MultiversX Tracker is Live!

How I Secure My Seed Phrase - Critique Welcome

All Cryptocurrencies

by COINS NEWS 54 Views

When you consider the fact that your seed phrase is as good as cash if anyone were to get their hands on it, I don't know why you would ever want to record it in plain text. Sure, stamping it in steel makes it pretty much bulletproof but you're still relying on a "security by obscurity" approach.

What if someone breaks into your house while you're on vacation? You'd likely never know until after your funds are long gone.

Even if you keep it in a safe deposit box, you can't be 100% certain that a bank employee doesn't have access to your box.

I think I've come up with a relatively simple solution to backing up seed phrases in a way that is far more secure than using paper wallets or "crypto steel" products (though, admittedly, a little more technically involved.)

This method is based on the simple concept that your seed phrase should always be stored in an encrypted state and should only ever be decrypted on an air-gapped device, preferably a device dedicated to this specific use and nothing else. The method goes like this:

  1. Create a secure, air-gapped environment to interact with your seed phrase:
    Download Tails Linux to a USB drive and boot it up on any old PC/laptop. DO NOT CONNECT IT TO THE INTERNET! KEEP IT AIR-GAPPED!
  2. Use KeePassXC, which is already included with Tails, to create an encrypted password database.
    (Use a very long, secure passphrase to secure this.)
  3. Put your seed phrase(s) in said password database.
  4. Copy the encrypted database to some OFFLINE storage. Burning to a CD-R is great as they have incredibly long shelf life and no electronics to fail like USB drives - DO NOT STORE IN THE CLOUD!
  5. Make as many copies of this encrypted password database as you like and store them in different physical locations to protect against fire/natural disaster/theft. (Remember to NEVER decrypt the database on anything other than an air-gapped PC, hence the purpose of using Tails.)

Now, if you ever need to restore from your seed phrase, you just need to boot Tails on any PC and open up one of your copies of the KeePass database. All you need to remember is your database passphrase, which can be pretty easy to commit to memory.

That's it! If you see any big oversights in this process, please let me know. I feel it's a very good system that requires very little maintenance but provides a lot more peace of mind that I don't have a clear text seed phrase just waiting for someone to stumble upon.

submitted by /u/ironmoosen
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments