What is a Seed Phrase and Why?
is it needed?
How to use the seed phrase can
restore your wallet
and how safe is it?
You are on the channel crpytoinside and we
begin.
If you trust the third
persons in the possession of your
funds, then you do not need
Bitcoin.
It is better to trust the bank,
than to some unknown
server on which the
your bitcoin wallet.
Cryptography, on which
works bitcoin allows
make backups
wallets without any
third-party assistance.
In fact, if there is one
the only reason for
which because of Bitcoin
you can get excited, then
this is what: anyone can
fully control
their money.
Let’s begin with,
how can you recover
your wallet with
Seed phrases.
Most of the wallets
have a built-in function
backup.
Backup purse or Seed
the phrase (key) often consists of
from a set of random English
words, often from 12, sometimes
from 18 and 24.
Seed the phrase looks like this.
A similar chain of words is not
makes no sense,
but it can be
expensive sequence
words in the history of mankind.
Seed the phrase is all that
need to know to restore
your wallet, regardless of
about how many addresses
you created and how many transactions
held.
You can write a SEED key
on a paper sheet, copy
the contents of the sheet, put
him in the vault, engrave
words on stone, use
storage techniques and store
words in your head, make them
in the will.
It does not matter how you
do this if you could
save the key, so that
no one except you could not
read it, you can
format hard
drive, burn computer, throw away
phone in the ocean.
And even then you will have
possibility to restore
lost coins.
The sequence of words is everything,
that you need to know.
If you
can remember 12 words
from the SEED phrase, then you can travel
around the world, even without transporting
with a bitcoin, for example,
on hardware wallets.
If there is no device, there is no
purse, no coins.
But you can always restore
own funds at any point
of the world is important to know SEED
phrase.
No one can steal
you have money, and no one
can block them.
Is not this magic?
You can store money
in my head.
How to get a Seed Phrase and
where to restore your wallet?
Everything is very simple.
Download the purse program
with the support of so-called
hierarchically determined
wallets.
Since almost every Bitcoin-purse
supports this technology,
list of suitable wallets
is wide enough.
Some of them are Bither, Electrum,
Exodus, Jaxx, Ledger, Trezor.
These purses will require
from you record your SEED before
the way you can for the first time
open the purse.
After writing SEED, you have completed
the most difficult.
Now you have a line
with magic words.
But the most interesting question
remains open: how
you will restore your money?
When the hard drive breaks down
or the smartphone falls under
skating rink how you return access
to coins using a SEED key?
The most exciting thing about
the whole story is how you
will use the seed
to return access, you
see yourself sitting at
computer with fading
Heart, while the purse unfolds
your backup.
When you first use
a few words to restore
your coins on another system,
possibly beyond
thousands of kilometers from the one,
where you initially stored them,
this moment will be magical
for you and Bitcoin.
The easiest way to quickly
recover coins – use
the same purse as
you used to generate
The SEED key.
If a backup was created when
help Electrum, use
him; if used
Trezor, then again use
him, and so on.
You will be at ease
recover coins.
On some purses,
you need to search for an option
recovery of funds
from backup, to others you
a new
a purse from Seed.
After some searches,
you will find this option.
A special
field in which you enter
your magic words and
all money will be restored.
But it’s always so simple,
as it seems.
What if you lost your
device.
What if your Trezor broke down.
What if the server goes missing,
supporting work
wallets like electrum, jaxx
or bither.
How can I restore
your own funds in this situation?
The advantage of cryptography,
is that y
you always have your private
keys.
Seed phrase is the basis
to deploy all
your private keys
with all mathematical
severity.
Let’s go for a second
in cryptographic details.
There is a cryptographic
procedure, called “hierarchically
deterministic wallet ».
She translates the SEED phrase
To the master key, from which
all other keys are deployed
in deterministic order.
Simply put – your Seed key
works independently of
type of purse.
He does not need to be trusted – this is
mathematics.
The backup that was created
with the help of Trezor’s purse,
will work and in Exodus.
The only problem
is that there is
two types of standards.
At that time, as a key
phrase (SEED) and master key
are equally standardized,
there are two ways
recover keys
and address of your wallet,
they are called BIP32 and BIP44.
So, if you created
SEED using a wallet with
support BIP44, like Bither,
and try to restore
him with a purse
with BIP32, such as Electrum, then you will open
empty wallet.
Hence, it is necessary to find out,
what wallet is suitable
recovery.
Now on your screens
table showing paths
deployments that
used by the most popular
crypto-currency wallets.
The list is not complete, and there is no guarantee,
because there is no exact information
about which wallet uses
what BIP.
In addition, there is
several implementations of the method.
For example, some wallets
like Ledger use the phrase
of 24 words, while others,
like Exodus, will use
SEED of 12 words.
And no, you will not get away
by simply being everywhere
use the first 12 words.
SEED of 12 words incompatible
with a purse that supports
SEED of 24 words.
Also, not all wallets use
and understand the same vocabulary
set, and some lacks
correct implementation
ways of deployment; eg,
Exodus can restore
only the first 4 addresses created by
with the help of the Master,
and on Coin.Space we did not have
opportunities to restore
addresses created with
another purse, and so
Further.
If you have difficulties
with the restoration of the wallet
due to uncertain standards
recovery, it is possible
visit website generator
BIP39 or BIP32.
Here, you can just
Enter your SEED-key, and get
all necessary for restoration
your media information.
First, the application will display
for you private keys
and addresses.
You can take them and use them.
to restore addresses
in Bitcoin Core, Electrum and others
wallets that allow
import private
keys.
Second, the tools will show
you “Advanced Key
BIP32 “(Extended Key) and Master Key,
which can be used
to restore your wallet
with the help of, for example, Electrum.
Many words, but the meaning is this:
it’s usually easy to recover
your coins with
secret phrase. You do not
It will take no IT-shnoy
wisdom.
If it is difficult for you,
and you are experiencing problems
compatibility of wallets,
everything you need
to get the keys – your
SEED.
In the worst case it will take
little work.
If the wallet is correct
will deploy private keys
from the master key, you will not lose
Its coins, the main thing – to keep
SEED to yourself and anyone to him
do not show.
Now, let’s go deep
in detail: what happens?
With the help of which such techniques
works the magic sequence
words?
And, after all, it’s safe
Is the whole process?
To realize the principle
work key phrase,
you need to know more
on how to keep bitkoy.
Perhaps you already know,
that you get coins with
help address.
This address is formed from
your public keys,
and they are formed from private
keys.
Thus, first
your wallet will generate
private key then it
unfolds a public
key, and then it transforms
public key to the address.
A very simple way to save
coins – just write
or keep your private
key in the encrypted file.
Private key
similar to a random set
numbers and letters.
Your SEED is the key,
magic door connected
with a whole world of keys and addresses.
This is something like a map showing
you where to find your bitkoy
in a vast ocean.
You can deploy keys
for Laitkoyne, Monero, Ethereum
and so on, from one and
the same key, that’s why
multicurrency wallets
Such as Jaxx or Exodus can
help one SEED-key
save many
crypto-currency.
In theory, the SEED-key is completely
is safe and rigid
mathematics.
But in fact you do not
missing just one more
one drop of paranoia to
say: but how can I be
I’m sure that SEED, produced
on my computer, I know
Only me?
In the event that wallets
like Electrum, Mycelium or Exodus
create a sequence
words, how do you know,
that there is no hidden
code sending words
to a third party?
And how can you know for sure,
Do you have spyware on your PC,
waiting until the bitcoin-wallet
will load SEED into an operational
memory, and then stealing
him?
You will never get
complete safety.
Never.
But you can get it
in a sufficiently high degree.
For this, you should use
generator BIP39, like that,
what offers to do
Ian Coleman.
Then, you save the site
for its use on
the hard drive of your computer,
turn off the Internet, and
run the site in mode
offline.
Now you can give the program
create SEED without connecting
to the Internet.
When the creation process
complete, write down SEED on
a piece of paper.
If you want to store it
in digital form, encrypt
file using a strong
password and the program
you trust.
Then scroll down and
write down the BIP39 Master key.
Scroll even lower, click
on Derivatives BIP44 (BIP44 derivates),
write down some addresses.
Selecting the addresses to receive
means depends on,
in which purse you are gathered
unfold them, some
read the derivatives of BIP32,
some from BIP44.
Multibit was able to restore
all types of derivatives.
Let’s check it all out
on practice.
For this, I downloaded the wallet
Bither to yourself on the computer.
When creating a wallet,
bither automatically generates
SEED phrase.
I write this phrase in
text document for
subsequent recovery
purse (this is not safe
and never write
SEED a phrase in a text document
without encryption). Remember
address of the wallet, open
in Bither.
Now, I’ve downloaded the wallet
coinomi on your phone for
restore your wallet
through the Seed phrase.
Further, I use the function
Restore Wallet I enter the SEED phrase
in the Coinomi wallet, which
I was generated by Bither.
After entering the SEED phrase, the wallet
requires a password
for the entrance and further we get
in the interface in which we see
the same address that
was in the purse of Bither.
Thus, only with the help of
SEED phrases from purse Bither
we have recovered our funds
completely through another
interaction interface
with a block – coinomi.
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