The holiday season is here. A time of joy, celebration, and sometimes, a few “Oops” moments. From spilled drinks, forgotten PINs, damage to devices, mishaps can happen.
This year, Trezor is here to help you navigate the chaos and keep your crypto safe with our special holiday campaign. Enjoy discounts on a bunch of our products, from hardware wallets, to backup devices, limited-edition bundles, and more. It’s time to enjoy an Oops-Proof holiday season!
As you gear up for festive gatherings and family reunions, it’s essential to remember that mishaps can occur. Whether it’s that spilled glass of red wine on your wallet backup card — an “Oops” moment easily avoided with the Trezor Keep Metal(currently at a 50% discount) – or forgotting the PIN to your hardware wallet (which you can reset it in minutes), these little blunders can lead to unnecessary stress.
But don’t worry! Our range of products is designed to keep your digital assets secure, no matter what those little holiday mishaps bring your way.
Going through that Oops moment wondering what’s the perfect gift for the holidays? How about a hardware wallet?
The sleek, stylish, and secure Trezor Model T is currently available at a 40% discount.
If you have a relative or friend just starting their Bitcoin journey, the Trezor Model One — now priced at under $35 — makes an ideal gift. This trusted, proven, and affordable hardware wallet has been the go-to choice for offline crypto security for over 10 years.
At Trezor, our hardware wallets are designed with robust security features to protect your loved ones’ assets from any mishaps. Whether they’re seasoned crypto enthusiasts or new to the space, gifting a Trezor wallet is a step to giving them the peace of mind they need on their crypto journey.
Looking to take your gift-giving to the next level? We have exclusive bundles on sale that combine the best of our hardware wallets and backup solutions. These bundles are crafted to provide everything you need for effective crypto management at an unbeatable price.
Here’s a look at one of the deals,
Trezor Safe 3 Backup Bundle
Secure your crypto with the Trezor Safe 3 Backup Bundle. This stylish package includes the sleek Trezor Safe 3 hardware wallet in Cosmic Black, paired with the ultra-durable Trezor Keep Metal 20-word backup for top-notch security.
With our exclusive discounts, it’s easier than ever to prioritize crypto security this season!
Explore all of our bundles here,
This holiday season, embrace the spirit of giving while ensuring your loved ones’ crypto remains secure. With Trezor’s range of hardware wallets, backup solutions, and exclusive holiday bundles, you can make thoughtful gifts that provide peace of mind in the face of life’s little “Oops” moments.
Explore our full selection of products and bundles today, and let’s make this holiday season a truly “Oops-Proof” celebration! Happy holidays from all of us at Trezor!
The Philippine Securities and Exchange Commission (SEC) has removed broad provisions and introduced stricter operational requirements in the newly revised draft rules for Crypto-Asset Service Providers (CASPs).
The proposed issuance, now titled “SEC Guidelines on the Operations of Crypto-Assets Service Providers,” removes or revises several high-level policy sections from the original “SEC Rules on Crypto-Assets Service Providers,” in favor of highly detailed technical and compliance guidelines.
What’s New
Minimum Capital Requirement: CASPs must now have at least ₱100 million in paid-up capital, a figure not specified in the older draft.
CASP Form 1: Applications must now include over 15 specific documents, including risk matrices, IT architecture descriptions, and board resolutions.
Operational Frameworks: New detailed requirements include client support systems, cyber resilience, local data centers, and independent audits.
Record-Keeping: Monthly, quarterly, and annual reports must be submitted, covering user activity, trading records, and financials.
Clear Limitations: The new draft prohibits leverage trading, unauthorized crypto derivatives, and proprietary trading of customer funds (unless approved by the SEC).
Exemptions: Under the new draft, the SEC may grant an exemption from registration if the exemption is consistent with public interest and investor protection. This is a new regulatory flexibility.
What Was Revised
Marketing and Promotions Rules: No more explicit rules on CASP advertising or social media promotions.
Insider Trading and Market Manipulation Provisions: These were fully detailed in the older version but are only briefly mentioned or condensed now.
Public Offering and ICO Guidelines: Disclosure document rules and offering statements are no longer part of the guidelines.
Enforcement Tools: Provisions on civil actions, disgorgement funds, and coordination with other agencies were removed.
Key Focus Areas in New Draft Rules
Area
Summary
Registration
Must submit detailed compliance documentation and meet capital standards
Trading and Listing
Strict vetting of crypto-assets before admission to platform
Risk Management
Required annual audits, vulnerability tests, and IT documentation
Customer Protection
Segregation of client assets and mandatory suitability assessment
Penalties
Tiered fines based on violation count, with possible registration cancellation
Registration, Penalty, and Fees
Public Feedback Deadline
Stakeholders may submit their comments on the draft until April 26, 2025 to fintech@sec.gov.ph or deliver hard copies to the SEC’s PhiliFintech Innovation Office in Makati.
Press Release | April 10 – Panama – Leading global digital asset platform Gate has released its Q1 2025 Transparency Report, showcasing comprehensive breakthroughs across multiple business segments. Core metrics reached historic highs, security infrastructure underwent full-scale upgrades, product offerings expanded significantly, and global strategies accelerated, all reflecting its robust growth momentum and a solidified market foundation.
This is a press release submitted to BitPinas.
Trading Business Surge: Futures Trading Volume Up 31% QoQ
In Q1 2025, Gate maintained its industry leadership with remarkable user growth and trading volume breakthroughs. The platform’s expanding user base underscored its strong market appeal and sustained growth momentum.
Futures Trading saw explosive growth, with the number of traders and overall trading volume surging. Futures trading volume increased by approximately 31% quarter-over-quarter (QoQ).
In Spot Trading, the platform listed over 200 new tokens, reinforcing Gate’s leading edge in asset selection and listing efficiency, providing users with a broader and higher-quality range of investment options.
Gate newly launched the “Refer to Earn” program which integrated social media and interactive campaigns to drive user acquisition and trading activity, fostering sustainable community growth.
Strong Tokenomics: GT Price Hits Historic High of $25.96
This quarter, Gate’s native token GT delivered stellar performance in Q1 2025, reaching an all-time high of $25.96 on January 25, a 70% increase year-to-date.
As the native utility and gas token of GateChain, GT underpins the blockchain’s fundamental transaction infrastructure.
GT holders also enjoy exclusive benefits such as LaunchPool airdrops, mining rewards, and staking incentives.
Since GateChain’s 2019 launch, GT has maintained a deflationary burn mechanism, reducing total supply by around 60% from its initial 300 million.
This underscores Gate’s long-term commitment to deflationary tokenomics and reinforces GT’s value proposition for long-term holders.
So far, a total of 177,089,412.23 GT has been burned, with a total burn value of approximately $408,270,578.
Security First: Total Reserves Exceed $10.328 Billion
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Gate remains steadfast in safeguarding user assets and information security, further enhancing reserve transparency and platform security. As of January 17, 2025,
Gate.io’s total reserves reached $10.328 billion, ranking Top 4 globally among crypto platforms. The reserve ratio stood at 128.58%, exceeding the 100% industry benchmark. Excess reserves totaled $2.296 billion, providing robust protection for user funds.
Gate attached great importance to advancing its global compliance framework, including the acquisition of Coin Master, a licensed exchange in Japan, through one of its entities, further expanding its localized business in the Japanese market.
Launchpool Upgrade: 140+ Projects Launched with $14M+ Rewards
In Q1 2025, Gate Launchpool (formerly Startup Mining) became a premier platform for new token launches.
It hosted over 140 projects, including more than 90 free airdrops with a total value exceeding $5.2 million.
And the platform launched over 70 mining projects distributing more than $9.2 million in rewards.
The platform introduced a project search function and intelligent strategy filter, enabling users to match optimal mining plans within three minutes.
The HODLer Airdrop program lowered its entry threshold to 1 GT, delivering an average annualized return of 43.94%.
Demonstrating its agility in responding to market trends, on the listing day of the trending token TRUMP, mining was activated immediately, and stake volume surpassed $25 million within 24 hours, attracting significant user participation and fostering a win-win environment between the platform and project.
Gate Pilot Listed Over 1,000 Tokens, Capturing Multiple High-Yield Memes
Leveraging its first-mover advantage and continuous innovation in the Meme sector, Gate Pilot has further solidified its leading position in the field.
This quarter, Gate Pilot successfully integrated more than 10 major public blockchains, including Ethereum, Solana, and Base.
Nearly 400 tokens were listed this quarter, bringing the total number of listed tokens to over 1,000.
Gate Pilot maintains a leading position in the industry and offers users a richer and more diverse range of investment options.
Meanwhile, innovative tools such as “Logo Mode” and Meme Gem Index were launched, significantly enhancing users’ ability to identify tokens and market trends while lowering the barriers to Meme trading.
With its fast listing mechanism, Gate Pilot helped users capture multiple high-yield projects ahead of the market, including quality Meme tokens like Kekius (55x), Trump (45x), YZY (46x), and Mubarak (28x). In addition, the platform partnered with projects such as MemeCity and MemeCore, actively participating in offline industry events to strengthen its leading position in the Meme sector.
Strong Institutional Business Performance and Continuous Infrastructure Upgrades
Gate’s institutional business achieved significant breakthroughs in both trading volume and ecosystem development.
Institutional clients’ futures and brokerage business trading volumes both saw marked growth.
By optimizing trading infrastructure and market depth, latency was reduced by more than 2-fold, significantly improving users’ trading efficiency.
Furthermore, futures liquidity improved, and the number of spot and futures market makers increased.
Additionally, Gate introduced the new Fireblocks Off-Exchange solution, offering institutional clients more flexible fund management options. Through joint marketing campaigns with over 20 partners, Gate further expanded its professional client base and strengthened the building of its premium user community, further consolidating Gate’s leading position in the global cryptocurrency field.
Significant Growth in Quantitative Investment, Copy Trading Volume Soared 780%
This quarter, Gate achieved remarkable growth in copy trading, bot strategies, and ETF products.
In terms of copy trading, the launch of the Prometheus automatic risk control system created a safer trading environment for users; spot copy trading volume surged by 780%, and the highest yield from a leading user reached 890x, offering users opportunities for excess returns.
Robot products, through continuous optimization of the Ultra AI strategy and intelligent algorithms, have generated over $500 million in cumulative trading revenue for users. The newly launched BotsLive streaming column and weekly strategy recommendations significantly boosted user engagement; the number of new strategies created increased by 404% quarter-on-quarter, and the number of users creating new strategies grew by 193%.
The ETF business also performed strongly, with the platform supporting over 200 ETF leveraged tokens, maintaining a leading position in the industry. By the end of the quarter, ETF trading volume had increased by 40% quarter-on-quarter, and the number of participating users had grown by 197%.
Partnering with Top Players to Build Global Blockchain Influence
In the first quarter of 2025, Gate made simultaneous advances in global brand expansion and blockchain investment.
Gate.io announced its official sponsorship of the Oracle Red Bull Racing team in F1, initiating a multi-year strategic partnership.
This collaboration is not only a powerful alliance between two industry leaders but also marks the expansion of blockchain technology from the race track to the global stage, promoting Web3 and digital finance concepts to a broader audience through a world-class sports platform.
Meanwhile, Gate Ventures joined the newly established Morph Venture Capital Collective alliance, further expanding its blockchain investment landscape. In addition, Gate Ventures invested $20 million in the BNB Incubation Alliance (BIA), jointly initiated by BNB Chain and Binance Labs, demonstrating its firm commitment to advancing the Web3 ecosystem and nurturing the next generation of blockchain innovation projects. By empowering projects with capital, resources, and networks, Gate is taking concrete actions to help bring blockchain technology into the mainstream.
Disclaimer: This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate.io may restrict or prohibit certain services in specific jurisdictions. For more details, please read the User Agreement: https://www.gate.io/zh/user-agreement.
Ethereum has been struggling to keep up lately, with recent Ethereum news highlighting a drop below $1,500 and signals of deeper weakness in both demand and network activity. A similar trend is playing out in the Polkadot (DOT) price, which just hit a five-year low after losing key support levels.
But while these established names face headwinds, BlockDAG (BDAG) is heading in the opposite direction. Its beta testnet is officially live, and to kick things off, the team is offering $60,000 in rewards to 30 users—based on mining activity, wallet use, and coin balances.
Add to that the return of its Chest Boost bonus system, where each purchase unlocks higher multipliers, and it’s easy to see why the presale has already topped $214 million ahead of the upcoming Token Generation Event.
Ethereum News: Value Under Pressure from ETF Outflows
Recent Ethereum news is drawing attention as ETH slips below the $1,500 mark, weighed down by weak ETF demand, bearish on-chain metrics, and fading network activity.
Analysts point to Ethereum trading beneath its realised price—a sign of potential capitulation among holders. Investment flows into spot Ethereum ETFs have also reversed, with over $90 million withdrawn in recent weeks.
At the same time, key metrics like open interest in futures and user activity on the network continue to decline. According to recent Ethereum news, some projections now place a possible price bottom near $1,000 if current conditions persist.
Polkadot Value Hits 5-Year Low: Is Short-Term Rebound Next?
The Polkadot (DOT) price reached a five-year low of $3.25 on April 9, dipping below its long-standing $3.70 support zone. This decline confirms a breakdown from both horizontal and ascending support levels, with technical indicators—like a falling RSI and negative MACD—signaling ongoing bearish pressure.
However, the daily chart shows a potential for a short-term recovery. A completed five-wave pattern and bullish divergence in the MACD suggest that a rebound could follow. If a breakout occurs, analysts project the Polkadot price might climb toward the $6.50–$7.50 range before any longer-term trend resumes.
BlockDAG Offers $60K & 5X Rewards as TGE Countdown Begins
BlockDAG’s Beta Testnet launch is pulling serious weight thanks to a $60,000 incentive campaign that rewards real network activity ahead of its official debut. The setup is simple but smart: $2,000 in BDAG will go to each of the top 10 miners, the 10 most active wallets, and the 10 wallets holding the highest testnet balances.
This structure gives participants a reason to dig in and interact with mining, staking, and wallet functions—all while pressure-testing the system before the Token Generation Event. It’s a hands-on way to validate the network under real-use conditions.
At the same time, BlockDAG has brought back its popular Chest Boosts system. It kicks off with an automatic 5X reward on the first purchase. These rewards escalate with each purchase, unlocking up to four increasingly rewarding chests. Every new purchase brings a bigger multiplier, turning early support into a kind of progression game. This reward style has caught fire, creating stronger momentum across the community and helping drive the project’s already fast-growing presale totals.
The BDAG coin presale stats tell the story: over $214 million raised, 19.2 billion coins sold, and a value increase of 2,380% from $0.001 to $0.0248 by batch 27. With the TGE approaching, these entry prices are nearing their final stretch.
Analysts now rank BlockDAG among the crypto coins to watch, citing its active community, strong development roadmap, and potential for substantial returns up to 30,000X ROI. As the project shifts closer to public listing, the opportunity to buy BDAG at this low presale price will soon become part of its early history.
Final Takeaway
Ethereum’s outlook remains cautious, with recent Ethereum news pointing to lingering weakness unless key metrics reverse course. The Polkadot price may find short-term relief, but long-term recovery hinges on breaking past resistance.
Meanwhile, BlockDAG is in an entirely different lane. Its beta testnet is live, $60K in rewards are flowing, and the presale is surging past $214 million. With prices already up 2,380% and the chest bonuses active—for a limited time—there’s a clear sense that this early phase won’t last much longer.
As the Token Generation Event draws closer, BlockDAG is quickly becoming one of the best crypto coins to watch. However, once the presale ends, current entry points will disappear for good.
Disclaimer: The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets. Past returns do not always guarantee future profits.
Bitcoin appears poised to reach $100,000 in the short term, though a pullback beforehand could provide a stronger foundation for its continued upward trajectory.
The NVT Golden Cross divergence points to transaction volume growth and potential undervaluation, reinforcing a bullish outlook.
While retail investors have been taking profits near the all-time high, wallets holding 100-1,000 BTC have been leading in accumulation.
Weekly outlook
Bitcoin’s new all-time high
November continues to solidify its reputation as one of Bitcoin’s strongest months, with the cryptocurrency recording a 30% price surge so far. This rally has been largely tied to the “Trump trade,” reflecting optimism about the president-elect’s crypto-friendly promises. However, historical data suggested that Bitcoin’s broader trajectory would likely have remained positive regardless of the election outcome. Moreover, the election primarily served as a psychological barrier, delaying investment decisions until its conclusion.
Nevertheless, Bitcoin hit a new all-time high near $93,400 following U.S. CPI data that showed inflation rising by 0.2% to 2.6%. Shortly after, Fed Chair Jerome Powell’s comment that “the economy is not sending any signals that we need to be in a hurry to lower rates.” This briefly pushed Bitcoin below $90,000 and decreased chances of the rate cut in December
As a result, Bitcoin’s price entered a consolidation phase, forming a symmetrical triangle with signs of a bullish pennant pattern. The Volume Oscillator has been declining during this phase, showing upticks on upward moves, indicating that bulls might still have the upper hand. The RSI on a 4-hour chart has been in a descending trend, but a solid breakout above the resistance line (white line) could hint at further continuation of the bullish move.
Notably, this price action resembles Bitcoin’s performance in December 2020, when Bitcoin also jumped by 30% amid the breakout of an all-time high. Back then, the asset experienced a week-long consolidation before resuming its upward trend.
NVT Golden Cross divergence
As Bitcoin reached new highs, the NVT Golden Cross showed a divergence, falling below -1.6. This could signal either a lag in transaction volume relative to price appreciation (bearish sign), or potential undervaluation (bullish sign).
In November, USD-denominated transfer volume doubled, while BTC-denominated one increased by 40%. This suggests a combination of organic network activity and price-driven demand, potentially providing a more solid foundation for further price gains. Thus, the NVT Golden Cross divergence leans toward a bullish signal, indicating that the current pause in momentum may be temporary, with further upward movement likely once this consolidation phase concludes.
U.S. spot Bitcoin ETFs posted the sixth week of consecutive inflows, totaling $2.04 billion. However, the bullish trend softened after a record daily inflow of $1.3 billion on November 7, culminating in a $400 million outflow last Thursday. Historically, such significant outflows have coincided with local bottoms, suggesting the possibility of renewed upward momentum unless outflows persist.
Retail investors led in profit-taking near the all-time high
Over the past month, as Bitcoin’s price climbed, retail wallets (<100 BTC) consistently showed a negative 30-day balance change, which accelerated after breaking the all-time high. This suggests sustained selling activity, which has been exceeding other wallet holder cohorts.
In contrast, sharks (100-1,000 BTC) steadily accumulated Bitcoin throughout the period, capitalizing on the upward price momentum. Whales (>1,000 BTC) initially increased their balances before shifting to net outflows, indicating redistribution. Exchange wallets continued experiencing outflows, with Bitcoin reserves decreasing by 2.5% over the last week.
Historically, the 20-day EMA (yellow line) and 50-day SMA (orange line) acted as key dynamic support lines throughout post-halving rallies. For instance, during Bitcoin’s climb from $10,000 to $60,000 in 2020-2021, these levels acted as turning points, reestablishing bullish momentum after local pullbacks. Despite recent consolidation, Bitcoin currently trades far above these averages, suggesting that a pullback could provide a healthier foundation for its upward trajectory.
Furthermore, Bitcoin futures and options markets have reached or approached all-time highs in both volume and open interest. Perpetual futures funding rates and long position premiums are at their highest levels since March. Typically, such spikes preceded pullbacks or short-term consolidations during bull runs. If the correction unfolds, the 20-day EMA could act as a potential target for bears.
Despite the possibility of a pullback, Bitcoin seems to be in a classic post-halving rally. The asset formed a Cup and Handle pattern on the weekly chart suggesting a target of $120,000 if fully realized. The weekly MACD has also produced a bullish crossover (green circle), historically a precursor to prolonged rallies.
In turn, the Pi Cycle Oscillator is currently at levels similar to Q4 of previous halving years. From this position, it has historically taken Bitcoin about 3-6 months to surpass the 350-day SMA x2, which currently stands near $120,000. Notably, when the 111-day SMA crosses the said moving average, this event historically coincided with the formation of cycle peaks.
Bitcoin is well-positioned to continue its post-halving rally, showing a convergence of macroeconomic factors, institutional interest, and robust on-chain activity. A bullish scenario suggests that a $100,000 mark could be broken in the coming weeks, but a stronger correction may follow in this case. Conversely, a bearish scenario suggests a retest of the 20-day EMA, which, while slowing the pace to a six-digit price, could strengthen the foundation for a more sustainable bull run.
The web content provided by CEX.IO is for educational purposes only. The information and tools provided neither are, nor should be construed as, an offer, or a solicitation of an offer, or a recommendation, to buy, sell or hold any digital asset or to open a particular account or engage in any specific investment strategy. Digital asset markets are highly volatile and can lead to loss of funds. The availability of the products, features, and services on the CEX.IO platform is subject to jurisdictional limitations. To understand what products and services are available in your region, please see our list of supported countries and territories. This page includes additional links to information about individual products, and their accessibility.
You’ve heard this before, Not Your Keys, Not Your Coins. When it comes to your digital assets, security takes the front seat. Whether you’re a seasoned investor or just getting started, understanding how to properly store your wallet backup (also known as recovery seed) is essential for safeguarding your digital assets.
A compromised or lost wallet backup can lead to the permanent loss of your funds, so taking the necessary precautions is critical.
This guide will explore the best practices for securing your crypto wallet backup, highlight common mistakes to avoid, and suggest ways you can keep it safe.
A wallet backup (also known as a backup, recovery seed, seed, seed phrase, BIP-39 seed phrase, mnemonic, recovery phrase) is an ordered list of English words that contain all information necessary for recovering your wallet (i.e., accessing bitcoin or other cryptocurrency funds on-chain). A wallet backup provides full access to the associated wallet (the private key is mathematically derived from the wallet backup) — this is why you must keep it safe.
Think of it as the password to your crypto holdings — it enables you to access, transfer, and manage your funds. Without it, your assets are permanently lost.
You’re given a wallet backup when you set up a hardware wallet like Trezor. This unique phrase is generated during the wallet initialization process.
Losing or exposing your wallet backup means:
You lose access to your funds forever.
No third party, not even Trezor, can help you recover it.
Hence, properly storing your wallet backup is one of the most critical aspects of cryptocurrency security.
Important to know: Your wallet backup is a ‘plain English’ representation of a random number, from which all of your keys and addresses are mathematically derived.
It is an ordered sequence of 12 or 24 words for wallets using the BIP39 protocol, chosen from this list of 2048 words. In the case of the newer SLIP39 protocol, it is a sequence of 20 words chosen from this list of 1024 words
When you write down your wallet backup, the words must be copied down in the same order they appear
You must keep your wallet backup private and safe so that your cryptocurrency is never at risk. Having a safe wallet backup means you can recover your Bitcoin or other digital assets in case of hardware failure or the loss of your device
To keep your crypto assets secure, avoid these common mistakes:
1. Relying on Digital Devices
Storing your wallet backup on a computer, phone, or cloud service is highly risky. If your device gets hacked or compromised, attackers can easily steal your wallet backup, and gain access to your cryptocurrencies.
Rule of thumb: Do not keep digital copies of your wallet backup (this includes screenshots, photographs, emails, Dropbox wallet backup, etc).
2. Sharing Your Wallet Backup
Be careful who you share your wallet backup with. Sharing your wallet backup is equivalent to handing over your crypto assets to someone else.
3. Using Unsecure Physical Locations
While writing your wallet backup down on paper is a common practice, understand the risks that come with it. It is paper, after all! Storing it carelessly exposes it to risks like theft, fire, or water damage.
Here are some of the most effective solutions for securely storing your wallet backup:
1. Pen and Paper Method
Write your wallet backup down on paper in clear, legible handwriting. We recommend using capital letters. Your Trezor hardware wallet ships with a pair of wallet backup cards that you should use for writing down the words when you backup your device — this is a strongly recommended step when setting up your Trezor.
Keep your wallet backup cards safe from theft and damage
Consider making multiple copies and storing them in separate secure locations.
Drawback: Paper is vulnerable to fire, water, and physical damage over time.
2. Metal Backup Tools
We recommend this strongly. Metal backup tools, such as Trezor Keep Metal, are designed to protect your wallet backup from:
Storing your wallet backup in a hidden safe at your house is a great way to control access to it. However, the knowledge of a safe alone is enough to raise the interest of a potential thief, so if you choose to use this storage method, you should keep it in a discreet location, away from the eyes of guests, housemates, or anyone that might spend time inside your home.
Some may consider a safety deposit box at a bank. However, be mindful of bank policies that may allow access to your box under certain conditions.
Here’s a video to learn more,
4. Multi-share Backup
Trezor offers a unique feature called Multi-share Backup. This, essentially, allows you to split your wallet backup into multiple parts and store them separately.
For example, in a 3-of-5 Multi-share Backup scheme, the total number of shares is equal to 5, and the threshold is 3. This means any three of these shares can be used to recover your wallet. This is beneficial as even if one or two of your shares are somehow compromised, the entire wallet backup (recovery seed) is not exposed. This redundancy means you no longer have a single point of failure, as with the regular BIP39 backup standard (i.e., the 12-word recovery seeds used by default on most hardware wallets).
Even if one part is lost or compromised, you can still recover your wallet using the remaining parts. This greatly reduces the risk of losing all backup copies at once.
Learn more here,
5. Multisignature (Multisig) Wallets
For advanced users, multisignature wallets add an extra layer of security. A multisig wallet requires multiple keys to authorize transactions, reducing reliance on a single wallet backup.
Multisig is a method of securing a wallet by requiring approval from multiple private keys stored on separate devices when sending transactions. While Trezor recommends SLIP39 wallets as a simpler yet equally robust alternative in terms of backups, Trezor devices are fully compatible with multisig setups, allowing you to choose the option that best fits your needs.
Here’s more on this,
We founded the hardware wallet industry. Our founders, Marek Palatinus and Pavol Rusnak, were part of a team that introduced Bitcoin Improvement Proposal 39, or BIP39. This is a protocol that was introduced as a means to generate deterministic wallets. It’s a method for creating a human-readable mnemonic sentence — easy to read and write — from random data that serves as a backup to recover your wallet. In summary, the wallet backup (aka recovery seed).
This is now widely adopted in the cryptocurrency industry. Learn more here.
Trezor wallets began with employing BIP39 for the wallet backup (recovery seed phrases). When you initialize your Trezor device, it generates a unique 12, 18, or 24-word wallet backup (recovery seed). This seed is a representation of your private keys and is essential for restoring your wallet’s information in case your device is lost, stolen, or damaged. BIP39 has become a crucial part of Trezor’s security protocol, and it is used alongside other BIPs like BIP32 (Hierarchical Deterministic Wallets) and BIP44 (Multi-Account Hierarchy for Deterministic Wallets) to provide an optimal security model for cryptocurrency users.
Our recently introduced enhanced 20-word backup standard (SLIP39) ensures a more robust process for backing up and recovering your wallet compared to the legacy standard. With an upgraded, user-friendly wordlist and seamless transition to Multi-share Backup, SLIP39 offers superior security with no single point of failure.
Once your wallet backup is securely stored, it’s essential to protect it over time. What we do recommend is taking a moment to assess the most probable threats you face. It is important to understand that everyone has a different threat model, and this can change over time. Consider environmental risks, physical attacks, and remote attacks, while doing more. Read more on this here: https://trezor.io/learn/a/keeping-your-wallet-backup-safe
As such,
1. Regularly check for wear and tear or damage. For an example, if the wallet backup is is stored on paper, periodically check for fading or physical damage.
2. Protect against natural disasters. A case in point is ensuring your wallet backup is safeguarded from house fires, floods, or leaks.
3. Plan for inheritance. If you intend to pass down your crypto holdings, ensure you have a secure and private inheritance plan in place. Use a trusted legal advisor or ensure your heirs understand how to access your wallet backup securely.
Avoid these risky practices to protect your wallet backup:
Do not share your wallet backup with anyone else.
Do not keep digital copies of your wallet backup (this includes screenshots, photographs, emails, Dropbox wallet backup, etc).
Never enter your wallet backup anywhere unless prompted by your Trezor device.
Also, remember, no Trezor employee will ever ask you to tell them your wallet backup, even if you’re speaking with one of our customer support agents.
Pros: Simple, inexpensive
Cons: Vulnerable to fire, water, and damage
Pros: Durable, disaster-resistant
Cons: Comes at a cost (even if it’s only $79)
Pros: High physical security, limits access
Cons: Needs proper storage
Pros: High physical security
Cons: Relies on bank access
Pros: Reduces single-point failure risk
Cons: More complex to set up
Pros: Advanced security
Cons: Requires technical expertise
Trezor combines ease of use with robust security features, making it a top choice for protecting your wallet backup:
Here’s what sets Trezor apart from other wallets,
Trezor has been audited by independent security researchers and verified by its track record throughout its years on the market.
Our software and hardware are open-source and public. By doing so, everyone benefits from the community-tested design of their wallet, providing robust protection against real-world threats.
Trezor devices and the tailor-made software interface Trezor Suite are easy to use, making them suitable both for beginners and advanced users of cryptocurrencies.
Securing your wallet backup (recovery seed) is crucial for protecting your digital assets. By following the best practices outlined in this guide, you can safeguard your digital assets from loss, theft, or damage.
Trezor’s hardware wallets, and metal backup solutions, combined with advanced practices like multi-share backup, come together to offer a reliable and user-friendly way to secure your wallet backup. Don’t leave your crypto to chance — take control of your security today.
We recommend the use of a metal backup like Trezor Keep Metal. We definitely recommend avoiding storing the wallet backup digitally.
This depends on several factors. It is important to define your threat model. Choose a secure, hidden location that accounts for these risks. This video can help.
You lose access to your funds permanently. There is no recovery mechanism for lost wallet backups.
No, storing wallet backups online exposes them to hacking risks. Always store them offline.
Yes. Anyone with your wallet backup can access and steal your funds. Keep it private and secure.
No. Trezor does not store your wallet backup. You are fully responsible for its storage and security.
From Worldcoin activities in Metro Manila to BitPinas Webcast, here are some of the crypto news from the Philippines from last week (April 7 – 13, 2025).
Worldcoin Activity Begins in Metro Manila
After weeks of activity in Bulacan, Worldcoin launched its iris-scanning verification activity in Metro Manila as part of its pilot rollout of the Orb device. Orb devices were recently available in San Juan City, specifically at the Greenhills Shopping Center, where they operated until April 10, 2025.
The Orb is an open-source tool that scans users’ irises to confirm they are unique humans without revealing personal information. Upon successful verification, users receive a World ID—a decentralized digital identity that can be used across platforms to prove their uniqueness.
Arbitrum Ambassador Program in PH
The Arbitrum Ambassador Program officially launched in the Philippines and Greater China. Applications are now open for individuals interested in promoting the ecosystem through content creation and community events.
According to the announcement, as an Arbitrum Ambassador, participants can expect to collaborate with top protocols, gain hands-on experience in Layer 2 scaling solutions, and grow their professional network.
Roles include content creators who produce tutorials and social media content, and community builders who host online and offline events.
Subs.fun is now Live
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Joe Josue, CEO of Metasports and project head of Kusho World, introduced subs.fun, a new platform featuring tokenized subforums moderated by AI agents. Described as “Reddit with tokens per sub and AI mods,” users can post, trade, earn and even train AI alongside their communities. The platform launched with its first topic, Crypto x AI, kicking off with research-backed posts and users gamifying upvotes using strategic engagement.
Access to Subs.fun is currently limited, with early users needing an invite to join. Once inside, users can download the app, fund their wallets and participate in discussions within specialized subforums.
BCC Luzon 2025
Registration is now open for the Blockchain Campus Conference (BCC) Luzon 2025, happening from August 25 to 30 at the University of Batangas.
The nationwide campus series aims to address real-world industry challenges through blockchain technology, with focus areas including finance, health, retail, government, logistics, utilities and gaming. BCC Luzon 2025 offers a full-scale blockchain experience featuring talks, panel discussions and specialized zones such as the Hacker House, Gaming Village and a Career Fair & Exhibit.
Traders Fair Manila 2025
Traders Fair Manila 2025 will take place on May 24 at Edsa Shangri-La, bringing together traders, investors and finance professionals for a day of learning and networking.
Attendees can expect expert talks covering topics from forex and stock markets to risk management and crypto strategies. The event also features speakers who will share insights on crypto, financial literacy, and blockchain innovation.
iThink Code Camp in Bataan
Last April 11, 2025, Asia Pacific College of Advanced Studies in Balanga, Bataan hosted the iThink Code Camp, a daylong workshop focused on blockchain development using the Internet Computer Protocol (ICP). The event aimed to help participants understand ICP’s unique features, set up their local development environments and build decentralized applications (dApps) with TypeScript and Node.js.
The program included hands-on sessions on installing necessary tools, using the DFX command-line interface, deploying front-end and back-end components, and implementing Internet Identity authentication.
On April 8th, BitPinas Webcast released a new episode that explored recent developments in the crypto space, including market trends and major blockchain updates.
Key topics discussed included Marvin Agustin’s NFT concept “The Fishblock,” the growing presence of stablecoins on Ethereum, and the upcoming Ethereum Pectra upgrade. The episode also covered SparkPoint’s expansion to Arbitrum, as well as the migration of the web3 game “Infected” from Base to Solana.
The webcast featured guest speakers Tin Erispe of ETH Philippines, Steve Jimenez of IMPACT Traders Organization, and Ismael Jerusalem of SparkPoint, who shared insights on their respective projects and the broader industry landscape.
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The crypto market thrives on patterns, and seasoned investors know how to spot early signs of explosive rallies. Rexas Finance (RXS) is showing the same investor activity that preceded the historic surges of Dogecoin (DOGE) in 2021 and Pepe Coin (PEPE) in 2023. With its presale nearly sold out, whale transactions increasing, and community engagement growing rapidly, RXS appears to be on the verge of a major breakout. Unlike meme coins that rely solely on hype, Rexas Finance combines real-world asset tokenization, a DeFi ecosystem, and a Certik-audited infrastructure, giving it strong fundamentals alongside viral investor interest.
Whale Activity and Growing Investor Interest
Crypto breakouts often start with whale movements. In 2021, Dogecoin’s price surged as major investors accumulated large holdings before retail FOMO (fear of missing out) kicked in. The same happened with Pepe Coin in 2023, where blockchain data revealed large buys leading up to its explosive rally. Rexas Finance is now witnessing a similar trend, with significant purchases being made during its presale. Whale accumulation is evident, with over 91.61% of RXS tokens already sold and $47.6 million raised. Blockchain data shows large investors securing their positions early, anticipating substantial price appreciation post-launch. As history suggests, once whales take their positions, retail investors follow, pushing prices higher rapidly. If this pattern holds, RXS could be the next crypto to experience a breakout rally in 2025.
Presale Success and Tokenomics Fueling Growth
Rexas Finance’s presale has been one of the most successful this year, selling out faster than early-stage DOGE and PEPE investments. During the last phase of the presale, RXS goes for $0.20, whereas its launching price sits at $0.25. This ensures that early investors enjoy instant profits. The structured tokenomics model ensures demand remains strong post-launch, reducing risks of early sell-offs that often plague new projects. With regard to liquidity, staking rewards, and treasury management, a 1 billion cap on RXS tokens enables Rexas Finance to maintain a long-term economic balance. Unlike meme coins with rampant hyperinflation issues, Rexas finance is designed to provide controlled value increases. Designed to appeal to any investor seeking safe yet profitable avenues, Rexas is not only sustainable but highly appreciated.
Real-World Asset Tokenization: The Game-Changer
While DOGE and PEPE focused on social media buzz and memes, RXS has a use case that supports its valuation. Rexas Finance’s innovation leads the forefront on the tokenization of real-world assets by letting users purchase fractional shares on high-value assets including real estate, properties, precious metals, and artwork through the blockchain. This advancement improves the democratized capped investment access while increasing illiquid assets’ liquidity. Asset tokenization is becoming increasingly popular as institutional and retail investors look for innovative applications of blockchain technology. The global shift toward decentralized ownership models puts Rexas Finance in a prime position to lead this transformation. With investors recognizing its long-term potential, demand for RXS tokens is expected to skyrocket post-launch, driving a potential breakout similar to DOGE’s 2021 rally or PEPE’s 2023 surge.
Certik Audit and One-Million-Dollar Million Giveaway Boosting Market Confidence
Rexas Finance’s commitment to security and investor confidence is a major factor differentiating it from past meme coin breakouts. A Certik audit has been conducted on the project, and it confirmed there are no vulnerabilities related to the smart contracts and architecture of the system. This audit also ensures that Rexas Finance raises significant capital from reputable investors who place security above the hype. Rexas Finance sponsors a competition with a $1 million prize poo,l and 20 winners will share $50,000 worth of RXS tokens. This strategy not only rewards early adopters but also, crucially, seeds needed participation from community members, which is essential for the growth of cryptocurrency. Just like in 2021, when Dogecoin boosters fueled a substantial portion of its price surge, and retail investors ignited the PEPE explosion in 2023, Rexas Finance works towards developing a market that can foster these phenomenal levels.
Conclusion
Rexas Finance (RXS) is trying to replicate the investor frenzy that triggered unprecedented breakouts in Dogecoin (DOGE) and Pepe Coin (PEPE). Moreover, whale accumulation, the near sell-out presale, strong tokenomics, and groundbreaking real-world asset tokenization techniques suggest that a massive rally is expected shortly. Unlike meme coins that rely heavily on marketing ploys, RXS possesses adequate market fundamentals and the community-driven momentum required for sustainable growth. A breakout now seems unavoidable as its official launch draws nearer, which could transform RXS into one of the remarkable success stories of 2025.
For more information about Rexas Finance (RXS) visit the links below:
Disclaimer: The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets. Past returns do not always guarantee future profits.
Over the 11 months of 2024, the memecoin sector saw a 330% increase in market cap and a 979% surge in trading volume, outpacing Bitcoin by 2 and 9 times, respectively.
Memecoins’ share in the altcoin market size and volume surged by over 182% and 350%, respectively.
AI and cat-themed memecoins emerged as the fastest-growing categories in market size.
Most political memecoins lost 80% of their trading volume following the U.S. elections.
TON became the fastest-growing network for memecoins, with trading volume soaring 750-fold over the last six months.
In 2024, a 10% move in Bitcoin’s price typically triggered a 28.9% average volatility among top memecoins.
Introduction
When reviewing the list of top gainers and losers in 2024, memecoins are likely to dominate both categories. This is due to their staggering issuance: over 60,000 memecoins are created daily, with nearly half launched on Pump.fun. This surge has made entire networks increasingly reliant on memecoins; on Solana, for instance, they account for nearly 80% of DEX volume. The expansion shows no signs of slowing, as networks like Tron and Sui have recently joined the list of major memecoin “benefactors.”
The appeal is simple: frequentlyemergedstories of wallets turning a few hundred dollars into millions with investments in some “LOL” token sound more compelling for those who might not want to stick in the space for a while, or look for quick profits. As memecoins dominate in crypto-related search interest, they are becoming the new hub for retail traders, even surpassing Bitcoin in attention.
There’s no question that memecoins have been among the most influential crypto narratives this year. But just how impactful have they become? To find out, we examined the 2024 performance of the memecoins sector to assess their rising market share and behavior during high-volatility events.
Methodology
The data used for this research consists of publicly available information from CoinMarketCap, CoinGecko, CoinGlass, and Artemis. The performance of certain digital assets has been adjusted using data provided by CEX.IO Spot Trading, a trading platform, which offers deep liquidity across 300+ pairs thanks to liquidity aggregated from top-tier crypto exchanges under one roof.
The observation period for this study was focused on 11 full months of 2024 to show the monthly development of the memecoin sector. As for memecoins and categories established after the March 2024 frenzy, the observation period has primarily been June-November, or the last 6 months.
Part 1: The Weight of Memecoins in the Crypto Market
Doubled Share in Market Cap
The memecoin sector registered a 330% increase in its combined market cap in 11 months of 2024. This increase is 3 times larger than Bitcoin’s and 9 times larger than Ethereum’s over the same period. As a result, the memecoin sector substantially boosted its share within the crypto market:
In total crypto market cap — +142%, from 1.3% to 3.16%.
In total crypto market cap excluding Bitcoin (Total2)— +182%, from 2.71% to 7.62%.
In total crypto market cap excluding Bitcoin and Ether (Total3) — +167%, from 4.2% to 11.21%.
Most of this growth occurred following the memecoin frenzy in March, which became a turning point in terms of memecoin issuance. For instance, in February, the daily number of memecoins deployed on Pump.fun was limited to a few dozen, but this figure skyrocketed to thousands starting March. This frenzy was driven by the broader crypto rally and the growing feasibility of creating new memecoins. The cost-efficiency of establishing markets on decentralized exchanges (DEXs) on Solana and Base networks further amplified the surge.
Tenfold Increase in Trading Volume
Memecoins experienced even more pronounced growth in trading volume, which rose by 979% on average over the last 11 months, further elevating their position in the broader crypto market:
A 362% increase in the general crypto trading volume, now representing around 5.27%.
A 350% growth in altcoin (Total2) volume, reaching 6.52%.
A 367% surge in Total3 (excluding Bitcoin and Ether) volume, hitting 7.57% in November.
In March and November, memecoin volume almost doubled, while most other sectors lagged behind. In June, while most digital assets experienced a steep decline in volume, memecoins retained significant interest, temporarily securing 5.71% of total crypto trading volume.
Memecoins’ Volume/MCap Outpaces Most of the Market
In 2024, the Volume/MCap ratio saw substantial growth across most cryptocurrencies. Memecoins outperformed the altcoin market (Total2), with their Volume/MCap ratio jumping 150% to reach an average of 11.55%. A high Volume/MCap ratio typically signals greater trading activity relative to market size, but it also tends to increase susceptibility to sudden price swings.
Memecoins’ Volume/MCap ratio momentum primarily ramped up after the March frenzy. At its peak, the Volume/MCap ratio across the memecoin sector soared past 50%, showcasing rapid speculation. In addition, in 2024, it became more common for memecoins’ trading volume to briefly exceed their market cap, a rare occurrence among assets with market caps over $100 million (excluding major stablecoins).
Part 2: Increased Memecoin Diversity in the Crypto Market
Rising Dominance Among Leading Digital Assets
In 2021, memecoin volume and market cap were dominated by just two assets: Dogecoin and Shiba Inu. By contrast, 2024 has seen a surge in top-ranking memecoins, with the average number in the top 100 tripling from 3 in January to 10 in November. Furthermore, there has been a consistent rise each month, reflecting the resilience of interest in the memecoin sector and its expanding influence, despite general volatility.
Broader memecoin zoo
One major driver that boosted memecoins’ influence in 2024 has been the growth of new communities. This led to the formation of different memecoin categories, which haven’t generally been a thing before March 2024. This is because the vast majority of the largest memecoins were dog-themed, representing around 85% of the sector’s market cap in early March. However, their share fell to 72% by November, with AI-related and cat-themed memecoins dominating in the market cap growth over the past six months. By December, their share in total memecoin market cap increased to 3.6% and 3.8%, respectively.
In terms of trading volume, dog-themed memecoins emerged as the fastest-growing category, with a 226% increase over the past six months. However, before the U.S. elections in November, political memecoins were taking the lead in trading volume growth. Following the event, most political memecoins saw a more than 80% drop in trading volume, losing market appeal.
Note: The performance from June 1, 2024, to December 1, 2024.
Moving outside Ethereum
In previous cycles, top-ranking memecoins primarily consisted of Dogecoin and a variety of Ethereum-based tokens. However, the 2024 memecoin boom extended to other networks, with Solana being the largest winner, currently accounting for 15% of market cap and 30% of trading volume within the sector.
Over the last six months, the largest growth in market cap has been observed in TON-based memecoins, with trading volume growing over 750 times, albeit still accounting for a minor share (1% and 2% in total memecoin market cap and volume, respectively).
Note: The performance from June 1, 2024, to December 1, 2024.
New Memecoins Lead in Futures Open Interest
At the start of 2024, most memecoin-related futures open interest was centered on Dogecoin, which held around 65% of the sector’s share. However, open interest later diversified to include newer memecoins, with WIF achieving a staggering 15,000% increase over 11 full months of 2024.
Following the March memecoin rally, market attention in futures shifted toward newly launched assets. Over the last six months, POPCAT, BRETT, and MEW have shown triple-digit growth in open interest, emerging as leading memecoins in the futures market. This growth reflects heightened investor speculation and volatility expectations, particularly among newer memecoins.
Note: The performance from June 1, 2024, to December 1, 2024.
As a result, the memecoin sector turned into one of the fastest-growing in terms of crypto speculation, with the top 10 memecoins now accounting for more than 4% of total futures open interest.
By November, Dogecoin maintained its position as a leading memecoin in terms of open interest in the futures market, keeping its 65% share. However, this is primarily due to the creation of the Department of Government Efficiency (DOGE) following U.S. elections, which reestablished interest in the Dogecoin market. Before the news about the launch of this institution, Dogecoin’s share in memecoin open interest was around 51%.
Note: The share distribution as of December 1, 2024.
Part 3: Exploring Memecoin Amplifier During Market Volatility
Given memecoins’ rising share in the crypto market, we decided to analyze volatility events to gauge the sector’s sensitivity to market swings. We examined weeks with ±10% price changes for Bitcoin and Ether, using them as triggers for overall market movement. This analysis focused on the performance of the top six memecoins, which collectively accounted for over half of the sector’s market cap and trading volume in 2024. These assets include DOGE, SHIB, PEPE, FLOKI, WIF, and BONK.
Key Insights: Bitcoin Volatility
Bitcoin saw 8 weeks of double-digit price changes in 2024, yielding the following insights:
Memecoins have outperformed Bitcoin during price surges, but suffered larger drops in downturns.
DOGE and BONK have shown the strongest correlation with Bitcoin, with an average sector correlation of 0.7.
The average “memecoin amplifier” effect was 2.89x (or 2.09x excluding a surge in early March). This means that for a 10% Bitcoin price change, memecoins exhibited average volatility of 28.9% and 20.9%, respectively.
Key Insights: Ether Volatility
Ether’s 2024 volatility, with 13 weeks of double-digit price changes so far, suggested the following:
Memecoins had a higher average correlation with Bitcoin (0.74) during Ether’s fluctuations.
Memecoins underperformed Ether in more than half of the observed cases, suggesting Ether’s price changes have a limited impact on memecoin performance.
The average memecoin amplifier effect was 2.65x (1.35x excluding the Week 9 anomaly).
These price swings revealed that memecoins thrive more in Bitcoin-driven rallies than Ether ones. Furthermore, average memecoin amplifiers have been larger during BTC price surges than drops, even excluding the anomaly surge in early March.
Due to relatively high correlation and sensitivity to Bitcoin moves, the largest memecoins could potentially act as high-risk, high-reward proxy bets on Bitcoin. This is because Bitcoin serves as the primary driver of overall market sentiment, while top memecoins could be viewed as bets on this sentiment. Unlike Ethereum, which is heavily tied to utility-driven projects, Bitcoin’s simplicity as a store of value aligns more closely with the memecoin market’s speculative, hype-driven nature.
As a result, memecoins can amplify Bitcoin trading by acting as a gateway for retail investors who are looking for higher/faster returns during Bitcoin rallies. This influx can feed back into Bitcoin as traders rotate profits or losses between memecoins and Bitcoin, intensifying both trading volume and volatility.
Memecoin Performance During High-Impact Events
Memecoins have also been more sensitive to high-impact events, often reacting with amplified moves, surpassing both BTC and ETH in either direction. Within a week, memecoin response typically accelerates if there is a broader crypto market rally, or smooths out depending on the performance of top digital assets. For example, during the Yen carry trade unwinding in early August, top memecoins nearly offset losses as Bitcoin quickly rebounded.
Table: Digital asset price performance amid major 2024 events. Note: “Memes” performance includes the average price change of the top 6 memecoins over 1-day and 7-day periods.
Conclusion
Memecoins are no longer a joke — their market share in crypto has surged by 2-4 times over the first 10 months of 2024. In November, the influence of memecoins expanded even further, experiencing a new hype wave. Moreover, this may be just the beginning. Bitcoin’s dominance has been predominantly on the rise throughout this year, with only three brief altcoin seasons so far. In previous cycles, post-halving rallies have coincided with declining Bitcoin dominance and extended altcoin seasons. Consequently, the next 6-12 months could see memecoins flourish even more, potentially establishing a solid sentiment indicator for the entire industry.
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The good news? They all mean the same thing! But for new users, this terminology can be confusing when securing their assets.
At Trezor, we previously used the term “recovery seed.” However, after seeing firsthand how it caused confusion, we decided to simplify it.
Because honestly, how many new people can understand what a “seed phrase” is? It’s not intuitive, especially when the device we use to secure your crypto is called a hardware wallet. It’s easy to get lost in jargon, which only delays taking control of your crypto!
It’s exactly what it sounds like. If you lose your device and need to recover your wallet, use your wallet backup.
Our wallet backup can look like this:
Or this:
Even this:
(We’ll explain this below!)
Think of your wallet backup as the key or master password to your crypto wallet.
If your Trezor hardware wallet is damaged, you’ll need this wallet backup to recover your funds. Without it, you cannot access, transfer, or manage your funds.
It should be kept in a safe place because without it, you could be permanently locked out of your crypto.
When setting up a new wallet, you’ll be asked to write down a list of 12, 20, or 24-word words.
This list of words, generated by your hardware wallet, is your wallet backup. It represents a private key that grants access to your wallet, which holds your assets securely on the blockchain.
“But what about that crazy list of numbers above? Is that also my wallet backup?”
Here’s a fun fact… your wallet backup doesn’t actually start as a list of words!
It originates as a long, random string of mathematically derived characters, which is then converted into words to make it human-readable… crazy, huh?
Another fun fact:Trezor’s founders pioneered this approach!
Once we found a way to translate private key data into simple words, it became the industry standard.
(Just another reason to choose Trezor… humble brag 😉)
