Making a backup of your wallet helps ensure you can always maintain access to your funds. If you haven't backed up your wallet yet, go to your Security Center and click on Backup Funds.
If you ever need to use your backup, or recovery, phrase, your funds will be recovered into an entirely new wallet, and a new Wallet ID will be generated for you. This recovery process works similarly with a number of other cryptocurrency wallets that support this feature.
Your phrase will grant anyone access to your funds, so we strongly recommend storing it offline in a secure place. Keep in mind that, as the recovery phrase allows you to restore access to your cryptocurrency, it would equally allow anyone else who has it to gain access to your funds.
To find out more about why making a backup is so important, check out this blog post.
Click on Print Recovery Sheet to download a PDF template that you can print out and use to handwrite your recovery phrase. If you are unable or choose not to print the template, please ensure you write down the words in the same numerical order.
To proceed with writing down your phrase, click Backup Funds. The words will appear in groups of four at a time.
Before proceeding to the next group of 4 words, please check to make sure you write these down correctly, in the exact order in which they appear. Misspelled or misplaced words will result in lost funds.
Once you've written down the last 4 words, click on Finish & Verify to verify your phrase.
The last step requires you to verify a random selection of 4 of the words in your phrase. If this step is completed correctly, your Security Center score will increase, and your wallet will be backed up.
Click Confirm when you have finished entering the random 4 words.
Your backup phrase has now been verified. It will allow you to restore access to your funds if you ever lose your password or otherwise lose access to your wallet.
Please note: Imported addresses are not backed up by the wallet recovery phrase. We strongly recommend you to transfer funds from imported addresses into this wallet by going to Settings > Wallets & Addresses > Imported Addresses.