What is a Seed Phrase? (in 60 seconds)

A seed phrase, recovery phrase is a 12, 18, or 24 word phrase that is used to recover access to a crypto wallet. Generally the wallet spits out the phrase and requires the user to write it down and later validate the phrase during wallet setup. If this set of words is lost, the entire balance of the wallet is rendered unrecoverable (some instances exchanges can reset accounts with ID verifications).