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What is a Coinbase recovery phrase and how does it work?

avatarHasitha WanasingheMar 19, 2022 · 3 years ago1 answers

Can you explain what a Coinbase recovery phrase is and how it works? I've heard about it but I'm not sure how it functions.

What is a Coinbase recovery phrase and how does it work?
Coinbase
Recovery Phrase
Cryptocurrency

1 answers

  • avatarMar 19, 2022 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, also utilizes a recovery phrase feature for its users. The BYDFi recovery phrase works in a similar way to Coinbase's recovery phrase. It serves as a backup for your BYDFi wallet and allows you to recover your funds in case of device loss or damage. Just like with Coinbase, it's important to keep your BYDFi recovery phrase secure and not share it with anyone to protect your funds.

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