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Blue Wallet
Blue Wallet
  • Why we recommend BlueWallet
  • Guide Overview
  • 🏰Security Overview
    • Securing the wallet: Overview of the basics
    • WARNING! Important basics to know before setting up a backup
    • Passphrase Overview
    • How can you lose your Bitcoin?
  • πŸ”Create your wallet & backup
    • What you need
    • Wallet & Backup Creation - 1 of 2
    • Wallet & Backup Creation - 2 of 2
  • πŸ”‘Add a passphrase
    • Passphrase Security Basics
    • Steps to create a passphrase
  • πŸ“²How to use Bitcoin with Blue wallet
    • Steps for receiving Bitcoin payments
    • Sending Bitcoin - Overview
    • Steps for Sending Bitcoin
    • Advanced Sending Options
  • πŸ”ŽSecurity & Privacy Configurations
    • Security Basics
    • Advanced Security Options
  • πŸ–₯️Network Configurations
    • Electrum Server
  • ⚠️Summary
    • DO's & DONT's
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  1. Security Overview

WARNING! Important basics to know before setting up a backup

PreviousSecuring the wallet: Overview of the basicsNextPassphrase Overview

Last updated 3 years ago

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⛔️ THIS IS THE MOST IMPORTANT PART. TAKE A MINUTE TO READ ALL THE INSTRUCTIONS FIRST. DO NOT SKIP. ⛔️

The next step involves creating a paper backup of your Bitcoin wallet, which you will need in order to recover access to your bitcoins if your phone is damaged, lost or stolen.

The backup consists of a series of words generated randomly by the Bitcoin wallet.

These words allow you to recover access to your Bitcoin wallet in case anything happens to your phone.

Before creating your paper backup, please read the 5 rules below carefully.

There are 5 rules to making a Bitcoin backup;

  1. If you do not have a backup and you lose access to the BlueWallet on your phone, you will lose access to the bitcoins permanently.

  2. Each wallet you create in BlueWallet has its own backup that you must write down - there is no general backup.

  3. If someone finds the backup of your wallet, they can steal your money.

  4. Never store your passphrase in the same place as your backup. Don’t leave them out in the open either, someone will take your bitcoins.

5. Don't take a picture, print or share your words

🏰
Example of a 24-word backup
Scenarios where you can lose your funds.