Let's talk about recovery phrases.
Self-custody wallets don't have a “forgot password” feature. If you lose your recovery phrase and haven't backed it up, your assets are basically impossible to recover.
One thing worth thinking about: it's helpful to think of the recovery phrase as the “master key” to your entire wallet. The private keys for every address are derived from it, so it's more important than any individual private key.
Write your recovery phrase on paper and store the copies separately. Don't take screenshots or store it in cloud storage.
Back to the market: $BTC is currently at 77624.06, up 0.84% over 24 hours.
#BTC
Personal notes. Make your own decisions about buying and selling.
Self-custody wallets don't have a “forgot password” feature. If you lose your recovery phrase and haven't backed it up, your assets are basically impossible to recover.
One thing worth thinking about: it's helpful to think of the recovery phrase as the “master key” to your entire wallet. The private keys for every address are derived from it, so it's more important than any individual private key.
Write your recovery phrase on paper and store the copies separately. Don't take screenshots or store it in cloud storage.
Back to the market: $BTC is currently at 77624.06, up 0.84% over 24 hours.
#BTC
Personal notes. Make your own decisions about buying and selling.