Post
Topic
Board Hardware wallets
Re: Introducing Cypherock X1, World's first hardware-based MPC Wallet
by
Nmnsth
on 23/12/2022, 09:58:29 UTC
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It's much more complicated and time-consuming to recover different seeds, but one alternative could be having multiple hidden wallets protected by unique passphrases. The recovery takes more time, but it works. 

The product supports passphrases. So if you find that easier for yourself, you can do that as well. It is just that we do not recommend setting up of passphrases for most users. The areas where they can make a mistake are just too many.

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An unauthorised entity getting hands on seedphrase backup can drain you out as they are so easy to recognise and the only component needed to wipe you out. If you extend the seed with a long and secure passphrase and keep the two separate, nothing can happen even if your seed is found.   

Isn't that a problme? You have to backup the seed phrase and the passphrase both securely now. If you lose one, the other becomes useless.

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You can make the same point for a seed or a passphrase even if they take up some more room. People make bodies disappear, a piece of paper with 24 words written on it shouldn't be that difficult.

PIN can be remembered also which makes it exponentially better than seed or passphrase. The idea is it is much easier to hide in plain site it than the 24 words which has higher pattern matching as seen recently. Additionally, with securing the seed phrases, the more obscure the setup is, the harder it is to make it inheritable.


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They should obviously make that backup asap to not run into problems of not being able to access their seeds if the device breaks or malfunctions. 

Not required since you can buy another device, and it will function like the old device. Else, you can also recover back your seed phrase from the two cards with the help of an NFC-enabled smartphone.