A recovery phrase, also known as a seed phrase, is a sequence of 12 to 24 words generated by your cryptocurrency wallet. This phrase acts as a master key, granting access to all the crypto associated with that wallet. If you lose access to your wallet—due to device loss or failure—you can restore your funds on a new device by entering this recovery phrase. It’s crucial to store your recovery phrase securely and privately; anyone with access to it can control your assets, and if it’s lost, you may permanently lose access to your funds.