Until you lose it or drop it in a lake or it doesn't boot one day or the flash memory corrupts.
All these people recommending phones or hardware wallets as being easy, and not mentioning the complexity and opsec of offsite backup....
All these people recommending phones or hardware wallets as being easy, and not mentioning the complexity and opsec of offsite backup....
Since you're probably wondering, the passphrase mnemonic on my Ledger is a group of 24 words that represent a translation of the primary secret key. All accounts on my Ledger are derived from it. I've tested wiping and restoring, and the passphrase now lives in my bank deposit box.
By the nature of cryptocurrency, if you had all the public keys from your hardware wallet you could use it as a bank by dropping the wallet itself in a safe deposit box. You don't need it in your physical possession to receive, only send. I'm considering buying a second for exactly this purpose, though at that point, a paper wallet would be just as functional.