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  • Why we recommend Phoenix Wallet
  • Guide Overview
  • 🏰Security Overview
    • Securing the wallet: Overview of the basics
    • WARNING! Important basics to know before setting up a backup
    • How can you lose your Bitcoin?
  • 🔐Create your wallet & backup
    • What you need
    • Wallet Creation
    • Securing Your Backup
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  1. Security Overview

WARNING! Important basics to know before setting up a backup

PreviousSecuring the wallet: Overview of the basicsNextHow can you lose your Bitcoin?

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 to recover access to your Bitcoin if your phone is damaged, lost or stolen.

The backup consists of a series of 12 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 3 rules below carefully.

There are 3 rules to making a Bitcoin backup:

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

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

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

🏰
Example of a 24-word backup