Security Concerns - The industry acknowledges the risk associated with relying solely on seed phrases for securing cryptocurrency holdings [2][3] - Seed phrases written on paper are vulnerable to damage, loss, or smudging, potentially leading to irreversible loss of funds [2] - The prospect of securing substantial assets, such as $10 million, with a single piece of paper is perceived as inadequate by some users [3] Ledger Recovery Key - Ledger offers a recovery key as a backup solution for its hardware wallets [1] - The Ledger recovery key is considered a potentially useful feature, similar to Tandem, for safeguarding against seed phrase loss [1]