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Why you need to secure your seed phrase with steel crypto wallet
You should be positive at all times that your wallet recovery phrase is secure. It’s important to protect it from other individuals but in addition from unintentional damage from water and fire. Losing your seed usually means losing all your funds.
What is a recovery phrase?
All cryptocurrencies including Bitcion, Ethereum and others, use private keys and seed phrases recovery. Nowadays nearly all cryptocurrency wallets use BIP39 recovery seed phrase standard. Hardware or software wallet generates it randomly when setting up. Consumer is asked to write the mnemonic recovery phrase down and secure it.
The seed recovery phrase grants full access to the wallet and permits to set up all the accounts and private keys. We should emphasize, that without your seed recovery phrase you won't access any of your Bitcoins or different cryptocurrencies. This is why it is essential to make use of a trustworthy seed phrase backup.
This is equally vital to all kinds of wallets like:
· Hardware wallets like Ledger Nano, Trezor or Keystone
· Software wallets like Metamask, MyEtherWallet or Bluewallet
· Proprietary cryptocurrency wallets
It is like that because most cryptocurrencies utilize the BIP39 standard. It may be as Dogecoin, Cardano or Solana but you must take particular care of your recovery phrase.
Why you need to secure your seed phrase?
The recovery phrase (seed phrase or mnemonic phrase) permits anyone to have full access to your wallet, together with all your coins. This is a reason why you must always store your seed phrase in a secure location and ideally on a fireproof and waterproof metal crypto backup.
When you store your seed phrase written on a chunk of paper could be very fragile and can easily be destroyed. There are various situations that will put your crucial piece of paper in danger. Paper could be destroyed or made unreadable very easily.
It is sufficient that your water pipe breaks and you've got a water leak in your apartment or house. When your apartment is flooded, your seed phrase on a chunk of paper may not survive it. Wet paper gets unreadable very easily.
Paper can be flammable. If your apartment burns down, you will not have a duplicate of your recovery phrase. Probably also your pc with a wallet or your hardware wallet also burned down so you haven't any access to your funds and all of your Bitcoins are lost forever.
Your insurance will pay you back for a destroyed building, furniture and electronics however they will by no means pay you back for you lost cryptocurrencies that you lost just because you might have written it on a chunk of paper.
The opposite situation that you should protect your recovery phrase towards with stainless metal crypto wallet is throwing it out by an accident. Imagine your partner or different member of the family is making cleanup in your ‘old’ rubbish boxes. They throw it all out because it is just a box of old papers that has no value. However you hid your treasured seed phrase there. And now it is somewhere in your local landfill, not recoverable. You lost your funds.
This seems not very common. However there are tales of numerous people experiencing this - losing all their cryptocurrency because they just used a piece of paper. Some folks misplaced Bitcoins price literally millions (if not billions) of dollars just because their apartment got flooded by a neighbor or they did throw it out by an accident. This is the reason why everyone who is critical about their Bitcoins and crypto portfolio, secures their mnemonic phrase with the metal crypto wallet.
Methods to safe your seed phrase?
The very best kind of metal crypto wallet is one made from stainless steel. If made from stable stainless sheets it can survive almost anything. House collapse, fire, flood - anything. These crypto backups are made to final for decades. Stainless metal holds well even in seawater and is rust-resistant. It is wort spending around $80 dollars to be safe for a lifetime.
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