Ledger, a leader in critical digital asset security and use, shares the best ways to keep recovery statements safe.
The careful protection of the recovery phrases used to access digital assets is one of the important steps taken to increase security. When a Ledger device or any hardware wallet experience is launched, a set of words called the recovery phrase needs to be determined. Paying attention to the set recovery phrase entails great responsibility for cryptoassets. However, continuing education on best practices and tools to use ensures stress-free management of digital assets.
The methods shared by Ledger are as follows:
“Keep your recovery phrase in a safe place. First of all, you should never enter your recovery phrase on a smartphone, computer, or other internet-connected device. For example, if the phrase is present on your computer, there is a chance it will be hacked and all your crypto assets will be compromised. Even making this entry once leaves you vulnerable. Similarly, it is dangerous to photograph the rescue statement and try to hide it in this way.
Split your recovery phrases into chunks. One of the smart ways to keep your recovery phrase safe is to split it into several parts. If this process is done correctly, the security of your recovery phrase can be significantly increased. For example, having Parts A and C, or Parts B and C of your recovery phrase, which you have divided into three as Part A, Part B, and Part C, should be enough for Ledger to reconstruct your 24-word phrase. In this method, you can split your recovery phrase into as many parts as you want.
Choose the ideal backup that is fire and water resistant. Your rescue statement needs to be resistant to physical threats like fire and water damage. Even if your list on paper is kept securely; The ink may disappear over time, water may render the writing illegible, or may be completely destroyed in a fire. Against these odds, accessories like the Cryptosteel Capsule Solo and Billfodl allow you to store your recovery phrase in a steel backup. As a result, your private keys are kept private, and your recovery phrase remains secure in an indestructible environment and in a separate location.”