Steely Cryptocurrency Wallet Backup
Steely cryptocurrency wallet backup is a solution for safeguarding wallet seed words.
We are always looking for security solutions for our readers. We ordered a Steely with our own money directly from the company. This will enable us to give a fair and unbiased review. TBS did not receive any products from Steely. This is not a fluff piece to generate sales.
*Full disclosure: (We have become affiliates for the product since reviewing it. This review is not to try and sell you something. If you think a Steely is something you would like after reading this review, you can use our link to buy it. We may receive a small fee. You can also go directly to the Steely website if you would prefer).
It arrived in a couple of days. We also received an email from Jerrod from the company thanking us for our business.
Its dimensions are 4.5″ W x 3.5″ H and it weighs 345g (12.17 oz) out of the box with all the tiles and plastic storage boxes.
After unboxing the Steely, we looked over it to get some first impressions.
The Steely Is Tough
It looks tough, being steel. There were no instructions or any on their website, but it’s pretty self-explanatory. The first thing we noticed after handling it is that it picked up finger marks as soon as we touched it. It became covered in them after a few minutes.
You do not need any tools to set it up.
The Steely is SAE 304 Stainless Steel made. This means it will not rust or corrode in water or usual storage conditions. It can also withstand extreme heat up to 2100 °F (1200 °C).
It comes with over 250 steel tile letters used to make up your seed phrase. The Steely holds up to 96 at a time. They engrave the letters using a laser, so they should take some abuse. There are some blank tiles to put in place if you have any three letter words.
The tiles have a different letter on either side. Some of them were darker than others and harder to read, but still useable.
Cryptocurrency Security Measures
We have written many articles on securing your crypto. We recommend that you use encrypted drives in several secure locations. Storing your recovery words in steel is another option. The drives we tested are tough, but not as tough as a Steely. The drives have encryption though, and in theory, are impossible to get into. If someone gets to your Steely, they can open it and rebuild your wallet. There are two tamper seals but they are not going to stop anyone from getting inside.
Both systems have their good and bad points. If you are going to use a Steely, make sure you store it in the most secure location you can. A bank safe deposit box or something similar. It does have the advantage that it is tough. An electronic device is susceptible to extremes, even the tough ones we researched. The Steely is steel. And that’s it. No electronics to go wrong. Almost no temperature extremities or water is going to destroy it.
On first looks, there doesn’t appear to be enough room to fit the seed words from a hardware wallet.
The BIP39 format that your wallet uses actually only needs the first four letters of each word. This is still unique enough to make it impossible for anyone to guess all your seed words.
While we have no doubt that this thing will take a beating. When I pulled the safety bar down to put the letters in the slots, it felt more flimsy than expected. You are not going to be doing that many times though.
Twenty Four Word Seed
Inputting a twenty-four-word seed phrase does take a while. Once you input your words and store the Steely, you may not have to touch it for a while. Or ever?
It has a sliding privacy window that hides your words once you have saved them.
The Steely will survive extremes. If your storage location burned down it has a good chance of still being intact. Although would they let anyone search through what’s left of a burned down bank?
It is a rugged and easy to use product. You have to be careful where you leave it because unlike a drive there is no encryption. If you leave it hanging around your house it’s not very secure.
Our Honest ‘Hand On Heart’ Bottom Line
We recommend the Steely but would suggest buying two. If you have two you can put half the seed words on one and half on the other and store them in separate secure locations. The same idea as the old writing the phrase down and tearing it in half trick.
Not everyone can afford a Steely (or two) and a hardware wallet and several USB drives. If you have more than a few hundred dollars in crypto it’s worth investing in at least one security solution.
You can order the Steely here. They have a 10% off deal for new customers on publication of this article.
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* This article is for entertainment purposes only. You should not consider it advice. Please consult a wallet expert before using one.