When you lose a wallet full of paper money, you’ll probably never see that cash again. But if you’ve been using a Zumo crypto wallet to store Bitcoin or Ether, you don’t need to worry if you lose access.
When you open an account with Zumo, you’ll be given a backup phrase which must be stored safely. And by safely, we don’t mean in a folder on your computer’s desktop named “private key”. You might want to consider writing it down, memorising it or keeping the phrase anywhere it is not likely to be lost (or found by other people).
A backup phrase is a list of 12 words that is completely unique to your account. You can see it in the Zumo app by tapping the setting tab and selecting the security option. Press the backup phrase button, enter your wallet password you set when signing up and you’ll be able to see the backup phrase.
Zumo is a non-custodial wallet, which means we do not store lists of backup phrases - which are also known as private keys. This protects you from data breaches, as there is not a centralised list for hackers to attack. But it does mean that you need to remember your backup phrase, because with freedom comes responsibility.
If you lose access to your wallet, here’s how to use the backup phrase to regain access.
- Download the Zumo app on your new device.
- Enter the email address you first signed up with.
- You will then receive an email. Open it and click on the magic link.
- Press the “restore using your backup phrase” button.
- Enter your backup phrase.
- Reset your password.
If you follow this process, you’ll be back inside your wallet and can once again join the smart money revolution.