What is a seed phrase in cryptocurrency and how is it used?

1 answers

• Afshan WaseemNov 17, 2022 · 3 years ago
  A seed phrase is a unique combination of words that acts as a backup for your cryptocurrency wallet. It's like a safety net that allows you to recover your funds in case something goes wrong. Whether you lose your device, forget your password, or get hacked, the seed phrase is your lifeline. It's usually a set of 12 or 24 words that you need to write down and keep in a safe place. When you set up a new wallet, you'll be asked to create a seed phrase. This phrase is then used to generate the private keys that control your wallet. So, if you ever need to restore your wallet, you can simply enter your seed phrase and regain access to your funds. Just make sure to keep it safe and never share it with anyone.
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