backups: update readme

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openoms
2020-04-02 12:03:35 +01:00
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# Single seed multi-location backup schemes # 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, backups where the funds cannot be recovered from any single package,
but can be recovered with the combination of any two. but can be recovered with the combination of any two.
Can be thought of as a physical 2-of-3 multisig solution. 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 ### 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. 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. 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.