You’ve probably learnt a lot about protecting wallets, especially when it comes to seed phrases. However, the subject of protecting your seed phrase is so important that it deserves a whole guide on how to do it well.
This is because the seed phrase is the ultimate when it comes to recovering your wallet. Whichever kind of wallet you use, there’s always a chance that something goes wrong with it and you’re unable to get it back.
For instance, I tried to log into my blockchain.com wallet recently but couldn’t remember my password since I haven’t used the wallet for a long time. The only option left is for me to restore the wallet using my seed phrase, which I’ve also lost unfortunately.
Fortunately, I don’t have much on the wallet, so it’s no big deal. However this can also happen to a wallet with a lot of assets on it and you don’t want to experience that because there’s no other remedy to the situation and your wallet is gone for good.
To prevent this, here are some of the best ways to keep your seed phrase safe, so that you can use it to recover your wallet when you need to.
I know, a paper wallet is a kind of wallet on its own right? But it can also be used primarily as a means of securing your seed phrase.
You can print the recovery seed phrase of your wallet on the paper wallet and store it in a secure place for reference when you need to recover your wallet.
You should be careful using paper wallets though, as they can be easily damaged by water or fire. They can also be easily mistaken for useless pieces of paper, so make sure to store it where no one else can reach it.
They are however a cheap and quick alternative for securing your seed phrase and you should use it as a temporary solution if you don’t have another option.
Metal wallets are just like paper wallets, but they are a more secure alternative because they cannot be burnt at certain temperatures and water cannot damage them.
The seed phrase is engraved into the metal surface, which makes it difficult to lose, unless you lose the whole metal itself.
You can then keep the metal in a secure place just like for the paper wallet. Those who don’t know it may also take it for a useless piece of metal, so you should keep it out of reach of anyone else. For those who know, they may use the seed phrase to steal your assets, so be careful.
This option however isn’t free as the case of a paper wallet. You have to pay for them and they vary in price depending on the company producing it and the length of your seed phrase.
Hardware wallets, apart from being the best kind of wallets, are also an excellent way to store your seed phrase. It allows you to store your seed phrase on cold storage, as well as hold your crypto assets offline.
The wallet becomes an air-gapped device that isolates your sed phrase from the internet. The hardware wallet also makes the seed phrase impossible to steal even if the device itself is stolen, because the thief will need biometric or other forms of clearance to access the seed phrase.
Like metal wallets, hardware wallets aren’t free, so you’re going to have to pay for one to use for this purpose.
Memorizing your seed phrase is another wonderful way to save your seed phrase. No one can steal that even if they cut off your head. I tried to memorize my seed phrase recently when I created a new Metamask wallet.
Even though I didn’t have the time to go through with the process, I realized it was doable and I only needed a little more time to commit it to memory and keep it fresh to secure the seed phrase. The only problem is that you may forget the seed phrase, which is quite risky.