Let’s say you’re trying to relax after a hard day of work. You’ve run yourself a bath and you reach for your phone to turn on music and then … your hand slips, the phone falls into the water and … well, it’s ruined. You lost all of the photos on it and all of your notes, but worst of all, you lost your digital currency wallet.
Don’t worry, though! With Coin Cloud, once you get your new phone you can transfer your CC wallet to it seamlessly. While you might have lost all of your photos to the water, the Coin Cloud Wallet app is hydrophobic.
One of the most important things for you to write down and keep track of when owning digital currency is your 12-word recovery phrase. While your other encryption and private keys are also important, it all really comes down to your recovery phrase if you lose access to your wallet somehow.
Last time we talked about how to secure your Coin Cloud Wallet. Now we’re going to do the reverse, and use that information to get it back.
So, let’s go through a step-by-step process on how to restore your Coin Cloud Wallet if you do lose it or want to load it onto a new phone.
After reinstalling the Coin Cloud Wallet application, first select your language (like you once did before). After this you will be given the option to either “Start,” which would create a new wallet with a new address and no funds … or “Import from backup,” which is what you’ll do instead. This will start the process of restoring your wallet and its funds.
The first part of this process includes adding a layer of security if you want to. You can choose to have a 4-digit PIN or register your biometrics, which will prevent unauthorized access to the app if your phone is lost or stolen.
Next you will be prompted to import your wallet by entering the 12-word recovery phrase that you got when first setting up your wallet. You wrote them down or otherwise kept them safe, right? Great! Now enter these 12 words in the same order they were given to you, separating each one with a space.
Then, tap the word “Import” in the top right corner and wait a few seconds for the application to import your wallet. OMG! There’s all your Bitcoin, just like before you dropped your phone!
Once your funds are safely restored, you’ll have the option to add more encryption again. If you would like to do this, select a new passphrase that will work as a barrier to accessing your funds. Enter it once, and then enter it again to confirm it. From now on, you will need to enter this passphrase to carry out certain actions in the app.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
When You Buy $150 or More at Any Coin Cloud DCM
Use promo code COINCLOUD at the machine
Enter your email for updates, promos, and more ...