🧐 Hardware Wallet Security | Why it is essential to set and remember your hardware password — [Password recovery, contact via private message]

🧐 Hardware Wallet Security | Why it is essential to set and remember your hardware password —

[Password recovery, contact via private message!]

Some netizens say that having a mnemonic phrase is enough, and there's no need to remember the password. This is true for general mobile hot wallets, but it doesn't apply to certain software wallets and most hardware wallets.

Because when using the BIP39 standard to generate a seed from the mnemonic phrase, these wallets require a password to generate the correct address. Without the password, you cannot obtain the correct address. Such as Ledger, Bitcoin Core Wallet, Trezor's private wallet, and SafeWallet with a password.

This method increases security; even if you leak your mnemonic phrase, it's okay as long as the password is complex enough. Hackers will find it difficult to brute-force the password using the mnemonic phrase. However, if you forget the password, it will also be hard to recover.