Does Binance provide seed phrase?
You will now see your Binance Chain Wallet seed phrase, which you can use to recover your account. You also have the option to create your own seed phrase. Altogether, the phrase should contain 12, 15, 18, 21, or 24 words. You should never share your seed phrase with anyone.
Binance Security Features
Trust Wallet secures your assets with a PIN, biometric access, encrypted key as well as a 12-word recovery phrase.
Under Account, click Backup My Wallet. 3. Click the eye icon* at the bottom to view your 12 words (seed phrase).
Your Binance account has a security feature called Address Management. It allows you to limit the wallet addresses that you can withdraw funds to. If you turn this on, each newly added address will require an email confirmation to be added to the whitelist.
A recovery phrase is usually generated from a specific list of 2,048 words. That means that your 12-word seed phrase has an iteration of 2,048 words. Therefore, it's almost impossible that someone could successfully guess your seed phrase.
Binance has been mostly safe for people's information and funds, and the fact that they covered the losses themselves says a lot about them. On top of that, according to Zhao, the transaction was only around 2% of the total Bitcoin holdings of Binance. They ordered a “thorough security review” as well.
Coinbase: Security. Although both platforms are considered secure, Coinbase has a better overall reputation.
Coinbase Wallet generates a 12-word recovery phrase, also referred to as a seed phrase, that you and only you have access to. This means that if you lose your recovery phrase, you will lose access to your Coinbase Wallet.
Coinbase Wallet, from the popular Coinbase exchange, is probably the best bet for beginners, experts say. It's simple, supports thousands of cryptos, and is also noncustodial, meaning you maintain control over your private keys.
- Send your coins to an exchange of your choosing.
- Ensure that you see your coins in your exchange account completely transfer over.
- Reset your wallet device.
- Proceed to create a new wallet on the same device and generate a new seed.
How do I get my money back from Binance?
- Log into your account.
- Select Withdraw.
- Click on the Fiat tab.
- Pick the fiat currency.
- Enter the details that the page requires.
- Check the transaction details.
- Enter your verification code.
Sign in to your Binance account and select the Wallet tab. Select Fiat and Spot then choose the currency you wish to withdraw. Choose Bank Card (Visa). Enter the amount of money you want to withdraw in the Amount field.
- Select the account you'd like to export.
- On the Account page, click on the menu (three dots) and Click “Export Private Key”
- Your private key is revealed. Click to copy it, and save if somewhere safe.
- Click “Close” to close the screen.
Coinbase Wallet generates a 12-word recovery phrase, also referred to as a seed phrase, that you and only you have access to. This means that if you lose your recovery phrase, you will lose access to your Coinbase Wallet.
- Send your coins to an exchange of your choosing.
- Ensure that you see your coins in your exchange account completely transfer over.
- Reset your wallet device.
- Proceed to create a new wallet on the same device and generate a new seed.
The process of generating a seed phrase starts with generating random data, called entropy. The entropy is then run through a hashing function, specifically SHA256, to generate the checksum. Part of the checksum is then appended to the random data.
