Bitcoin & Cryptology

Phrase Generator Bitcoin Private Keys
Phrase Generator Bitcoin Private Key Generator

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This 12-word phrase is the master seed — your private keys all rolled up into one, easily managed format. All of your private keys and addresses are derived from it. The 12-words are just as useful.

Let’s explore some more about the Seed and the pairing of Private Keys, Public Keys and Bitcoin Addresses. Our Electrum Wallet was generated using some random words called the Seed. But what exactly is this Seed, and what does it do? At the heart of Bitcoin is advanced Cryptology software that is used to encrypt and decrypt Bitcoin Wallets and Bitcoin Transactions. When you first create your Wallet, the Seed is picked up by the Wallet’s advanced Cryptology software to generate a number of unique items. The random words and letter placement in the seed is used by the encryption algorithms, to create encryption patterns and Keys that are unique to your Wallet.[

Word seeds are important to backup when using hardware wallet devices and even other types of wallets. Seeds written in this fashion are human-readable representations of your private key. Mnemonic code or mnemonic seed phrases have been quite beneficial for humans to transcribe and backup bitcoin keys.

First, your Wallet’s main datafile, which stores details of your Bitcoin transactions is created and encrypted. As the Blockchain Public Ledger holds details of every single Bitcoin Transaction ever made, all transactions from your Wallet will also exist in the Blockchain Public Ledger. Next, matching pairs of Private Keys and Public Keys will be created, along with some unique Bitcoin Addresses that are matched to these keys. You need a supply of Bitcoin Addresses in order to send or receive Bitcoin into your Wallet. And every Wallet can create an unlimited number of unique Addresses.

Private Keys and Public Keys

Each Bitcoin Address is directly linked to a pair of matching keys, the Private Key, and the Public Key. The “Private Key”, must remain securely on your own Wallet, as it is used to encrypt and authorize transactions leaving your Wallet. Never, for any reason show anyone what your Private Keys are, as this makes your Wallet vulnerable to cyber-crime and potential theft. If anyone found out what your Private Keys were, they could potentially steal Bitcoins from your Wallet, in much the same way that they could if they stole your Seed. The other Key is the Public Key. This matches up with your Private Key, to form a matching pair, a bit like non-identical twins.

Next we have the Bitcoin Address itself. Every Bitcoin Transaction you make from your Wallet generally uses a completely new and unique Bitcoin Address, which helps retain your anonymity and protects your wallet. The Bitcoin address is a mathematically related shortened version of your Public Key, created using a technique called hashing. So in summary, a bitcoin address is a mathematically related and shortened version of your public key, which itself is mathematically related to your much larger and more complex Private key. Your Private Key creates your Public Keys, authorizes transactions leaving your Wallet, and proves ownership of your transactions. I did mention Bitcoin was complicated, didn’t I?

When Bitcoin transactions are decrypted by the Miners, for inclusion into the Blockchain Public Ledger, the included Public Key and Bitcoin Addresses identifies the transaction as either coming from your Wallet, or being sent to your Wallet. You can view your Private Keys inside your Wallet, but you don’t need to worry about them too much for day-to-day use. The pairing of public and private keys, when transacting in Bitcoin, is handled automatically by your Wallet. If you want to learn more about the Seed, Bitcoin Addresses, and Public or Private Keys, check the Webpage for this episode and follow the links to more reading.

Always keep your Seed (Recovery Phrase) and Private Keys Secure, Secret and Confidential!

I believe, by now you must have read my previous article on Bitcoin seed & Mnemonic phrase, if you haven’t read it, please do so because after that you will be able to appreciate the concept of BIP39 and Bitcoin mnemonic generator thoroughly.

But anyway, let me get started with BIP39:

BIP 39 is another Bitcoin Improvement Protocol like BIP 38, and it is used to generate Bitcoin mnemonics (i.e., 12-word seeds) that are human-readable. These mnemonics are also called BIP39 mnemonics.

So, What Is A BIP 39 tool or Bitcoin Mnemonic Generator?

A tool that is used to generate BIP39 mnemonic phrases randomly is called a Bitcoin mnemonic generator or BIP 39 tool.

But many a time, this tool is also used to covert BIP39 mnemonic phrases to public addresses and private keys.

Phrase generator bitcoin private key generator

BIP39 describes the implementation of a mnemonic sentence.

It consists of two parts: generating the mnemonic and converting it into a binary seed. The English-language wordlist for the BIP39 standard has 2048 words, so if the phrase contained only 12 random words, the number of possible combinations would be 2048¹² = 2¹³², and the phrase would have 132 security bits.

However, some of the data in a BIP39 phrase is not random, so the actual security of a 12-word BIP39 mnemonic phrase is only 128 bits. This is approximately the same strength as all Bitcoin private keys, so most experts consider it to be sufficiently secure.

Note: It is not advisable to invent your own mnemonic phrase because humans are bad at generating randomness. That’s why the best way is to allow the wallet software or a Bitcoin mnemonic generator to generate the phrase which you can write down. Also, remember to safely store this phrase because losing this would mean losing all your funds. (Wikipedia)

Related: How To Keep Bitcoin, Litecoin, Ethereum Like Cryptocurrencies Safe & Secure !!

How To Use a BIP39 Tool or Bitcoin Mnemonic Generator?

Using a mnemonic generator is easy, and for this tutorial, we are taking the example of Bitcoin because it is the most popular currency in the market and many people relate with it.

Iancoleman tool is the most reliable bip39 passphrase generator which is used for this purpose, and it is also popular in the market as a BIP39 tool. Here is the step by step procedure to generate Bitcoin mnemonic using it:

#1. Go to iancoleman.io and select the length of your mnemonic. You can also vary the length of your random mnemonic by using the option shown below.

#2. Once you have decided the length, you can select your mnemonic language as ‘English.’ You may choose other languages based on your choice.

Note: Make sure you have selected ‘Bitcoin’ in the Coin section, and your BIP 39 Mnemonic will be ready that you can copy paste on a piece of paper to secure it safely.

This tool is also known by the other two names such as:

bitcoin passphrase generator
bitcoin seed generator

That’s because this Bitcoin mnemonic generator can eventually calculate the other two things that I have mentioned above.

You can find the seed and private keys below on the same page of the tool if you scroll down.

And if you have read, my previous article on HD wallets, you will be able to recollect and understand the process of the deterministic-key generation which is ultimately derived from BIP39 mnemonic only.

Conclusion

All the modern Bitcoin wallets have BIP39 tool inbuilt in them which is ultimately responsible for providing you the Bitcoin mnemonics of varying lengths.

Usually, you are not advised to use this online tool, and there is no need also when modern-day wallets are

Phrase Generator Bitcoin Private Key