Knowledge Notes | Mnemonic Phrase
① A mnemonic phrase can derive the private keys for all accounts in a wallet. Knowing the phrase is equivalent to having control of the entire wallet.
② Decentralized wallets don’t have a “forgot password” feature. If you lose your mnemonic phrase and have no other backup, your assets are basically unrecoverable.
③ After backing it up, consider testing the recovery process with a small amount of crypto to make sure you copied it correctly.
$BTC 75933.63（-0.1%）
① A mnemonic phrase can derive the private keys for all accounts in a wallet. Knowing the phrase is equivalent to having control of the entire wallet.
② Decentralized wallets don’t have a “forgot password” feature. If you lose your mnemonic phrase and have no other backup, your assets are basically unrecoverable.
③ After backing it up, consider testing the recovery process with a small amount of crypto to make sure you copied it correctly.
$BTC 75933.63（-0.1%）