Jan 01, · Hashwallet generates a unique recovery key and recovery seed during setup of the smartcard device. When combined, these components can be used to regain access to the funds stored on the wallet, and must be stored separately for security reasons. Seed Savior: Mnemonic Phrase Recovery Tool This tool is meant to help users with recovring a slightly incorrect Bitcoin and Ethereum mnemonic phrase (AKA backup or seed). You can enter an existing BIP39 mnemonic and get derived adresses in various formats. If a word is wrong, the tool will try to suggest the closest option. Jul 17, · btcrecover is an open source Bitcoin wallet password and seed recovery tool. It is designed for the case where you already know most of your password or seed, but need assistance in trying different possible combinations.
Btc recovery seedSeed phrase - Bitcoin Wiki
BIP39 has some flaws, known in the technical community but not known much wider. They are described here on this electrum doc page. Most seriously, BIP39 flaws mean it is not true to say that backing up a BIP39 seed phrase and name of wallet software is the only thing a user needs to do to keep their money safe.
BIP39 works this way because its designers wanted their hardware wallet to also support altcoins. A simplified explanation of how seed phrases work is that the wallet software has a list of words taken from a dictionary, with each word assigned to a number. The seed phrase can be converted to a number which is used as the seed integer to a deterministic wallet that generates all the key pairs used in the wallet.
However, some of the data in a BIP39 phrase is not random,  so the actual security of a word BIP39 seed phrase is only bits. This is approximately the same strength as all Bitcoin private keys, so most experts consider it to be sufficiently secure.
It is not safe to invent your own seed phrase because humans are bad at generating randomness. The best way is to allow the wallet software to generate a phrase which you write down.
As seed phrases use natural language words, they have excellent error correction. Words written in bad handwriting can often still be read. If one or two letters are missing or unreadable the word can often still be deduced. The word list that the seed phrase words are drawn from is carefully chosen so that the first four letters of each word are enough to uniquely identify it.
This compares well with writing down a raw private key where a single letter being unreadable or incorrect can make the private key useless depending on the serialization format. Seed phrases, like all backups, can store any amount of bitcoins.
It's a concerning idea to possibly have enough money to purchase the entire building just sitting on a sheet of paper without any protection. For this reason many wallets make it possible to encrypt a seed phrase with a password. The password can be used to create a two-factor seed phrase where both "something you have" plus "something you know" is required to unlock the bitcoins. This works by the wallet creating a seed phrase and asking the user for a password.
Then both the seed phrase and extra word are required to recover the wallet. The BIP39 standard defines a way of passphrase-protecting a seed phrase.
A similar scheme is also used in the Electrum standard. If a passphrase is not present, an empty string "" is used instead. Warning : Forgetting this password will result in the bitcoin wallet and any contained money being lost. Do not overestimate your ability to remember passphrases especially when you may not use it very often.
Warning : The seed phrase password should not be confused with the password used to encrypt the wallet file on disk. This is probably why many wallets call it an extension word instead of a password. Most people write down phrases on paper but they can be stored in many other ways such as memorizing , engraving or stamping on metal, writing in the margins of a book, chiseling into a stone tablet or any other creative and inventive way.
In the past many people have accidentally lost bitcoins because of failed backups, mistyped letters, forgotten hard drives, or corrupted SSD devices. It's also important to protect the seed from accidental loss. It could be a good idea to write some words of explanation on the same paper as the seed phrase. If storing for the long term you may forget what a phrase is how it should be treated. A sample explanation that can be adapted is:. Through bitter experience it has been found that one of the most practical storage mediums is pencil and paper.
The private keys of a bitcoin wallet are encoded into random words from a dictionary which can be written down. If your hard drive crashes, you can find the paper with the seed phrase and restore the entire wallet. As seed phrases use natural language words, they have good error correction. If one or two letters are missing the word can often still be deduced. For storing on paper writing with pencil is much better than pen  .
The raw form can then be used as input for other operations such as using tools to claim forked coins. Do be warned that entering your seed phrase into a tool is a compromise of the security of the original device.
If you have the device to protect your security, this is a move in the other direction. It is highly advisable that if you have the means to move your BTC using the 'normal' way with your device or wallet, do that first. Once that is done, this tool can be helpful for a number of things like helping you reconstructing a complex transaction record and getting value from lower-value forked coins that still may be associated with the keys.
This article is to instruct you on the tool, however when it comes to actually using your real seed phrase that holds your money. We suggest making sure you have an adequately secure environment for doing so.
We have a guide for setting up an temporary Ubuntu live boot session that is far less likely to have malware or accidentally leak your keys. We also have a guide for downloading and running this tool offline in that Ubuntu environment.
If you got a 12, 13, 24, or 25 word recovery seed phrase when setting up your wallet, it is most likely a standard BIP39 mnemonic which is a standard, well-defined way of keeping a private key. The reason it makes sense for the wallet developers to use this scheme is that it is an open, well-scrutinized scheme that is reviewed for security.
But also, so it allows you to access your money in the absence of their wallet due to unforeseen circumstances, which is a selling feature. Your seed phrase directly maps to a bit or bit randomly-generated number that should be known to only you. The private keys that control balances for BTC or other coins are derived from this value. To get a feel for the tool, you can use directly through the web by going to the site. However, we don't recommend typing your seed phrase into a web site on your everyday-use PC.
It is alright to use seed phrases that don't have money associated, though. For word seed phrases, the BIP39 Passphrase field is also left blank.