Can bip39 words be used to recover lost or stolen cryptocurrency assets?

3 answers

• Nov 26, 2021 · 3 years ago
  Yes, bip39 words can be used to recover lost or stolen cryptocurrency assets. Bip39 is a standard for creating a mnemonic phrase, which is a set of words that can be used to derive the private keys of a cryptocurrency wallet. If you have previously backed up your wallet using bip39 words, you can use them to restore access to your funds even if your wallet has been lost or stolen. It's important to keep your bip39 words secure and not share them with anyone to prevent unauthorized access to your assets.
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• Nov 26, 2021 · 3 years ago
  Absolutely! Bip39 words are a great way to recover lost or stolen cryptocurrency assets. When you create a wallet using bip39, you are given a set of words that act as a backup for your private keys. If you lose your wallet or it gets stolen, you can simply input these words into a compatible wallet software and regain access to your funds. It's like having a secret passphrase that unlocks your wallet. Just make sure to keep your bip39 words safe and secure, as anyone who has access to them can potentially steal your assets.
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• Nov 26, 2021 · 3 years ago
  Yes, bip39 words can be used to recover lost or stolen cryptocurrency assets. If you have backed up your wallet using bip39, you can easily restore your funds by entering the mnemonic phrase into a compatible wallet software. However, it's important to note that not all wallets support bip39 recovery. Some wallets may have their own recovery methods, so it's always a good idea to check the wallet's documentation or contact their support team for specific instructions on how to recover your assets using bip39 words.
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