this post was submitted on 17 Nov 2023
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Ledger Wallet (alien.top)
submitted 1 year ago by Ornery_Web9273@alien.top to c/ethereum@blockchained.world
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I have a significant amount of ETH in a Ledger wallet. I store the wallet, along with the phrase words, in a safe in my house. I know it’s extremely dangerous to store the Ledger and the words together but I’m really at a loss as to the best way to secure these things. I’m not an active trader so I don’t need easy access to the Ledger. I used to store the ETH on Gemini but got nervous with the Earn debacle and took them off. I’m worried I’m no safer now than on Gemini. Any suggestions?

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[–] 0xTylerHolmes@alien.top 1 points 1 year ago

Extremely dangerous is probably an over statement. Your seed phrase is the most important thing. If you’re comfortable storing your seed phrase in the safe you should feel comfortable storing your ledger there too.

Maintaining your own keys, if you’re responsible, should make you feel more comfortable than using a 3rd party service.

If you’re paranoid keeping custody of your seed phrase you could split it up. Store half at your safe at home, half in a safety deposit box etc. you can also encrypt it and place portions of it in google drive/Dropbox/iCloud etc. just make sure you encrypt it locally.