Making and storing a secure backup of your recovery phrase is absolutely vital to ensure that you never lose access to your Bifrost Wallet or crypto assets. This article details best practices and explains step-by-step how to make a secure backup of a recovery phrase.
One of the first things Bifrost Wallet asks every new user that creates a new wallet is to confirm that they understand the consequences of not making a proper backup.
Since Bifrost Wallet is non-custodial, only you control your keys and crypto assets. This means that there is nothing our support or anyone else can do to help you recover your crypto assets if you lose access to your recovery phrase. First let's detail the steps to make a secure backup of your recovery phrase:
Step 1: Read and acknowlege the disclaimer and then click the back up now button, as seen in the image above.
Step 2: Grab a pen and paper. Optionally, purchase a waterproof and fireproof CryptoSteel capsule to save your recovery phrase.
Step 3: Carefully write down each word displayed in Bifrost Wallet on paper. Always double-check the spelling and number of each recovery phrase word. It is important that each word is written down with correct spelling and in the correct order.
Step 4: Bifrost Wallet will ask you to confirm that you've written down each word correctly by selecting them in order in the app. Read one word at a time from your physical recovery phrase backup and select each word in order in Bifrost Wallet.
Step 5: Keep your recovery sheet physically secure and out of sight, so that you don't lose it, reveal it or destroy it by accident. Never take a picture of your recovery phrase and never share your recovery phrase, in any form, with anyone.
Step 6 (optional): Create another copy of your recovery phrase, so that you have two identical backups. Each copy is then preferably stored in a different location.
Once you have completed the steps above you have a complete and secure backup of your recovery phrase. If you forget your PIN code or if your phone is damaged, lost or stolen, you can restore your Bifrost Wallet and regain access to your crypto assets.
The same applies if you buy a new phone and need to move your Bifrost Wallet from the old phone to the new phone. Regain access to your crypto assets by installing Bifrost Wallet on the new phone and restore it from your recovery phrase.