Hey Guys. I’m kind of newbie to crypto, but gone already through a several blogs and articles about hidden wallets, yet couldn’t find answers I was looking for.
If we can so easily create wallets - for hidden just a new passphrase is enough to type - are you guys having some ‘best practices’ about which wallets you use for which purposes?
Does it makes sense for trading/transferring etc. to use standard wallets, but when crypto lands in such standard one move it to the hidden wallet?
Since I do not know/understand yet the whole concept of storing/encrypting/hashing etc. of wallets addresses, I’m not sure if I’m thinking right with above ‘best practices’ query. Thanks.
A hidden wallet is essentially a separate entity from your standard wallet, and you’ll need both the seed and the specific passphrase to access it. Check out our page Passphrases and hidden wallets to learn more.
The main advantage is that if an attacker finds your seed phrase, they’d also need to know the passphrase to get into your hidden account. However, to get this extra protection, you must use a strong and random passphrase. The page EFF Dice-Generated Passphrases has some information and tools on how to generate such a passphrase.
You can also use the passphrase feature to separate accounts. There is no need to transfer to the standard wallet first, you can transfer crypto to a hidden wallet straight away.
When you use passphrases, the main threat is to get locked out of your wallet. It is surprisingly easy to get confused, forget a passphrase, and lose access to the wallet. Here’s what I recommend:
Check your 12 or 24-word seed phrase first using Check Backup in Trezor Suite’s Settings
Write down your passphrase on a separate piece of paper, and double check it.
Practice with small amounts of crypto at first.
Once in a while, try to get into all of your accounts to practice and make sure you still know how to access them.
Do not use the passphrase feature if you are unsure. We cannot help you recover a lost passphrase.
Let us know if you have any questions regarding passphrase, or anything else; we’re here to help!
Thank you @lucien, I got from you the answer I was looking for