Post
Topic
Board Beginners & Help
Re: How I planned to keep my keys, good or stupid?
by
witcher_sense
on 11/04/2022, 08:57:42 UTC
Is this too much or not bad? I plan to keep my recovery keys in four separate locations, a brand new flash memory from Huawei, a brand new WD External hard drive, my book with a strong cover and my wardrobe, in my wardrobe you can't easily see it because its always dark in there, I use my torchlight to carve those words in there and its even written on the top inside the wardrobe, I tend to keep it this way for now till I can get a Nano X.
And what will change once you finally get your hardware wallet? Do you realize that a hardware wallet is just a means of transacting and not a way to protect your keys from accidental losses? When you take all your backups and import them into a hardware wallet, you usually don't destroy them completely but instead, keep them even more carefully to be able to restore access to your keys should a hardware wallet gets dysfunctional. It is great that you recognized the importance of distributing your keys across different locations, but you have to realize that for this strategy to work properly, these locations should also be distributed geographically, not just locally inside your house.

Also take into account that while each additional copy of your seed minimizes the chances of losing your keys, it simultaneously adds to these chances because a hacker could find one of your copies and steal your crypto. You should find a balance between security and convenience. A hardware wallet itself adds another point of failure to your setup: if physically accessed by a malicious actor, it can theoretically be used to steal your funds without the need for your other backups.