Bitcoin Will be Lost if You FORGET The Secret Code
One way to store Bitcoin is with a Decentralize wallet and a CEX wallet. When you store your crypto assets in a CEX wallet, you don’t need to worry about the 12–24 secret words to access the wallet. This is because you only need to use your email and phone number to access the CEX wallet. It’s different when you store your crypto assets in a Decentralize wallet like Metamask and ledger.
You have to save the 12–24 secret words to access the Decentralize wallet and . If you forget them, you will lose all your crypto assets
TREZOR, one of the companies that produces Ledger wallets (decentralized physical wallets), has recently introduced an innovative product that is slimmer and more flexible. However, despite being more flexible, it still requires storing the 12–24 secret codes to access the wallet in case they are lost.
Why don’t crypto-based companies innovate by creating a wallet with two asset restore features?
- First, the 12–24 secret codes for wallet access
- Second being human biometrics like retina and fingerprint recognition on a Ledger wallet. Such innovation would undoubtedly make it easier for users to access their wallets and reduce the risk of user errors.
$Worldcoin is one of the project based on human data privacy. I think it would be great collaboration if TREZOR and WORLDCOIN make Ledger wallet with 2 restore feature. Although the price for such a wallet might be slightly higher than a regular Ledger wallet
