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If you have bought or are going to buy cryptocurrencies there is a tip that is vital to know: write down and keep in a safe place the 12 or 24 words of security. Those words are what really make you the owner of the funds and what make you your own bank. Let us tell you in more detail what the security seed is.
The seed is an easy way to memorize and save your private key, in this way access to your crypto will be much more friendly without losing security over them.
To explain it better, I’m going to show you an example:
You just bought Ethereum with a credit card and downloaded a wallet app to send them and have full control of those funds. Once you are inside the app, you create a new wallet and the app asks you to safely write down 12 or 24 words in a specific order.
These words are considered the seed of security and you must take care of them as if they were your life, since in case of losing them you will not be able to access your funds in any way.
But why is there a security seed?
The private keys of a wallet have 52 random characters (between letters and numbers) which makes it very difficult to have to memorize or write everything down without having an error. That is why there are security seeds that are a friendlier way to preserve this data through 12/24 easy-to-write down words that some people remember by heart.
The sum of these words in the correct order is equivalent to your private key and with it you can access your funds when and where you want, even if you have lost the phone or the cold wallet where you keep your cryptos.
So if, as in the previous example, you are going to buy Ethereum with a credit card or you are going to buy any other cryptocurrency with another means of payment, you must write down and always keep your security seed under safekeeping. That, and nothing more than that, will make you the absolute owner of your funds.