Sentences with phrase «mnemonic seed»
A mnemonic seed is a group of words that you can remember easily, which is used to recover and access your digital assets or cryptocurrency in case you lose your password or access to your account. It acts as a backup code that helps you regain control of your funds or account by simply remembering and entering those specific words. Full definition
Jaxx offers backup in the form of mnemonic seed generation.
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Exodus is encrypted and can be used to create mnemonic seed backups.
Its enhanced safety features enable the bitcoin wallet to hold a deterministic Mnemonic Seed.
Basically, a private key owner fills out the three mnemonic seed card which has 16 available areas to write down 2/3 of the seed phrase on each card.
A malware could easily steal your mnemonic seed which gives it an unlimited access to your wallet.
In that case, select Extend this seed with custom words and enter your password as the last word of the mnemonic seed.
Please, keep in mind that you should never enter your mnemonic seed anywhere unless your device was stolen / lost.
Some wallets let you extend the mnemonic seed with a password (e.g. Trezor's passphrase feature).
The backup will come in the form of a mnemonic seed or the private keys themselves.
Hardware wallets keep your coins in cold storage and will allow you to generate a mnemonic seed for backup.
However, Jaxx also comes with some security risks as the mnemonic seed can be accessed by rogue software.
During transactions, an OpenPGP chat interface is accessible directly in the browser, protected by an encrypted key tied to your mnemonic seed phrase.
Electron Cash is the forked wallet of Electrum, and it allows you to back up your wallet via a mnemonic seed phrase, like a true HD wallet.
Lots of cryptocurrency holders have written down 12 - 24 words for their mnemonic seed on a piece of paper, and then they usually hide the material out of view.