WARNING! Important basics to know before setting up a backup
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.
Example of a 24-word backup
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.
Scenarios where you can lose your funds.