Why is crypto up today? Renewed bullish sentiment swept through Bitcoin options market following the Federal Reserve’s latest meeting. The Fed reaffirmed its stance on two rate cuts, with Jerome Powell brushing off tariff concerns as fleeting.
We’re so early into crypto that if this is a baseball game, we haven’t even reached the first inning. Crypto technology remains frustratingly obscure, and nowhere is this more obvious than with crypto wallets. They’re clunky, confusing, and demand better solutions.
Enter seed journals—a vital yet complicated tool for navigating this chaos.
Why Crypto Wallets Still Suck
Crypto wallets operate like relics from the Stone Age. You create one, and you’re handed a string of 12 to 24 random words called a seed phrase. This sequence is your lifeline to recover access, but its clunky design only underscores how far the tech still needs to go.
These words are created by the wallet automatically and can, hence, prove troublesome to remember, as there is no logic/reference to the words in the seed phrase.
Posting a meme every day until the year-end challenge:
Never share your seed phrase!
Don’t trust it, support will never ask for it! pic.twitter.com/8QonXRkOs3
— CRYPTOTAG | Seed Phrase Storage (@CRYPTO_TAG) December 1, 2023
The fix for crypto’s most embarrassing problem has been around for ages: seed journals. If you want to avoid becoming a cautionary tale of forgotten keys and locked wallets, you should start one now.
This is Why Storing Seed Phrases is So Important
Your seed phrase is the master key to your crypto wallet. No one else should have it, yet losing it means losing everything. Without it, a lost or deleted wallet spells permanent disaster for your funds.
We do what Quentin Tarantino does before he writes a movie. He famously said he buys a journal and says to himself “I’m going to write Kill Bill in this thing.” Do the same with your seed phrase.
It doesn’t need to be a fancy notebook, but instead of just taking screenshots and accidentally deleting them or writing your phrase on a random sheet of scrap paper – take five minutes to compile a journal. Some crazy investors even etch their phrases into metal!
Final Thoughts
Seed phrases don’t seem like much, but they could save thousands of dollars – or even millions – if you get locked out of your wallet. It doesn’t happen often, but it does happen.
Simply taking five minutes to buy a $2 notebook can save your life.
As soon as you finish this article, head over to your nearest Walmart/Target/Dollar Store and pick up a notebook. You’re welcome in advance!
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Key Takeaways
- Why is crypto up today? Renewed bullish sentiment swept through Bitcoin options market following Jerome Powell and the Fed rate cuts meeting.
- Seed phrases don’t seem like much, but they could save thousands of dollars – or even millions – if you get locked out of your wallet.
The post Why is Crypto Going Up Today and The Importance of Seed Journals appeared first on 99Bitcoins.