Your Seed Phrase or Recovery Phrase is your personal, super secret key to accessing your digital assets.
When you open up a brand new wallet, here’s what you’re going to do when it comes to that super-special-can’t-lose-it-or-reveal-it-seed/recovery phrase:
1. Write it down. Literally write it on a piece of paper.
2. Do not store it online or anywhere in your phone.
The more times the phrase is shown or saved on a screen, the easier it is for someone to find it.
This means anywhere digitally — Do not take a picture. Do not put it in Google Docs or Evernote. Do not save it in a password manager.
3. Store the physical copy of the seed/recovery phrase in a safe place only you know where to find it, and potentially with a backup or two elsewhere.
When using many wallets you are the ONLY person who has this phrase, so in most cases if you lose it, it’s gone. There is no such thing as a password reset here.
You may even consider storing different pieces of the phrase in different places to increase the level of security.
Keep it safe, and know where to find it.
4. Never, ever give the phrase to anyone.
The only time you should need to see your seed phrase at all is when it is generated for a new wallet or if you need to recover your existing wallet.
No one will need to ask for your phrase at any time. If they do, it is a scam.
Seed Phrase — Let’s review!
A Seed or Recovery Phrase is your personal, super secret key to accessing your digital assets.
You should never store this phrase digitally, and you should have a written copy (and maybe a backup or two) in a safe place only you can find.
Never, ever share your Seed/Recovery Phrase with anyone. No one. If someone asks, they want to steal your stuff. Big nope.
Remember that these are simply best practice suggestions and not a foolproof way to keep everything safe. Now that we’ve gotten the first (and most serious) security out of the way, you should feel (just a little) more confident in keeping your assets and wallet secure!