What is a seed phrase and how to store it safely

A seed phrase, also called a recovery phrase or mnemonic, is a human-readable backup of a crypto wallet. Most wallets follow the BIP-39 standard: the phrase is 12 or 24 words chosen from a fixed list of 2,048 English words, with the last word containing a checksum. From the phrase, the wallet derives a master key and then individual private keys for each network and account (BIP-32 and BIP-44 describe this derivation).

This means one phrase restores everything: every address and every token in the wallet, on every supported network. If the phone is lost or the hardware wallet breaks, entering the phrase in a new wallet brings back access. It also means anyone who sees the phrase can take everything.

Not all wallets are compatible. A BIP-39 phrase usually works across major wallets, but derivation paths can differ, so an account may appear empty until the right path is chosen. Some TON wallets use their own 24-word scheme that is not compatible with BIP-39, so a phrase from one may not restore in another.

The most common ways people lose funds are social: fake support agents asking for the phrase, phishing sites that imitate wallets, “wallet validation” forms, and photos of the phrase synced to cloud storage. Other mistakes are keeping a single paper copy in one place and not telling anyone how to access funds in an emergency.

No payment service needs your seed phrase. Moonvex never asks for it: incoming payments are received at addresses managed by the service, and withdrawals go to the address you specify, confirmed by 2FA.

How to store a seed phrase

• write it down by hand on paper or metal
• never photograph it or store it in notes, email or cloud
• keep at least two copies in separate secure places
• never type it into a website or send it to “support”