably putting it on encrypted usb stick in a safe vault of a bank containing your private key or a wallet.dat with a password. I say ironically because bitcoiners were famously against banks. At least some were. Or instead of usb, you can use that metal keycard you talked about, or Ledger nano X or
Ledger Nano X or Trezor.

Carrying them yourself is just dangerous.

Or you can do what Vitalik did with his wallets. He gave half of the privatekey of one of his wallets to his father. I see that as risky.

My way is against crypto ethos and i am storing mine in a trusted exchange. I see way more plausible that i would lost it if i guarded it by myself.

First of all saving them with a those names you just stated will simply make them a bit difficult to understand when decoding them, you can trust your mind during its early stages of using this names but ones it gets long you could end up missing them together and there by making mistake of there order. This is similar to using colors to designate them and it is also not advice due to mixing them up

The idea of a google drive is also not available because it is as same as storing them on your Gmail. Once anyone gets access to them they could see it there. The best way is to take away from any online platform

Since this has to do with storing your seed phrase physically then I would prefer to write it down and add some code-name in my native language in the beginning and ending of the seed phrase, then keep one of my seed phrase in the house where I stay and the other seed phrase in my village.

But let's say for instance, after keeping the seed phrase there, in those two places, I will still want to have it somewhere so that even if I travel, I should still be able to access my seed phrase. So I think the best way I can do this , is to have it on my Google Drive. But of course it's going to be encrypted and at the same time it will be stored with any of my Bitcoin address or, with the use of some simple alphanumerical characters. I will definitely activate the two step verification on my Google so that I am notified once there's any security breach attempts.

That's a good question, actually this have been discussed due to the recent events of floods, earth quakes etc. Best practise is to avoid stealing of seed phrase is to encrypt your seed phrase and then keep it anywhere, because a single non technical dude can not decrypt that seed phrase and you will be saved.

From disaster, you have to keep the seed phrase in another place like far from your own phrase. Maybe store the seed phrase in another region, city or where you think the disaster will not make any impact and you can access it easily.
Many users prefer to keep them online because that's the longest way to preserve them and if you have selected a drive or I line cloud storage that have distributed storage devices and have auto saving or cloning options then that better then storing on paper. But many will not agree with me.

That's why keeping on areas where you're the obviously person that will know it is a must. While keeping it on a metal keycard, that's one of a disaster proof but also you need to make it as if it's not an obvious passphrase that you've written there. A metal card o dog tag is like a good one that you can count on in terms of disasters. But as you have said it's not thief proof. The only solution with that is to make back ups that you'll only understand and only you know where you can keep it safe inside your house.

Every backup technique definitely has its just that it is minimal to compare to each one.

The first thing is to never store them on an online device like saving a picture on your phone or system.

The second thing is never make many duplicate of your Phrase because it will just make them redundant and will easily expose the storage location of some.

When it is stored on places like usb make sure the device is regularly changed because of wear out.

If it is a large amount stored then I would advice a the use of multi sig wallet but the creation shouldn’t from a single or master key. It should be single seed for every co-signer