Backing up your wallet seed - Revision history

Plebeian9000 at 21:44, 17 June 2020

2020-06-17T21:44:05Z

Plebeian9000 at 20:28, 2 June 2020

2020-06-02T20:28:24Z

Plebeian9000: add link to page about encrypting wallet

2020-05-30T22:32:22Z

add link to page about encrypting wallet

Plebeian9000: transclude wallet date explainer

2020-05-30T21:08:03Z

transclude wallet date explainer

Plebeian9000: Plebeian9000 moved page Backing up your wallet to Backing up your wallet seed over redirect: article only covers seed phrase backup

2020-05-30T16:33:31Z

Plebeian9000 moved page Backing up your wallet to Backing up your wallet seed over redirect: article only covers seed phrase backup

Plebeian9000: update screenshot, remove duplicate derivation path text, basic editing

2020-05-16T19:27:31Z

update screenshot, remove duplicate derivation path text, basic editing

Kemccall: /* Recording your seed words and date */

2020-03-30T00:01:31Z

Recording your seed words and date

Kemccall at 22:41, 27 March 2020

2020-03-27T22:41:51Z

Kemccall: Kemccall moved page Backing up your wallet seed to Backing up your wallet: Shortened to simply "Baking up you wallet" so as to not seem so limiting.

2020-03-26T06:17:44Z

Kemccall moved page Backing up your wallet seed to Backing up your wallet: Shortened to simply "Baking up you wallet" so as to not seem so limiting.

Kemccall: Kemccall moved page Back up your wallet seed to Backing up your wallet seed: Procedures whould use gerund in the title (e.g. "...ing")

2020-03-25T22:39:29Z

Kemccall moved page Back up your wallet seed to Backing up your wallet seed: Procedures whould use gerund in the title (e.g. "...ing")

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 [[File:Find-wallet-seed-words.png|thumb|left|600px|Location of wallet seed words and date.]]
+<div style="clear: both;"></div>
 == What seed words do and don't do ==

← Older revision		Revision as of 20:28, 2 June 2020
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−	It is critical that you '''back up your wallet'''. The Bisq wallet is totally controlled by you, and you only—wallets are created and stored by the Bisq software right on your machine.	+	It is critical that you '''back up your wallet seed'''. The Bisq wallet is totally controlled by you, and you only—wallets are created and stored by the Bisq software right on your machine.

	For this reason, you should keep your Bisq wallet's seed words safe and [[Encrypting_your_wallet\|encrypt your Bisq wallet]] as well. There are no other copies of this data, so you're on your own if you lose them.		For this reason, you should keep your Bisq wallet's seed words safe and [[Encrypting_your_wallet\|encrypt your Bisq wallet]] as well. There are no other copies of this data, so you're on your own if you lose them.

@@ Line 1: / Line 1: @@
 It is critical that you '''back up your wallet'''. The Bisq wallet is totally controlled by you, and you only—wallets are created and stored by the Bisq software right on your machine.
-For this reason, you should keep your Bisq wallet's seed words and date safe, and set a password to your Bisq wallet as well. There are no other copies of this data, so you're on your own if you lose them.
+For this reason, you should keep your Bisq wallet's seed words safe and [[Encrypting_your_wallet|encrypt your Bisq wallet]] as well. There are no other copies of this data, so you're on your own if you lose them.
 __TOC__

@@ Line 9: / Line 9: @@
 With your wallet seed words and date, you can recover your Bisq wallet and funds if the wallet is ever lost, destroyed, or corrupted.
-The date is not strictly required, but it makes the recovery process ''drastically'' quicker. Without a date, bitcoinj (the library Bisq uses to interact with the Bitcoin network) will resort to traversing the entire Bitcoin blockchain from 2013 (sometime around block 260,000) in order to rebuild your wallet state, and it will take ''a very long time''. Specifying the date your wallet was created cuts recovery time significantly by telling bitcoinj where to start traversing the blockchain.
+{{Wallet_date_explainer}}
 You can find your wallet's seed words in <code>Account</code> > <code>Wallet seed</code>. If you've encrypted your wallet, you'll need to enter the password before you can see your seed words.

@@ Line 1: / Line 1: @@
-Bisq is a non-custodial exchange. This means you control your funds with your private keys stored in your wallet. It is imperative that you backup your Bisq wallet password, seed words and date. You are solely responsible. '''There are no other copies!'''
+It is critical that you '''back up your wallet'''. The Bisq wallet is totally controlled by you, and you only—wallets are created and stored by the Bisq software right on your machine.
-With your wallet seed words and date, you can recover your Bisq wallet and its contents if it is lost or destroyed. Alternatively, if you do '''not''' have your wallet seed words and date, you cannot restore your wallet, and '''all your funds are lost forever'''.
+For this reason, you should keep your Bisq wallet's seed words and date safe, and set a password to your Bisq wallet as well. There are no other copies of this data, so you're on your own if you lose them.
-Bisq has a built-in Bitcoin (BTC) wallet based upon the Bitcoin Improvement Proposal (BIP 44). BTC wallets have a m/44'/0'/0' derivation path and Bisq (BSQ) wallets have a m/44'/142'/0' derivation path. Your same seed phrase is used for BTC and BSQ wallets.
+__TOC__
-'''Important:''' Write your seed words and wallet date using pen and paper to eliminate digital attacks. Saving them on your computer, even in a secure password manager, makes it possible for a hacker to obtain them.
+== Write down your seed words ==
-==== Recording your seed words and date ====
+With your wallet seed words and date, you can recover your Bisq wallet and funds if the wallet is ever lost, destroyed, or corrupted.
-To record your wallet seed words and date perform the following steps:
+The date is not strictly required, but it makes the recovery process ''drastically'' quicker. Without a date, bitcoinj (the library Bisq uses to interact with the Bitcoin network) will resort to traversing the entire Bitcoin blockchain from 2013 (sometime around block 260,000) in order to rebuild your wallet state, and it will take ''a very long time''. Specifying the date your wallet was created cuts recovery time significantly by telling bitcoinj where to start traversing the blockchain.
-# Go to the '''Wallet seed''' section of the '''Account''' screen
+You can find your wallet's seed words in <code>Account</code> > <code>Wallet seed</code>. If you've encrypted your wallet, you'll need to enter the password before you can see your seed words.
- <!-- Wallet date is required by bitcoinj, which is the library Bisq uses to interact with the Bitcoin network.-->
+'''Please ''actually'' write down your seed words and date with a pen and paper.''' Saving them on your computer, even if you do so in a secure password manager, makes it possible for a hacker to obtain them through sneaky schemes like keylogging. Going low-tech with pen and paper eliminates all such digital attack vectors.
 <br clear=all>
 [[Category:Use Cases]]

← Older revision	Revision as of 16:33, 30 May 2020
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← Older revision	Revision as of 06:17, 26 March 2020
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← Older revision	Revision as of 22:39, 25 March 2020
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