Keys and standards
Ownbit follows the open Bitcoin Improvement Proposal standards — BIP39 for the seed phrase, BIP32 for key derivation, and BIP44 for account paths. Standards matter because they keep your seed portable and your recovery predictable.
Seed phrase, private key and address
- Seed phrase (mnemonic) — 12 or 24 words (BIP39) that encode the master secret. Whoever holds these words controls the funds.
- Private key — derived from the seed; used to sign transactions. Ownbit derives it only when needed.
- Public key / address — derived from the private key; safe to share so others can send you funds.
Why standards-based derivation matters
Because Ownbit uses BIP32/39/44 rather than a proprietary algorithm, a standard mnemonic derives the same addresses in Ownbit as in other mainstream wallets. That means no vendor lock-in: you are never trapped in one app to reach your money. You can verify this yourself — generate a seed with an external tool and confirm Ownbit imports it and derives the same addresses.
How the seed is protected
The mnemonic is stored encrypted on your device and is never uploaded. The strength of any seed ultimately depends on the quality of the randomness used to generate it — historically, many thefts trace back to weak randomness rather than broken cryptography. If you want maximum control over that, generate the seed offline with an independent tool and import it.
Common derivation paths
Ownbit uses standard derivation paths, so the same seed reaches the same addresses in other mainstream wallets. The most common paths:
| Chain | Path | Compatible with |
|---|---|---|
| BTC (Legacy / SegWit / Native) | BIP44 / BIP49 / BIP84 (m/44'/0'… , m/49'… , m/84'…) | Address types 1 / 3 / bc1 |
| ETH / ERC20 / BSC | m/44'/60'/0'/0 (coinType 60) | Most Ethereum wallets |
| TRX / TRC20 | m/44'/195'/0'/0 | imToken, Trust Wallet, TronLink |
| SOL / SPL | m/44'/501'/0'/0' | Phantom, Sollet, TokenPocket |
Frequently asked questions
What is a BIP39 seed phrase?
A BIP39 seed phrase is a list of 12 or 24 words that encodes your wallet's master secret. Ownbit uses standard BIP39, so the phrase is portable to other compatible wallets.
Can I import a seed from another wallet?
Yes for standard wallets. Ownbit follows BIP32/39/44, so a standard mnemonic from another wallet imports and derives the same addresses.
Does Ownbit use a custom derivation path?
No — Ownbit uses standard paths. ETH/ERC20/BSC use m/44'/60'/0'/0 (coinType 60); TRX/TRC20 use m/44'/195'/0'/0 (matching imToken, Trust Wallet, TronLink); SOL/SPL use m/44'/501'/0'/0' (matching Phantom, Sollet, TokenPocket); BTC uses BIP44/49/84 for its three address types. So your seed is portable to those wallets.
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