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Securing the wallet: Overview of the basics

Before we get into the process of setting up your wallet, go over these basic security principles to make sure that you don't miss any important information and that you don't make any avoidable mistakes.

There are 2 security mechanisms that prevent you from accidental loss or theft of your Bitcoin:

  1. 1.
    Biometrics on Phoenix Wallet
  2. 2.
    Seed Backup recovery code

If you lose your Phoenix Wallet

  • The Seed Backup allows you to recover your Bitcoin wallets

If someone steals your mobile device

The biometrics protects unauthorized access to your Phoenix Wallet and seed, should it fall into the wrong hands.

WARNING

The Seed Backup is required to recover a lost wallet. If you lose the Seed Backup, you will not be able to recover access to your Bitcoin if you lose the Phoenix Wallet app or your mobile device.