What's a Seed Phrase?

A Complete Guide to Understanding and Using Your Cryptocurrency Backup

Situation

You have chosen the safe route in cryptocurrency and NFT investing by putting your investments in a self custodial cryptocurrency wallet. Now, you hold your own seed phrase and hackers can't easily access your funds online anymore - but here's the catch, now you are solely responsible for the protection and safe keeping of said seed phrase ( Which is typically written down on a flimsy piece of paper ) After all, your seed phrase is your recovery phrase. It's safe to say that the access to, and protection of your cryptocurrency wallet is dependent on that piece of paper. So what should you do? What should you not do? We're here to tell you how can you keep your crypto wallet safe, by keeping your seed phrase safe.

THE DO's

• If possible, use a separate device that will be solely from web 3 investing and nothing else like a separate laptop and phone that will never be exposed to malicious sites or applications.

• Write down your seed phrase! yes, you have to go the old fashioned way to keep your seed phrase safe. Refrain from creating a digital copy

• Laminate your seed phrase to avoid smudging, or any form of damage during usage and storage. You don't want to come to a point where you need your seed phrase but ultimately it becomes unreadable..

• Make copies of your seed phrase and store them in safe locations - i.e. locations safe from robberies, fire, flooding, etc.

THE DON'Ts

• Do not carry your seed phrase around with you all the time

• Do not EVER make a digital copy of your seed phrase

• Do not take photos of your seed phrase

• Do not put your seed phrase in your PC's notepad

• Do not create an MS Word for your seed phrase

• Do not send your seed phrase via email of text

• Do not print or fax your seed phrase

• Do not store your seed phrase inside a password manager
  
  

This might seem over the top but hear us out, any digital version of your seed phrase may and will be exposed to hackers! Why? Well some reasons:

1. There's definitely a big chance that your devices have been hacked even before you started your web3 investment journey. Specially if you use a free version of anti-virus solutions on your devices. ( Don't feel guilty a ton of people only use the free version too )

2. Your information is where the centralized web2 companies make a lot of money from. A lot of applications require access to your photos, media, messages and contacts to be able to function - so why take a photo of your seed phrase? Why send it via text? you'll indirectly expose the keys of your cryptocurrency wallet to the internet.

3. And why not carry your seed phrase around with you all the time? It's safe and easier to access if it's around you all the time, no one can get it... yeah, but you can also just lose it just as easily right?
   
   

Choosing to self custody and take control over your crypto wallet's seed phrase /private keys will come with its fair share of responsibilities - but if you religiously follow these do's and don'ts, you'll be able to sit back, and enjoy that worry-free investing experience!