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Mnemonic Phrase
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What does Mnemonic Phrase mean in crypto terms?
A Mnemonic Phrase, also known as a seed phrase or recovery phrase, is a list of words which store all the information needed to recover a cryptocurrency wallet. This phrase is generated when a new wallet is created and can be used to restore access to the wallet from any compatible software, making it a critical component for securing and recovering digital assets. The phrase typically consists of 12, 18, or 24 words, and it is crucial that it is kept secret and secure, as anyone with access to it can control the assets in the wallet. Additionally, losing the mnemonic phrase can result in the irreversible loss of funds.
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