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Author Topic: Additional Protection For Seed Backup.  (Read 454 times)
Julian ogan
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September 17, 2019, 10:06:55 AM
 #21

The issue of writing private keys or seed words on paper has taught me a big lesson that I can't forget easily. I lost all my tokens because of that, now I can't find where I kept my private keys. It happens that my phone got formatted due to steady optimization that couldn't stop. It's not about hiding your private keys, it's about keeping it where you can remember it easily

As I said earlier,

For protecting your Seed, you can use "Passphrase" which can be used as a 2FA for your wallet. In addition to a seed, there will be an extra password called Passphrase to unlock your seed. Some wallets also call this as "seed extension". Passphrase will be used as an extension to a Seed. We need to remember both of them to unlock a wallet.

I think, we can keep the Seed(will be 12 or 24 letters long) safely in a laminated paper and store it in a bank locker. And we can remember the passphrase(13th or 25th letter in a seed) in our mind. Even if the Seed is lost or stolen, they cannot open the seed without a Passphrase. This would be a good idea to store the cryptos safely in a cold storage wallet that supports this feature. Some of the wallets that supports this feature are Ledger Nano S, Trezor wallet etc.

you could have used a wallet that supports Passphrase where you need have to remember the entire Seed. You just have to remember the seed extension rather than the whole seed.

In your case, you could have kept the paper(which contain seed) in your bank locker. It would be safe to keep it in a bank locker rather than keeping at a place where you don't remember.

Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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Lucius (OP)
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September 17, 2019, 10:40:35 AM
 #22

The issue of writing private keys or seed words on paper has taught me a big lesson that I can't forget easily. I lost all my tokens because of that, now I can't find where I kept my private keys. It happens that my phone got formatted due to steady optimization that couldn't stop. It's not about hiding your private keys, it's about keeping it where you can remember it easily

Why backup if it does not fulfill the basic purpose, to recover your coins in times when something unforeseen happens? Such things should not be forgotten, same as a mistake to keep cryptocurrency in phone wallet. It is not only about hiding, it is about how to make it safe, and maybe confusing if someone finds it. 12 or 24 words with a notice "This is my crypto wallet backup" will very likely be enough for the complete ignorant to understand what this is all about.

However you do not need to give up, your backup is existing somewhere, and if you try hard enough you might find it.

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Malvika_sitlani
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September 18, 2019, 10:11:49 AM
 #23

Please make a digital copy of your seed as it may decreses the security of your hardware wallet.
Keep your seed in safe with limited access.
Don't type your seed phrase on any website keep it safe.
If it is possible then try to keep your seed phrase with a password you can also enable two factor for this.

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