For those who don’t know it, when you create a wallet and asked to save the seed phrase words, this very seed phrase words could be used on other chains too, to import that initial existing wallet already created.
So, instead of having thousands of different wallets each with different seed phrases words, you can just select the option to import existing seed phrase on the chain you’re accessing and using the same first seed phrase, you will be able to import the already existing wallet on this chain.
Before you ask: **No, it won’t delete or overwrite your existing holdings.** If you’re importing it on a different chain having same chain network, it will load your existing holdings. If it’s not a compatible chain, it will just use the same seed phrase words to create a new wallet on the chain still not deleting your existing data on the other chains.
*Hence why your seed phrase words are coined your private key; with the ability to be used as “keys” onto other chains and decentralized wallet such as Metamask, MEW, Trust wallet, etc to load your “wallet”.*
Hope this help and avoid you as of now the need to track and backup thousands of seed phrases words for hundreds of wallets!
**Note: Never share your seed phrases online and real customer support will never ask you for that piece of information**