Note: Not all crypto wallets support passphrase feature. Also, remember this passphrase always as forgetting it will result in permanent loss of bitcoin or altcoins stored in that wallet. passphrase as something which is very hard to guess or be cracked by brute-force. Note: One should keep this extra word i.e. That is why this feature is powerful and has the potential to save your funds even in the worst case where your seed or mnemonic phrase is stolen and even seen by others. mnemonic phrase, and “something you know” i.e.mnemonic passphrase – are required to unlock your bitcoins or altcoins. The mnemonic passphrase could be written down alongside the mnemonic phrase, or it could be memorized to create a two-factor mnemonic phrase where both – “something you have” i.e. Some wallets call this passphrase a “seed extension”, “mnemonic extension”, “Salt” or “13th/25th word”. This adds a second layer of security to your crypto wallet and both the mnemonic phrase and the extra word (password/passphrase) are required to recover the wallet. Tip: I understand it may overwhelming for you as a new user to understand these concepts, but as you put this theory knowledge into practical knowledge, it would start making sense. However, if they don’t have that one word passphrase, they will not be able to access your crypto assets. Imagine this, you would be making a note of seed words (Mnemonic phrases) on a piece of paper, and if someone gets access to that paper, they can steal your bitcoin or other crypto assets. The beauty of passphrase is, it’s usually one word and you can store it in your head. This extra password or word is called a passphrase. Whenever you make a new wallet, the wallet gives you a mnemonic phrase to store it safely but some wallets also ask a password to encrypt the 12, 18, 24-word mnemonic phrase. That’s why there is a mnemonic passphrase, which is, a sort of second factor or two-factor authentication for your crypto wallet. Mnemonic phrases are like back-ups that can store all and any number of bitcoins for you but it is quite dangerous to rely on just a string of words for securing all your funds. And that’s where mnemonic passphrase comes into the picture. It becomes of paramount importance to learn how to safely secure your mnemonic phrases for your Bitcoin and other cryptocurrency wallets. Well, that’s what mnemonic phrase is, and now it’s time to learn another concept called Mnemonic Passphrase What is Mnemonic Passphrase Another interesting thing to know, your crypto assets are not stored on your phone or a wallet, they are stored on blockchain, and these seed words enables you or anyone to retrieve crypto assets from the blockchain. Think of these words as password to access your crypto assets. In the situation where you lose your bitcoin or crypto wallet, you can always recover your coins using mnemonic phrase (Seed words). “If you don’t own your mnemonic phrase, you don’t own your cryptos.” Witch collapse practice feed shame open despair creek road again ice least Another example of a phrase on paper Not just that, there are several other benefits of using a mnemonic phrase: In such cases, all you need is your mnemonic phrase to recover all your funds. It is done in order to ensure you have had a back-up in a scenario where your device breaks down or becomes unusable due to any reason. Whenever you make a new wallet for storing Bitcoin or other crypto assets, the wallets prompts you to note down 12, 18, or 24-word mnemonic phrase or seed words on a piece of paper or in some secure place. These mnemonic phrases stores all the information that is needed at any point in time to recover your bitcoins or altcoins. On a similar concept, in the realm of Bitcoin or cryptocurrencies, we have a mnemonic phrase. If you break ‘mnemonic phrase’ you will understand ‘mnemonic’ stands for ‘ a system such as a pattern of letters, ideas, or associations’ which assists in remembering something, while ‘phrase’ stands for ‘ a small group of words‘. What is Mnemonic Phrase in Cryptocurrency world?Ī mnemonic phrase, mnemonic recovery phrase, mnemonic seed, seed key, and seed words are all different names of the same thing. Note: I have interchanged the word “Mnemonic phrases” and “Seed words” in this article, as both refers to the same thing. Let’s dig into them one at a time and help you correlate both in the end. Well, these two terms look alike but they are not. What Is Mnemonic Phrase & Mnemonic Passphrase What is Mnemonic Phrase in Cryptocurrency world?.What Is Mnemonic Phrase & Mnemonic Passphrase.
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