Misplacing your crypto recovery phrases is something to be worried about.
Every day, people worldwide have their crypto backup wallets stolen, lost, or damaged.
Your seed phrase is like the master key to your crypto.
It is the only way to restore your digital assets in case you lose or misplace your primary crypto wallet.
Apart from storing your recovery phrase in a safe and secure spot, using a metal crypto wallet is vital for protecting your seed phrase from unexpected damages, such as fires, floods, and other natural disasters.
Enter the BitBox Steelwallet: a metal plate created to store your crypto recovery phrase.
Join us as we explore its features, and usage and compare BitBox to other alternatives.
What Is a Steel Crypto Wallet?
Simply put, a steel crypto wallet is a physical plate or device that is made out of metal.
It’s designed specifically to safely protect your seed phrases.
What Is a Seed Phrase?
A seed phrase is a series of random words that are used to access and recover your cryptocurrency wallet.
Essentially, it is a cold wallet backup that functions as a secret password to your digital assets.
Why You Shouldn’t Use Paper
You might be thinking, “Can’t I just write my seed phrase on a piece of paper and store it somewhere safe?”
Well, you could, but paper is notorious for wearing and tearing over time, not to mention being vulnerable to the natural elements:
➡️Delicate and Flammable
- Paper is highly susceptible to fire.
➡️Water Damage
- Spills, floods, or even high humidity can smudge or deteriorate the ink.
➡️Wear and Tear
- Over time, it will fall apart. It can fade, tear, or become brittle.
➡️Easy to Lose
- Paper is lightweight and can easily get misplaced, or thrown out.
What Are The Advantages of Using a Steel Metal Crypto Wallet?
🔥 Fireproof: Most steel wallets are designed to hold up against extreme heat, some up to 2100°F.
💧 Waterproof: Usually made from stainless steel, these types of recovery wallets won’t rust or corrode. They’re resistant to water damage.
🛡️ Durable and Long-Lasting: Steel wallets are built to last a lifetime.
The best metal crypto wallets provide reliable protection for your seed phrase.
If you hold any Bitcoin or other crypto, it is extremely advisable to generate and store your seed phrases on a metal wallet.
The BitBox Steel Wallet
BitBox is a crypto hardware wallet that stores your private keys.
It was created by Shift Crypto, a Swiss company that is well-known for providing security solutions.
The BitBox02 is their most recent hardware wallet, accompanied by the BitBox Steelwallet for backup seed phrase recovery.
| BitBox Steel Wallet Features |
|
| Specifications |
|
How Does the BitBox Steel Wallet Work?
Your BitBox Steelwallet package includes two stainless steel sheets for engraving your seed phrase, a punch tool, and an instruction booklet.
A Step-by-Step Guide For Set-Up
1️⃣Prepare Your Seed Phrase
- Make sure you have a 12, 18, or 24-word recovery seed phrase.
2️⃣Assemble Your Wallet
- Each steel plate has numbered rows, each one for a word of your seed phrase. These are columns A-Z.
- You will only mark the first 4 letters of each word, which is enough for the BIP39 word list to identify the correct word.
3️⃣Engraving Your Seed Phrase
- For each word, find the correct row number that corresponds to the position of the word in your seed phrase.
- Using the provided center punch tool, mark the boxes that correspond to the first 4 letters of the word.
4️⃣Repeat the Process For Each Word
- Continue punching the first 4 letters of all words in your recovery seed phrase.
Pro Tip:
Secure your metal wallet in a safe and discreet place. Avoid common storage areas like drawers or cupboards.
Comparing The BitBox Steelwallet to Other Metal Crypto Wallets
The BitBox Steelwallet is a strong contender as a seed phrase recovery storage solution.
But, there are plenty of other options available with easier or even more complex setups.
Depending on your needs and what you value in terms of security, safety, and ease of use, one backup wallet could be better suited for you than another.
Here’s a look at some other options for your seed phrase storage.
| Product | 📑Overview | 🔦Key Features | ✅Pros | ❌Cons | 💲Price |
|---|---|---|---|---|---|
| BitBox Steel Wallet | A steel wallet designed to store your 24-word recovery seed on two separate metal sheets. |
|
|
|
$70 |
| Material Bitcoin DIY Metal Wallet | A do-it-yourself seed phrase metal wallet that can store up to 24-word recovery phrases. |
|
|
|
$59 |
| Cryptosteel Capsule | A solid steel capsule designed in a puzzle-like manner. |
|
|
|
$99 |
Final Verdict of The BitBox Steelwallet
The BitBox Steelwallet is a good option for your backup recovery phrases if you like to have the physical security of your seed phrase in your custody.
It is a reliable solution for phrase storage and is made of high-quality steel to protect your phrases in extreme conditions.
However, it’s important to consider the side of human error for this steel wallet.
As you are punching in only the first 4 letters of each word in rows and letter columns, there is a high probability of making a mistake.
If you are looking for a more cost-effective and easier set-up solution, then the Material DIY metal wallet is a great alternative.
It is much simpler as you just write your own words on the lines of the steel plate.
Protecting Your Seed Phrase
Securing your recovery phrase for your crypto wallet is a no-brainer.
As the risk of physical damage, loss, and theft becomes a reality, investing in a steel backup wallet is essential for protecting your crypto for the long term.
Whether you decide on BitBox, Material DIY, or any other backup wallet, just be sure to store it safely.
If you’re curious about which hardware wallets are available to pair with your recovery phrase wallet, please follow up on our complete Best Hardware Wallet Guide.
FAQs
What is the BitBox Steel Wallet?
- It’s a stainless steel device designed to securely store your 12, 18, or 24-word crypto seed phrase, built to withstand fire, and water damage.
Why use a steel wallet instead of a paper backup?
- Paper backups can be destroyed by fire, or water, or disintegrate over time. A steel wallet provides durable protection against these threats.
Is it compatible with all hardware wallets?
- Yes, it’s compatible with any wallet that uses the BIP39 standard.
How do I set it up?
- Use the included punch tool to mark the first four letters of each word in your seed phrase onto the steel plates.
Where should I store it?
- Keep it in a secure, discreet location (not with your hardware wallet or in obvious spots). A fireproof safe or safety deposit box is ideal.
0 Comments