How to properly save & back up your wallet

Preface

The following assumes you are not using a hardware wallet. Due to their ease of use and security, we recommend a hardware wallet for cold storage.

To save / backup your Ledger or TREZOR device, simply write down the 24-word phrase on the card they provide and keep it very, very safe. Never put this key on an online device or type it into MyCrypto.com.

How to back up your account

  1. Unlock your new wallet from the Keystore / UTC file on your USB drive via the Mnemonic Phrase or private key that you printed out. Ensure that it unlocks the wallet you are sent to and matches the bookmark you have.

    • Do not simply leave your wallet open. Pretend you are coming back a year later to access your riches. Can you do it?
  2. Send a small amount of crypto (e.g., 0.0001 ETH) from your previous wallet or exchange to your new wallet using the public address.

  3. Send a small amount of crypto (e.g., 0.00001 ETH) from this new wallet to another address.

    • Perhaps our donation address? We are a free, open-source service. There are no fees, no ads, no selling your data.
  4. Ensure that you have recorded all the necessary bits of information and the addresses match at all times. If they don't, you miswrote something somewhere. That means it's time to start from the beginning in order to make sure you never lose access to your funds.

Doing all of this is tedious, but it ensures you (1) have complete access to your funds, (2) the address you sent to is correct and matches the private key you have saved, and (3) you can rest easy for years to come, knowing you will be able to access your crypto later.

Safe storage of backups

It is recommended that you store backups of both forms of your key (the Keystore file or Mnemonic Phrase and paper wallet version) in physically separate, offline environments.

This prevents loss of the private key and password due to things like a dead hard drive, lost USB drive, wet piece of paper, etc. Keep in mind that physical loss can occur from events that affect an entire geographical area (e.g., fire, flood).

We cannot recover your key

MyCrypto is not a "web wallet" and cannot recover your private key or password, access your account, move funds, recover funds, nor cancel/reverse transactions.

We are a client-side interface that allows you to interact with cryptocurrencies. Please secure and back up your key like the millions of dollars it could someday be worth.

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