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All modern cryptocurrency wallets have protection against malicious actors. The recovery phrase stores information about the wallet, such combination consists of words in Latin characters and is called mnemonic. Let's examine the purpose and properties of this phrase.
Concept and Usage
Mnemonic phrase (seed phrase) — a set of specific words that provide users access to their cryptocurrency wallet. Most commonly consists of 12, 18, or 24 words in English. Some applications may call these words a recovery phrase or backup phrase. This method of wallet protection is considered very secure, as long as certain precautions are followed.
How to Use a Mnemonic Phrase
When first installing a crypto storage, the user is prompted to create a wallet. Then the application randomly generates a phrase and displays it on the screen. The wallet owner must:
- write down the phrase on paper;
- record it on a special device for storing mnemonic phrases — this option is better than a sheet of paper;
- hide it in a secure place — access to the phrase is equivalent to access to your coins.
Can a Mnemonic Phrase Be Recovered
It is impossible to recover the phrase. Guessing a mnemonic phrase is also not feasible. Recovery is only possible in one case — if one word out of 12 was not recorded or is poorly legible. Then you can use the mnemonic dictionary used for such phrases. A simple program will help identify matching checksums. This method can help some wallet owners who have found themselves in a difficult situation.
What Not to Do with a Mnemonic Phrase
The seed phrase should not:
- be stored as a screenshot or file on any gadget;
- be placed on a PC with an Internet connection;
- be written as abbreviations or synonyms — this is a clue for attackers, plus you might simply forget the meaning of the abbreviations;
- be stored only in your head — you shouldn't rely solely on memory.
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