— A private key and a recovery phrase: two closely related concepts that are central to crypto security.
— Both provide a vector for accessing your blockchain assets, but do so in different ways and have different vulnerabilities.
— Private keys in raw form are 256 digits long, making them impractical for storing, securing and transacting with. That’s why we have the humble crypto wallet to protect them!
— But what if you lose your crypto wallet? This is where your recovery phrase comes in. Unlike a private key, the seed phrase doesn’t just relate to one blockchain address, but all the addresses secured by the private keys in your wallet.
— Recovery phrases and private keys are two halves of the same whole, but need to be managed differently. Let’s take a closer look!