the most important tool
The Metamask wallet application is a tool like an Ipad, or the Chrome Browser. Of all the cryptocurrency tools the most important tool is…"A pen and paper." Your Metamask seed phrase is very important. It direclty corresponds cryptographically to your private key. You should encrypt it and write it down three times and store it in 3 different locations. For one of the locations, of the sealed envelopes, I suggest you select a person in another city, state or country, a person you trust implicitly, preferalby your executor and have them conceal it for you with instructions to only open it if you are dead.
A high powered computer and a smart person can crack some encryptions. This is why you send an encrypted copy of your private key in a sealed envelope to someone you really trust and will know your whole life and store the other copies in a secure locations. That twelve to twenty-four word recovery phrase should not be recorded or sent electronically. First of all, email is insecure. That's why Hilary had her own email server in her house! Secondly everyone has a camera, called a smart phone. I can take a picture of that 12 word recovery phrase and get into your account and change your password. Secondly, even if your recovery words are encrypted a really smart person and a powerful computer can crack some encryptions. So 3 copies, 1 at home, 1 in secure location and another with a trusted friend in a sealed envelope with instructions not to open it unless you're dead and the executor of your will is present to take immediate custody of your property.
Understand I can use that recovery phrase to open any non-custodial wallet(a wallet wherein you know and hold your private keys) of it's native blockchain irregardless of the wallet application. Remember, when "you are the bank" you must take responsiblity for security. Bearing in mind, again, that an Ethereum seed phrase can open any Ethereum wallet, not just Metamask. All those wallets are apps riding on top of the giant distrubuted computer we call the Ethereum blockchain.
The Ethereum blockchain has a native code called Solidity and if you would like to learn this and see how you can interface directly with and inside the Ethereum blockchain, all the information and tutorials can be found here:https://www.youtube.com/c/DappUniversity and your teacher this Youtuber is a self-taught coder and has hundreds if not thousands of hours of instruction on how to directly interface with the Ethereum Blockchain and build real-world, portfolio grade DeFi apps.He's a gifted communicator and is very personable (unlike most really smart people who may tend to lack high-grade social skills)
Do you understand what I'm saying. Secure that shit bruh, take it from someone who lost credentials to an account and lost 2 Bitcoins…..ok over 100 grand!!!!(at the time of this writing
A wise man need not learn by trial and error; he can learn from the mistakes of others!!!!! Learn this.
Here is a link to an easy way to encrypt your recovery phrase:
https://steemit.com/security/@kondor1030/how-to-encrypt-your-bitcoin-12-word-backup-using-cypher-completely-offline-guide
You need not burn your hand to learn that fire is hot…….I've already burnt mine to the tune of 100 grand for you!!
Disclaimer: Professionally I am a pianist/musician/entertainer, I have no expertise or qualification in finance, banking or investing, so everything I write in this blog and anywhere else online and say in my public speaking engagements is solely for entertainment and education. Please do your own research and invest your money in what you fully understand, knowing that crypto markets and crypto currency is a very volatile market and you could lose everything. So my advice is to never invest more than you can afford to lose.
Comments
Post a Comment