Controlling your 24 word seed isn’t good enough…

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If you want maximum security for your bitcoin you need to utilize a 25th word passphrase protected address to store the bulk of your net worth.

Too many people use far too complex ways to store their seed words that it actually hurts them in the long run and actually increases the percentage of you losing access to your bitcoin.

What you should do is create a passphrase that is unique to you and easy to remember, this passphrase should never be written down anywhere on paper or on any device that has access to the internet. This can be done easily using a Ledger Nano S.

This will generate you a address that can only be accessed once you input your passphrase into the ledger. You're 24 word seed alone will not give you access although you obviously will still need to have control of them.

Here's the best part, now that you've transferred your bitcoin into this passphrase protected wallet you do not need to worry about splitting up your seed or burying it in the backyard. You can have as many copies of it as you want to in as many places as you want because even if someone finds it they can't access your bitcoin without the passphrase that is in your head.

The only thing you will have to remember is the unique passphrase you created that hasn't been written down.

This is the method that Andreas Antonopoulos highly recommends as the most secure.

submitted by /u/diamondcuts17765
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Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $3959.25 USD  (via Coinbase)
1 ETH = $137.00 USD  (via Coinbase)
1 LTC = $58.74 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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