Top positive review
Fort Knox for your Crypto
Reviewed in the United States on July 3, 2019
The item description is not accurate. This is not a"Cryptocurrency Steel Wallet". The function of this item is limited to one use, and one use only (and that is a very important use...read on).
When you buy/sell cryptocurrency on an exchange such as Coinbase, then your assets are held for a short period of time and then released to you. These assets should never be left in storage on your exchange. Instead, your investment should be sent to a device that is not accessible via the internet. The preferred method of accomplishing this degree of security is to send your coins/crypto assets to an offline device known as a hardware wallet. I use a Trezor Model T hardware wallet myself.
Each hardware wallet requires a PIN in order to transfer coins/crypto in and out of your exchange. Since the hardware wallet is not physically connected to the internet (much like a thumb drive) then the only way for someone to steal your assets would be for them to physically steal your hardware wallet, and then somehow hack your PIN in order to gain access.
Your fail safe if your hardware wallet is lost or stolen is what is known as a recovery seed and that is where this backup device comes into play. You can store your recovery seed on this item which is essentially an indestructible steel plate that looks like it could withstand an atomic bomb blast. If your Trezor, or other hardware wallet, is lost or stolen, then all you need to do to recover your assets is buy a new hardware wallet and enter your recovery seed into the device in order to recover your funds.
Your recovery seed is extremely important, you can lose your wallet without losing the funds stored there as long as you have your recovery seed. IF, on the other hand, you lose your recovery seed, then you can lose every last dime that is stored in your hardware wallet. That is why this extremely robust and simple storage device is available to store your seed. I recommend that you still store this device in a locking fire safe. I also recommend that you keep a back-up paper copy of your recovery seed at a secure alternate site.
Good luck with your Crypto investments!