As the development and advancement of the cryptocurrency industry continues to unfold, the problem of security remains acute for investors and enthusiasts of cryptocurrencies. The seed phase is one of the essential security measures that should be adequately taken to protect our digital assets. The seed phrase here is one that grants anyone access the wallet and the amount of money that is available in there as we already know. But the 1 bill I dollars question remains where must be the best and safest place for storing this valuable information?
In a world filled with hacking threats, physical storage vulnerabilities, and technological failures, I've come to a realization: the best place to store my seed phrase is actually in my head. Yes; and now, I walk through the process of memorizing and knowing all my seed phrases by heart.
>THE DANGERS OF PHYSICAL STORAGE
One can keep seed phrases either on paper or in electronic form, and some pay argue that putting the paper inside a safe, or in a locked cabinet may feel like enough security. However, these methods are not reliable as reliable as they may appear to be. Safes can be breached and open, cabinets can be forced opened, papers can be misplaced or destroyed. Further, existing physical storage procedures may face severe challenges such as natural disasters, fire outbreaks, or floods.
A very good example is the recent fire outbreak in LA that consumed everything in its path, so imagine someone in that neighborhood has a hardware wallet in his house with the pass phrases hidden in somewhere in the house he considered safe and the fire came and engulfed his house, hell literally lose every single thing. Even if the the safe is fireproof, and its a flood, everything can be easily displaced.
>THE DANGERS OF DIGITAL STORAGE
Also unsafe are digital storage forms that include copying seed phrases in a computer or phone. Technology malwares, ranked hacking, and general technological disasters can in varying degrees jeopardize digital storage. Also, decentralization of the seed phrase also implies that your seed phrase is only as safe as the device or digital platform you use.
THE POWER OF MEMORIZATION
Eliminating the issues associated with physical and electronic storage is possible since memorizing your seed phrase is 100% possible that even the dumbest person can do it. In this way, your phrase is shielded in a way and you adhere it to your memory so well that no external interuption has a way to penetrate it. In general, your seed phrase will be safe unless there is an exceptionally serious case, for instance, when you suffer a head blow or other health problems that results in amnesia.
Im not saying its an easy thing to do, It needs focus and commitment to memorize a seed phrase. Ive been able to come up with some helpful tips to help anyone commit their phrase to memory:
1. Break it down: Split your seed phrase into segments to make it easier for you to memorize them if in case you end up forgetting them.
2. Create associations: Connect each word or phrase to individual and interpersonal imagery.
3. Repeat and rehearse: Now and then, repeat your seed phrase to help refresh your memory.
4. Use mnemonic devices: When recalling information use methods such as an abbreviation or creation of a rhyme, just as if youre learning how to memorize your countrys national anthem.
CONCLUSION
In the current world, where cybersecurity threats and natural disasters and theft are prevalent, the best form of security is doing things the traditional way: memorizing a seed phrase. When you memorize your phrase, you are also free from all the risks that you have with the physical and digital storage. Though it takes time and commitment, But still, you are secure knowing your seed phrase is safe and can be used at any time needed. Therefore, attempt memorizing your seed phrase today; you should start memorizing it today if you havent. Youll be glad you did it for your digital assets.
Honestly, memory is great and all but the moment you are gone and dead well then we have a problem because your heirs will never inherit any of the remaining coin that you have and that is such a sad and foolish thing to have happen. There still isn't really a perfect solution to be fully secure and trusting for passing down your seed phrase. I suppose with a very trusting lawyer trust & maybe something of this combo but even that is complicated. I think honeslty the most secure way, even though you lose everything that Bitcoin was created for and its not even really the real coin but it would surely be passed on to the next generation pretty much seamlessly is holding your bitcoin in the form of the ETF. It kills me to say this but for the sheer purpose of moving it down the family line when you die, I think that option takes the cake.