common-close-0
BYDFi
Trade wherever you are!

What is a ledger recovery phrase and how does it relate to cryptocurrencies?

avatarmiral yaseenFeb 17, 2022 · 3 years ago1 answers

Can you explain what a ledger recovery phrase is and how it is connected to cryptocurrencies?

What is a ledger recovery phrase and how does it relate to cryptocurrencies?
Ledger Recovery Phrase
Cryptocurrencies
Digital Assets

1 answers

  • avatarFeb 17, 2022 · 3 years ago
    A ledger recovery phrase, also known as a seed phrase or mnemonic phrase, is a set of words that serves as a backup for a cryptocurrency wallet. It is usually composed of 12 to 24 words in a specific order. This recovery phrase is used to restore access to the wallet in case the original wallet is lost, stolen, or damaged. It is a crucial security feature that ensures the safety of your digital assets. Make sure to keep your recovery phrase in a secure place and never share it with anyone.

Related questions

common-arrow-bottom-0Load 5 more related questions
common-search-0

Related Tags

Hot Questions