a server somewhere in the cloud. The downside is that the transferring of transactions to and fro can be fiddly and unweilding, and less practical for carrying around like a hardware wallet. Important: be sure to request a new bitcoin address before backing up, so that the keypool is regenerated and backed. We found that the seemingly straightforward option of letting users choose where to put their wallet, including on removable media such as USB drives (IronKeys and so forth created a whole host of subtle problems: writing critical data to removable drives can be problematic due. Aren't they more competent in security than me? Therefore the only way to unlock either the wallet or the backups is to physically have the correct KeepKey present and to know its PIN. To restore your wallet and recover your bitcoin, you must have your wallet words.
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