Recently, I had a close friend lose his recovery seed for a crypto wallet when he upgraded his phone; and yes, he lost anything in that wallet. I don’t know how many times to say this, backup your keys.
Plan for all contingencies whether it be a house fire, flood or worse, you pass away. This is about looking out for the ones you love and leaving them a legacy should anything happen to you.
Each hardware wallet you have should have at least one metal backup with recovery seed stored someplace safe. (Read more about Hardware Wallets here) For ease of use, I recommend the Ellipal metal backup. If you are reading this before Nov 26, 2021, they have the duo on price at this time for $79 which is a great deal.
The Ellipal is made to support all wallets that are BIP39 compliant, so if you are using a Ledger, Trezor or any other standard hardware wallet, this is your safety net. Did I mention having multiple copies is a good idea?
When I was in New Orleans after Katrina, I heard from so many people that they lost everything. Even their safety deposit boxes were flooded, so they lost anything in there. Sure, a ziplock bag may get you by, but would you trust your crypto holdings to a plastic and your family’s future to a plastic bag? I hope not.
Never be without your recovery seed by making a metal copy. The Aluminum design of the Ellipal resists corrosion. With a melting over 1,200° F, the Ellipal is more likely to stand the test of time; when compared to other methods of secure storage.
Pro Tip: Once you have completed setting your recovery seed in your Ellipal, punch out the left over letters and drop them in recycling bins at work, coffee shops, grocery stores, etc…; as long as they are not all in the same place. Don’t make guessing your recovery seed easy for anyone. I recommend a minimum of 5 places so as to make it impossible for anyone to try to reconstruct the puzzle.