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BIP-32: Understanding Hierarchical Deterministic Wallets | Ledger

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Hierarchical deterministic wallets were introduced in Bitcoin Improvement Proposal 32 (BIP-32). But what are HD wallets?

BIP-32: Understanding Hierarchical Deterministic Wallets Jul 17, 2020 | Updated Apr 9, 2026 Read 3 min Expert SHARE KEY TAKEAWAYS: — Hierarchical Deterministic (HD) wallets allow you to manage a near infinite number of accounts with just one secret recovery phrase — HD wallets were introduced with the BIP-39 standard, and today they are the most popular type of wallet due to their convenience. — HD wallets let you back up your entire wallet in ease, plus, they also allow you to recover your original wallet on whichever HD wallet interface you choose. Crypto wallets are easy to use today, but t

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