When you log into your wallet, you will need to prove you own the private key. And providing your private key comes with the risk once your device is somehow hacked or the wallet website is compromised. One of the safest ways to store your crypto, is on a hardware wallet. You never have your private key exposed because when you want to send a transaction, you use your ledger to sign in to your wallet and you use your ledger also to sign your transaction. This way you won’t ever need to expose your private key. But what if you lose your ledger? What in case of a fire and your ledger is lost? In that case you always have your 24-word recovery phrase. But where do you store that? If you stored that on a paper or memory stick, it could just as well be lost together with your ledger. And storing your recovery phrase online, in a cloud or in your mail or on your computer is a security risk that you tried to avoid by getting yourself a hardware wallet. A friend of mine introduced me to something called “Cryptosteel”. This is a steel device that you can use to store your 24-word recovery phrase in a physical way. It is stainless steel, rust-free, acid resistant and fire proof up to 1200°C/2100°F. You can hide it in your wall, under your floor, in your roof, burry it or keep it in your safe. 

For backing up your Ledger 24-word recovery phrase you order the Cryptosteel Mnemonic set.

Here a video of how to back up your private key wit Cryptosteel.