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Recovery phrase
A recovery phrase, often referred to as a seed phrase, mnemonic phrase, or backup phrase, is an important part of crypto wallets that employ hierarchical deterministic (HD) wallet technology. When a wallet is lost, damaged, or the device fails, this backup string of letters and numbers can be used to regain access to the wallet and retrieve cash.
Users are often given a recovery phrase made up of 12, 18, or 24 randomly generated words when setting up an HD wallet. These words are carefully chosen from the BIP39 word list, a preset list of 2048 distinct words. Each word represents a certain number in the mathematical equation that underpins the cryptographic processes of the wallet.