Securing a Cryptocurrency Seed Phrase on Steel
View this post on Hive: Securing a Cryptocurrency Seed Phrase on Steel
5 years ago in #cryptocurrency by abitcoinskeptic (73)
$50.10
- Past Payouts $50.10, 0.00 TRX
- - Author $38.03, 0.00 TRX
- - Curators $12.08, 0.00 TRX
Woah... this seems pretty over the top for the seed phrase... and still a touch insecure. It's pretty interesting the lengths and creativity that people use to do this... I really like the 24+1 option that Ledger has... that way you can actually safely divide the 24/1 without compromising the sample space.
The 24+1 option is really great. Just make sure you leave something in the front that can distract anyone who gains access.
It would be annoying if you wrote down the 24 and forgot the 1, but it's a risk I'm willing to take. I can also write down my seed phrase in an encoded zip file or something like keeppass, but then again, I could forget that code, so best to keep the last word somewhere easy to find as well, but separate.
I'm wondering what you mean by a touch insecure? Sure someone can take it from you, but the idea is just to make it more durable. If you encrypt the words, leave one out, randomize them, etc. You risk forgetting how it is done. Perhaps you can save that info in the location you save the +1 word. I guess if you can just memorize the list, it would be really secure, but you still aren't safe from someone threatening you.
As far as durability, I've read that titanium rods would be better, but they are tougher to engrave on than a flat surface and a little expensive. Also the surface with the words would be exposed to abrasion. Stainless steel plates or tiatanium plates would be better than zinc coated, but all three are going to last quite some time unless stored in a really poor location. I think securing the plates together with bolts may be a touch better, but unnecessary. Also, if someone gets in they can just screw it back together. With ties, they will need new ones. Perhaps putting on a seal so you know if someone opened it would be best.
smart move. In the end your coins can pump 11000% but what is it good for if they are not secured. I've seen this in the last bull run. Friends who lost all their coins.
and the horrible thing is that those coins are still there, you can watch them being worth thousands of dollars but nobody will ever benefit from the value.
I've never lost anything, fortunately, but I'm careful. There will definitely be more sad stories. Also, it's really difficult to claim it is yours if you don't have the private keys.
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This is a pretty cool idea!
I thought so myself.
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