Amassing information relating to the Coinomi Wallet backup
Securing the wallet data is also the responsibility of the users. Working on digital devices is a bit critical as the operating device might encounter a glitch/error or can get nicked. Considering these tough and unexpected situations, it is always recommended to back up the wallet information else you might lose all your trade details in a while.
You might have heard about one of the crypto wallets – Coinomi, which because of its amazing security features has become the top choice of investors.
We are here going to learn the basic steps involved in backing up the Coinomi Wallet. In addition to this, we will also look at the crucial information that you should know before indulging in the backup process.
Series of steps to back up your Coinomi Wallet
Backing up the wallet helps in securing the wallet data and funds. Performing this activity helps in safeguarding wallet data against computer failures and human errors. In addition to the wallet data, all the transactions to date get backed up.
To review the complete series of steps involved in this case are listed underneath:
1. Get into your wallet by entering the asked details
2. Navigate to the “Settings” section and then click on it
3. Tap on “Manage Wallets”
4. From the list carrying the wallet names, select the one you want to back up
5. Select “Recovery Phrase” and then perform the on-screen instructions
This process is considered essential as it ensures that your wallet data remains safe in case your device ever gets lost/damaged. However, what’s most important here is the recovery phrase of the wallet, and to secure it you need to memorize the below-listed practices and follow them as well.
What things to do?
ü Jot down the recovery phrase on paper and keep it somewhere safe
ü If making an encrypted file offline, lock it using a strong password
ü If you are storing it digitally, use a secure device and be very careful while performing actions
Alert!!
· If you have created a BIP39 passphrase, backup and restore it too
· Never transmit out the recovery phrase from your device
· You should have the correct recovery phrase with you for backing up the wallet
Avoid committing these mistakes…
Ø Avoid storing recovery phrase on the same device on which the Coinomi Wallet is downloaded
Ø Avoid storing it in plain text or image while making a digital copy of it
Ø Avoid storing it in a place where anyone can check it out
Final Verdict
Trusted by several crypto investors all over the world, Coinomi Wallet is known for having some features that other crypto wallets don’t have. Known for its excellent security, this wallet allows users to deal with more than 1770 blockchain assets. Investors based on their preference can choose any of the crypto assets to start their trade. They can even clear out their doubts by getting into the “Support” section of the wallet.
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