This is very important. I have been reading into this topic over the past weeks and prepared myself to do exactly that: using a passphrase. However, assuming that your 12/24 recovery seed is compromised, a single word passphrase would offer only little protection against an attack using Amazon AWS. The attacker could double check each wallet for crypto assets and continue until a sufficiently large wallet has been found. They might even assume that you have a dupe, with just a few assets to trick them.
Trezor itself has written an article about that matter and suggests multiple words, alphanumerics or an entire sentence. Below is a list they posted, calculating the costs to crack the passphrase today and an estimation for the costs in the year 2030.
Is your passphrase strong enough?
I have created a passphrase that is more powerful than a single word. The only downside of that is that it takes longer to enter on the device (and I highly suggest to never enter it on the computer/phone and always use the hardware wallet itself). But it is actually great to do that because it will strengthen your memory more and more each time you do that. I also do the recovery seed backup check directly on the device every day from memory and dial that repetition frequency down over time, when my synapses have created enough myelin (a protein sheath around the synapses, increasing the travel speed of the electric impulses when triggering my mnemonics).
At first I thought it might be impractical but I actually think this is fun and neither the input on the device nor the mere recall of the memory takes much time.
Posted Using LeoFinance Beta
That's impressive. I can barely remember my name some days. lol
Posted Using LeoFinance Beta