In this page you can individually learn about all the elements from the equation that make our products work. If you are having trouble understanding these complex topics of cryptocurrency and are interested in learning, this is for you!
We have segmented the entire explanation in 8 different points with straight forward language.
💰 Your Wallet
Crypto wallets store your private keys, keeping your crypto safe and accessible. They also allow you to send, receive, and spend cryptocurrencies. They come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps like Coinbase Wallet.
Your crypto is not actually inside the wallet, but in the blockchain. The wallet is more of a private key manager that allows you to interact with the blockchain.
BIP stands for Bitcoin Improvement Proposal, and the proposal number 39 was implemented back in 2013 and has since become an industry standard. The BIP39 introduces a static list of 2048 words in alphabetical order. This list of words is in use by the most popular cryptocurrency wallets as its much easier for the final user to store a list of 24 words rather than a super long HEX string of random characters. This list will never be modified.
🌱 Your Seedphrase
This is the unique master private key that represents the custody of your crypto. This seedphrase is given to you by your wallet when you first set it up, and consists on a set of 24, 12 or 8 words from the BIP39 wordlist mentioned above. This is the set of words that you must secure/backup and keep private. The recommended seedphrase is always 24 words as it simply offers more security vs. 12 words. (See pic)
This seedphrase should never be exposed to the Internet, so never type it in a medium you don't trust.
By comparing each word of your seedphrase with the BIP39 wordlist, you can convert them into a unique number between 1 and 2048. You need to do this conversion for each word of your seedphrase and write the numbers in the conversion sheet in the same order as your original seedphrase. (See pic)
*For character-based products like the Plate S, feel free to use alphabetical stamps if you want to stamp the words directly (sold separately).
🔩 Stainless Steel
All of our steel backups are made of AISI 304 Stainless Steel GA. 14 (~2mm). This grade of steel has proven to be an excellent data protector for the value and will prevent any kind of rust/corrosion or withstand high temperatures (1450°C/2642°F). See our stress tests: 1 and 2
By using a material as strong and durable as steel, you ensure extreme longevity and resistance to natural elements. A plate of this material may last multiple hundreds of years if kept under the right conditions.
By using specialized tool made of hardened steel, you can leave permanent marks into the steel with a hammer. Once you have stamped/punched your key, you can consider it a timeproof mark, as it is pretty much impossible to remove. This is why you should be extra careful when setting up your backup because there is no room for error. (See pic)
When you finish your backup, the next logical step is to put in in a safe place only you know. Remember that even if this backup is very tough, you may take care of it as with any other valuable and secret belonging.
= ⚡ Timeless Coins
Now that you have permanently stamped your secret key, derived from a widespread standard into a practically indestructible material, you may rest assured that your coins will never be lost as long as you keep your steel plate with you.
- 🔒 Non-custodial, only you manage your keys
- 🔒 Very secure, digitally unreachable
- 🌐 Open Source, uses public standards
- 🔨 Extremely resistant, AISI 304 Stainless Steel
- 🛡️ Zero moving parts, less risk of data loss
- ✅📝 Double check everything to avoid errors
- ✅🥽 Wear eye and ear protection when stamping
- ⛔📸 Never take a picture of your backup
- ⛔📍 Never disclose where you keep your backup
- ⛔⌨️ Never input your seedphrase directly on the Internet
The main goal is safety and longevity. By stamping/punching your seedphrase into a piece of grade 304 stainless steel, you are minimizing the risk of an accident that may occur with a piece of paper, such as a natural disaster that may turn your key illegible. It also lowers the chance of hacking: the nature of the backup (a physical object) implies it is not reachable via the Internet or any other digital medium.
You immortalize your crypto wallet with a deep cold state solution.
Why? This method of backup works extremely well for two simple reasons: It makes use of a standardized method (BIP39) and utilizes a high quality material that can last for hundreds of years (Stainless Steel).
How? By stamping/punching your seedphrase (which is essentially a very long password that represents your cryptocurrency) into a super long-lasting piece of steel, you are essentially creating a timeless copy of your coins and securing them forever.
No. You never have to share your key with anyone at any point of the process. We provide the backup solution and the tools needed for each customer to complete it in their own privacy. Our products are 100% trustless and non-custodial. (Privacy)
There are 3 main reasons why we chose numbers over letters (stamping/punching tools):
- It gives an extra layer of security by not exposing the words directly.
- Makes the process way quicker by having less characters to stamp/punch.
- It's cheaper for the customer and saves shipping costs by weighting less.
Nothing happens. The status of our business does not affect the functionality of the products we sell in any way. The BIP39 standard is open to the public and we just provide a backup solution of it. Once you setup your backup you are the only and true owner of it.