Post
Topic
Board Hardware wallets
Re: Storing Seed in Trezor Password manager itself?
by
sergio
on 22/08/2020, 20:02:49 UTC
This is my recommendation for security, do not store the seed directly on trezor password manager if you have lots of funds.

A better method is to store the seed encrypted locally on a secure physical location that you control, and on the trezor password manager store the password for the encryption.
That way if the trezor password manager has a vulnerability which could happen, your seed is not compromised, only the password to the encrypted file is compromised, however since they do not have access to the encrypted file you are still safe and now have time to create a new encrypted file with a new password.

Extra work, however you have an additional layer of security which is needed, in addition on the trezor use a passphrase which is critical, since Trezor has be psychically hacked, however the passphrase is not stored on the trezor which is a needed level of security for physical theft.

I personally like the Trezor T a lot, but I also use the Trezor one since sometimes I had trouble with trezor T which I never had with Trezor one when dealing with u2f.

My approach for security is to have several secure wallets, trezor ledger and coldcard, being coldcard the most secure, and Trezor the most user friendly.

The coldcard has a method to encrypt the seed into a file which is great, then store the 12 word passphrase to decrypt the file on trezor password manager, and do not use a computer to handle the encrypted file since you could have a virus especially in windows, use the coldcard to handle the file, and the seed can also be used on trezor or ledger.

Many of my hardware wallets where on a safe on Mexico and they were stolen by the Mexican police and military, however I had backups so I am safe, and they completely failed at hacking them, luckily for me I was not there when the theft took place, it was 15 guys army and police in mexico armed with machine guns.
That shows that hardware wallets are very safe.