Securely Backup your seed and passphrase
Keep all your crypto safe & upgrade to a Ledger Nano X Hardware Wallet
Alternatively, if you prefer a 100% Open Source wallet, a Trezor One is also a great value wallet
A short video that looks at how to use the EFF 2.0 diceware list to generate a secure passphrase, ideal for a BIP39 wallet. (Can also be used with any crypto hardware wallet, Ledger, Trezor or Keepkey) Also looks at how to check your backup for those who are after a completely offline paper wallet. Some wallets will refer to a BIP39 passphrase as a 25th word.
Diceware Lists and Usage Guide:
If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.
For your first purcahse, just stick with CoinBase:
For Trading, just start with Binance:
By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)
Don’t have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger:
(If you are just starting out, I would just recommend a Ledger Nano S)
If this was helpful, feel free to send me a tip:
Generating a Secure Passphrase with Diceware
In my previous video I looked at some guidelines for selecting a secure 25th word (or BIP39 passphrase) but didn’t really talk about how you go about this…
⦁ Your passphrase is secure based on true entropy (randomness) and not just you coming up some way of obscuring a password that you think is secure. (Essentially taking an entropy short-cut that probably isn’t as unique or secure as you think)
⦁ EFF 2.0 makes it easy to have a passphrase that ca be memorable, secure and has fault tolerant backups.
1) Get some dice ($1) off ebay (or fancy ones from EFF if you want to support their great work)
2) Select a consistent way of rolling/reading the dice that removes your subjective choice. (eg: Don’t just roll them and read them in whatever order seems best to you)
*I will be shaking them in a box and reading them from left to right… (Consistent and easy to demonstrate)
3) Roll Dice enough times for 8 words (need 28 rolls), writing down result on paper in groups of 4 (Don’t just save and store the raw entropy)
4) Optional Step – Verify that your dice is fair(ish)
5) Commit your passphrase to memory and store a backup of it somewhere seperate to your 24 word seed. (In my opinion, it is sensible to store this in a password manager, but you can also store it on paper, titanium plates, etc)
⦁ Store it on a ColdTi if you want something that won’t burn, rust and will survive a toddler or pet eating it…
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source (Visit source at your own risk. Beware of possible scam link, scam chat, scam advertisement. Do your own research before you had decided to download, install, or invest in any product or crypto.)
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