Distinguish the role of wallet passwords and secret recovery phrases/private keys in decentralized wallets!
“I only hold the wallet password and wallet address, how can I log in to my wallet?”
If you’re still asking this question, it means that you haven’t really understood the role of wallet passwords and secret recovery phrases/private keys in decentralized wallets.
Why can’t you import your wallet password to restore your control right of wallet assets?
The wallet password is mainly used to encrypt the private key. For example, when you execute the transfer or other operations on-chain, you need to enter your wallet password to sign in; when you need to import your secret recovery phrase/private key to your wallet, you need to enter and confirm your wallet password. The difference between wallet password and secret recovery phrase is that you can reset your wallet password by entering your secret recovery phrase/private key. But you can’t reset your secret recovery phrase or private key by entering your wallet password.
The wallet password is only for the security protection of the wallet. TokenPocket will not save your password, nor can it help you to retrieve it, so please remember your password.
For decentralized wallets like TokenPocket, Metamask, Secret Recovery Phrase/Private Key is the only proof to control your wallet, but the wallet password is not. Users who hold Secret Recovery Phrase and Private Key can fully control their assets. All transactions are carried out on-chain, transaction records are transparent and verifiable, and everything cannot be tampered with and is irreversible. However, if you lose the wallet's private key and secret recovery phrase, it means that you no longer have the right to control the wallet assets, and the wallet assets cannot be retrieved, even if you hold the wallet password and wallet address.
The importance of the Secret Recovery Phrase and Private key.
Secret Recovery Phrase/Private Key is the only proof to control your wallet. If you don’t back up your Secret Recovery Phrase/Private Key, then you will lose control of the wallet assets. No one can help you recover your assets unless you can recover your wallet’s Secret Recovery Phrase/Private Key.
If you still haven’t backup your secret recovery phrase/private key, do it now!
How to keep your secret recovery phrase/private key safe?
- Back up your secret recovery phrase/private key by writing it on the paper, then you can store it in a safe place. You can also store your secret recovery phrase with the Keypal Secret Box.
- Don’t take screenshots of secret recovery phrase/private key to avoid being intercepted by malware.
- Don’t share your secret recovery phrase/private key with anyone.
- Don’t upload your secret recovery phrase/private key to the network.
How to export your secret recovery phrase/private key?
TokenPocket Assets Page > Details > Export Secret Recovery Phrase/Private Key.
About TokenPocket
TokenPocket is the world’s leading multi-chain self-custodial wallet, which supports mainstream public chains and cryptocurrencies including BTC, ETH, BSC, TRON, Polygon, Solana, HECO, Klaytn, Avalanche, OKC, HSC, Fantom, Polkadot, Kusama, etc. The trinity of TokenPocket mobile wallet, chrome extension wallet, and hardware wallet has been formally formed. The Secret Recovery Phrase and Private Key are stored in the user’s device and users will be able to fully control their own crypto assets. TokenPocket has provided reliable services for over 20 million users around the world. The number of monthly active users exceeds 3.5 million and the users are located in more than 200 countries around the world.
