In the world of cryptocurrency, your seed phrase (also known as a recovery phrase) and private keys are the most important pieces of information you own. Understanding what they are and how to protect them is essential for keeping your funds safe.
Think of your private key as the master key to a bank vault that holds your funds. Your seed phrase is the master key that can recreate all the other keys to your vault if you lose them. Anyone who has access to these has complete control over your crypto assets.
Wert's Role: What We Do and Do Not Access
It is critical to understand what information Wert interacts with. This will help you recognize what is normal and what could be a security risk.
We Only Use Your Public Address: To process a transaction, Wert only needs your public wallet address. This is information you can safely share for the purpose of receiving funds.
We Do Not Create or Store Wallets: Wert does not generate crypto wallets for users. Therefore, we have no connection to the storage of your wallet's private information.
We Never See or Store Your Keys: Wert never has access to, sees, or stores your private key or your seed phrase. This information is stored only within your personal wallet application and should never be shared with anyone, including us.
A Wert support agent will NEVER ask you for your seed phrase or private key. If anyone asks you for this information while claiming to be from Wert, they are a scammer.
How to Keep Your Keys Safe: Best Practices
Because you are the only one with access to your keys, the responsibility for securing them is yours.
Write It Down on Paper: The moment your wallet provides you with a seed phrase, write it down on a physical piece of paper. Check the spelling and order of the words carefully.
Store It Securely and Offline: Keep the paper with your seed phrase in a safe, secure, and private location where it will not be accidentally thrown away or discovered. Consider places like a fireproof safe, a safe deposit box, or several secret, separate locations.
Never Store It Digitally: This is the most common mistake. Never save your seed phrase in a digital format. This includes:
Taking a photo of it with your phone.
Saving it in a text file on your computer.
Storing it in a cloud service like Google Drive, iCloud, or Dropbox.
Sending it to yourself in an email or a messaging app. Digital storage is vulnerable to hackers and malware.
Never Share It: Treat your seed phrase like your most important password. Never share it with anyone for any reason. Most scams are designed to trick you into revealing this phrase.
Remember, in the world of self-custody crypto, you are your own bank. Protecting your keys is the single most important thing you can do to protect your funds.