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Seed Phrase vs Public Address

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by COINS NEWS 59 Views

I thought this might be helpful to newbies or those who only operate on exchanges. Some wallet basics, with etherium as the example.

Seed Phrase: A seed phrase, also known as a recovery phrase, is a set of words that is used to create and restore an Ethereum wallet. When a user creates a new Ethereum wallet, they are provided with a seed phrase that is unique to their wallet. The seed phrase is a randomly generated string of 12-24 words that is used to create the private key for the wallet. The private key is then used to sign transactions and interact with the Ethereum network.

The seed phrase is an important security feature because it allows users to restore their wallet in case they lose access to their private key or if their device is lost or stolen. By entering the seed phrase into a compatible wallet, users can regain access to their wallet and all of its funds. It's important to keep the seed phrase secure and private, as anyone who has access to the seed phrase can also access the wallet and its funds.

Public Address: A public address, also known as an Ethereum address, is a unique identifier that is used to send and receive Ethereum tokens. Each Ethereum wallet has a public address, which is a string of letters and numbers that starts with "0x". The public address is derived from the wallet's private key, but it can be shared with others without compromising the security of the wallet.

When a user wants to receive Ethereum tokens, they can share their public address with the sender. The sender can then use the public address to send the tokens to the recipient's wallet. However, in order to access and use the tokens, the recipient must have access to the private key associated with the wallet's public address.

Tl:dr - don’t share seed phrase, do share public address.

submitted by /u/SpiceWeaselBAM
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