Thursday, July 4, 2024

Storing bitcoins with no pockets utilizing solely a seed phrase

You’re describing a chilly storage Account-Pockets, secured by a BIP39 Seed Restoration Phrase, (aka mnemonic phrase + passphrase) to permit regeneration of the seed.

That MAY be all it’s essential to recuperate your property in chilly storage property, utilizing any BIP39 and many others appropriate Pockets-Shopper.

After all, your Seed and mnemonic phrase (+passphrase) should be generated in accordance with the BIP39 normal. This isn’t to be assumed with Electrum, whose creator hates BIP39 with a ardour and has adopted different nonstandard programs for seed / mnemonics.

I counsel an amnesiac and airgapped Linux Dwell boot PC utilizing the iancoleman instrument and cube rolls myself.

Or a {Hardware} pockets, which might then later be reset to service your scorching account wallets.

Clearly your SRP is the “key to the dominion” – do not depend on reminiscence, nor select any phrases your self! Use a real random (excessive entropy supply) methodology to generate all of them. See EFF DiceWare notes to make sure a robust passphrase or maybe simply generate one other 12-word mnemonic for that.

I like to recommend then etching to a number of stainless plates distributed to a number of safe places, mnemonics separate from passphrase.

As to derivation path, should you

keep on with BTC solely, and

settle for the usual path(s)

and the default Zero Account#, and

use the addresses auto generated, with out skipping previous say 20 of the unused (google hole limits)

Then any trendy BIP39 appropriate wallet-client ought to discover all of your property as a part of the account pockets (seed) restoration course of, even many many years in future.

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