SEED

ShinAlastor

Turn off your DM box and ignore all the private messages you already received, they are all scammers, don't share your 24 word SEED or private key with anyone and transfer your funds to a cold wallet such as BitBox02.

Cute-Army1913

I suppose there’s no any safety to write your SEED-phrase anywhere except a sheet of paper.

ShinAlastor

Get it on one of the major exchanges such as Binance or Kraken Pro then move your funds to a cold wallet. NEVER share the SEED of your wallet with anyone, don't take digital copies but engrave the 24 words on a piece of metal and hide it somewhere.

SoftPenguins

I am an average Joe. Setting up a hardware wallet. WRITTING DOWN THE SEED ON A PIECE OF PAPER and storing it in a safe place and never sharing that seed with anyone is not rocket science. The problem is when people aren’t responsible enough to follow this simple procedure or get lazy and take short cuts. CEX are safe and secure until they’re not. I’ve seen enough of them fall or get hacked to have learned my lesson from others mistakes.

shadyghxst

YOUR SEEDPHRASE IS YOUR WALLET not device ,not pin ,not app/software or anything else. YOUR SEED PHRASE IS YOUR WALLET and you can recover it on a new device or any other device or wallet software.

ShinAlastor

Transfer it to one of the major exchanges such as Binance or Kraken Pro. NEVER share the SEED of your wallet with anyone, don't take digital copies but engrave the 24 words on a piece of metal and hide it somewhere.

DanceNo7811

No. You need to understand you have short and long term memory, and remwmbering a seed is not the same as remembering a cvv card or your 4 digit pin. In most centralized systems you can risk that given that you will have a process to go to a central authority to reset it. Bitcoin is about descentralization. You will not have an office where you will go crying that suddenly you forgot one or three words of your seed and you realized that long term memory cannot be 100% trusted. Now. One thing you need to learn. Information needs 3 BASIC PRINCIPLES regarding security, called the triad of information: 1. CONFIDENCIALITY 2. INTEGRITY 3. AVAILABILITY (REDUNDANCY) Now. A folk that fails in redundancy thinking one seed in metal is enough. IS STILL FAILING. 2 OR 3 BACKUPS AS MINIMUM. No paper, No wood. Metal if possible (INTEGRITY) ___ BUT AGAIN. NO. SAY NO TO MEMORIZING YOUR SEED. ANYONE THAT SAYS THIS IS SAFE. Needs to read something about short and long term memory and how insecure can this be as a trusting method regarding seed phrases.

wazoo_68

> Your SEED is stored in your brain or whatever safe you locked it up in. *seed phrase. A seed is not the same thing as a seed phrase. > You can literally hand someone your hardware wallet and they cannot access your Bitcoin. Why not? What stops them? As I said before: They might need a pin and/or passphrase, and for that they just whack you with a wrench until you tell them.

CrispyMcWilliam

Dude YOU'RE not making sense. Your SEED is stored in your brain or whatever sage you locked it up in. You can literally hand someone your hardware wallet and they cannot access your Bitcoin. Are you new to.Bitcoin?

ShinAlastor

There are fire resistant metal plates for engraving your SEED.

wazoo_68

Your comments are not clear. > I don't understand...how can you rob somebody's bitcoin? Like...here's my hardware wallet? Good luck? They can't access it no matter what. Can somebody explain this to me? Here you imply that the attackers have acquired your hardware wallet, but are unable to "access" it. Why would the attackers be unable to access your hardware wallet, once it is in their possession? They might need a pin and/or passphrase, for that they just beat you over the head until you tell them. > Because it's impossible unless you know the SEED. Like you literally have to do some dumb shit like write the SEED or passcode down in plain site or just tell somebody. *plain sight, not "site" I presume that your private keys are stored in the hardware wallet. This would enable the attackers to access your "SEED". You are not making any sense.

CrispyMcWilliam

Because it's impossible unless you know the SEED. Like you literally have to do some dumb shit like write the SEED or passcode down in plain site or just tell somebody.

ShinAlastor

The cold wallet only memories your SEED into an encrypted chip, the cold wallet could be even destroyed that is not a problem, you can recover your funds until you have your SEED, that's why it is extremely important as I already wrote above to not share it with anyone, not taking digital copies and preserve it on a piece of metal hidden somewhere.

ShinAlastor

Get it on one of the major exchanges such as Binance or Kraken Pro then move your funds to a cold wallet. NEVER share the SEED of your wallet with anyone, don't take digital copies but engrave the 24 words on a piece of metal and hide it somewhere.

ShinAlastor

And never take digital copies of your SEED, just be sure to have an offline backup, you might engrave those words on a piece of metal and hide it somewhere.

chipsservant

Great summary intro for beginners. Only thing I’d add that is very common for beginners to get confused is that your hardware wallet doesn’t actually store your crypto. What is important is your SEED PHRASE, which your hardware wallet helps generate randomly. As long as you have this, you can restore your wallet on a different physical device even if your original one is lost/stolen/destroyed/etc. Anything stored on exchanges (aka purchased on an exchange like Coinbase and then not transferred to your own hot/cold wallet) is not in your custody and is not really yours (this is what people mean when they say NOT YOUR KEYS NOT YOUR COINS). It’s only truly yours when moved to cold storage. A lot of people learned this the hard way with the FTX fiasco. Welcome, good luck, DCA, and above all else - HODL!!!!!!!!

ShinAlastor

Don't share your SEED or private key with anyone. Ignore all the private messages you already received, they are all scammers.

ShinAlastor

Excuse me? What the hell is that site? Use legitimate sites such as Binance, Kraken or Coinbase then move your funds to a cold wallet, make an offline back up of your SEED - don't take digital copies of it - and don't share it with anyone.

ShinAlastor

Use a cold wallet and don't share the SEED with anyone.

ShinAlastor

Those people took pictures of their SEED and got a virus, that's why someone was able to drain their wallet or inserted their 12-24 word SEED into some phishing link.

ShinAlastor

Learn how to use a cold wallet and how to store the SEED offline properly.

ShinAlastor

Consider buying Cold Card MK4 or BitBox02 Bitcoin Only Edition, engrave your SEED on a piece of metal ( don't take any kind of digital copies of it ) and don't share it with anyone.

ShinAlastor

Turn off your DM box and ignore all the private messages you already received, they are all scammers. I would suggest Binance or Kraken Pro and then move your funds to a cold wallet such as Cold Card MK4 or BitBox02 Bitcoin Only, engrave your SEED on a piece of metal ( don't take any kind of digital copies of it ) and don't share it with anyone.

ShinAlastor

Ignore all the DM messages you already received, they are all scammers. Download Electrum from the App/Play Store and import your SEED.

dunyayabakipgulumse

│Entrance hidden by │Bricks and rubble ▂▃▂▅▇▅▅▇▄▃ ┳ ║ ║▔▔▔▔▔▔▔ │ ╚╗ ╔╝ │ ║ ║ 6ft ╚╗ ╔╝ │====o ╚════│════════╗ │ │║@ SEED PHRASE║ ┷ │╚│═════════════╝ Air vent │ │Fan

dunyayabakipgulumse

│Entrance hidden by │Bricks and rubble ▂▃▂▅▇▅▅▇▄▃ ┳ ║ ║▔▔▔▔▔▔▔ │ ╚╗ ╔╝ │ ║ ║ 6ft ╚╗ ╔╝ │====o ╚═════════════╗ │ │║@ SEED PHRASE ║ ┷ │╚│═════════════╝ Air vent │ │Fan

ShinAlastor

Don't share your SEED with anyone.

Extreme_Nectarine_29

I write my keys on a paper, put on a box and **bury it**. **IT'S CALLED A SEED FOR A REASON!**

Top_Mind9514

You can also download a “Trust Wallet” from the App Store. You’ll have an option to backup your “seed phrase”. Do this manually. DO NOT BACKUP YOUR SEED PHRASE TO ANYTHING THAT IS, or COULD BE CONNECTED TO THE INTERNET!! Write your seed phrase down on paper. Your seed phrase is your “password” for your wallet. Make a couple of copies (on paper) and put them somewhere safe. Do not share them with anyone. Buy your BTC with Cash App. Either send your BTC from your Cash App directly to your medical supplier, or send BTC from your Cashapp to your Trust Wallet and then send it to the medical supplier. You’ll have to pay a small fee for each transaction/transfer. If you get stuck or have any questions please feel free to contact me.

shadyghxst

Yes its called SEED PHRASE

NautiNolana

Hell yeah! Been in the space since 2015 dm me if you want. NEVER GIVE AWAY YOUR SEED PHRASE UNDER ANY CIRCUMSTANCES, NO MATTER WHAT!!!!

shadyghxst

This sub always pushing newbies into hardware wallets but I believe user knowledge on how btc works and safe practices is the most important and first step in self custody. I go on Ledger sub and there are people using these wallets who cant even check a tx on an explorer or don’t even know that "hardware wallet” is just an overpriced dedicated device used to generate your SeedPhrase which is actually the real wallet and losing your seed it means losing your funds. Op I would advice you to download some hot wallets like BlueWallet, Electrum, Green Wallet, Exodus wallet, Safepal wallet etc and start experimenting with them. Learn how to write down your seed phrase and how to recover it. Eg you can generate a seed from bluewallet and then recover it using Electrum or exodus. The SEED PHRASE IS YOUR WALLET not any device or app. You can even send a small amount from your Coinbase into any of these hotwallets and then send to another hot wallet on your phone just to see how it works outside of exchange accounts. I learned a lot about Btc by downloading and using hotwallets , they are free . When you understand how It works you can even make your own cold or air gapped wallet with a phone without buying any hardware device.

Beat_Me_If_U_Can

SEED is minted at contract: 0xD4C317BBF03327E45752FecBdaC671e48c72C425 and it is an ERC20 token for now. Will be swapped to mainnet token at 1:1 Ratio. JAY token is not minted yet, we are planning to mint it once the platform is live on the mainnet.

bowdenta

Are SEED and JAY built yet, or are they just ideas? Are they ERC-20?

sita_wong

Thanks for your question! Think of it as "Exchanges as a Service." With an AWS account, you can run your own exchange using your domain name or brand. You maintain control over your exchange, fostering innovation and ensuring that your platform operates according to your rules and preferences. As for the SEED token, it has several utilities including paying for gas fees, earning validator rewards, staking for operating nodes, and facilitating cross-chain messaging and value transfer. As the ecosystem grows, we will introduce new utilities, governance features, and rewards. For more details on the potential use cases of SEED, please refer to our documentation under "Utility Token - $SEED." By providing a distinct purpose for $SEED and enabling the hosting of customized exchanges, we’re empowering our users to take full advantage of the decentralized finance landscape. Whether you’re looking to build your own trading platform or leverage $SEED for its numerous utilities, our ecosystem is designed to offer flexibility, security, and a dynamic user experience.

sita_wong

Thank you for engaging with us and for your valuable input! Let's break it down: >***Whats the point of fracturing utility into different tokens and NFTs? Why not just consolidate everything into one main token and NFT to make it less confusing?*** **$SEED** and **$JAY** serve distinct purposes to enhance the ecosystem's functionality and user experience. * **$SEED** is our utility token, kind of like the Swiss Army knife of our ecosystem. It has multiple use cases, from fee reductions to staking rewards. Plus, you can convert it into $JAY, adding a layer of flexibility and utility. * **$JAY** is the governance token. This is your ticket to having a say in the platform’s future. Holders of $JAY get to participate in crucial decision-making processes, ensuring the community’s voice shapes our path forward. Think of it like UNI for Uniswap – it’s all about decentralizing control. Now, onto the NFTs – these aren’t just shiny collectibles; they function similarly to VIP levels in centralized exchanges. Owning these NFTs can grant you exclusive benefits and rewards, enhancing your experience and potential gains. Why not consolidate everything? Separate tokens give us the flexibility to adapt and evolve. As the ecosystem grows, we can introduce new utilities, governance features, and rewards without overhauling the entire system. This adaptability is crucial for staying ahead in the fast-paced crypto world. Mixing these utilities into a single token or NFT could lead to chaos in value conveyance and utility overlap. By keeping them separate, we ensure each element serves its purpose efficiently, maintaining clarity and balance in the ecosystem. This structure allows us to cater to various user needs without compromising on functionality or user experience. **In short, having different tokens and NFTs ensures that our ecosystem is robust, flexible, and user-focused.** It might seem complex at first, but it’s all designed to provide maximum utility and engagement for our community. >***Any plans to add advanced orders in the future? Why is the spread like this? Is it a liquidity issue or is this the intended way that orders work on the orderbook?*** What you tested was our test platform, designed to collect data and evaluate features. The current order book experiences delays due to order routing and grouping. We are running a market-making (MM) bot in the backend to provide liquidity; however, it is not optimized, as we only spent six hours developing it. We apologize for any inconvenience and are committed to improving this before our official launch. We are in discussions with several major market makers who will support liquidity at launch. Additionally, take profit (TP) and stop-loss (SL) orders will be available by the end of next week, with other order types to follow. >***How do you plan on attracting liquidity when the platform actually launches?*** >*And to top it all of, your docs state that there will be "voluntary" KYC and AML thru third-party verifiers.* ***Whats the point of having it voluntary?*** The JayX platform offers "voluntary" KYC (Know Your Customer) and AML (Anti-Money Laundering) through third-party verifiers to provide flexibility and user choice. By making these processes voluntary, users can decide whether to undergo verification based on their preferences and needs. This approach allows users to match with exchange nodes who require different levels of verification, catering to varying levels of privacy and compliance requirements. The goal is to balance security and user autonomy, ensuring that users have control over their information while still enabling a secure and compliant environment. >*So, the platform seems underdeveloped for something that quote: "challenges the foundations of traditional financial systems". If you can deliver on these promises, then JayX can surely become one of the biggest decentralized trading platforms, but for now, it looks like just a primitive dYdX.* Thank you for your feedback. We understand your concerns and appreciate your honesty. While the platform is still in its development phase, we are committed to delivering on our promises and continuously improving our features and infrastructure. We’re fast-growing and make **new iterations every week** aggressively. We believe that great products come from countless iterations. That's why we need serious users like you to provide feedback and grow with us. Your insights are invaluable in shaping JayX into the powerhouse it’s destined to be.

mmstoin

Thank you for reading our docs! Yes, $JAY token holders can vote on additional coin listings. This is part of the decentralized governance system on the JayX platform, ensuring community involvement in key decisions. An estimated 100 million $JAY tokens will be minted. $SEED token holders can swap their $SEED tokens for $JAY at a specified ratio. The team allocation is still under consideration, but the goal is to balance community and team interests. The team aims to hold no more than 15% of the total supply in the long term but will retain a sufficient amount initially to drive the project forward.

Bitcoinoverlord

Hi and thank you very much for this AMA! I have been following the MPC prospect in the NEAR protocol and find it fascinating. Here are my questions. 1. What is the difference and advantages of using MPC over simply using hot wallets with multisignature that divide private keys into several shares? As far as Im aware, both are fairly fast with transaction speed. 2. While the idea of chain abstraction to simplify multichain transactions is very appealing for your average Joe, does that not inccur additional SEED fees for the intent relayers/validators (on top of the regular cross chain tx fes)? If so, does that not make the whole prospect fairly unappealing for low volume high frequency traders? 3. If my understanding is correct, abstract chain transactions wind up with 1 MPC wallet holding all the assets. If that is the case, isnt the whole thing fairly centralized?

mbdtf95

What exactly do you mean by saying that your platform enables hosting of our own customized exchanges? Sounds interesting, but not sure how that actually works in practice... Also, as for your official token SEED, what is its main purpose and what are its utilities, aka what is it meant to be used for (governance, paying platform fees etc...)?

mbdtf95

What do you mean by saying that your platform enables hosting of our own customized exchanges? Sounds interesting, but not sure how that actually works in practice... Also, as for your official token SEED, what is its main purpose and what are its utilities, aka what is it meant to be used for (governance, paying platform fees etc...)?

mbdtf95

What do you mean by saying that you enable hosting of our own customized exchanges? Sounds interesting, but not sure how that actually works in practice. Also, as for your official token SEED, what is its main purpose and what are its utilities, aka what is it meant to be used for (governance, paying platform fees etc...)?

etj103007

cool another AMA instead of commenting multiple generic AI-generated questions (like certain users...), I'll be focusing on asking stuff based on your docs. From what I can see, JayX aims to provide basically everything an CEX would do (spot, margin, etc.) but **whats the main distinguishing feature of this platform** between DyDx, which also uses ZK-proofs and is multichain. Or GMX, which provides derivatives. firstly, your ecosystem has multiple tokens and NFTs which is all very confusing. And none of them are even launched yet. $SEED - the "utility" token, like a CEX's token, has multiple use cases, can be converted into JAY $JAY - the "governance" token. EGG, BIRD, a Mockingjay, and Hammer NFTs, all for garnering more rewards. **Whats the point of fracturing utility into different tokens and NFTs? Why not just consolidate everything into one main token and NFT to make it less confusing?** now, for the actual platform itself... So far, JayX seems to only be a spot market in demo mode, so some of my observations may change but please bear with me. JayX really likes to show off the decentralized order book. Looking into it, the spread is horrific (1000 buck or 1.5% difference between bid and ask on BTC alone). For some reason, there are filled orders being shown that are filled at current price... somehow, **despite none of these orders even appearing on the orderbook itself.** If I place a limit order in the middle of the spread, it gets filled, but takes a while to do so. Even with the filled orders list showing prices lower than my limit buy and/or higher than my limit sell. If I place a market order, it takes only the orders from the orderbook, which also includes the horrible spread. On the topic of orders, placing orders seems hard and with 0 ways to edit it. No way to specify types of orders (GTC, FOK, and others), no way to set TP or SL, trailing stops, etc. **Any plans to add advanced orders in the future?** **Why is it like this? Is it a liquidity issue or this is the intended way that orders work on the orderbook?** **How do you plan on attracting liquidity when the platform actually launches?** And to top it all of, your docs state that there will be "voluntary" KYC and AML thru third-party verifiers. **Whats the point of having it voluntary?** So, the platform seems underdeveloped for something that quote: "challenges the foundations of traditional financial systems". If you can deliver on these promises, then JayX can surely become one of the biggest decentralized trading platforms, but for now, it looks like just a primitive dYdX.

hcm1976

U right! He always has the right answer!! One time I told my wife that with bitcoin ATH we may Lambo soon but she told me he is more the Porche kind of guy… she even forced me to hand over my seed to him… I came in a glass, handed it over to him - she got mad and told me NOT THAT SEED YOU CUCK… it is a hard life

Educational_Speech58

So true You must Know The Inter phase platform SEED PHRASES WORDS

adulbrev

I don't know where is the mistake. I just Get message Wrong SEED in Trezor suite. New device was needed because of my paranoid, I can't send my BTC to the software wallet. I sold other device after reseting it

Sawgrass78

Ledger is closed source code..."software whose author owns all rights to use, modify, and copy it." They announced a "security feature" in which they could resurrect your seed phrase and get you access to your bitcoin again through the backdoor in the event you lose or damage your hardware wallet. The market rightly recoiled in horror and they tried to dial it back by saying that capability doesn't exist, they were just proposing it as an idea. They also suffered a company breach in which their customer base's personal data was hacked (name, address, etc). Buy a coldcard or blockstream jade (BTC only, open source code). GENERATE A NEW SEED PHRASE. DO NOT USE YOUR LEDGER SEED PHRASE. Then transfer your bitcoin to the new wallet. You will sleep easier.

Obvious-Shop-6260

Give her my SEED… phrase

adulbrev

No. SEED = Money

HodlVitality

All you NEED is the SEED lol

Haunting-Student-756

Brother xpub was explained above. Your missing BTC “change” is likely on a change address in your wallet. Find your xpub and import to electrum or pair lever with electrum. MAKE SURE YOU DOWNLOAD THE RESL ELECTRUM AND DO NOT TYPE YOUR SEED INTO ANY COMPUTER EVER

No-Procedure8207

#1 Cold storage (Not your keys not your cheese)… #2 DO NOT EVER TYPE YOUR SEED PHRASE ONLINE… #3 Don’t talk about your holdings (You never know peoples intentions)… other than that.. Relax and enjoy the ride 😎

xXCsd113Xx

DO NOT SPLIT YOUR SEED LIKE THIS!!! You should know better. Seed words are not just random, some of these words are checksums, 6 of 24, of that list contains a checksum gives a huge amount of information to an attacker, makes brute forcing the rest exponentially easier.

gregzaj1

You don't need to computer if you have his seed phrase. DO NOT REPLY TO ME WITH THE SEED PHRASE. You can restore the wallet to any hardware wallet/signing device if you have the seed phrase.

ShiningEnigma

Uh oh. What if I don't got no SEED?

ElectronicGas2978

> Your SEED PHRASE is NOT your wallet, instead it's merely your signature on the public ledger. Your seed phrase is not on the public ledger. How much drugs are you on?

Raverrevolution

LOL rookie! Your SEED PHRASE is NOT your wallet, instead it's merely your signature on the public ledger. You only think it's your wallet because otherwise no one would understand the analogy.

ShinAlastor

No SEED, no thanks.

Yodel_And_Hodl_Mode

I know you didn't ask, but hopefully this will be helpful. Here's my advice for the future: Get a hardware wallet that is 100% open source and air gapped. SeedSigner or Krux. SeedSigner runs on a Raspberry Pi. Krux runs on a Maix Amigo. I prefer Krux. This is where you'll enter your seed words. Nowhere else, ever. Get a wallet app that is 100% open source. For Bitcoin, BlueWallet is great on mobile devices and Sparrow is great for desktops. DO NOT TYPE YOUR SEED WORDS INTO IT. Instead, you'll use it air gapped, which means you'll scan QR codes to use it. It'll work like this: Let's say you make a transaction with your wallet app. The app will give you a QR code to scan with your hardware wallet, to get a signature. You'll scan the QR code with your hardware wallet, and it'll give you a QR code containing the signature, to scan with your wallet app. Your wallet app gets the signature & does the transaction. Two QR scans & done. Scan the first QR to request a signature. Scan the second QR which has the signature. Done. Using an air gapped wallet means scammers and keyloggers, etc, have no way to access your keys. The only thing a scammer could hack into is your signature, and since a signature is only valid for that one exact transaction, if they try to change it, the signature won't be valid & the transaction won't go through. For example, let's say a hacker gets into your phone or your PC and tries to steal from your wallet. Your keys are air gapped, so they can't get them. And if they steal a signature & hack it to send the coins to them instead of wherever you were sending them, the hacked signature will fail, because signatures are just math and the math for the hacked signature won't be correct. If decide to get an air gapped hardware wallet, start over with a new seed phrase so you can be 100% sure it's safe. Best of luck going forward! I hope this helps.

shadyghxst

I don’t think you know what a "Cold wallet" is since you can literally make a cold wallet for free with a phone or pc that has no internet connection. What you are referring to is a "Hardware wallet" and it’s not synonymous with cold wallet although reddit seems to use these terms interchangeably. Also you need to understand that your SEED PHRASE is your wallet not device or any app.

Vakua_Lupo

I wrote my Seed Words on a sheet of paper, with the words SEED WORDS in capital letters. I then pinned it to the Noticeboard of my local Garden Club! So far all my crypto is still in my wallet!

Yodel_And_Hodl_Mode

Good question! No one should rely on their memory for securing their Bitcoin. That's the road to disaster. You should write down your passphrase and make a backup copy too - preferably on metal (in case there's a fire, flood, or anything else that could ruin paper), and store it separately from your seed, never together. It's fine to store your passphrase in a password manager. NOT YOUR SEED! But, yes, it's fine to store your passphrase in your password manager so long as you don't label it as something like "My Bitcoin Passphrase." For example, even if your password manager gets hacked, a hacker would never know this is your Bitcoin passphrase: > about whistle youth Miami road Jeff Another approach is to use something only you know as your passphrase. For example, I'm the only person who knows where I was on New Year's Eve 2010, and it's a town no one could ever guess. I'm the only one who knows the first record I was ever given. I'm the only person who knows what I named my goldfish when I was a kid. So, if I used those as my passphrase, I would write it like this: > Pine Island Remain In Light Frank And I would write this down: > My passphrase is where I was on New Year's Eve 2010, the first record I was ever given, and what I named my goldfish when I was a kid. > Write it down with each name capitalized, and no commas. Write it exactly like this (but these are fake answers for the sake of an example). > New York Full Moon Fever Goldie

Revolutionary-Ebb-26

The seed phrase is equivalent to the wallet. If someone knows your seed phrase they can access your funds from anywhere in the world just like you could. Understand that your seed phrase is your wallet. Your SEED = FUNDS

shadyghxst

The SEED PHRASE is your wallet not device. Make sure you WRITE it down correctly as it appears and keep it SAFELY. As long as you have it you can always recover your wallet anywhere and not just on Trezor wallet.

StatisticalMan

Yes and OP has likely seen this hundreds of times. Everyone who gets burned like this gets burned because they try to outsmart themselves. Anything online and digital has so many magnitudes higher attack surface than an analog offline only seed (i.e written on paper or metal only). Many many many magnitudes higher. It is just a massive increase in risk. With crypto it only takes one mistake, one lapse, one malware and it will be gone instantly. DO NOT STORE YOUR SEED PHRASE IN ELECTRONIC FORM. NOT IN AN EMAIL. NOT IN A PASSWORD MANAGER. NOT IN A TEXT FILE. NOT IN AN ENCRYPTED TEXT FILE. NOT IN A PHOTO. DO NOT STORE YOUR SEED PHRASE IN ELECTRONIC FORM. Use a hardware wallet. Get in the habit of only storing your seed phrase offline in analog form and only entering it directly into the hardware wallet. Never enter the seed phrase into any app or website even if you are "sure" it is legit. Doing all of that creates a very powerful mental and physical firewall. The attack surface decreases by many orders of magnitude.

cienfuegos__

I'm sorry to hear it, but it can't be said any clearer: DO NOT STORE YOUR SEED PHRASE ELECTRONICALLY. You stored it in your email and thats what was compromised.

GrayersDad

What exchange, how long until you get your hardware wallet, do you want to pay network fees twice, you've been comfortable with your Bitcoin on the exchange for the past few months so what has changed, are you comfortable taking self custody. You'd probably be just as safe, if you're using a fairly popular exchange and will be getting the hardware wallet in the near future, but if you're comfortable taking self custody, and don't mind paying the extra network fees, transfer your Bitcoin to the hot wallet and deleting it shouldn't pose a significant risk either. SAVE YOUR SEED PHRASE!!!!! You said you've been saving for a few months, and not knowing your financial situation, I don't know if you have 1 Bitcoin or 0.01, but something else to consider is UTXO management. When moving Bitcoin to your cold wallet, the transfer should never be less than 0.01. This will help reduce future network fees, when or if you need to transfer your Bitcoin again. Probably more than you wanted to hear, but I'm a rambler.

spitefully_empty

He is comparing you a vulnerable bait for the sharks. Internet has many hackers and scammers, and you just publicly announced that you have 6 figures of money ready to be stolen. SEED PHRASES are essentially your password. Never share it. Bitcoin transactions are irreversible. If you don’t know what you are doing, take your time. Stay safe and sorry for your loss.

joannew99

If its 1/3 of your life then you can afford a $60 Jade wallet or learn to use Electrum which is free. If you feel you are too incompetent to manage a 24-word seed phrase, then use a 12-word seed phrase and add a passphrase on top of it. And If you feel you are too incompetent to not lose this seed + passphrase, then store 1 part (seed) in an encrypted USB or cloud server and then store part 2 (passphrase) in a different USB or password service/cloud server. That way you always have access and no risk of losing it Don’t store them together and don’t title the documents “SEED PHRASE” or “PASSPHRASE”

Dumusstmich

i trust the coldcard generated SEED more, also because i used a passphrase what I didnt do on the ledger..

derbyfan1

Lets clear this up. Even if you opt in, YOUR SEED SHOULD ONLY EVER, EVER, EVER BE KNOWN / HELD BY YOU. Nobody else. EVER unless you give it to them. By giving your seed to anyone else, you can consider your coins compromised. Remember the white paper - Verify dont trust. If your going to trust them, then you mas aswell leave your coins on an exchage ala Celcuis, FTX.. The fact Ledger have revealed a back door is hugely alarming. Its a huge red flag. WHEN not IF they are hacked, Ledger loyalists will be up in arms.. but the signs were always there. Never a Ledger, Forever a Trezor.

anthonyevans777

LEDGER - been a ledger customer since 2017. I never had an issue or got hacked. Bought a new ledger in 2020 in hold all my corn there ever since…. Just always buy from ledger and NEVER EXPOSE THE SEED PHRASES!!!! Do not trust anyone with those words or you’re screwed!! I keep my ledger in a security vault in a bank underground. It will never see the day light

IdentifyAsUnbannable

YouTube is your best friend. Remember, cold storage is really just a key to your wallet. You could lose the actual hardware device. As long as you remember your seed phrase, you can recover your crypto. Remember, NEVER TELL ANYONE YOUR SEED PHRASE. Those are the keys to your imaginary vault per se. Start watching coin bureau on YT. You can learn alot from guy. https://youtube.com/playlist?list=PLk1ALX7IOH_npyk1W_88gxTDpTEfZg_Og&si=XLkpkZ6xUH47TE88 That's a link to his educational guide.

helloworld987456321

This. Your last sentence is what i have been unable to get reddit to understand , though im sure the breakdown is on my end. My thinking was to use the Ian Coleman "IC" site for its strengths and choose; a different language as any hacker getting it from the USA would likely try English tick the B39 passphrase derivation 84 (I was just saying 32 because earlier because it was the standard and messing it with is a good way to make your coins unrecoverable) thru experimenting I realized only 84 will produce bc1 addresses, which I think is best going into the future. Thats the easy part, but how to enter it into Electrum and get the "unlimited" addresses. The IC site has the ability to show QR if you roll over the text addresses. 1. Open Create Wallet in Electrum, (if the next choice was Import Private Keys that would be great, but I couldn't get the QR window to except the QR code from the IC website and i sure as h--- am not going to trust myself to type it in. 2. Open Create Wallet in Electrum, Standard Wallet, Use a Master Key - stumped...Master Key has both Public and Private Keys yes. IC site doesn't make it clear. 3. Open Create Wallet in Electrum, Standard Wallet, I have a seed, switch SEED TYPE from Electrum (drop down) to BIP39, enter 12 words, scroll down to tick box "Extend seed with custom words" (which always concerned me because people could add crazy words not in the B39 wordlist, they probably think it is the dictionary, 2048 seems small) then ENTER, enter 12 more custom words (this is another reason im using IC, I get a good set of 12 more words, hit enter retype your first 12, then your 2nd 12, enter, then the PassPhrase (HERE IS the main reason Im trying to use the IC -as long as it doesn't make my wallet unrecoverable- it generates a 100 digit passphrase, the longest allowable, in my brain -takes the longest to brute force, cut and past that in because I will be offline and the laptop won't be ever going back on (spare laptop). I really haven't decided whether to do a paper or thumb drive backup of the 24 seeds, passphrase and printouts of the MasterKey and Private Key, probably both in seperate locations. So what I can't tell is if its going to keep supplying address like I hope it will. An aside, I wish there was a wallet that used a mixed language wordlist, making it say 10x larger, but maybe 2048 is enough.

anon2414691

WHY ARE YOU RUNNING LEDGER LIVE??? WHY DON’T YOU HAVE A BACKUP OF THE SEED PHRASE??? Recording a seed phrase in metal isn’t difficult. In fact, it’s cheaper than a ledger.

shadyghxst

- Download a mobile app wallet like BlueWallet, Safepal wallet, Exodus wallet , Trust wallet ,etc. - Write down the seeds from the wallet you’ve downloaded and make sure to confirm its all correct - Now send your funds from trezor to your newly downloaded wallet . - Wipe and Setup your Trezor again , write down the seeds and make sure not to lose it again ( YOUR SEED IS YOUR WALLET not device , not app ) - Confirm everything is correct and send back the funds from the mobile wallet.

humble_hodler

There’s so much bad advice in here, yikes! DO NOT USE OPENDIME/SATSCARD OR ANY HARDWARE DEVICE THAT WONT LET YOU BACKUP THE SEED as a standalone wallet! I don’t know of it’s possible to use those in a 1/2 multi-sig config, but that’d be the only way I’d trust those long term.

na3than

Yes, I have all of those ... in stainless steel. I ALSO HAVE MY SEED MNEMONICS MEMORIZED. Why is that such a problem for you?

Hardmoneynow

This is a great idea. And to serve the community I will be offering this service for free. Simply DM me your seed phrase and mailing address. You are welcome! (THE ABOVE IS SATIRE...DO NOT EMAIL ANYONE YOUR SEED)

3utt5lut

Nothing wrong with a digital copy, it's just better if you're smart where you put it. If it says SEED and it's in your cloud folder, you're pretty much boned, but you can hide it pretty well and still have it available digitally.

FFMooch

HA! Not in this scenario. We are talking over 60k of money that was taken. Im against any theft, so this does suck. BUT if you're a long time lurker, then you've heard/read all the stories. Protect your seed phrase. Send to cold storage. Protect your seed phrase. Act as though the amount of crypto you have needs security equal to 10x the crypto you have. PROTECT YOUR SEED PHRASE. Its moments like this that normies see and decide to either stay out of crypto OR invest in paper btc etf. Either way, long time lurkers know better. Its frustrating.

fresheneesz

> the hardware wallet considers you a risk factor and thus refrain from disclosing the keys to you Trezors don't do that. > you might as well just securely store the keys directly, instead of its derivative that is the 24-word seed phrase No. You clearly don't know what you're talking about and shouldn't be giving people advice. Your seed is designed to be handled by humans and is what you use to recover your wallet. The "keys directly" are not. You will have a huge pain in the ass if you try to store the keys "directly" rather than the seed. It'll be far more error prone. This is simply not best practice so don't recommend it to people. What are you doing? > the private keys are a direct backbone of the blockchain and cannot be done without. The seed generates an HD wallet - an infininte list of private keys. You simply CANNOT store an infinite list of private keys without the seed used to derive that list. Your advice is shit and following it WILL cause people to lose money. STOP IT. You always need to backup your SEED securely. A hardware wallet is an electronic device that should be considered volatile - it could break at any moment.

analogOnly

Easy you take your phase and encrypt it. The output is the result of your cypher with your seed phrase. By using your cypher you can decrypt it. Warning: DO NOT PUT YOUR SEED PHRASE ANYWHERE ONLINE Here's an online example of how simple encryption works https://cryptii.com/pipes/caesar-cipher

kuzkokronk

Buy using a reputable exchange (Coinbase, Gemini, Cash App, River, Swan, Strike). Once you're comfortable with how bitcoin works, get a reputable hardware wallet (Trezor, Coldcard, Bitbox02, Jade, Seedsigner). Keep your 24 word seed phrase safe. The seed phrase, for all practical purposes, is your bitcoin. Treat it like you would an expensive piece of jewelry. Write it down on paper (or better yet, stamp it into a stainless steel plate). NEVER TYPE YOUR SEED PHRASE INTO ANY WEBSITE OR APP. Only type your 24 word seed phrase into a hardware wallet that you purchased directly from the manufacturer (not from eBay or Amazon).