If you’re new to the world of Bitcoin and cryptocurrency, you’re probably hearing complicated jargon, like BIP39, thrown around like it’s everyday knowledge.
If you’ve been told what Seed Phrases are, but you’re still not sure why they’re so secure, this article is for you.
BIP39, or Bitcoin Improvement Proposal 39, is the unsung hero of your cryptocurrency security. But what exactly is BIP39, and why does it make your Seed Phrase virtually impenetrable?
What is BIP39?
BIP39 is a crucial protocol that plays a pivotal role in the security of your crypto assets. Shorthand for Bitcoin Improvement Proposal 39, BIP39 is a standard that outlines how cryptocurrency wallets generate mnemonic Seed Phrases.
The BIP39 standard is responsible for randomly generating your 12 or 24-word Seed Phrase. Think of your Seed Phrase like a master key, a lifeline that can restore your access to your digital assets even if you lose your device or forget your wallet password.
It standardizes the process, ensuring that wallets across different platforms handle this crucial task in a consistent and secure manner. Without BIP39, each wallet could potentially have its own unique way of generating Seed Phrases, leading to compatibility issues and potential security risks.
The BIP39 Word List
The BIP39 Word List is a carefully curated collection of 2048 distinct words. When your wallet generates a Seed Phrase, it selects words from this list, creating a unique combination that serves as your master key.
Each word on the list is unique in its first four letters, ensuring that no two words can be easily confused. This clever design reduces the potential for typographical errors and makes each word easily identifiable.
Moreover, the list avoids similar-sounding words, further minimizing the chance of confusion. This meticulous attention to detail makes the BIP39 word list a masterpiece of linguistic engineering.
The result? A Seed Phrase that's not only secure but also user-friendly. Instead of a complex string of characters, you have a sequence of simple, everyday words. It's like a secret password, but instead of a jumble of letters and numbers, it's a string of words you can easily remember and record.
Can Someone Guess My Seed Phrase?
I know what you’re thinking, 2,048 words don’t seem like many. Surely a powerful supercomputer capable of guessing dozens of different combinations in seconds would be able to crack the code eventually?
The truth is, the sheer number of seed phrases possibilities is simply astronomical. With 2048 words in the BIP39 word list and a Seed Phrase ranging from 12 to 24 words, the number of potential combinations is overwhelming.
Even if you plug the equation (2,048^24) into a calculator, you won’t even get a recognizable number. To put that into perspective, that's more than the number of known stars in the universe or the estimated number of grains of sand on Earth.
This immense number of possibilities makes it virtually impossible for someone to guess your Seed Phrase. It's like trying to win the lottery and get struck by lightning twice in the same day.
But don’t get too comfortable just yet. These odds assume that hackers don’t know the specific words of your seed phrase. If your seed phrase is compromised, the threat of being hacked is very real indeed.
Anyone want to try and brute force this 12-word seed phrase securing 100,000 sats? I’ll give you all 12 words but in no particular order. Standard derivation path m/84'/0'/0'…no fancy tricks. GL.https://t.co/c9FyMv3HYM pic.twitter.com/nPGTB9bX2g
— Wicked (@w_s_bitcoin) April 26, 2023
To test this theory, a Bitcoin advocate posted the jumbled, out-of-order 12-word seed phrase to a wallet holding 100,000 sats (around $30 USD) on his Twitter profile.
Within just 30 minutes, a ‘hacker’ was able to execute a Brute Force Attack and crack the code. This proves that even though a Seed Phrase is an excellent method of securing your cryptocurrencies, you still need to keep it safe.
How Can I Keep My Seed Phrase Safe?
CVER Steel is the best solution for safeguarding your Seed Phrase. Durable and secure, our robust stainless steel plates are designed to keep your seed phrase away from threats and protect it from the elements.
Why Choose CVER Steel?
- Unmatched Durability - CVER Steel products are built to last. They are resistant to fire and corrosion, offering durability that paper wallets simply can't match. Our plates are designed to withstand the test of time and the elements, ensuring that your Seed Phrase is safe and intact.
- Superior Security - CVER Steel keeps your Seed Phrase offline and out of reach from digital threats. Our steel plates are not only secure but also discreet, offering an added layer of physical security.
- User-Friendly - CVER Steel makes securing your Seed Phrase a breeze. All you need to do is mark the provided steel plates with your BIP39 words. There's no need for any special tools or technical know-how. It's a simple, straightforward process that anyone can manage.
With CVER Steel, you gain peace of mind knowing that your digital treasure is well-guarded.
When it comes to safeguarding your digital wealth, CVER Steel offers a solution that's second to none.