Creating, securing and recovering Cryptocurrency accounts has become an urgent priority – but the complexity and risk is just too great for most people to feel comfortable!
A "Hardware Wallet" is the right solution (such as the Trezor Safe 3 or Ledger Nano), but how do you securely backup and save the 12- or 24-word BIP-39 Mnemonic Phrase used to recover your Cryptocurrency accounts? If it is lost or exposed just once in the next 20-40 years, your heirs will not see their Cryptocurrency inheritance!
Well, now you can safely create, secure and fund your own personal Cryptocurrency accounts, and protect them from theft and loss by backing up your accounts' "Seed" BIP-39 Mnemonic Phrase using the SLIP-39 standard, based on "Shamir's Secret Sharing Scheme".
Background
I've been in the Cryptocurrency field for 20+ years (yes, many years before Bitcoin… 8/ ), and I had the idea to create a little Cryptocurrency account for a gift exchange. This is when I discovered just how challenging it was for "normal" people to do this safely and securely.
So, I wrote the Python python-slip39 package, and the macOS/Windows SLIP-39 App.
Create your Cryptocurrency account, and securely back it up by distributing some "Groups" of Mnemonic "Cards" to a few safe places, and to some family and friends. Instructions are built right into the App to guide you in configuring your SLIP-39 Mnemonics to satisfy your unique Security and Reliability requirements.
Security
If you ever lose access to your account, only you can recover sufficient "Groups" of Mnemonic "Cards" to recover the account. Even if some "Group" tries to collude against you, they cannot gain access to your account.
You have total control over the size of each "Group", the number of "Cards" needed to recover the "Group", and the threshold of "Groups" needed to recover your account.
Reliability
With a typical SLIP-39 configuration, you would have to lose access to most of the Cards to lose the ability to recover your account.
BIP-39
Compare this with the typical BIP-39 Mnemonic account backup: just one mistake, and all of your accounts are lost forever, or instantly stolen!
You can even convert your existing BIP-39 backup to a much more robust SLIP-39 backup, while retaining all of your existing Cryptocurrency wallets, if you wish.