<i>&gt; To put it in other words you are advocating storing your money in a mattress because you don&#x27;t &quot;trust the banks&quot;</i><p>Money and data are not directly compatible here, as one &quot;bit&quot; of money is the same as any other in most respects, but I <i>do</i> always carry a minimum amount of cash in case my cards stop working or are lost&#x2F;stolen, have a pot of &quot;emergency cash&quot; at home for similar reasons, and recommend others do the same. Most of my money is in the bank so I&#x27;m not protecting against massive institutional failure here, but I am protecting myself against a variety of possible temporary inconveniences and possible mistakes on my part.<p>I&#x27;d rather have two backups of which one is more likely to fail then the other than just one, or three rather than two, and mixing types of backups means not all of them are subject to exactly the same failure modes (my local backups, online or off, are unaffected by connectivity issues for instance). For data that is important, a little paranoia is healthy IMO.