What is a seed phrase/private key?

Entering the Web3 world, assets are controlled by users. In this realm of infinite freedom and prosperity, there are also infinite dangers.

To protect the security of your wallet, the first step is to master two key terms: private key and seed phase.

Generally speaking, when we register a wallet account, the two concepts of private key and mnemonic phrase appear, and we also need to enter them when verifying personal identity. So, what are private keys and seed phase, and how to use them in OKX wallet? Let's briefly introduce:

• Private key

The private key itself is actually a string of numbers and uppercase and lowercase letters, with a length of about 64 bits. The length of private keys of different chains is generally different.In a blockchain transaction, the private key is used to generate the signatures necessary to pay for the currency to prove ownership of the funds.

If we compare a wallet to a bank card, then the wallet address is our bank card number. The address can be made public, as long as the password is not revealed, there is not much risk involved. The private key is the identity authentication of the wallet address, which is equivalent to the bank card number password.

Your control over the funds in your wallet depends on the ownership and control of the corresponding private keys. The private key must always be kept secret, because if it is disclosed to a third party, the assets under the protection of the private key are also lost.

The wallet address can be deduced through the private key. Controlling the private key is equivalent to controlling the wallet assets. No one will take the initiative to share the private key with you. If a stranger shares the private key with you, let you import it into the wallet or package it into other wallets. Please be wary of it.

At the same time, if the private key is in the wallet, you can view the private key through the backup wallet. However, if the wallet is deleted and the private key is lost or forgotten, it cannot be retrieved, and the corresponding assets in the private key cannot be retrieved, so it must be kept properly.

• Seed phase

As mentioned above, the private key is a string of numbers and letters, generally up to 64 characters long. This makes the private key seem very complicated and difficult to remember. Mnemonics are here for this. You can understand the mnemonic as another form of presentation of the private key.

Seed phase generally consist of 12 or 24 English words. As long as you remember these words and their order, and enter them in the wallet in order, you can restore the wallet and perform any operations.

Similarly, having the mnemonic is equivalent to owning the private key and controlling the wallet assets, and no one will take the initiative to share the mnemonic with you. If a stranger shares your mnemonic with you and asks you to import it into your wallet or package it into other words, please be vigilant.

Similarly, if the private key is in the wallet, you can view the mnemonic phrase through the backup wallet. However, if the wallet is deleted and the mnemonic is lost or forgotten, it cannot be retrieved, and the assets corresponding to the mnemonic cannot be retrieved, so it must be kept properly.

• How to use the private key and mnemonic words in the OKX wallet

If you have not created or imported a wallet in OKX Wallet,
First download the OKX official app, switch to [Web3 Wallet], click [Import Wallet], select [Seed Phrase] or [Private Key] and enter it, then go to the [Set Password] interface, enter the password and confirm, and the wallet is completed import.

If you have already created or imported a wallet in OKX Wallet and want to continue importing, click [▼], then click [Wallet Management], and select [Add Wallet]. Click [Import Wallet], and import the [Mnemonic Phrase] or [Private Key] according to the requirements and enter them to complete the wallet import.