By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: BIP39: A Standard for Generating and Storing Mnemonic Phrases
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Crypto > Bitcoin > BIP39: A Standard for Generating and Storing Mnemonic Phrases
Bitcoin

BIP39: A Standard for Generating and Storing Mnemonic Phrases

John Heffernan
Last updated: July 11, 2023 5:35 am
John Heffernan
Share
6 Min Read
Screenshot 2023 07 11 110108
SHARE

BIP39, or Bitcoin Improvement Proposal 39, is a standard that describes how digital wallets generate mnemonic phrases and convert them into binary seeds. These mnemonic phrases, also known as seed phrases or recovery phrases, are a series of 12 to 24 words that can be used to restore a wallet in the event that it is lost or damaged.

Contents
How BIP39 WorksWhy is BIP39 Important?Benefits of BIP39How to Use BIP39What is a Mnemonic Phrase?Ready to Invest?

The BIP39 standard specifies a list of 2048 words that can be used to create mnemonic phrases. These words are selected from a variety of categories, such as animals, plants, objects, and actions. The order of the words in a mnemonic phrase is important, as it determines the corresponding binary seed.

How BIP39 Works

The BIP39 standard defines a two-step process for generating a mnemonic phrase from a random number. First, a random number is generated that is 128 to 256 bits in length. This number is then converted into a mnemonic phrase by selecting 12 to 24 words from the BIP39 wordlist.

The second step in the BIP39 process is to generate a binary seed from the mnemonic phrase. This is done by taking the first 128 to 256 bits of the SHA-256 hash of the mnemonic phrase. The binary seed can then be used to restore a wallet by entering it into a compatible wallet software.

Why is BIP39 Important?

BIP39 is important for Bitcoin because it provides a standard way for users to store their Bitcoin. This makes it easier for users to restore their wallets if they are lost or damaged. Additionally, BIP39 helps to ensure that mnemonic phrases are generated in a secure manner.

One way to use BIP39 to secure Bitcoin is to use the BIP39 Colors tool. This tool translates a BIP39 mnemonic phrase to colors and vice versa. This can be useful for obfuscating your mnemonic phrase, as it makes it more difficult for someone to guess your seed if they only have the colors.

Benefits of BIP39

There are several benefits to using BIP39, including:

  • Independent color storage: The colors in a BIP39 Colors mnemonic phrase can be stored independently, without any specific order. This allows users to store the colors in a variety of ways, such as in CSS files, PNG images, or even at home.
  • Color code obfuscation: The use of color codes in BIP39 Colors makes it difficult for someone to guess the mnemonic phrase, even if they have the colors. This is because color codes are common and easily accessible, so someone would not likely suspect that they are being used to store a mnemonic phrase.
  • Security through obscurity: The fact that most people are not familiar with BIP39 Colors makes it more secure than traditional mnemonic phrases. This is because someone who is not familiar with BIP39 Colors would not be able to easily guess the mnemonic phrase, even if they had the colors.
  • Open source: The BIP39 Colors project is open source, which means that the code is available for anyone to inspect. This provides additional security, as it allows anyone to verify that the code is not malicious.

BIP39 Colors translates a BIP39 mnemonic to colors and viceversa.

Check out the tool :https://t.co/IGrq8LlCXu

– It obfuscates your mnemonic phrase
– You can save each color independently without any order (at home, in css files, png images, …)
– Color codes are… pic.twitter.com/Td2sm3igVt

— Entero Positivo (@EnteroPositivo) June 25, 2023

How to Use BIP39

If you are using a digital wallet that supports BIP39, you will be prompted to generate a mnemonic phrase when you create a new wallet. You will need to write down the mnemonic phrase and store it in a safe place. If you lose your wallet, you can restore it by entering the mnemonic phrase into a compatible wallet software.

What is a Mnemonic Phrase?

A mnemonic phrase is a series of 12 to 24 words that you can use to restore a cryptocurrency wallet. The words in a mnemonic phrase are generated randomly from a list of 2048 words, and the order of the words is important.

Mnemonic phrases are also known as seed phrases or recovery phrases. They are a secure way to store the information needed to restore your cryptocurrency wallet. If you lose your wallet, you can use your mnemonic phrase to restore it and access your funds.

It is important to store your mnemonic phrase in a safe place. Do not share it with anyone, not even your friends or family. If you lose your mnemonic phrase, you will not be able to access your funds.

Ready to Invest?

Platforms such as KXCO or XT Exchange provide opportunities to buy and sell Bitcoin and other digital assets. However, it’s essential to conduct your own research and carefully evaluate these platforms before engaging in any transactions. Remember that investing in cryptocurrencies carries inherent risks, and it’s important to exercise caution, seek professional advice if needed, and comply with local regulations.

You Might Also Like

Hotels as Art Galleries in Asia

125 Public Companies Now Hold Bitcoin

Ferrari Hypersail

Banking Apocalypse, Bitcoin’s Just the Beginning

Bitcoin at ATH, What Next?

TAGGED:Bitcoincryptocryptocurrency

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By John Heffernan
Follow:
John Heffernan is a BSc Economist with Honors. Currently working as an Analyst at KXCO, and has contributed on equities and Crypto at Live Trading News.
Previous Article maxresdefault 1 AUTOMOBILI PININFARINA GOODWOOD FESTIVAL OF SPEED
Next Article e97c626a4a185f7c0a0d1768a6dc7099 1 Now is the Time to Start Your Business in China
Buy Bitcoin

Buy Bitcoin

Latest News

Saint Francis of Assisi in Ecstasy Caravaggio c.1595
St. Francis: The Deeds You Do Today
Catholic Featured Headline News Lifestyle Lifestyles of the RIch and Famous Living Luxury Opinion Politics Shayne Heffernan July 11, 2025
Screenshot 26 6 2025 132527
Tokenization and the Future of Financial Markets
Bitcoin Blockchain DeFI Digital Assets Economy Headline News KXCO Politics USD July 11, 2025
photo 2025 03 03 07 22 06
InfoFi: The Latest Abomination in Crypto
Crypto Featured Headline News Shayne Heffernan on Investments July 10, 2025
czi0oawj8y561
Asia’s Growth Resilience Amid U.S. Tariffs
America Asia Asia Business Featured Headline News KXCO Politics USD July 10, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?