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What is a private key or seed phrase?

The seed phrase is a set of 12 to 24 words with the intention to provide an easy and simple way to back up our cryptocurrency wallet. In this way, if for any reason we lose control over the wallet, we could recover it just by using these words in the order they were originally given to us.

So in case of breakdown, theft or loss of the smartphone or computer, we can use the seed phrase and recover our wallet from another device. By accessing the addresses associated with our wallet we also access the funds available in it. We may say that the seed phrases are a type of encryption of the private keys of our wallet but in much more friendly and manageable way.

For more information we recommend you to read our article in Bit2Me Academy.



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