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Author Topic: Seedphrase security - Pros and Cons of offline storage  (Read 312 times)
Texac
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October 15, 2023, 09:41:11 AM
 #41

Holding Bitcoin in a hardware wallet, you back up your seed phrase by writing all the words in a paper or steel plate: you will complain like you pointed out in your thread.

Holding Bitcoin in a hardware wallet, you back up your seed phrase by writing few parts in a paper or steel plate: you will complain if there's a chance you will lose one of your back up.

Holding Bitcoin in a centralized exchange: you will complain the exchange can go bankrupt and it's not safe.

So pick your own way to hold your coins and how to access it!


Every method will have its pros and cons, and the unexpected is something we can never predict.  so choose whatever method you think is most suitable for you, don't listen to or imitate others because we are not in the same situation.  many people don't seem to like the OP's method of storage, but if the OP feels that method is safe for you, then you should continue. I'm also storing my seed phrase using 2 USBs, and I've been safe for years now, I have no reason to change my storage method just because of other people's opinions.

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October 15, 2023, 01:02:12 PM
 #42

A passphrase is any word and/or number combination you make up yourself. As long as your passphrase is stored only in your head it will be impossible for anyone to know what it is.
This is also known as a 25th word (or 13th word if using 12 word seed).
It looks fine when you're still healthy, but if you suffered a brain injury regardless what the causes e.g. getting old, accident, crash etc, using passphrase isn't safe anymore. Imagine you're the only one person who know the last word, there's no back up and you can't do anything except let it go.

Brain Injury Awareness Month is a major event in the public health space. There are more than 5.3 million individuals in the United States who are living with a permanent brain injury-related disability. That’s one in every 60 people. At least 2.8 million Americans sustain traumatic brain injuries in the United States every year. As a result, Brain Injury Awareness Month rallies a large community into raising awareness and advocating for causes they care about.



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October 15, 2023, 01:58:33 PM
 #43

The amount of bitcoin you are holding should determine the level of security you should be worrying about, like me I don't get much disturb over my seedphrase as I do have about 2 flash drive where I print it as pdf and get them stored inside. Also stored them in my system and including my phone, that is, it could be very hard for me to misplaced them or someone got them touched hence, putting myself into pressure is something I wouldn't do because I don't have upto 1 btc or even thousand of it to get myself so much worried about security.
Like a user suggested above, to create about several mails to send them in parts whereby no one knows about it even though they succeeded having access to one mail the rest will be untouchable meaning your security is strong. Note if you forgot the passwords of those mails then your funds is losts especially the main mail you used in sending out to the rest mails.

If you use flash drives and phones to store seed phrases, you need to know that electronic products can fail at any time without prior notice to you. So you need to check them regularly and replace them promptly if one of them is broken. Furthermore, storing them on your phone is not a smart idea because what if someone can access your phone? Or your phone suddenly breaks down and you won't be able to access it.

No matter how much or how little bitcoin you own, it is your money and property, you should cherish it in every way. It may only be worth a few thousand dollars now but could be worth $1 million in the future if bitcoin increases in price.

Yeah that was why I said earlier i have them stored in several places, and again for additional security purposes I planned to print them out as hardcopy to get stored in my file storage where I have my other important documents. This is another way although if you don't indicate any note that mentioned about BTC non would know that idea is your bitcoin seedphrase.. Also most times I do insert my flash drive to my system to regularly check them to know if they are properly active and working effectively before I had this idea of printing it out as hardcopy file.

Yes, I think it would be safer to have an extra backup as the text for your seed phrases. As Fundamentals Of said and I agree with him that no method is 100% safe. I know people have many methods, but for me, I still like to write them down in a notebook and store them in the place I think is the safest instead of using other complicated methods. I really don't like the OP's method of online storage, but I find it's not too bad.

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October 15, 2023, 03:10:23 PM
 #44

-Do not share your seedphrase with anyone.expect friends
Unless extremely trustworthy, you shouldn't share information such as the location of your seed phrase with anyone. Let alone the seed phrase itself.

Besides, the only case when a thief that enters your home is going to steal your seed phrase is if they are specifically targeting you for your bitcoins which means you shouldn't let anybody know you are storing your coins this way!
That is so underrated feature. You can't steal someone's bitcoin if you merely break into their house. There are nearly infinite ways to hide a seed phrase if you're creative. The thief must force you to give them permission.

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