Reminder: when electronics are damaged, you shouldn't leave them in a bowl/bin of rice. Dry rice is dusty and the dust will get in your device's ports and crevices.
Leaving the device in a bowl/bin of rice for a day does serve a purpose: you're leaving it the hell alone for a day. Instead of putting it in rice, just set it somewhere dry, cool, and out of the way, and don't touch it for 24 hours.
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@noelle While you are right it does remove atmospheric moisture (and moisture it directly touched but thats not relevant) that isnt to say it wont help dry it.
The silica gel will bring the humidity in the air to 0%, this super dry air will cause accelerated evaporation of any water in the device. As it evaporates it will be captured by the silica keeping the humid near 0%... It will **significantly** speed up the rate of drying.
I use it to fast dry plant material before chemical extraction. The same plant material that would take 2 weeks to dry in the open air would take about 24 hours to dry when sealed and packed with silica.
@freemo Yeah, rice doesn't really work for the intended purpose. Silica gel is a good desiccant to use in this case, but even that isn't really going to help much because it's intended to remove atmospheric moisture, not moisture that's standing inside a device. At best it'll keep the air around the device more dry than it would otherwise have been, so no additional moisture gets in.