hardware wallet vs seed plate

[seth427]

So as I understand it, my seed is my extreme backup if all else fails i can access my btc again anywhere anytime with my seed words. Then my hardware usb device is a functioning device for signing transactions, i can use it to send money from my encrypted wallet that has my seed stored in it

[_act_]

Yes, that is true. But you really need to construct your sentences appropriately.

You can access your coins if you have your seed phrase. You can use your hardware wallet for making transaction. That is what you mean and it is true.

[sunsilk]

So as I understand it, my seed is my extreme backup if all else fails i can access my btc again anywhere anytime with my seed words. Then my hardware usb device is a functioning device for signing transactions, i can use it to send money from my encrypted wallet that has my seed stored in it

That's right. And that's why it is advisable to have a hardware wallet because without that, no signing or confirmation for the transaction to proceed.

Unless someone has got your seed phrases, they don't need to have any hardware wallet to access them and can still steal your funds by exporting it.

So, be careful about how you keep your seeds because it's the most important thing that you have for your funds.

[NeuroticFish]

So as I understand it, my seed is my extreme backup if all else fails i can access my btc again anywhere anytime with my seed words. Then my hardware usb device is a functioning device for signing transactions, i can use it to send money from my encrypted wallet that has my seed stored in it

A hardware wallet is useful for signing your transactions safely, decreasing significantly the chances some hacker steals your coins. Internally your hardware wallet works based on your "wallet seed" (to say so and to keep it simple) which it will usually show you only once, when you create a new wallet (like a reset to factory, but which creates a completely new seed).

A hardware wallet is an electric device that has a limited life span (someday will stop working), so for your coins' safety you need to keep the wallet seed safe and offline/physical. Depending on people's preferences some save it on steel plate. Yes, it's fire proof, but if you need somebody else to engrave it you have already a problem (you should not give the seed to anyone, you know that, right?) and a seed plate stands out more than a piece of paper. On the other hand, many just cannot be careful enough with just a piece of paper.

[BitMaxz]

So as I understand it, my seed is my extreme backup if all else fails i can access my btc again anywhere anytime with my seed words. Then my hardware usb device is a functioning device for signing transactions, i can use it to send money from my encrypted wallet that has my seed stored in it

It looks like you didn't understand how to use the hardware wallet to sign a transaction. If you are using a wallet that has your seed stored, then you don't need the hardware wallet to sign because it won't ask for hardware wallet to sign a transaction.

You need a watch-only wallet to create an unsigned transaction, not the wallet that still has the seed stored, because the hardware wallet is the one that will sign the transaction.

Don't forget the seed phrase is your backup that you need to store safely, and it must be private, and don't share it with anyone. You can use it in the future to recover your wallet.

[sheenshane]

So as I understand it, my seed is my extreme backup if all else fails i can access my btc again anywhere anytime with my seed words. Then my hardware usb device is a functioning device for signing transactions, i can use it to send money from my encrypted wallet that has my seed stored in it

I have a bit of confusion regarding your question, so to clarify, here’s my explanation.
Your hardware wallet (USB device) does not store your seed phrase in an encrypted wallet.
Instead, it utilizes the seed to generate and securely store your private keys within the device’s secure hardware.
The seed phrase itself should only be kept offline, typically written down physically, and never stored digitally, especially not on a computer or online, as that would possibly compromise your security.

In short, the seed phrase serves as your offline backup.
The hardware wallet securely holds your private keys and signs transactions without exposing them.
Always remember this as a golden rule of crypto: "Not your key, Not your coin".

[btcltcdigger]

Hardware wallet is just a physical push button that needs to be clicked in order for the app to send the transaction.
And it's own wallet is nothing special, as you can import it anywhere and vice versa. The magic is in that button, which can't be pressed remotely

[Perfectbaby]

Re: hardware wallet vs seed plate

From your title I would say that your seed plate is for storage, like your keys have to be engraved or stamped on those plates and then you can store it at a safe place, this helps you to prevent water or fire damages when you store your seed phrase on your seed plate. Then your hardware wallet is to receive funds, you create a public address from it and send it to someone who is to send you payment or Bitcoin to the address you would generate from your hardware wallet.

[BlackBoss_]

A hardware wallet is an electric device that has a limited life span (someday will stop working), so for your coins' safety you need to keep the wallet seed safe and offline/physical. Depending on people's preferences some save it on steel plate. Yes, it's fire proof, but if you need somebody else to engrave it you have already a problem (you should not give the seed to anyone, you know that, right?) and a seed plate stands out more than a piece of paper. On the other hand, many just cannot be careful enough with just a piece of paper.

Everything has its lifespan even metal plates that can be destroyed in catastrophes so having proper backup methods is very important and it is vital to have multiple backups rather than only one backup. As said, in case one backup is damaged, you will be able access other backups that are usable for your wallet recovery.

This advice is applicable for all backup methods, not only for hardware wallet and seed phrase backup.

How to backup a seed phrase.