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Is it safe to store the only copy of your Keystore/JSON file on a flash drive? I am currently using this method

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No. Flash drives can potentially break by:

  • Leaving them for a long period of time. Flash drives have some deterioration over time.

  • Heavy usage

  • Dropping them

  • Other physical damage

If you want to use flash drives, at the very least you should store the files multiple times on multiple flash drives. I would recommend also burning it to CD and/or DVD.

I personally prefer writing down the JSON on pieces of paper. It takes some time, but it's a good way of knowing for sure that you won't lose it.

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    Never, ever, ever write anything down manually, unless it's a BIP-39 mnemonic :-) It's not worth the risk of transcription/transposition errors. If you have to, copy+paste the data you need to a throw-away text file, and print it (or the associated QR code). (Using an offline computer/printer, inside a VM, etc., etc.) Also note that by increasing the number of places you store your keys - i.e. by increasing the number of flash drives - you increase the attack surface. I'm sure there's a sweet spot for how many copies is best, but having dozens of flash drives floating about won't be secure :-) – Richard Horrocks Dec 17 '17 at 14:59
  • @RichardHorrocks I disagree, I've made just as many errors writing down the sequences of words, if not more. (skipping words, duplicating words, spelling mistakes, reading the words wrongly and writing down completely different ones). When writing down the keystore, a potential thief would still need the password. When writing down the BIP-39, they've got your keys immediately. I'm not saying you should put it in dozens of flash drives :P I mean multiple as in 2~4. – Jesbus Dec 17 '17 at 18:47

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