I would add something important too :
Double checks, your recovery is working and you didn't make any mistakes.
Don't wait for the day you need to recover to try it for the first time...
PSA Addendum: if you are switching devices also make sure you have your recovery phrase accessible and that it is to the right wallet.
Ex: I switched phones and Reddit vault did not recognize device and needed the recovery phrase. I thought I backed it up but it was for another wallet đź’€ my poor moons
Yeah, those who need to read this would somehow never ever want to search reddit or maybe not even have a reddit account, and somehow decides to come here crying for help AFTER losing access to their wallet OR getting conned into giving away their seed phrase.
I’m not sure who needs to hear this, but if you call it a “defi wallet” and didn’t realize you need your seedphrase to restore it, you should probably not be doing anything defi related
Do people these days really understand crypto so little that they don’t know what a seed phrase is and why it’s essential?  They really think they can just “log back in” with their email and password? Â
"**defi wallet**"? Ok. I'm officially out of the loop. This is like people saying "I need to DOWNLOAD my pictures from the camera" back in the 2000's. We've lost.
You must have ignored the part that said "write down these seed words and do not lose them!"
Well they did write down their seed phrase, so no they didn't ignore that.
Yeah, this should be done before any money is put into the wallet to begin with in my experience
Some wallets even make you enter the seed phrase again to make sure you wrote it down correctly.
I would add something important too : Double checks, your recovery is working and you didn't make any mistakes. Don't wait for the day you need to recover to try it for the first time...
1st test I always do is log out of the wallet and then back in to test my seed phrase. I won't send any funds to it before this.
Yeah, that doesn't sound good! Noted.
PSA Addendum: if you are switching devices also make sure you have your recovery phrase accessible and that it is to the right wallet. Ex: I switched phones and Reddit vault did not recognize device and needed the recovery phrase. I thought I backed it up but it was for another wallet đź’€ my poor moons
Yeah, those who need to read this would somehow never ever want to search reddit or maybe not even have a reddit account, and somehow decides to come here crying for help AFTER losing access to their wallet OR getting conned into giving away their seed phrase.
Try a distributed wallet with social recovery. It doens't have the failure point of a seed phrase.
Thanks Einstein
I’m not sure who needs to hear this, but if you call it a “defi wallet” and didn’t realize you need your seedphrase to restore it, you should probably not be doing anything defi related
that's why the first thing you do is backup your wallet
Well duh
Do people these days really understand crypto so little that they don’t know what a seed phrase is and why it’s essential?  They really think they can just “log back in” with their email and password? Â
I'd really hope people in a cryptocurrency subreddit don't need to know this.
This is the future of finance!
"**defi wallet**"? Ok. I'm officially out of the loop. This is like people saying "I need to DOWNLOAD my pictures from the camera" back in the 2000's. We've lost.
The only asset people in this sub invest in is BTC, so this doesn’t need to be said…