Bitcoin is about empowerment – taking full control of your money. But with control comes responsibility. What happens if you lose access to your Bitcoin wallet? Could you confidently recover your funds? Backing up a single sig. hardware wallet into metal is a fantastic first step, but there’s a another option that improves privacy, security and adds redundancy to your single sig. wallet backup – SLIP39.
What Exactly is SLIP39?
At its core, SLIP39 (Shamir’s Secret-Sharing) is an excellent solution for Bitcoin wallet backups. Developed to enhance the safety and accessibility of wallet backups, it splits your wallet’s secret (known as your “seed”) into multiple distinct pieces called “shares.”
Instead of storing a single seed phrase which is often vulnerable to damage, theft, or loss, SLIP39 allows you to divide this critical information among several secure locations. To restore your wallet, you just need a specific number of these shares; a threshold you set yourself.
Think of it like handing keys to trusted friends. Individually, the keys are useless, but together, they unlock your safe. It’s elegant, simple, and robustly secure.
Why Choose SLIP39 Over Traditional Backups?
A backup of a single signature Bitcoin wallet (using BIP39) involves making a backup of a single seed phrase. This has some trade offs even when backed up into metal. There are issues around privacy, redundancy and security of the backup.
SLIP39 transforms your backup by splitting the responsibility. You decide how many shares are needed to restore your wallet, ensuring your Bitcoin is recoverable even if several shares are compromised or lost. One backup is not enough to restore your wallet.
SLIP39 Best Practices: How to Get it Right
Like any security measure, there are a few crucial things to remember when using SLIP39:
- Backup Smartly: Each SLIP39 word has a unique first four letters. This means you can record only these first four characters for each word into a permanent metal backup.
- Always Test Your Backup: Trust, but verify. Test your backup using these simple steps:
- Create a new wallet and generate your SLIP39 shares using your hardware wallet of choice.
- Send a small test amount of bitcoin, maybe 1000 sats, to the wallet.
- Completely wipe your wallet.
- Restore your wallet using the shares.
- Verify your test amount is exactly where it should be.
It’s better to discover issues now than when it really matters.
- Familiarise yourself with how SLIP39 works. Use Ian Coleman’s SLIP39 tool (https://iancoleman.io/slip39/). Remember, this tool is strictly for testing – do not use it with your real seed phrase.
SX6 Metal Backup Plates: Solid Security for SLIP39
Now, even SLIP39 shares aren’t invincible if stored carelessly. Enter SX6 metal backup plates designed specifically to protect your shares from physical harm. Forget paper; metal is fireproof, waterproof, corrosion-resistant, and tough enough to withstand the unexpected. Buy a triple pack with our special offer.
How to Use SX6 Plates with SLIP39
Securing your Bitcoin with SX6 plates is straightforward. Here’s your quick guide:
- Generate your SLIP39 shares using your wallet software.
- Stamp words into the backup plate. Just stamp those first four unique letters. Clear, legible, and permanent.
- Distribute the plates securely. Different places, different security measures. No single point of failure.
And just like that, your Bitcoin has never been safer.
Ready to Secure Your Bitcoin?
There’s no point in holding Bitcoin if you can’t keep it safe. Don’t gamble with your financial future. Choose SLIP39 and protect your investment with SX6 metal backup plates.
Buy SLIP39 Compatible Backup Plates
Because peace of mind is priceless.
