[andix]

But you always need the second one to set it up for each service.

It's fine if you do that for two or three services. But my password manager has around 600 entries. If I would need to set up all of them on both keys and always switch the active one with the one in the safe location for setting up a new account I would go crazy. Having both of them in the same place kind of defeats the purpose of having two keys, as you would lose them together.

So better have a synced password manager and unlock the password manager with a hardware key.