17-08-2021

Phrase Generator Bitcoin Private Key

12-word backup phrase – also know as 12-words, “backup”, recovery phrase, mnemonic seed, “seed” – is a unique, randomly generated set of words, that are given to you when you create a wallet. The recovery phrase is used to derive, or generate, all the private keys, which are encrypted directly on your device. You have a private key for each of your assets (Bitcoin, Litecoin, Ethereum, etc), but a 12-word phrase has control of all of your private keys. This phrase gives you permanent access to your funds and, therefore, is the most important thing to take care of.

12-word seed phrase can help you to recover your funds if you ever lose access to the wallet on the device the wallet is installed on. Anyone who discovers the phrase would be able to steal your funds. You should take the safety of your recovery phrase very seriously.

  • How to store your 12-words backup phrase?

A private key is a secret, alphanumeric password/number used to spend/send your bitcoins to another Bitcoin address. It is a 256-bit long number which is picked randomly as soon as you make a wallet. The degree of randomness and uniqueness is well defined by cryptographic functions for security purposes. This is how the Bitcoin private key looks. BIPs are numbered, and each BIP represents a proposed change to the bitcoin protocol. When it comes to creating and backing up your wallet, Blockchain uses the current industry standard. Our wallet implements BIP44 to generate accounts and addresses, and BIP39 to generate the Secret Private Key Recovery Phrase (or seed, as it is also called). So, What Is A BIP 39 tool or Bitcoin Mnemonic Generator? A tool that is used to generate BIP39 mnemonic phrases randomly is called a Bitcoin mnemonic generator or BIP 39 tool. But many a time, this tool is also used to covert BIP39 mnemonic phrases to public addresses and private keys. BIP39 describes the implementation of a mnemonic sentence. Random Bitcoin private key generator. Generate a random private keys in WIF, hex or decimal formats. Total balance on the page: Private Key (HEX) Bitcoin Address.

Nothing is more important than keeping your 12-word recovery phrase safe! Everything which is stored digitally is always under the threat of hacking. We strongly believe the best way to store your backup phrase is the offline world.

Write it down or print it on a piece of paper and store it in two different places. Double-check that you copied the words of the phrase correctly. The words must be written in the correct order without any spelling errors and capital letters. You can also store three pieces of paper containing the words in a particular sequence.

You can also store the phrase offline in a personal safe, a safety deposit box or engrave on a metal plate. Wherever you can think of, as long as it is protected from loss, theft, damage, etc.

Dont’s: Do not store it on your computer/laptop, phone/tablet in any format. Do not take a picture of it with your phone. Do not send it in an email or share it in any other way out there on the internet. Don’t use the public printer to print the phrase.

  • How is the recovery phrase generated?

Your 12-word phrase is a set of words randomly taken from a dictionary, with each word assigned to a number. The seed phrase can be converted to a number that is used as the seed integer to a deterministic wallet that generates all the public and private keys. The words are taken from a wordlist of the BIP39 standard (2048 words). So if the phrase contained only 12 random words, the number of possible combinations would be 2048^12 = 2^132 and the phrase would have 132 bits of security. However, some of the data in a BIP39 phrase is not random, so the actual security of a 12-word BIP39 seed phrase is only 128 bits. This is approximately the same strength as all Bitcoin private keys, so most experts consider it to be sufficiently secure.
The generation of the seed is made by a series of processes described in BIP39 standard. The pairs of public and private keys are derived by using a standard derivation algorithm ( BIP 44).
Your recovery phrase is not your private key but is used to derive your public and private keys.

  • Where is the backup phrase stored in Atomic Wallet?

The phrase is encrypted directly on the device the wallet is installed on. We don’t have any access to it and don’t hold it on our servers. You are the only one with access to it and thus, fully controlling your funds.

We don’t have any user’s private information on our servers - that what makes us a “decentralized” wallet and protects from hacking attacks, that we constantly see happening with major trades.

With full control, comes full responsibility. We ask you to take the safety of your 12-word phrase seriously. NEVER share it with anybody (including us). If you forget your password and phrase nobody could retrieve it to you - the access to your funds will be lost.

Phrase Generator Bitcoin Private Key

  • How can I use 12-word backup phrase?

Generally speaking, you need to put your 12-word backup phrase in use if you ever lose access to your funds. It might be the case if a device Atomic Wallet is installed on is lost, crashed, stolen or destroyed by a volcano.
Another way to use the phrase is a need to restore the wallet. For example, if you want to import the phrase to another wallet to have access to your funds. In any way, we strongly suggest to only use the phrase if it is really a necessity. Minimalizing the use of the phrase will ensure its safety. Give up on claiming forked/airdrop tokens by your backup phrase. It is not safe.

  • Security of the wallet.

The security of your wallet (read money) is depended on the security of your 12-word backup phrase. If you keep your phrase safe – you keep your assets safe. NEVER share your 12-word phrase with anyone. Even if it looks “safe”. Atomic Wallet Team never asks for your recovery phrase or your private keys.

Phrase Generator Bitcoin Private Key Free

Need some help? Contact us at support@atomicwallet.io. We provide quick and friendly support 24/7.

I believe, by now you must have read my previous article on Bitcoin seed & Mnemonic phrase, if you haven’t read it, please do so because after that you will be able to appreciate the concept of BIP39 and Bitcoin mnemonic generator thoroughly.

But anyway, let me get started with BIP39:

Phrase Generator Bitcoin Private Key

BIP 39 is another Bitcoin Improvement Protocol like BIP 38, and it is used to generate Bitcoin mnemonics (i.e., 12-word seeds) that are human-readable. These mnemonics are also called BIP39 mnemonics.

So, What Is A BIP 39 tool or Bitcoin Mnemonic Generator?

A tool that is used to generate BIP39 mnemonic phrases randomly is called a Bitcoin mnemonic generator or BIP 39 tool.

But many a time, this tool is also used to covert BIP39 mnemonic phrases to public addresses and private keys.

BIP39 describes the implementation of a mnemonic sentence.

It consists of two parts: generating the mnemonic and converting it into a binary seed. The English-language wordlist for the BIP39 standard has 2048 words, so if the phrase contained only 12 random words, the number of possible combinations would be 2048¹² = 2¹³², and the phrase would have 132 security bits.

However, some of the data in a BIP39 phrase is not random, so the actual security of a 12-word BIP39 mnemonic phrase is only 128 bits. This is approximately the same strength as all Bitcoin private keys, so most experts consider it to be sufficiently secure.

Note: It is not advisable to invent your own mnemonic phrase because humans are bad at generating randomness. That’s why the best way is to allow the wallet software or a Bitcoin mnemonic generator to generate the phrase which you can write down. Also, remember to safely store this phrase because losing this would mean losing all your funds. (Wikipedia)

Related: How To Keep Bitcoin, Litecoin, Ethereum Like Cryptocurrencies Safe & Secure !!

How To Use a BIP39 Tool or Bitcoin Mnemonic Generator?

Using a mnemonic generator is easy, and for this tutorial, we are taking the example of Bitcoin because it is the most popular currency in the market and many people relate with it.

Iancoleman tool is the most reliable bip39 passphrase generator which is used for this purpose, and it is also popular in the market as a BIP39 tool. Here is the step by step procedure to generate Bitcoin mnemonic using it:

#1. Go to iancoleman.io and select the length of your mnemonic. You can also vary the length of your random mnemonic by using the option shown below.

Phrase Generator Bitcoin Private Key Checker

#2. Once you have decided the length, you can select your mnemonic language as ‘English.’ You may choose other languages based on your choice.

Note: Make sure you have selected ‘Bitcoin’ in the Coin section, and your BIP 39 Mnemonic will be ready that you can copy paste on a piece of paper to secure it safely.

Phrase Generator Bitcoin Private Keys

This tool is also known by the other two names such as:

  • bitcoin passphrase generator
  • bitcoin seed generator

That’s because this Bitcoin mnemonic generator can eventually calculate the other two things that I have mentioned above.

You can find the seed and private keys below on the same page of the tool if you scroll down.

And if you have read, my previous article on HD wallets, you will be able to recollect and understand the process of the deterministic-key generation which is ultimately derived from BIP39 mnemonic only.

Phrase Generator Bitcoin Private Key Generator

Conclusion

All the modern Bitcoin wallets have BIP39 tool inbuilt in them which is ultimately responsible for providing you the Bitcoin mnemonics of varying lengths.

Usually, you are not advised to use this online tool, and there is no need also when modern-day wallets are doing all these things for you.

But this BIP39 tool might be required in cases of Bitcoin forks where you are required to get specific private keys related to a particular public address.

In such cases, you can take this tool offline and use it to determine the private keys that you need and later can import it in other wallets to claim Bitcoin forks.

So that’s all from our side in this guide on Bitcoin mnemonic generator and if you liked this article? Then do share it with your friends and family members on Twitter !!

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