While the market is relatively quiet, let’s go over some basics.
What is a recovery phrase?
With a decentralized wallet, there’s no such thing as “forgot password.” If you lose your recovery phrase and don’t have a backup, your assets can’t be recovered.
Think of the recovery phrase as the wallet’s “master key”: the private keys for all its addresses are derived from it, so it’s more important than any individual private key.
$BTC is currently 75951.79.
Does that make sense? Let me know if anything is unclear.
What is a recovery phrase?
With a decentralized wallet, there’s no such thing as “forgot password.” If you lose your recovery phrase and don’t have a backup, your assets can’t be recovered.
Think of the recovery phrase as the wallet’s “master key”: the private keys for all its addresses are derived from it, so it’s more important than any individual private key.
$BTC is currently 75951.79.
Does that make sense? Let me know if anything is unclear.
