I open up a thread here: Something to pounder for crypto enthusiast regarding LA wildfire. Probably this could be a wake up call for the rest of us to have a good practice on how to protect our keys in case of a natural disaster like what had happened in Los Angeles.
There could be several, like having your private key stash somewhere outside your home, or maybe in safety deposit box in a bank. Because just imagine if you hide everything at your home, with your keys and your hardware devices, and the amount is more than your home itself. And then going home to see that everything is on smoke.
And you have been buying in the dip and HODLing it for too long.
There could be several, like having your private key stash somewhere outside your home, or maybe in safety deposit box in a bank. Because just imagine if you hide everything at your home, with your keys and your hardware devices, and the amount is more than your home itself. And then going home to see that everything is on smoke.
And you have been buying in the dip and HODLing it for too long.
Having multiple backup options for your keys is really a good move. You never know what could happen, so spreading them out in different secure places can really give you peace of mind. You just have be prepared for whatever life throws at us especially with how unpredictable natural disasters can be. Always make sure that you stay ahead of whatever comes. It's all about your long-term preparation and making sure that all the effort you have put into buying the dips and HODLing pays off. If one method fails, having your keys secured in different ways gives you that hope and assurance that your hard work isn't lost. It's a smart strategy to keep your investments safe.
I don't think this is a smart strategy at all, if you spread your wallet key in different places then it will be more likely to be noticed by different people. For example, I have written my wallet key in a notebook and I keep it in a safe place as it will definitely be safe from fire, water and natural disasters.
Whenever you store your wallet key in multiple places, if one copy of it is lost immediately then your wallet can be hacked but you will not know it. So it is never a smart strategy to store your wallet key in multiple places.
In as much as I would want to say you are correct I will also say or inform you that whatsoever that have an advantage will definitely have a disadvantage. However, the advantage of saving your wallet key in one place that is seed phrase in your notebook is that it can not linger or it can hardly be seen by another person which is very cool but the disadvantage is that once it is been misplaced or..., you can never get it back and assuming you don't remember any of your wallet details it means you have automatically lost the wallet but if you save your seed phrase in different places even if one of it is misplaced you can still access your wallet and again it is not everyone that will see something like that and start looking on how to access it. Lastly, it is not just about writing it on the notebook, when saving your seed phrase you have or need to be very wise when doing it, I mean one shouldn't save this kind of details in such a way that it can easily be read and understood by another person.