#CryptoFees101 Generating a private key: the wallet first creates a 256-bit random number, which becomes your private key.

To simplify backup and storage, this private key is often converted into a recovery phrase (also known as a mnemonic code). This phrase consists of 12 or 24 English words. As long as the words are in the correct order, you can use them to fully recover your original private key and access all your assets in any wallet that supports the BIP-39 standard.

Losing this recovery phrase is essentially the same as losing your private key. If this happens, your assets cannot be recovered.