You signed in with another tab or window. Reload to refresh your session.You signed out in another tab or window. Reload to refresh your session.You switched accounts on another tab or window. Reload to refresh your session.Dismiss alert
Copy file name to clipboardExpand all lines: App.org
+39-10Lines changed: 39 additions & 10 deletions
Display the source diff
Display the rich diff
Original file line number
Diff line number
Diff line change
@@ -31,6 +31,8 @@ Bitcoin, Ethereum, etc. wallets.
31
31
The best practice for using these wallets is to load this "Seed" into a secure hardware device, like
32
32
a [[https://shop.trezor.io/product/trezor-model-t?offer_id=15&aff_id=10388][Trezor "Model T"]] hardware wallet. SLIP-39 Mnemonic cards contain the recovery words, which are
33
33
typed directly into the Trezor device to recover the Seed, and all of its Cryptocurrency accounts.
34
+
For the [[https://shop.ledger.com/pages/ledger-nano-x?r=2cd1cb6ae51f][Ledger Nano]] and other hardware wallets supporting only BIP-39 Mnemonics, you can now use the
35
+
SLIP-39 App to securely and reliably back up these BIP-39 phrases.
34
36
35
37
The [[https://github.com/pjkundert/python-slip39/releases/latest][macOS and win32 SLIP-39 App (download here -- .dmg for macOS, .msi for Windows)]] helps you
36
38
generate Mnemonic cards and back up this Seed, securely and reliably, by distributing Mnemonic cards
@@ -80,24 +82,24 @@ related to the Seed.
80
82
81
83
It is estimated that 20% of Bitcoin is already lost in the first 10 years of its existence,
82
84
stored in wallet addresses that can never be accessed because the corresponding "Private Key"
83
-
has been lost, or the password forgotten.
85
+
has been lost, or the passphrase forgotten.
84
86
85
87
The statistical chances of anyone successfully passing a Cryptocurrency wallet Private Key +
86
-
password or Seed to their heirs over a 50-year period is therefore very low. Since memory fades
88
+
passphrase or Seed to their heirs over a 50-year period is therefore very low. Since memory fades
87
89
and "safe" storage places are lost, destroyed or forgotten, this risk actually increases
88
90
exponentially over time.
89
91
90
-
I estimate the probability of successfully inheriting such a Paper Wallet + password or BIP-39
92
+
I estimate the probability of successfully inheriting such a Paper Wallet + passphrase or BIP-39
91
93
Mnemonic protected Seed is probably less than 50%. Perhaps *much* less.
92
94
93
-
*** Why Not a BIP-38 Encrypted Wallet + Password?
95
+
*** Why Not a BIP-38 Encrypted Wallet + Passphrase?
94
96
95
97
Have you ever forgotten a password to an online account?
96
98
97
-
Well, with a BIP-38 Encrypted Wallet + Password, there is /no password reset/ option; there is
98
-
no way to recover the password.
99
+
Well, with a BIP-38 Encrypted Wallet + passphrase, there is /no password reset/ option; there is
100
+
no way to recover the passphrase.
99
101
100
-
If the Wallet is lost, there is of course no way to recover it, even if you have the password.
102
+
If the Wallet is lost, there is of course no way to recover it, even if you have the passphrase.
101
103
102
104
This option is perhaps even less desirable than using a BIP-39 Mnemonic Seed phrase, because
103
105
each and every Encrypted Wallet is exposed to this risk of loss.
We recommend the Trezor "Model T" for this reason. No other hardware wallet yet supports direct,
157
157
on-screen SLIP-39 Seed recovery. This feature is, simply, so fundamentally important for
158
158
Cryptocurrency Seed security and reliability that we consider it a necessity.
159
-
159
+
160
+
If you already have one of the less expensive Trezor wallets that only support BIP-39 backup, we
161
+
also support those, using the same BIP-39 Seed Entropy backup via SLIP-39 as for the Ledger, and
162
+
other traditional hardware wallets.
163
+
164
+
** Ledger
165
+
166
+
The Ledger hardware wallets are also very popular -- but they can be recovered only using BIP-39
167
+
Mnemonics. However, you can now use the SLIP-39 App to backup your BIP-39 Seed Entropy!
168
+
Therefore, we now support the Ledger hardware wallets.
169
+
170
+
If you already have a BIP-39 Mnemonic, and would like back it up using SLIP-39 for more security
171
+
and recovery reliability, you can use the Pro Controls to do so. Later, when you need to recover
172
+
your BIP-39 Mnemonic, use the SLIP-39 App, select the Pro Controls, enter the SLIP-39 card
173
+
Mnemonics, and click "Using BIP-39" to reveal your original BIP-39 Mnemonic phrase. Then,
174
+
proceed with Ledger wallet recovery as normal, using the BIP-39 Mnemonic.
175
+
176
+
The [[https://shop.ledger.com/pages/ledger-nano-s-plus?r=2cd1cb6ae51f][Ledger Nano S Plus]] has a large screen, at a reasonable price point, and connects via USB-C.
The [[https://shop.ledger.com/pages/ledger-nano-x?r=2cd1cb6ae51f][Ledger Nano X]] has a large screen and supports connectivity via Bluetooth, for much easier
183
+
connectivity with mobile phone and laptop wallet software.
0 commit comments