What is a seed phrase, and why is it important?

It’s crucial to securely back up and store your seed phrase in multiple safe places, ensuring that you’re the only one who can access it when needed.

A seed phrase (also known as a wallet recovery phrase, mnemonic phrase or cryptocurrency seed phrase) is a series of 12 to 24 words generated by your cryptocurrency wallet. 

Why is the seed phrase important? These words are used to derive your private keys, allowing access to your cryptocurrency holdings. The importance of a seed phrase cannot be overstated — it is essentially the key to your digital fortune.

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