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Topic: Finger print alternative way to private keys for Bitcoin Wallet recovery. - page 2. (Read 278 times)

legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
Adding finger print as alternative way to private keys or
seed phrase for Bitcoin Wallet recovery is something to consider.
Absolutely not recommendable, not even advisable for password alternative not to talk of seed phrase or private key recovery.

Backup your seed phrase in different locations and keep it safe. If you think you are not secure enough with your seed phrase, then you can add passphrase while generating the wallet. Then backup your seed phrase and passphrase differently in different locations.

With passphrase added, new keys and addresses are generated instead of the one that would have been generated with only the use of seed phrase. Note that you need passphrase along with seed phrase for recovery if you add passphrase while generating the wallet.

The idea of using fingerprint to access private key is highly not a good idea.
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
Are we going to live with such condition that whomever lost access to his keys has forever loose the wallet?
Well, shouldn't he?

Isn't there gonna be alternative way to restoring our private keys?
If you have the seed phrase, you can restore the private keys. That's the purpose of it after all. If you don't have the required passphrase/key/phrase to restore your coins, they're simply gone.

Try thinking this in real life. If you lost access to your dollar bill, say it fell in an open sewer and got destroyed; would you be able to restore it? No, it's gone, removed from circulation. Period.

So I suggest that adding a layer two security in the BTC wallet by integrating biometric finger print as alternative way to gaining access to every Bitcoin wallet is an Ideal one .
This could be used as a password to access the wallet, but not to restore keys with it. Keys have accuracy. The machine that scans your finger doesn't have to detect the same result, it just has to approach it.
legendary
Activity: 2114
Merit: 2248
Playgram - The Telegram Casino
Adding biometrics as a means to access your private keys is a very bad idea. We literally leave our finger prints on thousands of surfaces regularly and these could be scanned and extracted.
When you consider that crypto is designed to be pseudo anonymous, linking your biometric data is counter productive.

2 Isn't there gonna be alternative way to restoring our private keys?
There is; Backing up your private keys in multiple safe locations, so you have more than one point of security.

Nowadays, Biometric finger print  has been seen as one of the most secured and trusted means of identitification and security,
Since no one's finger print is identical.
They are not. Biometrics are simply convenient, reason why they are so popular.
Most secure means of identification? Not at all.
staff
Activity: 3500
Merit: 6152
Don't you think that this would make things worst and not better since it would allow other people to fake your fingerprint and steal your funds? Fingerprint readers are not as secure as you think they are.

And to answer your first question, I think people should become better at taking the necessary precautions (keep the seed offline, use steel instead of paper, keep multiple copies, etc.)
hero member
Activity: 966
Merit: 588
Adding finger print as alternative way to private keys or
seed phrase for Bitcoin Wallet recovery is something to consider.

During 2020 I have a  friend who had 1.372 BTC he purchased in 2017 at the price of $750 per btc
 in  a wallet he lost access to the keys during 2020 ATH.and he was unable to recover the funds.

This senario brought me two to questions?

1 Are we going to live with such condition that whomever lost access to his keys has forever loose the wallet?

2 Isn't there gonna be alternative way to restoring our private keys?

Too, The fact that if someone gets access to these private keys or seed phrases has gained total control to that wallet is also worrisome,

So I suggest that adding a layer two security in the BTC wallet by integrating biometric finger print as alternative way to gaining access to every Bitcoin wallet is an Ideal one .
This will save people the stress or risk involved when trying to secure their keys ,because some people spend money to protect and secure their funds for instance....

 By using various types cold storage wallet like, Trezor, ledger Nano wallet or other types of vault storage wallets which cost them some amount of money to purchase.


Nowadays, Biometric finger print  has been seen as one of the most secured and trusted means of identitification and security,
Since no one's finger print is identical.

To conclude.
I  think  that with the integration of biometric finger print as  two layer security and alternative means for Bitcoin wallet recovery,
will help people and save us the risk involved with loosing our keys.
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