Private Key and Passphrase are two extremely important pieces of information that you need to save immediately after creating a wallet. But if unfortunately you lost it, how to get it back?
Let's learn through the following blog.
What are Private Key and PassPharse?
Private Key and Passphrase are important information used to connect to the wallet address where the asset is stored.
- Private Key: Is a string format to connect to an account, quite similar to the password of a bank account.
- Passphrase: A way to secure and recover a wallet containing between 12 and 24 random words. In case you lose your phone or remove the wallet application, you can use the passphrase to restore the wallet back to the way it was.
What are Private Key and PassPhrase used for?
As I mentioned briefly above, Private Key and Passphrase are used to:
- Wallet security.
- Restore wallet.
- Confirm transaction.
How to get private key/ passphrase on Coin98 Super App
Coin98 Super App is the #1 crypto super app designed to connect one billion users to the safe and secure crypto world. Through the Super App, Coin98 provides users with a comprehensive and trusted ecosystem with globally needed services.
Option 1: Save immediately after creating wallet (Preferred).
After creating the wallet, you copy the private key and passphrase and keep it in a safe place. Never share information with anyone.
Option 2: Get back the private key/ Passphrase at Manage.
Step 1: Open Coin98, select Wallets tab. Select Manage.
Step 2: Select the wallet you want to get back your private key/ passphrase.
Step 3: Click Show Key Info.
Step 4: Copy Passphrase and Private Key.
Options to save the private key/ passphrase of the wallet
Usually, users have a habit of taking screenshots and storing them in the photo folder, but I don't recommend this.
- Firstly, important information stored in photos is easily stolen by hackers and malicious code or accidentally deleted by mistake.
- Second, it is difficult for you to interact when you need to confirm.
I recommend that you use other ways to save such as:
- Take notes on paper and keep them in a safe place.
- Take notes and save them in the phone's notes (if using an iPhone, you can use a security key to lock it to restrict access).
- Backed up in many different places. You can write and make multiple copies and keep it so that if you lose one, you still have another to back up.
When writing a tutorial on creating and using a wallet, I always remind you to keep your private key and passphrase in a safe place because these are two extremely important information and are directly related to your financial assets.
There have been many users who lost their private key/passphrase but could not connect to their wallet and asset, and they loss of their money, so please take this seriously!
See you in the next blogs!