I’m considering renting a Safe Deposit Box as a secure alternative for storing my Bitcoin seed phrase. My plan involves splitting the 24 seed phrase words between two different companies, with each holding 12 words. To add an extra layer of security, I’ll jumble the sequence of the seed phrase. This way, even if the unthinkable happens—like asset confiscation—the banks won’t be able to piece together the correct sequence. Additionally, the passphrase, which the bank won’t have, will safeguard my hidden wallet, leaving only a decoy wallet with a few dollars accessible.
Why am I doing this? Well, 50% of my wealth is in Sats, and the other half is tied up in a compulsory savings and pension plan that I can’t opt out of. I need to protect my Bitcoin! While I do store my seed phrase at home in a personal safe box, secured within a fire-resistant bag, I’m considering the Safe Deposit Box as an extra backup in case of unforeseen circumstances or acts of God. This way, I’ll have a secure, off-site location to access my Bitcoin if needed.
I searched this idea on Reddit, and the feedback was mixed, but I believe that splitting and jumbling the seed phrase is a solid preventive measure. I also did a Google search and found a few Safe Deposit Box options online, ranging from the most expensive to the cheapest. Keep in mind that I haven’t done an in-depth analysis, so some services might lack detailed pricing or GST information. Please also consider any potential deposit or administrative fees.
$360 – Starvault
$200 – Smart Secure Storage @SG
$200 – Hong Leong Finance
$191 – DBS
$184 – SECOM
$180 – Singapura Finance
$129 – Certis
What do you think of this idea? Have you done this before?
1Bitcoiner.com 
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