Bit Vault makes it safe and easy to store the mnemonic phrases you have as backups of your crypto currency wallets. Bit Vault solves your backup issue if you are using a hardware wallet, like a Trezor, Ledger, Keepkey, or a software wallet like Jaxx, Bread, or Exodus to store your Bitcoin, Litecoin, Ethereum, Ripple, Dash, and other currencies.
The problem with that list of 12, 15, 18, 21 or 24 words that you have to backup your crypto currency wallet is that you need to keep it safe. If it gets stolen, you could be out a lot of money. If it gets lost or destroyed, same problem. Some people have suggested splitting the mnemonic list into two parts, and storing them in separate locations to increase security. The only problem with that solution is you just doubled your chances of loss or destruction.
Bit Vault helps solve these problem by using a magical property known as data parity. We generate three backup mnemonics from your single mnemonic backup. Any single list is worthless on its own, but with any 2 of 3, you can recover your backup phrase.
With these 3 word lists, you can store each at a separate location, increasing both your security, and the ability to recover your mnemonic seed if the need ever arises. We’d suggest locations like your home safe, your office, a safe deposit box, a trusted friend or family member.
The best part is, if you choose to use the “Plausible Deniability Method,” which is on by default in Bit Vault, each of the three backup keys generated by Bit Vault will appear to be a valid mnemonic, so anyone who gets their hands on any of your three lists, whether by theft or force, will likely think you just have an empty wallet.
Your backup mnemonic is the key to your crypto currency wealth. Safe guard it today with Bit Vault.
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