Seed

A mnenemonic seed is commonly used to sync two different devices. It’s also used to restore a lost or deleted software (eg. wallet). Some wallets grant access simply by using a long seed as a password and integrate the private key into the software. With this kind of software it’s best to choose the …

2 FA (2 Factor Authentication)

2FA gives the user another layer of security, which should most certainly be used. With 2FA eg. transactions are only possible if a second authentication is provided. Commonly used are PIN sent via sms (which are vulnerable to social engineering) and apps like Google Authenticator, Authy or Lastpass for PIN creation. Here, the platform …

Private Key

The private key can be seen as your password which gives access to your account. If the private key is used as the only access control, everyone who possess public and private key is able to execute transactions, therefore can withdraw from the account. Consequently, the private key should never be revealed to anyone. Nevertheless, as no one – …