On-Chain Trading 101
Essential Asset Security Guide
On-Chain Trading: Essential Security TipsBest Ways to Back Up Private Keys & Seed Phrases
Two-Step Guide to Prepare for On-Chain Trading
A Must-Read for Beginners!
On-Chain Trading Guide for Beginners
Where to Find On-Chain Opportunities
Three Modes of Trading
Advanced Trading Methods
On-Chain Trading 101

Best Ways to Back Up Private Keys & Seed Phrases#

Private keys and seed phrases are the only credentials that grant you control over your digital assets. If they are leaked or lost, the assets will face irreversible risks. Below are industry-proven secure backup methods and common pitfalls to help you avoid risks and protect your assets.

  1. Physical Backup: Basic Protection, Attention to Detail

    • Paper Backup: Write the seed phrase by hand on waterproof and fireproof paper, and store it in a safe or fireproof container. Avoid using ink that may fade, and it's recommended to use a metal engraving pen.
    • Metal Backup (Advanced Version): Engrave the seed phrase onto titanium alloy or stainless steel plates (e.g., Cobo Titan Safe). These materials can resist high temperatures, corrosion, and physical impact.

  2. Sharded Storage: Reducing Single Point Failure Risk

    • Sharding Technology: Use open-source tools to split the seed phrase into multiple parts (e.g., 5 parts where 3 are needed for recovery), and store them in different geographic locations (e.g., home safe, bank vault, trusted relatives).

  3. OKX Wallet Cloud Backup: Combining Encryption and Sharding Technologies

    • Multi-layer Encryption Mechanism: The private key is encrypted with AES-256, and combined with the PBKDF2 algorithm for key stretching to prevent brute-force attacks.
    • Sharded Storage: The encrypted data is split into multiple fragments and stored across independent servers. Even if some servers are compromised, the complete private key cannot be reconstructed.
    • Access Control: Supports dual authentication via biometrics (fingerprint/face recognition) and hardware keys (e.g., YubiKey) to prevent unauthorized access.

  4. Hardware Wallets: The Gold Standard for Offline Storage

    • Choose devices that have undergone security audits, where the private key is always stored within the chip and never exposed to the internet.

❌ Prohibited Actions#

  1. Digital Plaintext Storage

    • Phone/Cloud Storage: Avoid saving the seed phrase in phone notes, email drafts, or cloud documents (e.g., Google Docs). These channels are vulnerable to hacking or insider theft.
    • File Format Risks: Never save private keys in file formats like .xlsx or .txt, as these files are easily scanned and stolen by malicious programs.

  2. Image-based Transmission and Backup

    • Screenshots/Photos: Phone galleries can be accessed by malicious apps, and cloud sync features (e.g., iCloud) can widen the scope of exposure.
    • QR Code Storage: If a QR code is scanned by others or transmitted via public Wi-Fi, the private key will be directly exposed.

  3. Low Protection Physical Storage

    • Randomly Placing Paper: Unsealed paper backups may be exposed to water, fire, or captured by others. Always store them in a fireproof bag and keep the storage location hidden.
    • Single-location Backup: Storing all backups in one location (e.g., home safe) could result in total loss due to incidents like fire or theft.

🔑 Comprehensive Recommendations#

  1. Regular Checks: Verify the integrity of backups every quarter-year and update shard storage locations.
  2. Security Awareness: Always assume that online environments are insecure and maintain zero trust for "customer service" or "airdrop links" requesting private keys.

By following a scientific backup plan and strict operational protocols, the risk of private key leakage can be minimized. For more information on the security features of OKX Wallet, please visit the official help center.

Disclaimers#

This article is provided for informational purposes only. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets; or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Not all products are available in all regions. Please consult your legal/tax/investment professional for questions about your specific circumstances.

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