Introducing the Crypto Minute, crypto fundamentals delivered in 60 seconds |
Blockchain.com | The world's most popular way to buy, sell, and trade crypto | Trusted by millions since 2011 with over $800 Billion in crypto transactions. |
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| | | 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? No. 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. | | | | | Was this email helpful? 👍 👎 | | | | | | © 2022 Blockchain.com Group Holdings, Inc. This is an agreement between one of Blockchain Access (Ireland) Limited, Blockchain (UAB), LT, Blockchain.com, Inc., Blockchain.com (BVI) Limited and Blockchain.com (BVI) III Limited ("Blockchain.com", "we", "us", or "our") and you (together with Blockchain.com, the "Parties" and each a "Party"). By using any Blockchain.com service, whether through www.blockchain.com, any associated website, API, or mobile application, you agree that you have read, understood, and accept all of the terms and conditions contained herein (the "User Agreement"), as well as our Privacy Policy available at blockchain.com/legal, Cookie Policy, available at blockchain.com/cookies, API Agreement, available at blockchain.com/legal/api-terms and Trading Principles, located at exchange.blockchain.com/legal. Important Note
Crypto is a high-risk investment. The value of crypto can fluctuate and investors may lose the capital they invest.
Digital currencies are not bank deposits, are not legal tender, are not backed by the government, and accounts and value balances. Blockchain.com's products and services are not subject to the US Federal Deposit Insurance Corporation or Securities Investor Protection Corporation, or any other non-US governmental or government-backed protections. Legislative and regulatory changes or actions in any jurisdiction in which Blockchain.com's customers are located may adversely affect the use, transfer, exchange, and value of digital currencies. | | | | | |
