Use a memorable seed and recover wallet anytime, anywhere. WALLET SECURITY

in #bitcoin7 years ago (edited)

When creating a crypto wallet, wallet application generates a random list of words - which is called seed - to create the private key. We're used to store that random list of words or seed in computer or on paper. But it's hard to remember in head. Wouldn't it be nice to create your own seed? I have just created a wallet with the below 12 word seed:

life is not about finding yourself but life is about creating yourself

I could've used, for example, one two three ... ... twelve. But remember that a seed should be easy to remember for the creator but difficult or near impossible for outsiders. Here's how I did it using Electrum BTC wallet:

  1. Click File > New/Restore and type wallet name; I chose test-wallet
  2. Choose Standard Wallet
  3. Select I already have a seed
  4. Paste seed in the textbox and click Options
  5. In the popup window, check BIP39 seed
  6. Leave the next field's value to 0
  7. Type a password to encrypt wallet
  8. Done!

Send a small amount of crypto to this account. Repeat the same steps in another PC and see if everything is in order, if the account can be properly recovered from seed.