Introducing the Bitcoin New Tool: Rainbow Storage
One of the challenges crypto investors face is the issue of asset loss. Scammers can steal users’ assets by accessing their private keys, and governments can seize crypto assets for various reasons. However, a new Bitcoin tool called “BIP39Colors” is set to change all that. With this tool, users can store their coins in a rainbow, making it difficult for third parties to access them.
How Does BIP39Colors Work?
- The open-source tool converts a user’s BIP39 mnemonic phrase into diverse colors.
- Users can use a calculator to decode their BIP39 colors back to their mnemonic phrase.
- Python and Javascript libraries are currently available, with a manual method soon to be released.
- You will no longer need to depend on any tool to recover your original mnemonic.
Why Use BIP39Colors?
Previously, crypto investors used the BIP39 standard to generate a seed phrase for their Bitcoin Wallet. However, storing this phrase on paper is obvious to hackers. BIP39Colors offers a more secure solution by storing the key phrase as a color palette or within various objects. For example, you can give one color to your mother, another inside your website, and another written in a web design book. In the future, you can recover your seed from these agnostic colors.
Final Thoughts: Enhanced Security and Convenience
The introduction of BIP39Colors provides crypto investors with enhanced security and convenience when it comes to storing their assets. By using colors instead of traditional word and alphanumeric characters as private keys, users can make it significantly more difficult for scammers and hackers to access their coins. This new tool offers a unique and innovative approach to safeguarding crypto assets, ensuring that users have greater control and peace of mind.