Q: I changed my phone. How can I restore my assets?
A: Assets are not stored in the app wallet but on the blockchain itself. By entering your mnemonic phrase into the new device, you can restore access to your wallet and thereby your assets.
Q: How do I restore a wallet on a new device?
A: To restore a wallet on a new device, you must use your existing mnemonic. Cosmostation does not support data migration between devices, so you must follow these steps:
- Install Cosmostation App: Download and install the Cosmostation app on your new device.
- Select Restore Wallet: Open the app and select the "Restore Wallet" option from the home screen.
- Enter Mnemonic: Carefully enter the mnemonic phrase you backed up from your previous device.
- Proceed with Restoration: If the entered mnemonic is correct, your wallet will be restored on the new device. Refer to the Wallet Restoration section if you need a guide.
Q: What if I lost or damaged my previous phone?
A: Decentralized wallets empower you to manage your assets independently. You can restore your wallet using the mnemonic phrase, but the wallet itself does not store the mnemonic. It is essential for users to securely store and manage their mnemonic phrase.
Q: Where can I find my mnemonic phrase?
A: If you haven't backed up your mnemonic phrase yet, you can check it in the wallet settings on your existing device. For more details, refer to the Account Management section.
If you cannot access your device due to loss or damage, you must use the mnemonic phrase you previously backed up. Without a backup of the mnemonic, you will lose all rights to access the assets. It's crucial to backup your mnemonic phrase safely during wallet setup and ensure it's not lost or exposed to others.
Q: How should I securely store my mnemonic phrase?
A: Since the mnemonic phrase is your private key for wallet restoration, it is vital to store it securely. Here are some ways to safely store your mnemonic phrase:
- Store it offline: Write your mnemonic phrase on paper and keep it in a physically secure location, such as a fireproof and waterproof safe.
- Avoid digital backups: Storing it on digital devices or cloud storage can be risky due to hacking threats.
- Keep multiple copies: Store it in multiple safe locations to avoid losing everything if one location is compromised.
- Never share it: Do not share your mnemonic phrase with anyone. Anyone who can access your mnemonic can access your assets.
- Consider encryption: If possible, consider storing your mnemonic phrase in an encrypted form. However, this method requires additional security measures to store the decryption key safely.
- Check regularly: Over time, storage media can deteriorate, so regularly check the condition of your mnemonic and transfer it to a new secure medium if necessary.