Electrum ltc password and passphrase2/12/2024 Keep it separate from the seed phrase backup.ģ. But do not store where you keep your seed phrase. Write in a paper or you can even use password manager for this. If you are using Passphrase then it is at-most important that you backup that as well. Passphrases adds extra layer of encryption to your wallet and protects your seed phrase from physical attack. You can enable it and use passphrase on top of your recovery phrase to unlock hidden wallets. This is optional advanced security feature. Passphrase (Also known as Wallet Seed Extension. ![]() Have two or more backups securely stored in different locations. Write it on paper or engrave it on a steel plate. ![]() So its at most important that you backup your seed phrase. All your accounts / addresses and private keys of all coins are derived from your recovery seed. Most critical part of your crypto wallet. Seed Phrase (Also known as Recovery Phrase, Mnemonic Seed, Backup Recovery Sentence). Basically all of the self-custody wallets such as Ledger Nano, Trezor, Coldcard, Keepkey, Electrum, Metamask, MyEtherWallet etc. This concept applies to both software and hardware wallets. How they used in practice and how they work together to keep your crypto assets secure. Recovery Seed, Passphrase, PIN and Wallet Passwordīitcoin seed words, passphrase & PIN code: What’s the difference between them? Here’s a short TLDR Summary: to help you quickly understand the differences. The following information is valid for hardware wallets, mobile, desktop software wallets and most online wallets. Which one is the most important that is which ones you really need to secure and how important they are in terms of backup. Here in this post we’ll explain how each of them are different. What are they & how they keep your crypto wallet secure? To better understand how to secure your crypto assets you need to learn the difference between seed phrase, passphrase and PIN. When it comes to your crypto wallet you got your seed phrase, passphrase, pin and password. With that said, anyone can learn and understand what these things are and where they fit in terms of security, backups, etc. ![]() With so many things to remember it can get quite complicated until you get your head around it.īeing your own bank is hard and is not for everyone. Then there is the PIN if you are using hardware wallets. Many are using passphrase without knowing that they are using one. Many new users keep thinking what happens if I lose my seed phrase? What is a passphrase and what goes wrong if I lose it? And what is the difference between seed phrase and passphrase?. It can get confusing for new Bitcoiners who are setting up their wallet for the first time. If you are new to Bitcoin and crypto space then all of these terms might sound scary. These are basic security features used by cryptocurrency wallets.
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