{"id":"seed-phrase","version":1,"language":"en","title":"Seed Phrase","hidden":false,"content":"Seed Phrase is a collection cryptographically generated of words, that is simply employed to access a user's Cryptocurrency wallet. Also known as seed recovery phrase, backup seed phrase, mnemonic seed, or mnemonic phrase, is utilized in recovering a cryptocurrency wallet. Seed Phrases are not linked to a particular cryptocurrency and can be used to access an entire portfolio of cryptocurrencies like Bitcoin (BTC), IQ token, Ethereum (ETH), and other blockchain-based assets.  \n  \n# Security issues & Seed Phrase  \n  \nUsers are to be oriented and aware of the risks that seed phrases pose to their cryptocurrencies. Users are to realize that:  \n  \n* If they lose their seed phrase, then they lose access to their money.  \n* If someone else finds or steals their seed phrase, they gain access to the user's money.  \n  \n# Losing Seed Phrases  \n  \nIf a user ever loses access to his/her wallet, these can be loaded into any BIP32-compatible wallet to recover his/her funds. There are 2048 words on the BIP39 wordlist, which implies that a string of 12 words would have 128 bits of security.  \n  \nThis means that an attacker would need to perform 2128 operations to guess a 12-word seed. It may look like a small number, but it certainly isn’t. It’s practically infeasible for even the most well-resourced attackers to crack this sequence (for now). The longer the seed, the more secure it is.  \n  \n# Storing Seed Phrases  \n  \nStoring a seed phrase on a device that is connected to the Internet (a Computer, a Tablet, a Smartphone) or on the cloud itself, for instance in an email or in a text file, is dangerous as connected devices are usually unsafe and can be hacked relatively easily.  \n  \n## Better Storing  \n  \nSince a seed phrase needs to be stored on offline support, the natural method is simply to write it down and store it in a secure place.  \n  \nIdeally, the seed phrase would need to be written down on a support that isn't vulnerable to common damage like humidity or fire. Paper is not a good choice, as it decays easily. A better solution that any user can find online is products to write their seed phrase on a stainless steel plate.  \n  \n## Conclusion  \n  \nSeed phrases are not cryptocurrency-specific. They can be used across hundreds of cryptocurrencies; so that one seed can actually be used to recover an entire portfolio of coins and tokens. The majority of leading wallets allow the user to recover their funds with a seed phrase, provided they have correctly recorded it.","summary":"Seed Phrase is a collection cryptographically generated of words, that is simply employed to access a users crypto wallet.","categories":[{"id":"defi","title":"Decentralized Finance"}],"promoted":0,"tags":[{"id":"Glossary"}],"metadata":[{"id":"previous_cid","value":"QmV2sDpGioidfEZ6tQnX2jGqvGaBi6UmFXR5LjHPQVC2V3"}],"user":{"id":"0x6753061a4cffbc0A617e57E956A298D88702a94B"},"author":{"id":"0x7da121Af2c3Fc2e65eDCD3573a403C352B4538Aa","profile":{"username":"Ilori_Josh","avatar":"QmVG5Mp6f1NeZ4xEwqS2jh75tjqiF9su8xCRVWrsnv2RFA"}},"media":[],"views":6,"ipfs":"QmV2sDpGioidfEZ6tQnX2jGqvGaBi6UmFXR5LjHPQVC2V3","transactionHash":"0x2e6547edef07c1f303cf3d1d108c93a33f5906d09a443833ca5ff9b3670c6d9a","created":"2022-08-10T01:43:31.242Z","updated":"2022-08-10T19:45:47.678Z","images":[{"id":"QmfDprSofbQdkDU8RaipNcm1kQ7KcakHddNLU3wjtAJNM2","type":"image/jpeg, image/png"}],"linkedWikis":null,"category":"daos"}