Overview
Seed phrase storage is a technique to protect your seed phrase from theft and destruction so you can repair your wallet if necessary. The seed phrase serves as a hardware wallet’s recovery key. If you don’t already have a safe hardware wallet setup, you should consider doing so.
The most secure method for storing and using cryptocurrency, according to experts, is hardware wallets combined with reliable seed phrase backup. Hardware wallets shield you from threats such as exchange/platform bankruptcy, hacker attacks, and more.
Contents Included
- Seed phrase and the importance
- Seed phrase storage
- Best seed phrase Storage Features
- The most effective method of storing the seed phrase
- Seed phrase backup professional v/s DIY
- Be safe with this safety advice
- Beware of using these popular seed phrases storing ideas
- Final word
1.Seed Phrase and The Importance
- Access Key and Recovery Wallet- Seed Phrase:
A seed phrase serves as the password for the entire wallet which includes a list of addresses, so without this phrase, one cannot access any funds or addresses belonging to the wallet.
The seed term, however, goes beyond that. Hardware wallets employ seed phrases as both an access key and setup instructions for all blockchain addresses.
A new hardware wallet will generate a predetermined set of addresses and private keys for them when you set it up. Additionally, if you use the same seed phrase to build a new hardware wallet, it will make a 1:1 replica of all of your prior addresses and private keys.
From a particular seed phrase, wallets always generate the same set of addresses and private keys. They are therefore frequently referred to as recovery seed phrases.
- Seed phrase Refers:
A group of special words called a seed phrase typically selected from a word list range from 12 to 24 words. For example “critic quote fine define base brush mention denial design shallow conversation language “.
Hackers cannot decrypt seed phrases, private keys, or the entire blockchain since they all use the same cutting-edge encryption techniques.
2.Seed Phrase Storage
The seed phrase is a backup of your entire wallet’s contents. Set up a new wallet as a duplicate of the previous one if yours becomes corrupted, damaged, or lost; you’ll need the seed phrase to restore it. You won’t ever be able to access your wallet’s funds if you forget your seed phrase.
- Seed Phrase for Recovery
Wallets, whether physical or digital, may malfunction, disappear, or sustain other damages. It happens more frequently than you may imagine. Manufacturers of hardware wallets continually stress the value of appropriate seed phrase backups since they are aware that mistakes might be made with their products.
It’s also crucial to be aware that hardware wallets will wipe themselves entirely after a few unsuccessful PIN tries. When it occurs, you must employ your seed phrase, and it had better be in good shape.
The most secure method of using and keeping bitcoin is to utilise a hardware wallet every day to send and receive payments and sign smart contracts, together with a reliable seed phrase backup that is kept in a secure location to recover your wallet in case it becomes lost or broken.
Your hardware wallet is secured with a PIN, and if you enter it incorrectly a few times, it will delete all of your data. This implies that you do not need to conceal your hardware wallet. But to recover your wallet if it is lost, broken, or wiped, you must keep your seed phrase storage secure against theft and illegal access.
3.Best Seed Phrase Storage Features
The seed phrase storage media must endure the calamities and events that occur in life. You wouldn’t want your priceless seed word to be damaged by water from a leaking roof, burnt in a home fire, or dumped by a relative during cleaning. To help you come up with one, we’ll go through the characteristics of the perfect seed phrase storage solution below.
- Storage Should Be Durable
The seed phrase should be able to endure a lot and still be readable after a few years because it is probably one of your most prized possessions. This implies that putting a seed phrase down on paper, which is the most common method, is not the greatest option as there is a lot of chance of getting damaged on the paper.
- Just a combination of mould and extreme humidity may render paper illegible.
- The ink from a pen will frequently fade after a few years, and if it is concealed in a stack of other papers, you might not even notice this.
- Additionally, insects or rodents that for some reason enjoy eating paper may gobble it up. Paper cannot resist a home fire or a firefighter’s water hose.
The practical choice is to utilise metal plates, preferably made of metal that won’t corrode or be harmed by moisture. The best material would be stainless steel because it won’t be harmed by rats or mildew and can readily withstand flooding and home fires.
- Offline Physical Unhackable BackUp
The biggest benefit of utilising hardware wallets is that hackers cannot access your keys since they never leave the device. The vast majority of individuals utilise them because of this huge benefit. However, storing your valuable seed phrase on your computer or other electronic devices would only make the work simpler for hackers.
Data that is kept on an electronic device can be accessed by hackers and harmful software. You will still need a device to access, decrypt, and read any offline data storage you employ, such as a USB drive or memory card. When entering or reading your seed phrase from a computer, you are most at risk from hackers.
This also applies to saving your seed phrase as a picture or image, as there is a tonne of malware out there that is designed specifically to read words out of pictures.
Your seed phrase backup should be entirely offline and non-electronic as a result. It shouldn’t be required to compose, save, or access it via any form of technological device. It must be physically based and completely air-gapped. The only thing and person who can see your seed phrase is you.
This implies that you must manually indicate or write your seed phrase. Steel can be marked using punches or a hand engraver, but it must be done manually without the aid of any technology. Something that is not digitally saved cannot be remotely accessed by hackers.
- Must be Easy to Hide
Finding a spot to keep your seed phrase backup might be difficult. You may want to store it somewhere no one will discover it, but not in a place that will call attention to it just by being there.
Your seed phrase should likewise be as monotonous as possible. This is why it is best not to use anything with showy branding that the thief may immediately identify. They can simply Google the name on it at the moment. If your seed word resembles a piece of metal, it will be easier to conceal in plain sight.
- It must be convenient to read and write
Your seed phrase should likewise be as boring as possible. This is why it is better to avoid using anything with obvious branding that the burglar may easily detect. They can just Google the name on it right now. It will be easier to conceal your seed word if it resembles a piece of metal.
If you utilise a complex strategy to write or encrypt your seed phrase. You will most likely be unable to read it after 5 or 10 years since you will have forgotten how you accomplished it. Not to mention explaining it to a family member if something unfortunate occurs.
Your seed phrase backup should be simple to create so that you do not make mistakes. If you committed mistakes, you may not be able to restore your seed. Also, it should be as readable as possible so that you or a family member can read it even if it has some damage after a few years.
- Secure the seed phrases
The ideal seed phrase storage should allow you to see if it has been accessed. You should be able to check your backup from time to time to make sure it’s still there and hasn’t been tampered with.
The ideal method is to utilise tamper-evident seals, which can resemble these warranty “void” labels placed on appliances or anything manufactured.
4.The Most Effective Method Of Storing The Seed Phrase
The optimal seed phrase backup system should be robust enough to resist harsh conditions, offline and hacker-proof, and simple to conceal. It should also be tamper-proof and simple to use and read so that you can retrieve your wallet after a few years.
With this in mind, it is recommended that you utilise a stainless steel crypto wallet for seed phrase storage or attempt to construct one yourself.
The layout is deeply carved with lasers and includes mounting holes for placement in an inconspicuous location.
5.Seed Phrase Backup Professional v/s Diy
If you are proficient with tools and have a small workshop, you might want to try doing it yourself. Keep in mind that stainless steel is one of the most difficult materials to deal with, and even stamping your letter with a hammer may be challenging for some.
You might be able to get some stainless plates for cheap, but you’ll need certain tools, which will raise the price to the same level as some genuine backups on the market.
Making your seed word storage may be a fun hobby, but it is unlikely to last as long as some of the best ready-to-use alternatives.
The best ready-made seed phrase storage systems are simple to use, allowing anybody to do it without risk of error or damage. They don’t require the use of specialist equipment, and everything you need is included in the package, so you can get started right away.
6.Be Safe With This Additional Advice
- The sequence of the words in your seed phrase is critical. Never modify the sequence of the words in the seed phrase; doing so will render your seed phrase useless.
- To avoid viruses or hackers intercepting your backup, don’t take images of it or even read it aloud.
- Other than hardware wallets, do not enter your seed phrase (or even parts of it) into a computer or other electronic device.
- Only use seed phrases created at random, preferably by the wallet.
- Always check to verify if you marked your seed accurately. You may accomplish this by using your wallet’s recovery check tool.
- To secure your seed backup or hardware wallet, apply tamper-evident stickers and make sure no one uses them when you’re not looking.
- If you are unsure if you will be able to decode your seed phrase in 5-10 years, you should avoid encrypting it or making it difficult to read.
- If you are concerned that someone could gain access to your seed phrase or compel you to reveal it, use an additional pass or seed phrase splitting.
7.Beware Of Using These Popular Seed Phrase Storing Strategies
It is not recommended to utilise the seed phrase storage techniques listed below. This seed phrase backup method may appear to be a smart idea, but it is not and may expose your seed to hackers or render it unreadable in the future.
- Try not to write on a paper
Paper is readily ruined and misplaced by accident. Fire, water, humidity, mould, rats, and insects may all destroy your paper backup, causing you to lose all of the money in your wallet. It is also extremely usual for people to unintentionally discard paper backups stored with other papers.
- Do not copy on Phone or Computer
Never store your seed phrase, or even parts of it, on a digital device. Hackers’ specialised software searches devices for evidence of readily recognisable seed phrases. Not to mention keyloggers, which submit all seed phrases automatically to hackers who can deplete your accounts quicker than you.
- Try not to keep a photo
Make no images of your seed phrase since malware may easily scan and interpret photos for words. The seed phrase is not safe on your phone or camera. This also applies to printing. It should not be used to backup seed phrases.
- Cloud Storage is not a secure option
As previously stated, storing your seed word on an electronic device, even if offline, is not a good idea. Cloud storage is an always-connected storage medium that can be fairly secure, yet hackers can gain access to it. This applies to both images and online files.
- Try not to use Password Managers
Password managers do an excellent job of keeping your normal passwords secure, but seed phrases require a different approach. They offer a high level of security but are not intended to store your seed word.
If your password manager fails, you may still restore your password on all of your online services; however, this is not the case with a seed phrase. It is critical to understand that, with the growing prevalence of two-factor authentication, just entering your username and password may not be enough to empty your bank account or even access your e-mail.
8.Final Word
To conclude our discussion on seed phrase storage, we would like to underline the significance of robust seed phrase backup once again. If you choose to be your own bank with cryptocurrencies, behave like one by securing your cash using the finest seed phrase storage options available.
