How to Safely Store Your Hardware Wallet Cryptocurrency Assets——
Hardware Wallet = Password + Mnemonic Phrase, both are essential——
If you: forget the password, get locked out after too many incorrect attempts, and have no backup of the mnemonic phrase, then theoretically you only have one last option:
To crack the hardware itself and extract the key from the chip.
However, currently, chip protection is getting better and better, making it increasingly difficult to crack!
Be sure to:
Set a strong password that you can remember. Don’t overestimate yourself; I’ve found that many people think they can remember it, but forget it after a while. I suggest writing down the password and keeping it safe, but do not store it with the device (or use a password manager);
Write down the mnemonic phrase offline, keeping at least two copies, or use multi-signature storage (do not take photos, do not upload to cloud storage);
Regularly test the recovery process, as this can help reinforce your memory, which is very important (test recovery with a new device);
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