Protect Your Recovery Phrase
Your recovery phrase is the only way to access and control your crypto assets. Keep it safe, secure, and never share it with anyone!
When you register with Thane, a new account is created for you, secured by a 12- or 24-word recovery phrase. This recovery phrase acts like a master password, giving you full access to your account and any wallets within it. This approach is common in the crypto world and ensures that you have complete control over your assets without having to trust a third party.
Unlike a typical password, you are the only one who has access to this recovery phrase—Thane cannot see or recover it for you. This means that keeping your recovery phrase safe is your responsibility. Proper management of your recovery phrase is crucial to maintaining the security of your account. Here are some best practices to help you keep it secure.
1. Write It Down
Immediately write down your recovery phrase on a piece of paper. Avoid storing it digitally, as digital storage methods can be susceptible to hacking, malware, and other security breaches.
2. Store It Securely
Keep the written copy of your recovery phrase in a secure and private location. Consider storing it in a safe, a locked drawer, or another secure place where it will not be easily accessible to others.
3. Create Multiple Copies
Make multiple copies of your recovery phrase and store them in different secure locations. This provides a backup in case one copy is lost or damaged.
4. Avoid Digital Storage
Do not store your recovery phrase on your computer, phone, cloud services, or any other digital device. Hackers and malicious software can potentially access these devices and steal your recovery phrase.
5. Do Not Share Your Recovery Phrase
Never share your recovery phrase with anyone. Anyone with access to your recovery phrase can gain full control of your wallet and its contents. Be cautious of phishing attempts and scams that may try to trick you into revealing your recovery phrase.
6. Memorize If Possible
If you can, try to memorize your recovery phrase. While this might be challenging, it adds an extra layer of security since you won’t have to rely on written copies.
7. Test Your Backup
Periodically test your backup by using your recovery phrase to restore access to your wallet on a new device. This ensures that you have copied it correctly and can access your funds if needed.
Remember, the security of your recovery phrase is paramount to the safety of your crypto holdings.