![]() This puts people at risk, because once one of their passwords has been cracked, it’s easy for hackers to access other apps or accounts that belong to a user. Mypassword), reuse passwords between apps, or use very subtle variations of the same password (e.g. This means they use very simple passwords (e.g. Recovery phrases are more secure than human-generated passwords They’re not recorded by the company that makes or hosts the wallet, so there’s no central database that holds these sensitive phrases.They’re random, so they’re much harder to crack, even by powerful computers.They’re generated by the wallet app, not the user, so there’s no password reuse.Recovery phrases have several benefits over traditional passwords: Why do crypto wallets use recovery phrases? It must be typed in the exact order in which you receive it. Note: The ordering of the words in a recovery phrase matters. It must be typed in the exact order in which you receive it.*Ī recovery phrase is generally a list of 12 to 24 words randomly generated by your crypto wallet, and given in a specific order. The ordering of the words in a recovery phrase matters.Don’t keep a digital copy on your device-that means don’t take a screenshot, write it in your Notes app, or add it to a password manager, for example. Store it securely offline, like by writing it down on a piece of paper and locking it in a safe place. ![]() You will only see this phrase once during account setup and it’s important to keep it safe.This phrase allows you to sign transactions and claim ownership of your wallet addresses, recover your wallet if it gets lost or damaged (in case of hardware wallets), or if the device you use to access your wallet gets lost, stolen, or becomes otherwise inaccessible. What is a recovery phrase and how does it work?Ī recovery phrase (or “seed phrase”) is basically a human-readable form of your wallet’s private key-the unique, secret passcode used to authenticate and encrypt your wallet access. In this short article, we’ll define what a recovery phrase is, why and when such a phrase is used, and how best to store it. But in cases of lost password, stolen wallet, asset import, or syncing between wallets, something beyond a password or even multi-factor authentication is required.įor these cases, you’ll use a recovery phrase. So a robust method of identification is required to manage access.Īll crypto wallets use a standard username / password combination for day-to-day access. And all wallets-and the assets they hold-can be the target of fraud and theft. Crypto wallets are how we store and manage crypto assets and NFTs-and connect to DApps.
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