Want to learn crypto fundamentals? Welcome to Block by Block. This issue answers: What is a seed phrase?
What is a seed phrase?
A seed phrase, also known as a recovery seed or a secret private key phrase, is a sequence of 12-24 words you can use to restore a private key wallet.
Why is a seed phrase important?
Because it’s the only way to backup a crypto wallet. If you lose the phone, computer, or hardware device you use to access your crypto, you will need to enter your seed phrase elsewhere to restore your private key wallet and its contents.
What happens if I lose my seed phrase?
Initially, nothing. After all, you don’t need your seed phrase to access your funds; it’s a backup method to restore your funds. So, if you lose your physical device and your seed phrase, that’s when you can panic.
Does Blockchain.com know my seed phrase?
No, Blockchain.com does not know your seed and cannot recover it for you. In our Private Key Wallets for bitcoin, ether, and others, it’s “your keys, your crypto.”
Someone asked me for my Secret Private Key Phrase. Should I give it to them?
Not unless you are comfortable giving them all your crypto.
Someone from Blockchain.com asked me for my seed phrase.
Scammer alert! That person is not from Blockchain.com. You should stop messaging and report them.
How do I back up my wallet?
We were hoping you would ask! Read our step-by-step article for backing up your wallet.