The seed phrase for your crypto wallet is the most important password you’ll need: If you lose it, YOU LOSE IT. The Crypto Coach shows you how to keep it safe and sound.
If protecting your seed phrase is the only thing you learn from reading my columns, then I’ve done my job. The seed phrase is the most important component when it comes to the security of your cryptocurrency. If anyone obtains it, they have access to all of your cryptocurrency and can wipe out your account. Handing your seed phrase over to someone intentionally, or unintentionally, is equivalent to handing someone your debit card and pin code. In this post, I’ll explain how to protect your seed phrase and show you some tools I use to protect mine. A seed phrase is a series of 12 to 24 words generated by your cryptocurrency wallet. For example: Write down your seed phrase and keep it somewhere safe. It’s your key to unlocking your wallet in the future if you ever find yourself in need to restore your wallet to a new computer or replace your hardware wallet. Four things you must never do: These are a few products I use to protect my seed phrases. Stored offline, these products can withstand water and/or fire and a host of other harsh or extreme conditions. They are saved physically (offline) — far away from online hackers — and are built to last. They range in price from $45 to $585, depending on the level of protection you want and how many seed phrases you need to protect: By now you’re probably wondering why you’d want to spend $110 for a stainless steel password protector.
