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RE: Unboxing Video - My Hardware Wallet Came in the Mail! // Let's Talk About Security
I've been using USB drives since their inception and I've got a bowl full of dead ones. How is a nano or trezor better than a paper wallet stored in a safe, bolted to the floor?
Great question. Having the 24 word passcode alllows you to recover your private keys - even if you lose your ledger or Trezor. Keeping a paper copy in a fire proof safe is pretty darn secure too... but if something ever happened to the safe, you’d be in trouble.
Backup copies of paper wallets stored in another secure location gives some redundancy. I'd need to act fast to retrieve the backups and empty them before the stolen ones were used.
The other things that appeal to me with paper wallets are the cost, near zero, and that I've dreamed, since I was a kid, of printing my own money.