Topic: What is the best way to store your seed phrase? - page 4. (Read 1410 times)

There's nothing brilliant about the idea. When it comes to seed phrase complexity should be avoided at all cost. Going the extra mile to interchange the words is not good because he could mess things up and might not be able to remember the correct words combination again. Instead of subscribing to the above seemingly brilliant idea, I'd rather split the seed phrase into two and keep them in separate locations. Though, this is not how I stored mine.

Seems to me the best way to store a seed phrase with a hardware wallet would be write your seed phrase down twice and break it into 2 parts.  Also make sure you have a passphrase for the hardware wallet.  Now you open 4 safe deposit boxes at 4 different banks.  But do so in a way where the banks are a bit far from each other... like make sure it isn't 1 mile within each other at least but preferably a lot farther away like 5 miles.


Now you put 2 copies of the 1st part of the seed phrase at 2 different safe deposit boxes at different banks.  You then put the other 2 copies of the 2nd part of the seed phrase at 2 other safe deposit boxes at 2 different banks.  You then write down your seed phrase in a piece of paper in your apartment or house.  You also enter it in a password manager that you save to a usb and the cloud.  



OR


Do the same thing with putting 2 copies of the 1st part of the seed phrase at 2 different safe deposit boxes at different banks.  You then do the same with putting the other 2 copies of the 2nd part of the seed phrase at 2 other safe deposit boxes at 2 other different banks.  You also then make 1 copy of the 1st part and 2nd part of the seed phrase for you to store at your apartment in different locations.  This time however, you only enter the passphrase to a password manager that you save to a usb and the cloud but make sure you don't write the passphrase on a piece of paper in your apartment or house.  You could also make a 2nd usb flash drive and give it to someone close to you and tell them to hold it as a backup in case something happens to your usb flash drive or something happens to your password manager in the cloud accessing it.  


You could put another usb in one of those safe deposit boxes you are using but if you do that... well you are increasing your risk since if someone got access to one part of the seed phrase and has that usb... if they somehow get into your password manager... then they have 2 out of the 3 parts of it.  So say imagine the government was to seize your safe deposit boxes, well then they have access to your seed phrase and your usb with the passphrase in your password manager in the flash drive.  Now could they always hack into it if they have your flash drive?  Or the only way would be to tell you to reveal what your usb passports is and/or the password manager password?




Would you say the 1st option is ideal?  What about the 2nd option minus the putting another usb drive in one of your safe deposit boxes?

wow that is even best way to keep them safe mixing your 24 words phrase , but my question now mate is what if one day you have come to sickness in which you cannot remember anything , who will inherit your funds knowing that you are the only one that knows the right combinations?

I think we're just talking about how and where to safely store seed phrases. Whether we share the seed phrase or seek to pass it on to family members is another story.

Maybe as a example:  Set up a website with a couple of pics and enter the seed phrase in single words in the EXIF Data for example.  If you keep your mouth shut that this webpage even exist, this should be quite safe...

wow that is even best way to keep them safe mixing your 24 words phrase , but my question now mate is what if one day you have come to sickness in which you cannot remember anything , who will inherit your funds knowing that you are the only one that knows the right combinations?
sorry for asking this mate because I'm just concern bout your hard earned crypto that might be gone in the air if that happens.

I personally wrote mine in a piece of paper and then keep it in a safe place. I also mixed those 24 words that only me knows the exact combination. I am actually planning to acquire a gun safe and I'll put it there though not right now but maybe soon when I have extra money.

The idea you Ave mentioned is great as it will keep the seed phrase safe and I would probably think of t if I am hodling a huge amount of crypto in a particular wallet. But at the moment it's too much of an hassle for me and as a person who had already lost seed phrase of blockchain wallet in the past by writing and keeping it somewhere I have started a simple strategy of sharing the seed phrase from my personal email to alternative email so it's there in two separate places and also uploads the same in cloud.

Maybe as a example:  Set up a website with a couple of pics and enter the seed phrase in single words in the EXIF Data for example.  If you keep your mouth shut that this webpage even exist, this should be quite safe...

Just my thoughts about this

The 12-24 word seed phrase etched on a steel sheet, with 2(not split up) copies, in 2 separate locations that you have easy access to, and packaged in a way where you know if someone has gained access to either of these steel sheets; plus using a secure passphrase. That should be more than enough. Less complexity, less chance of error.

Also, personally not a fan of digitization.

It may vary in location. one can keep it in a pen drive, one can keep it in his pc or smartphone, and one can write it in a diary. But the whole purpose is to store it safely because if we don't have the wallet key, there will be no wallet and no bitcoins.  So a non-custodial wallet should be used to keep bitcoins safe and the wallet should be kept private.  I use 2 methods one is to write in diary other way is to keep in pen drive. So op you can use method according to your convenience

It is estimated between 4 to 6 million bitcoins have been lost forever because people lost the physical copy of their seed phrase. So I don't agree that storing offline is necessarily safer, at least not for me.

Storing online can be a safer option depending on how you do it, also depending on your specific needs and situation and technical ability.
For example billions of people use password managers to store extremely sensitive password information which are rarely if ever hacked.

With that kind of track record that tells me password managers are generally pretty safe. But some are better than others,  
Do your own research but in general I would only use password managers that are fully open source and reputable.

Always make sure you use bitcoin's hidden wallet or passphrase feature (always stored separately from your seedphrase) so in the event someone ever gets a hold of your seedphrase
it will be useless to them without knowing the passphrase.  You can even have both a physical copy and online backup of your seed phrase.

It may vary in location. one can keep it in a pen drive, one can keep it in his pc or smartphone, and one can write it in a diary. But the whole purpose is to store it safely because if we don't have the wallet key, there will be no wallet and no bitcoins.  So a non-custodial wallet should be used to keep bitcoins safe and the wallet should be kept private.  I use 2 methods one is to write in diary other way is to keep in pen drive. So op you can use method according to your convenience

You should know that any online application is risky option to store your private key since there are great minded hackers could penetrate that also we don't know if the owner of the platform will perform that hacking without us or any other people knowing.