Multiple backups in different locations (countries) are better than 1

[m2017]

It's no secret that it's essential to back up your seeds, and in different places (either within a given location). I'd like to develop this idea a bit further. In my opinion, it's not enough to simply save a few seeds in different locations; you need to save several different seeds in completely different locations (preferably across countries). This is what will give you that very “financial freedom”.

For example, you have seed №1 with you, entered on hardware wallet. You duplicate this seed №1 and save 2 or 3 backup copies in different locations. At the same time, you create seed №2 and seed №3, which you place in other locations (preferably in other countries).

Important note: You keep the addresses (preferably several) of the wallets in seed №2 and seed №3 (or use them to conduct small transactions to save them in your transaction history).

Now, if a threat arises (stealing, confiscation, robbery, or difficulties with transportation hardware wallet across the border) when you have a hardware wallet (seed №1), you send the wallet contents to address seed №2 or seed №3. Once you reach location seed №2 or seed №3, you gain access to your savings.

[BattleDog]

Yeah, spreading backups across countries is the politically correct move. Just remember every extra seed is another thing to leak or get photographed. If you can, make those destinations a simple 2-of-3 multisig split across jurisdictions so one thief or one grumpy border agent can't ruin your week. And if you stick to single-sig, keep the BIP39 passphrase nowhere near the seed, different place, different person, different everything.

Don't count on "I'll just send coins at the airport." Instead you should pre-wire it - watch-only at home, to a known destination and PSBT ready if needed.

[Stalker22]

Hey, just thinking out loud here, could you get a similar setup going with just one seed phrase and a bunch of passphrases?  Might be a bit simpler.

Like, you have got that one 12 or 24-word seed phrase (your "Master Key").  Keep that safe in a couple of places (preferably in other countries). This is your ultimate backup.  Then, you use Passphrase A (like, MyMainWallet) to get into your main, everyday hot wallet (think of it like Seed #1). Thats the one you take with you.

Use Passphrase B (maybe MySafeWallet) for a totally separate, secret wallet (sort of like Seed #2). You dont touch this unless things go south.  You could even throw in Passphrase C for another wallet, and so on.

So, you get the same separation in terms of location and transactions, but without the headache of dealing with three different seeds.

[Solosanz]

Imagine you have to travel for 12-24 hours and spend a good amount of money just for a sake of access your Bitcoin.

Even though it's good to spread our seed phrase, but if it takes a good effort and time to access it, I don't think it's a good idea. Across countries is too much, I think the maximum should be across city, you still have to spend time and money, but not that much.

If someone want to spread their seeds across countries, they need to be a multimillionaire or billionaire who have no problem with money, they can create a business or buyout a bank to hold their seeds.

[Stalker22]

Imagine you have to travel for 12-24 hours and spend a good amount of money just for a sake of access your Bitcoin.
~

You dont "have to".  I think its meant for extreme emergencies.  The wallet seed stored internationally is for situations you hope to never happen. A worst-case scenario.

Imagine living in a country affected by war, such as Ukraine and Palestine are right now, or having your hometown completely leveled by a natural disaster, and you have to evacuate your family in a hurry.

[Beparanf]

I created a thread(https://bitcointalk.org/index.php?topic=5564873.msg66023087#msg66023087) related to this topic recently on our local board due to the devastating typhoon hit us today and few days ago that resulted to massive flash floods that destroyed many houses.

I’m doing this multiple back up on different locations because we have different houses located on separate provinces but the challenge is almost all locations in the Philippines is prone for typhoon so we are thinking about the best possible way to backup physically our seed phrase that can work against typhoon effects.

[Churchillvv]

I will only talk about the locations part that my most concern just like the first comment, you can use a 24 word seed phrase and split them into different location but in terms of country as separate location I believe it’s too much, maybe maximum is across borders but normal could be across different states, minimum probably across communities but making it international is too much in my opinion.

[Mrbluntzy]

This idea is too much, first, what I'm thinking right now is what amount of Bitcoin can someone have before they do this, because what to consider is the transportation fee it will cost someone to travel down to another country to save their private key or seed phrase in that country. For someone that just have $1k worth of Bitcoin, it's not going to be easy. Another thing is death crises, what if the wallet owner died accidentally, his people might not be able to retrieve his Bitcoin. I would prefer to just securely save my private key in different locations or states but same country because that will be very easy when you want to retrieve the asset.

[BitMaxz]

You just make things more complicated.
How can you place these two seeds in another country?
Not everyone could go to another country; flight tickets are too expensive just to bring these seeds to another country.

If your purpose is to protect your seed, then there are many ways to do that much easier and safer without going outside your country.
How about your house? You can hide these 3 seeds anywhere in your house without too much hassle than going out of your country.

[Felicity_Tide]

This scenario might only work well in a situation where the person has different houses in different locations. The idea is not just about having your seed phrase across different locations, but it is also about having them in a secure spot. Whether we like it or not, security matters a lot, infact, it is better to have a single location of storage that is far more secure, than to have multiple locations with less security.

And this is also well applicable to those who have large amount. Users with little amount might not need to adhere to this idea. And like I said, different locations must be a safe spot.

[Smartprofit]

It's no secret that it's essential to back up your seeds, and in different places (either within a given location). I'd like to develop this idea a bit further. In my opinion, it's not enough to simply save a few seeds in different locations; you need to save several different seeds in completely different locations (preferably across countries). This is what will give you that very “financial freedom”.

For example, you have seed №1 with you, entered on hardware wallet. You duplicate this seed №1 and save 2 or 3 backup copies in different locations. At the same time, you create seed №2 and seed №3, which you place in other locations (preferably in other countries).

Important note: You keep the addresses (preferably several) of the wallets in seed №2 and seed №3 (or use them to conduct small transactions to save them in your transaction history).

Now, if a threat arises (stealing, confiscation, robbery, or difficulties with transportation hardware wallet across the border) when you have a hardware wallet (seed №1), you send the wallet contents to address seed №2 or seed №3. Once you reach location seed №2 or seed №3, you gain access to your savings.

In my opinion, the COVID-19 coronavirus pandemic has shown that air travel between continents can be suspended at any moment. There are other examples where people suddenly lost the ability to travel from one country to another. For example, this happens during wartime and the mobilization of the male population (and, to some extent, not only male). All sorts of restrictions on transnational travel can be imposed for other reasons.

Therefore, in my opinion, storing Bitcoin wallet seeds in different countries is certainly possible, but it's not a panacea.🤷

In my opinion, Bitcoin wallet seeds should be memorized (while not neglecting other methods of storing this valuable information). In some situations, memorizing a seed is practically the only way to transfer this information across borders. Unfortunately, sometimes this is true...🙇

[osasshem]

If this is done because of the worse case of natural disaster or war, then I'll say there's a worthy reason for that kind of backup, otherwise I don't see it as a better way of backing up personal seed phrase across countries.

I know everyone has one thing that makes them do things the way they do, but traveling for no serious reasons on air or water by me is a no no, for air, the cost of ticket could be expensive, but I don't value the height and the discomfort.

I support the part of having different backups across cities, not countries.

[Bitcoin Smith]

Technically it is better than keeping it in two different house on the same town but what are the odds of having three safe house in three different countries? I don't have that much money to go that way but if someone is holding thousands of bitcoin can try which is safer option and can ensure the funds can be accessed even if you lost access to your wallet from one country.

But it's bit of overstretch, I doubt anyone will give that much priority and move across oceans.

[Ronsbit]

This idea is too much, first, what I'm thinking right now is what amount of Bitcoin can someone have before they do this, because what to consider is the transportation fee it will cost someone to travel down to another country to save their private key or seed phrase in that country. For someone that just have $1k worth of Bitcoin, it's not going to be easy. Another thing is death crises, what if the wallet owner died accidentally, his people might not be able to retrieve his Bitcoin. I would prefer to just securely save my private key in different locations or states but same country because that will be very easy when you want to retrieve the asset.

I think this idea is basically for those with big assets portfolio as they would likely be the one moving about from country to country for business, conference, seminar, shopping etc. They would need to do this first before they move so as to properly get their assets well secured and protected. It is a good idea though but I don't think it would be feasible for all asset holders to key into as many would find it too expensive compared to what they are holding in stock and value.

[Zaguru12]

Technically it is better than keeping it in two different house on the same town but what are the odds of having three safe house in three different countries? I don't have that much money to go that way but if someone is holding thousands of bitcoin can try which is safer option and can ensure the funds can be accessed even if you lost access to your wallet from one country.

But it's bit of overstretch, I doubt anyone will give that much priority and move across oceans.

The right advice still remains one should actually just keep it in different locations accessible to you, reason why OP was emphasizing on the need for a far distance bsc and this according to my understanding is simply because of cases like natural disasters which if the place is actually close it will affect the place (many can narrow down this risk by using metal or steel back up).

But one thing that I usually advice is that everyone should be actually careful of where or how they disperse their seed phrase in different locations because too much of it can cause redundancy and could lead to not  loss of the seed phrase but also someone getting access to it.

[Alphakilo]

Technically it is better than keeping it in two different house on the same town but what are the odds of having three safe house in three different countries? I don't have that much money to go that way but if someone is holding thousands of bitcoin can try which is safer option and can ensure the funds can be accessed even if you lost access to your wallet from one country.

But it's bit of overstretch, I doubt anyone will give that much priority and move across oceans.

It's a great idea I think and one may not need to have safe house to do this. It could be a relatively close person of which a distinct relationship is shared and they might not even know it's a seed phrase because you hid it somewhere safe within or around their personal property. It could be any other means to make sure that one spreads the seed phrases evenly even, whether it's across borders or oceans.
The issue though, will be to execute this idea without few persons in the know about it and it must be large sums of which I care not to bother about the source of the funds.

[Ambatman]

There's always a cost in my opinion. The more spread out and quantity it is
The higher the likelihood of it been seen by others.

, which you place in other locations (preferably in other countries).

This boils down to the assumption that you own or have a location you can keep your seedphrase and monitor their security.
It won't work for everyone. Not many have access to moving to different places especially to secure a seedphrase.
Not to mention issues that may arise if the coins are needed as an emergency.
A single phrase spread across locations using Shamir secret sharing might be more effective.