Privacy And Security Tips: P2P, Seed, Passphrase, Shamir39 (Crypto)

Privacy And Security Tips: P2P, Seed, Passphrase, Shamir39 (Crypto)


After reporting the advice on how to generate a seed with entropy, in this article we will see some other features related to security and privacy. I remind you that when handling crypto the thing you need to keep as carefully as possible is the seed and the private key. Access to own crypto is only possible thanks to this. In reality, your tokens are not in the wallet itself but are associated with a public key (receiving address) and therefore, consequently, with a private key. Without a private key it will not be possible to restore your wallet, in the event of theft, loss or breakage of your device (whether software or hardware). The wallet is just a display method that also allows you to send funds.


So generally speaking, these are the issues you should pay more attention to:

1) It is better to keep few funds on the exchanges (you do not own your own tokens) therefore it is preferable to use a software wallet (Electrum for example) or a hardware one (Ledger, Trezor, etc). If you are forced to use exchange you can buy and move right away. If you must trade, keep only the amount you need. If you are a privacy freak and don't want to use exchange, I recommend some P2P (no KYC) apps like Relay (if you need an invite code: REL145061 ) or Bitcoin Voucher Bot on Telegram. The funds will be sent directly to your non-custodial wallet. What's the downside? The fees are higher than the exchange. Usually 1-2-3% commissions are paid through P2P. Privacy and security cost money! Remember that these services are highly secure and anonymous (no KYC), however they have daily purchase limits (you cannot buy more than €1,000).

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2) The seed can be generated at high entropy, using dice. Basically, the composition of the numbers obtained gives me the 12 or 24 words that will allow me to generate my seed. I have covered two methods in this article, however you could also generate a seed with good entropy by throwing a die in the air 99 times. You will get 99 numbers from "1 to 6". You can use this tool (preferably offline), to generate your own: Bip39 (Ian Coleman Tool) (just tick the "show entropy details" box by entering the 99 numbers and the seed if with 12 or 24 words)

 

3) Passphrase: if you use a hardware wallet it is very useful to set it because it is an additional protection to your seed (even if your device is stolen). Basically it is the 25th word that unlocks the wallet (so all 25 are needed). This security upgrade is very important.
You can learn more here: How To Set Up A Passphrase

 

4) The seed and private keys should never be written online or entered on the computer in text files or documents. You could write the seed with a pen but imagine if water fell on it or a few words were erased... The safest thing is to imprint them on a metal support such as Cryptotag or Cryptosteel

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5) Shamir39: allows you to split a seed phrase into multiple seed phrases. Simply put you need to have multiple seed phrases to recompose the original. For example "n of m". That is 3 out of 5 (in this case 5 seed phrases are generated and you need at least 3, it manages to restore the original). You could provide 1 seed to your girlfriend, 1 to your parents, in short, to trusted people. Through 3 seed, recompose your original seed. You can use this tool: Shamir39 (some hardware wallets have this feature available to use it)

 

These are the main security tips you should pay attention to for privacy and anonymity. For total anonymity you might consider IP masking and traffic encryption using a VPN. I want to emphasize that these tips are to protect your privacy. They are not techniques for evasion, for carrying out criminal acts and the like. Privacy is a right.

 

Are you interested in ways to earn crypto bonus? Check it out here: Some Sites To Earn Crypto Bonus (Old & New)

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