Seed Phrase or Seed Recovery Phrase is a group of words used as a backup to recover or restore cryptocurrency wallet. It is generated for the first time when creating a new wallet and must be written down and stored in a secure place by the user, as it cannot be retrieved once lost.
A seed phrase typically consists of 12 (or 24) random words taken from a dictionary. These words are used to generate what is known as the private key, which allows access to all funds associated with that particular wallet address. The seed phrase can also be referred to as mnemonic code, mnemonic recovery phrase or simply backup phrases.
It’s important to note that this seed phrase should never be shared with anyone since it gives them full access over your funds if they get their hands on it. In addition, you should always store your paper copy in multiple places and make sure no one else has physical access to your seed phrase at any point in time. Lastly, make sure you transfer any assets out of an old address before recovering using your seed phrase into another address, otherwise those assets will not show up after the recovery process and will become inaccessible forever!
