Apocalypse-proof Bitcoin backup
Steelwallet supports the BIP-39 standard which allows you to store 12,18 and 24 word seeds on your Steelwallet. The words on the BIP-39 word list are chosen so that there is only one possible word if you know the first four letters of that word. It is impossible that there are multiple words that start with the same four letters. That’s why you only need (and only can) punch the first 4 letters of word of your seed onto your Steelwallet.
Whoever has access to your 24 recovery words, has control over your wallet. In case the worst happens and your Steelwallet gets stolen, you should immediately withdraw your funds from your hardware wallet and transfer it to a new one that has a different seed. We recommend using a dedicated hardware wallet like the BitBox02. If you don’t have one at hand when you need to transfer your funds, we recommend transferring your funds to a software wallet and sending them onto a hardware wallet as soon as possible. You may find a more detailed instructions on how to do so on the device manufacturer's website.
In case you need to recover your wallet with the seed stored on your Steelwallet, you should do so without leaking it. That means you should never type your seed into a software-wallet on your computer or smartphone, or any other device which is connected to the internet. Viruses, key-loggers and malware might be installed on such devices and you would risk leaking your seed and thereby the theft of your funds. We recommend typing in your seed on a hardware-wallet like the BitBox02.
You should keep your Steelwallet in a secure place only you know about. This can be anything from a safe to a bank locker, or even buried in your backyard: since it’s made out of stainless steel it is very resistant to weather conditions.
Although we hope that won’t ever happen, nothing would change for you. Your seed, still is and will be safely stored on your Steelwallet for a very long time and you could get new sheets made yourself.
Yes, Jameson Lopp published a great article, comparing a wide variety of tools. He comes to the following conclusion: 'With these considerations in mind, I’d suggest that Blockplate and Steelwallet seem to be the most robust and simple options. The article can be found here