![]() First of all, it simplifies considerably the process of creating and recovering wallets. The benefits of BIP39īIP39 has many benefits for cryptocurrency users. You can consult the official document of BIP39 here (link to ). It was implemented on Bitcoin in 2014 and has been adopted by many other cryptocurrency projects since then. It was proposed in 2013 by Marek Palatinus, Pavol Rusnak, Aaron Voisine and Sean Bowe. The use of this method greatly simplifies the management and backup of wallets, avoiding the need to memorize complex private keys.īIP39 is part of the many BIPs (Bitcoin Improvement Proposals) that aim to improve the Bitcoin protocol. These mnemonic phrases serve to derive the private keys that allow you to access your funds. It relies on the use of mnemonic phrases, which are sequences of words easy to remember generated from a predefined list of words. What is BIP39 and how does it work?īIP39, also known as Bitcoin Improvement Proposal 39, proposes a novel method to simplify the creation and recovery of cryptocurrency wallets. In this article, we will explain what BIP39 is, how it works, what are its advantages and disadvantages, and which wallets support it. ![]() Fortunately, there is an innovative solution to avoid this problem: BIP39 and mnemonic phrases. According to a study, more than 20% of cryptocurrency users have lost access to their funds because of a forgotten or stolen private key. How BIP39 helps you create and restore your Bitcoin walletsĭo you struggle to manage your cryptocurrency wallets? Are you looking for a simple and secure solution to create and restore your wallets? You are not alone.
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