The decentralized digital wallet AScoin has two types of backups: private keys and seed phrase. If you ever delete your wallet, uninstall it, lose your phone, or forget your password, any of the above happens and if you don't have a backup, the wallet will be lost permanently.
Firstly, the loss of assets does not mean that the assets are lost in the blockchain, but that you lose control of the assets (i.e. you do not keep the security information of the wallet). During the creation of a wallet, a seed phrase or private key is provided to the user for saving, and a secondary verification of the saved content is carried out, which should be completed before the wallet is available.
The most important thing is to back up your seed phrase.
- You cannot retrieve a seed phrase if it is lost, so it is important to back up your seed phrase as soon as you create your wallet to avoid losing your assets if your device becomes unavailable.
- A seed phrase is a private key that is not protected by any encryption, so once someone has access to your seed phrase, they are in control of your wallet. Keep your mnemonic safe by isolating it from the Internet and protecting it from loss.
- When backing up your seed phrase, try to use a physical medium, such as a piece of paper.
- When writing down the seed phrase (private keys), please pay attention to the order of the words and whether they can be kept for a long time, and make sure that the handwriting is clear.
- Do not use your mobile phone to take screenshots or photos, or to store the seed phrase or private key by email or mobile phone memo.