The cornerstone of blockchain asset security lies in the safeguarding and usage of private keys and mnemonic phrases. Mnemonic phrases are a common method for creating or importing wallets. Imagine if there was a way to add another layer of security to your mnemonic phrase, making your assets even safer. Today, let's dive into ELLIPAL's Passphrase feature.
What is a Passphrase?
Definition: A passphrase is a security enhancement for cryptocurrency wallets. Unlike traditional passwords, a passphrase typically consists of a sequence of words, numbers, and symbols. It serves as an additional layer of security, working alongside your mnemonic phrase to generate private keys. By adding a passphrase on the ELLIPAL Titan 2.0, you can create a more complex and harder-to-crack key, thereby enhancing the security of your crypto assets.
How it Works: A passphrase adds an extra layer of protection on top of your mnemonic phrase. When used together, they form a new mnemonic combination, generating a new private key and address. This means that even if someone gets hold of your mnemonic phrase, they won't be able to access your crypto assets without the passphrase.
Example:
Let's say your mnemonic phrase is the following 24 words:
Mushroom member jewel dignity flavor silver involve limit shop salute icon web Mushroom member jewel dignity flavor silver involve limit shop salute icon web
You can add a custom passphrase using numbers, letters (case-sensitive), or a combination of both.
For example: Bitcoin123
Combining this passphrase with your mnemonic phrase will generate a private key and address completely different from the one created using the mnemonic phrase alone. This significantly boosts the security and privacy of your wallet.
Using a passphrase allows users to create multiple independent accounts, each protected by a different passphrase. So, even if your mnemonic phrase is compromised, your accounts remain secure.
Important Considerations
- Ensure Complexity:Make sure your passphrase is complex enough. Use random words (case-sensitive) and numbers to create it.
- Secure Storage:Like your mnemonic phrase, your passphrase should be stored securely. We recommend using encrypted storage devices or paper backups and ensuring that only you know the storage location.
- Change if Compromised:If you suspect your passphrase is compromised or no longer secure, change it immediately and transfer your assets to a new account.
Note: If you forget your passphrase, you won't be able to recover the original address. Both the mnemonic phrase and passphrase are required to restore the original address.
How to Use Passphrase on ELLIPAL Cold Wallet
Creating an Account:
Make sure to back up both your mnemonic phrase and passphrase correctly. Once the account is created, they cannot be exported.
Importing an Account:
Tip: If you enable the passphrase, you must enter both the mnemonic phrase and passphrase to recover the wallet. Do not lose or forget either. Entering an incorrect passphrase will generate a new address, so if you encounter this issue, check if your mnemonic phrase and passphrase match or if the passphrase is entered correctly.