Types of Backup

Single Seed Backup: This is the simplest form of backup where you write down a list of recovery words (12 or 24) on a piece of paper or a more durable material. This is the most simple and generally recommended method of backup.

Shamir Seed Backup: You can split your recovery words into different parts called ‘shares’. You decide how many shares there should be and how many you need to put together to unlock your wallet. This is called the ‘threshold’.

For example, you might split the Seed words into 5 shares and decide that you need any 3 to recover your wallet. You can keep these shares in different places or with different people you trust. If something happens to one or two shares, you can still use the others to get your digital assets back. This method is only recommended when a higher portion of your wealth is in crypto. The reason is that it is a bit more complex than Single Seed Backup, while it involves third-party trust which requires special precaution and measures to limit the risk that arise.

There is also a strategy, that We recommend, and provides a middle-ground between Single & Shamir Seed backup methods. Simply use a Passphrase, in addition to your 12-24 words, easy for you to remember. Backup the 12-24 words Seed Phrase, in different places than your Passphrase. Option: If you find it necessary, you can involve other people to backup your Passphrase, taking into consideration the third-party risk involved.

It is important to remember, a specific Seed Phrase and the same Seed Phrase + Passphrase, are totally different, and will generate different Private & Public Keys.