Hardware wallets are the most secure option for storing cryptocurrencies over the long term. Completely impervious to hackers, hardware wallets- such as the Ledger Nano S- add another layer of security by forcing users to press a button on the device itself when performing transactions.
Ledger is currently the king of the hardware wallet game, and offers cryptocurrency investors a range of highly secure products. Holding cryptocurrencies involved holding private keys, which are wholly unique pieces of critical information that are used to sign transactions.
If somebody is able to gain access to your private keys, they will essentially have access to all of your crypto assets, so safeguarding this information is essential. Ledger offers a range of hardware wallets that back up these private keys, but it’s also possible to back these keys up with a “recovery phrase” that consists of 24 words.
In the case of the loss or destruction of a hardware wallet, this “recovery phrase” can be used to access the wallet. Private keys and recovery phrases are essentially the same information, only the representation is different.
Ledger has recently released a new product that allows users to “backup their backup” with a secure device that stores the 24 word recovery phase called the Ledger Cryptosteel.
What is the Ledger Cryptosteel?
The Ledger Cryptosteel is a fireproof, shockproof, waterproof, and anti-corrosive storage device that is used to backup recovery phrases. The Ledger Cryptosteel is virtually indestructible, and completely free from electronics.
Constructed entirely from stainless steel, the Ledger Cryptosteel is a double sided steel card roughly the size of a debit card that can be customized on two sides. Each side of the Ledger Cryptosteel holds 12 words, and is assembled by the user.
Weighing in at 330 grams, the Ledger Cryptosteel measures 10.5cm x 6cm x 6cm, and is compatible with any 12, 18, or 24 word recovery prase. The Ledger Cryptosteel can hold 96 characters, and is shipped with more than 245 different letter tiles. Interestingly, the Ledger Cryptosteel is fireproof up to 1200°C / 2100°F, which means that even in the case of a house fire, your crypto investment will be safe.
Ledger Cryptosteel Verdict
Ultimately, the Ledger Cryptosteel can be considered a “paper wallet on steroids”. If you’re looking for the ultimately in recovery phrase security, the Ledger Cryptosteel is the way to go. Ledger currently offers a deal that includes a Ledger Cryptosteel and two Ledger Nano S hardware wallets via the Ledger website.