BitClout is a new social network that uses a seed phrase as your account login and and your cryptocurrency wallet. If you lose the seed phrase, you will lose all your coins and the ability to login to your account ever again.
When you create a BitClout account, your seed phrase is pre-generated for you by BitClout. However, you can replace it with your own custom seed phrase.
You will need to back up your seed phrase straight away. Since the seed phrase represents not only your account but also the balances in your BitClout Wallet, you will need to robustly and securely store it.
In addition to the usual techniques of backing up a seed phrase, you can securely store your seed phrase in a Digital Vault.
Welcome to BitClout Security
BitClout is a new social network, built entirely on the blockchain, that enables you to speculate on people and their posts. The BitClout blockchain uses its own native cryptocurrency, called BitClout, which is used to operate the platform and purchase creator coins. Bitcoin, BitClout, and Creator coins are all stored in the BitClout wallet.
To secure your account, which represents your own reputation, your balance of BitClout coins, and the collection of all creator coins that you have invested in, a seed phrase is used. Unlike crypto wallets that often "hide" the seed phrase in their apps to make the experience of using the wallet "simpler", BitClout makes you use the seed phrase to directly log in to the platform, and in fact to log out.
Seed phrase required to logout
Your seed phrase represents not only the credentials to your account, but also becomes the only way to manage your reputation and to manage your balances. You must back up your seed phrase to use BitClout and you must protect your seed phrase otherwise a 3rd party will be able to access your account.
BitClout gives you two ways to specify a seed phrase based on the BIP39 standard:
Default - Pre-generated seed phrase that appears when you first log in.
Advanced - Create your own custom BIP39 seed phrase. By using alternate techniques to generate your seed phrase you can better control your security risk.
Let's see how you can set up your security robustly:
Log in with your seed phrase
How to back up your BitClout Seed Phrase?
When you first create or retrieve your BitClout account, you are immediately presented with your seed phrase and asked to store it. As with crypto wallets, the default is to write it down on paper, be warned this is not a good long-term approach due to the risks associated with paper backups.
The more advanced option, when you first create a BitClout account is to generate your own BIP39 seed phrase. Why would you generate a seed phrase externally? Because relying on software to generate a seed phrase means relying on someone else's interpretation and implementation of security concepts such as entropy and randomness that are critical to establishing non-replicable or non-derivable seed phrases. Using techniques that are completely offline like dice, will always give you a more robust security posture than relying on an electronic or software-based approach.
Here are some common ways in which seed phrases can be generated.
A Digital Vault has the advantage of being focused on a singular purpose - that of securely storing digital assets for long-term use. While there are many types of digital vaults available for cryptocurrency storage, it is better to use something that is independent of anyone's blockchain and can store any type of digital asset.
Vault12 Digital Inheritance is the first solution to offer a simple, direct, and secure way to ensure cryptocurrency, NFTs and other digital assets can be accessed by future generations.
Digital Inheritance enables investors to designate an individual who will inherit their entire portfolio of digital assets stored in a secure Vault once the time comes, eliminating undue risk and the need to continually update an inventory or continually issue updated instructions which can result in privacy leakage.
Designed to be used alongside traditional hardware, software and online wallets, Vault12 helps cryptocurrency owners, professional cryptocurrency traders, and high net worth investors safeguard their digital assets without storing anything in the cloud or in fact any one single location. This increases the protection and decreases the risks of loss.
The Vault12 app helps you recover, back up, and provide legacy inheritance for all your digital assets, including Bitcoin, Ethereum, NFTs, other cryptocurrencies, secrets like keys, seed phrases, PIN codes, digital art, and of course, your crypto wallets.
As a creator you can use Vault12 to safeguard not just your NFT and crypto wallets, but also original digital artwork. Project creators will always have to deal with multiple wallets - inventory, treasury as well as future royalty wallets.
Vault12 safeguards your project assets, increasing protection and decreasing the risks of loss, whilst ensuring that everything is ready to go to be passed onto future generations, when the need arises.
Whether your digital art is suitable for a phone, or represents much higher resolution multimedia, make sure that you have backed up a copy in case the resource link is disrupted in the future. Digital art can easily be added to the Vault either via the mobile app or via the desktop utility. Once you have stored your artwork in your Vault, it will also benefit from inheritance once you set that up in your app.
Step-by-step guides for setting up your digital Vault and adding assets, recovering assets, and recovering Vaults. Vault12 crypto security helps you recover, back up, and inherit all assets stored in your Vault including Bitcoin, Ethereum, crypto, private keys, seed phrases, wallets, NFTs and digital art.
With the latest release of Vault12, now available in both iOS App Store and Google Play we have streamlined how you can use VGT to upgrade your Vault or fund your Vault for future. Right now there is a 50% discount on all plans if you fund your Vault with VGT.