diff --git a/backups/README.md b/backups/README.md index 3d3cdac..19e6fdc 100644 --- a/backups/README.md +++ b/backups/README.md @@ -1,6 +1,6 @@ # Single seed multi-location backup schemes -The aim here is to create 3 packages of cryptographycally secure +The aim is to create 3 packages of cryptographycally secure backups where the funds cannot be recovered from any single package, but can be recovered with the combination of any two. Can be thought of as a physical 2-of-3 multisig solution. @@ -11,7 +11,7 @@ Can be thought of as a physical 2-of-3 multisig solution. ### Electrum Wallet seed as a passphrase -A well proven way to generate a random 12 word is to create a new wallet seed in the [Electrum Wallet](https://electrum.org/#download). +A well proven way to generate a random 12 word is to create a new wallet seed in [Electrum Wallet](https://electrum.org/#download). To use Electrum boot [Tails](https://tails.boum.org/) (ideally offline) or [download and verify the wallet](https://electrum.org/#download) on an existing system. Follow steps 1-5 in this [guide](https://bitcoinelectrum.com/creating-an-electrum-wallet/) to get the seed. The wallet file is not needed, only write down the words and store accordingly as the 12 words are to be used as a passphrase, encryption passphrase, cypher phrase or wallet unlock password. Do not reuse passphrases for more than one purpose and label the backups clearly.