How does BIP39 work? Is all the information in the seed?

U

uzair

Contributor
So a Jaxx wallet (for example) can have multiple wallets for different currencies (eg. BTC, ETH, BCC). However the backup phrase is 12 words (for Ledger hardware wallet, it's 24 words). Is all the information on all those wallets contained in those 12 words, or are those 12 words merely a password to retrieve that information from some server?

Thanks for your patience!

(I did google this before I came here, but all I could find is that BIP39 is 24 words from a 2048 word dictionary - but that doesn't explain to me where the information on the wallet is actually stored - inside the seed, or on a server, because it doesn't make sense to me that all the information of public and private keys associated with just a single address can somehow be stored in a 24 or 12 word phrase)
 
Old Man Crypto

Old Man Crypto

Expert chainblocker
Apologies for the terse response, but it really isn’t necessary to understand the technology to use it and benefit from it. Old man answe, I know but most people don’t know how a car works or an airplane flies and can still travel. I’d bet most don’t understand what a website or an app even is or how a bank password works if you want a financial example.

Just make sure you know the steps to take to keep your bitcoin safe. I don’t have a clue how most of this works, so I bought a Trezor.
 
You must log in or register to reply here.
Top