I'd really like your feedback in the comment section on this one!
I recently got my Ledger Nano S hardware wallet stolen from a rental car in Southern Spain. Since I'm planning to spend a few months down here I won't have access to any of my seed phrase backups for quite a while.
What do I do?
- Fly back home and restore a new Ledger Nano S?
- Tell a friend how to get access my seed phrase backups and ask him to buy a ledger nano s, restore it for me and send me the hardware wallet by mail?
- Ask my friend send my the seed phrase by mail or by digital means?
- Hodl and chill?
First off, I'm not worried about losing any of my crypto. I doubt whoever broke into the rental car and stole my stuff is interested and knowledgeable in crypto and would even realize what he's looking at. And with a 8-digit PIN code and the device resetting itself after 3 failed attempts there's a one in 33 million chance someone would be able to use my ledger to access any funds.
But it does tick me off to have as much time as I do to do crypto research right now but not have access to all my crypto. I'd like to shift around my crypto portfolio and also participate in some other fun crypto-stuff like staking, liquidity mining or voting in the Cardano governance e.g. Still I don't feel it's important enough for the hassle involved in making it happen.
So hodl and chill it is.
I do ask myself however: What do I learn from this? How could I prevent this situation from happening in the future? How to mitigate such risks?
This is where I'd really appreciate reading your opinions.
I'm not talking about short trips – I wouldn't even take my ledger along for a week or two of vacation. But what about being away for a few months? How do you make sure you keep your crypto safe while you're on the road, but also make sure you have access to it, even if you get robbed or you lose your stuff for some other reason?
The best I can come up with right now is this:
1. While you're on the move, keep your crypto hardware wallets on you, like you would a wallet or passport, instead of in a suitcase. Only when you're in a place that seems more or less safe and where you'll be spending a longer period of time, consider leaving it behind for the day-to-day.
2. Setup two clones of my hardware wallet (identical seed phrase and PIN number) and have a good friend look after one of them. If I am somewhere far away and lose access to my hardware wallet it's not a huge favor to ask my friend to send me the cloned hardware wallet by mail to wherever I am.
What do you think? Is there a better way? Please let me know in the comment section.
Muchas Gracias!