7 ms·
Having a couple hardware wallets in different places + a paper backup split in a couple pieces gives you enough redundancy not to worry about this. Source: my o
by vernon99 2y ago
Having a couple hardware wallets in different places + a paper backup split in a couple pieces gives you enough redundancy not to worry about this. Source: my own experience of close to 10 years now.
- hot_gril 2y agoSo where do you store the paper?
- MadnessASAP 2y agoUnfortunately I will never be willing to entrust my financial safety solely to an algorithm. An algorithm cannot be reasoned with, it cannot understand that your house burned down and destroyed your ID. It cannot accept liability for it's actions. If I lose my bank card I go to a branch, verify my ID, and get a replacement. The bank is liable if they allow somebody other then me access to my accounts, regardless of how convincing the fraudster might have been. Source, been using banks for 30 years now.
- DennisP 2y agoKey redundancy and social recovery are pretty much solved problems in crypto.
- dewey 2y agoOn a technical level, not a human level.
- hot_gril 2y agoExactly. I've held large amounts of Bitcoin for years but always been too intimidated by hardware wallets or the fancier security schemes. It takes time to learn and try that stuff to the point of 100% trusting it, and I'd rather be called obtuse than overconfident like this guy: https://www.reddit.com/r/TREZOR/comments/s9lgyy/5eth_bounty_locked_out_of_original_wallet_account/ https://www.reddit.com/r/TREZOR/comments/s9lgyy/5eth_bounty_... My solution in the end hinged on a paper recovery phrase, stored in... a bank.