Losing a phone or hardware wallet containing cryptocurrency is inconvenient, but it shouldn’t be fatal. Provided you’ve backed up your private key, recovering your coins is a simple exercise. Should you find yourself in such a predicament, however, there’s a few things you should know before reaching for your wallet recovery phrase.
Also read: Zengo Is a Keyless Yet Noncustodial Bitcoin Wallet
Recover Your Wallet the Right Way If you’re smart enough to store your bitcoin in a noncustodial wallet, you’re smart enough to make a backup. Whether you’re using a desktop, mobile, or hardware wallet, the process is much the same: look out the seed phrase you’ve stashed in a safe place for this very scenario and enter it into your replacement wallet. All going to plan, you’ll see your balance restored and your coins reappear in your wallet within seconds of importing your seed.
There are a few exceptions to this rule, however, as not all wallets rely on a seed phrase to restore access. Has..