162 sats \ 2 replies \ @scampy 5 Oct 2022 \ on: How do you backup your 12-word wallet key? bitcoin
I considered many options, but decided to keep it simple with a seed + passphrase combo.
Seed backup #1 in geographical location #1
Seed backup #2 in geographical location #2
Passphrase backup #1 in geographical location #3
Passphrase backup #2 is memorised
All physical backups are etched in stainless steel (the stamping / etching methods are cheap and also more durable than alternatives as demonstrated by Lopp).
Each physical backup has a tamper proof seal. There's also a label on the inside which says stuff like "do not share contents of device with strangers", "do not photograph contents", " do not enter contents into a keyboard", etc. Also there's things like the derivation path.
I wanted my setup to be secure, but also easily recoverable by beneficiaries in the event of my death.
This is very similar to my current setup. I have yet to make a seed backup for multiple locations, but I have a seed in a safe and a passphrase I've memorized. I need to create a backup elsewhere and a written down/etched backup of my passphrase too.
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I have a similar backup just more passphrases (eggs & a single basket comes to mind).
Memorised the seed words & passphrases as an addition to the setup, the same goes for my OH. We both have a full access to our Bitcoin bank (I mean we own our bank) accounts 24/7, everywhere on the planet. No other bank is capable to offer these services, for near free.
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