What is a recovery phrase?
A recovery phrase can be used to derive the private keys for all the addresses in a wallet. Whoever has the recovery phrase effectively has control of the entire wallet.
Self-custody wallets don’t have a “forgot password” feature. If you lose your recovery phrase and don’t have a backup, your assets are basically unrecoverable.
The most important thing to remember when managing your funds: write your recovery phrase down on paper and store it offline. Don’t take a screenshot or photo, and don’t save it to cloud storage.
$BTC 86231.5（+0.198%）
Just my personal opinion—not financial advice.
#BTC
A recovery phrase can be used to derive the private keys for all the addresses in a wallet. Whoever has the recovery phrase effectively has control of the entire wallet.
Self-custody wallets don’t have a “forgot password” feature. If you lose your recovery phrase and don’t have a backup, your assets are basically unrecoverable.
The most important thing to remember when managing your funds: write your recovery phrase down on paper and store it offline. Don’t take a screenshot or photo, and don’t save it to cloud storage.
$BTC 86231.5（+0.198%）
Just my personal opinion—not financial advice.
#BTC