How to Protect Your Seed Phrase From Hackers. Seed phrases, also known as mnemonic phrases, are the first line of defense when using a crypto wallet. They are usually randomly generated by a wallet software and come in 12 to 24 word batches. These words are the binding keys to help identify and link a wallet address to a particular user.
In the event a wallet’s seed phrase is accessible to a third-party or bad actor, the chances of recovery are pretty slim. Given that these lists of random words are the keys to your cryptocurrency wallet, it’s important to take the necessary steps to keep them safe.
Regrettably, there’s no one solution that works for every crypto wallet in the market. This means, each protective measure is as powerful as the crypto wallet it secures and the user’s personal security needs.
Below, we consider some of the most popular ways you can safeguard your seed phrase from unwarranted access.
Paper Wallets
Paper wallets are some of the oldest and least secure types of storage mechanisms out there. Just like the name sounds, it is a wallet written out on a piece of paper. This way, a user’s seed phrases are noted down on a piece of paper and kept in a secure place. Paper wallets are very simple to use and effective.
Nonetheless, they are easily damaged either by water or fire and can be mistaken for trash. To reduce a potential shortfall, storing your seed phrases on a paper wallet requires a very secure location to mitigate against these hazards.
If you hold or intend using a paper wallet to store your seed phrase, these are some measures to take to secure them:
● Write out the entire seed phrase manually using an invisible ink
● Encrypt the seed phrase using a cipher (only accessible by you in a secure location)
● Split the seed phrase across multiple locations to ensure continued access if one is lost
● Go old school and store in a bank safety deposit box.
Metal Wallets
If you’re in search of a step-up to a paper wallet, metal wallets are the ones to go for. They are simple and easy-to-use. Even better, they provide a physical backup of your seed phrase and you can easily store them in a secure location as well. The difference between both is that the seed phrase is engraved on a piece of metal. Further difference between paper and metal wallets is that the latter is fire-resistant, water-resistant, and a few are corrosion-resistant giving users a more robust storage option.
To use them, anyone can purchase a metal and engrave the seed phrase on it. Popular choices for this include stainless steel, titanium, and aluminum. Everyone of them come with different price tags but they are a more secure outlet for safeguarding your mnemonic phrase.
To further secure your metal wallet, use these steps:
● Own multiple metal wallets to engrave your seed phrases on
● Store them in multiple locations to reduce chances of loss
● A bank safety deposit box should be explored
Hardware Wallets
The holy grail of securing digital assets, hardware wallets are physical storage mechanisms for blockchain-based tokens. They are usually offline earning them the ‘cold wallet’ tag. Due to their non-active nature, hardware wallets are considered the more secure option as they’re harder to hack by malicious actors.
With this option, your seed phrase is isolated from the internet reducing the chances of loss. In the event the physical hardware wallet is stolen or lost, the seed phrase is still secured. This is because hardware wallets offer the option of biometric and pin codes enabling better security for your wallets.
The best way to further enhance your hardware wallet experience is to:
● Combine it with a metal wallet to engrave your seed phrase. This is because you might forget the access pin code to the wallet and some wallets don’t offer seed phrase retrieval once inserted. Also, if the hardware wallet is lost or broken, you can easily use the metal wallet to recover access to it.
● Store the metal wallet in multiple locations
● A bank safety deposit box should be explored.
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