hello,
Let's say I have a hardware wallet with a 24 word recovery phrase. If I lose the hardware wallet or if it gets destroyed, I can restore my coins with the 24 words - but only if I have a wallet of the same kind, correct?
A recovery phrase created by ledger will not work with a BitBox hardware wallet, will it?
Let's say a thousand years from now, bitcoin is worth 999 trillion $. A guy then finds my 24 word recovery phrase. Will he be able to restore my bitcoins? Even if neither ledger, BitBox nor any other hardware wallet exists? So I guess my question is: Is there a standardised algorithm to recreate a private key from a recovery phrase?
Thanks!
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments