Despite all the effort going into making cryptocurrencies as user-friendly as possible, there are some elements you can’t avoid forever. To be in charge of your assets, you must have total control over the seed phrase. Failure to protect it can mean a complete loss of your crypto.
In this post, we will explain the seed phrase has such a big role and how you can keep it safe.
What Is A Seed Phrase?
Also known as a backup phrase or recovery phrase, a seed phrase holds all the necessary information for accessing crypto on a blockchain. Each seed phrase is usually a unique combination of 12-24 simple English words. Most wallets generate it at the same time as the crypto address and associated digital keys.
In fact, this phrase acts like the more human-readable form of the private key, making it a perfect method for backing up your crypto holdings.
These words are much easier to write down. On the other hand, the meaningless combination of letters and numbers in the private key makes it more prone to human error. Wallet applications typically ask the owner to save it somewhere and even test if they can recall this phrase correctly.
There is a good reason for all of these requirements. This phrase is proof of your ownership, able to unlock every capability of your crypto wallet. You might lose your phone, or your computer might stop working. It doesn’t matter. You can just enter this phrase into a wallet and begin to access your crypto again with it.
This recovery ability also puts your crypto at risk if you lose control over your seed phrase. When you forget where the phrase has been noted down, or you delete the note storing it, there is a high chance of you losing your entire crypto funds.
Someone may also steal your crypto if they get their hands on your secret phrase. All they need to do is to import it to another wallet and withdraw your crypto to their accounts.
How To Protect Your Seed Phrase
When your entire cryptocurrencies are at stake, we can’t stress the risks associated with losing or misplacing the seed phrase enough. You must take necessary action to keep it safe and secure. And this burden rests solely on your shoulder.
Luckily, there are a few things you can do to secure your seed phrase. Some people use traditional methods like paper cards, but they laminate and put them in a safe. This will keep the card safe from accidents like spills or stains.
Others choose to engrave their recovery phrase into a more durable material like a steel plate. You can create several physical copies and put them at different locations. They prevent the scenario where the only card gets damaged and goes with it your recovery phrase.
You can repurpose many digital solutions for this as well. From notes to documents, there are plenty of options for saving your seed phrase. But they all have their own pitfalls.
Backup Your Seed Phrase With Locker
Password managers like Locker come up with a better tool to secure your seed phrase. Managing physical storage like notebooks and safes is a challenge, while hackers can easily open your note app and capture your recovery phrase. Lockers can eliminate all those risks and hassles.
This password manager gives each user a separate place for crypto backups. It is where you can add your recovery phrase and shouldn’t worry about its security anymore.
Locker uses industry-standard encryption to make it inaccessible to those without the master password. Other people can’t just get on your device and obtain your seed phrase.
There is no need to worry about a lost notebook or phone anymore. You can install Locker on multiple devices to have your crypto backups synced there. And even when all your devices are somehow unavailable, there are always encrypted copies of your backups on Locker’s server. You can just log into Locker to get the seed phrase and continue using your cryptocurrencies.
If you want to upgrade the security of your seed phrase, download Locker and make your backups right now.