Home Forums coins Other Coins [SPA] SPARTA knockoff– A Proof-of-Stake Cryptocurrency. Simple. Fast. Reliable. Reply To: [SPA] SPARTA knockoff– A Proof-of-Stake Cryptocurrency. Simple. Fast. Reliable.


Mnemonic Phrase is Safer Than the Most Complicated Passwords!

A mnemonic phrase will secure your SPARTA wallet against attacks. It’s a lot safer than the most complicated password even if the latter is combined with additional protection measures: 2FA, SMS code, e-mail verification, etc. A mnemonic phrase is generated within the SPARTA network as a set of random English words.

What are the advantages of a mnemonic phrase?

A mnemonic phrase is not linked to your e-mail unlike your account on a cryptocurrency exchange, for instance. It’s a huge advantage. Statistically, 93% of account attacks on exchanges are directly related to attacks e-mails these accounts are linked to. In other words, a hacker first attacks your e-mail (which is not so hard for them) and then pulls off recovery of an allegedly forgotten password for your account on an exchange. As a result, they can access your account freely and take possession of all your hard-earned money.

A mnemonic phrase does not requires use of additional protection services and methods which is also a huge advantage even though it might seem counterintuitive at first sight. It would seem additional protection couldn’t be a threat to safety. Surprisingly, it can since any security service has its vulnerabilities. For instance, you might use two factor authentication via your mobile phone to access your account and rest assured thieves could never get hold of your funds. However, your phone might be stolen and, consequently, your account on an exchange or in an online banking system might be hacked. There has been a lot of such cases, but right now we don’t want to go into too much detail about the procedures used by criminals — you can read about this online. Anyway, the fact remains.

A mnemonic phrase is completely independent of all other protection means — this is exactly why it’s unique in ensuring safety.

Hackers will never be able to access your wallet without knowing the phrase. Therefore, you should note it down on a sheet of paper and store it somewhere safe or, still better, memorize it.

You must make sure you store the entire phrase: no words from the phrase must be seen by those interested, not even as a nonsensical collection of words containing words added by you.

For your convenience, you can also store your phrase on a sheet of paper, a separate medium or a computer with no Internet access, for hackers to be unable to access it. You must also make sure you store at least one copy of your mnemonic phrase so that you could access your wallet if you lose the physical medium, the sheet of paper, etc. To maximize security, you must also memorize the phrase.

To create a SPARTA wallet: https://wallet.sparta.top/

Buy/Sell SPARTA https://sparta.top/exchange.html

Subscribe to our accounts in the social networks and read our articles:

Facebook — https://www.facebook.com/Sparta-Simple-Fast-Reliable-144359956205380/
Twitter — https://twitter.com/SPARTA_core
Telegram — https://t.me/SPARTAcore
Reddit — https://www.reddit.com/r/altcoin/comments/7ek8bd/spa_sparta_a_proofofstake_cryptocurrency_simple/
Medium — https://medium.com/@SPARTAcore
Instagram — https://www.instagram.com/sparta.top/