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The safest way for you to store your cryptocurrency is not on an exchange, but through a wallet where you have full control over the private keys of your funds. However, it does mean that you need to find a safe way to store the wallet recovery seed, which is the ultimate failsafe for your funds. So what are the options for how to store crypto wallet seeds?
When you set up a non-custodial wallet, where you control the private keys of the funds in question, you will need to record something called a recovery seed or recovery phrase.
A seed is a so-called mnemonic, a collection of memorable words. If you lose access to your wallet for any reason, you can think of it as an extended password generated by a non-custodial wallet as a way to recover all your funds.
You don’t need a seed to access a wallet on a regular basis, whether it’s an app, browser extension, or hardware device. On a day-to-day basis, you’ll be using more traditional credentials to access your wallet, such as passwords or biometrics, so the seed is something that’s rarely (if ever) needed, but still very important.
