Your Backup Recovery Key is the Most Important Concept to Grasp When Setting Up and Using HODL Wallet

When you start a new wallet a unique 12-word Backup Recovery Key is generated, which is equal to all the bitcoin, bitcoin addresses, private keys, and transactions your HODL Wallet will ever store and use.

Let’s go over that again. All the bitcoin you will ever receive using HODL Wallet are backed up and equivalent to your Backup Recovery Key.

This means that if your phone is lost, stolen,destroyed, or you get a new phone, the only way you’ll be able to recover your bitcoin is if you have your Backup Recovery Key. It’s critical that you write it down and store it somewhere safe.

Anyone who has access to your Backup Recovery Key can also access your bitcoin, so it’s critical that you keep it a secret and not take any pictures of it or store it online. Most users write it down on a piece of paper and store it in a safe or where they keep other important documents.

Things to remember:

1

Never share your Backup Recovery Key with anyone.

2

Store it somewhere safe where it can’t be stolen or accidently destroyed.

3

Don’t receive bitcoin to your HODL Wallet until you’ve written down and stored your Backup Recovery Key.

4

The individual words that make up your Backup Recovery Key must be recorded in order.

5

As long as you have your Backup Recovery Key, you have access to your bitcoin.

HODL Fact

Your Backup Recovery Key is a unique set of words that has never existed in that combination and order. The math behind your Backup Recovery Key generation is so powerful that it is impossible for two people to generate the same Backup Recovery Key.

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