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Hardware wallet backups – safety vs. security
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1. Have you created your recovery seed backup? *
2. Have you tested your recovery seed backup to make sure it's correct?
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3. Are all your recovery seed backups stored 100% offline without making a digital copy?
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4. How is your recovery seed offline backup stored?
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5. Have you activated a passphrase on your hardware wallet device? *
6. Have you created passphrase backup to protect yourself in case of forgetting your passphrase?
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7. Are all your passphrase backups stored 100% offline without making any digital copy?
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8. Are you checking all your backups regularly? *
9. Have you created an inheritance plan? Will your close ones be able to access your backups in case of accident or death? *
10. Have you informed your close ones about your inheritance plan in advance?
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11. Are you reminding your close ones about your inheritance plan regularly to protect them against forgetting it?
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12. How have you created your inheritance plan?
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13. Have you set up an address monitor to get an alert on balance change? *
14. Have you created an identical copy of your hardware wallet device to have an immediate backup if needed? *
15. Have you heard about Shamir Secret Sharing method that might be used to distribute your backups between multiple inheritors? *
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