Why is it important?
Saving and securing your Recovery Phrase is the most important step when transacting in Web3, especially if you have, or plan to have, a large amount of funds in your wallet. There are many options you can use to safeguard your Recovery Phase. Each requires different types and levels of protection, commitment, and investment. Please choose the option(s) that are right for you.
It's crucial to keep in mind that your Recovery Phrase is the sole means of restoring access to your Valora wallet, and you are the only one who knows it. If your phone is misplaced, stolen, or damaged, having a copy of your Recovery Phrase that is not saved on your phone becomes essential. It's critical to keep it secure to ensure you can regain access to your account and funds whenever needed.
Below is a list of best practices for safeguarding your Recovery Phrase. Valora encourages all users to consider the merits of each point.
These are basic tips and are by no means an exhaustive list of security options.
- Save your Recovery Phrase separately from the device where you access your wallet. You can still access your funds if your device is lost, stolen, or damaged because you have a separate backup.
- Save a physical copy of your Recovery Phrase.
- Keep your Recovery Phrase somewhere you will remember.
- If saving online, ensure it is secured and encrypted.
- Avoid saving it where other people can access it.
- Take preventive measures to avoid your Recovery Phrase getting damaged or lost. You can make multiple copies, get a steel wallet, or store it in a fire-proof safe.
For more information about your Recovery Phrase, please see: