Protecting your self-custody wallet's secret recovery phrase

A self-custody wallet (also known as a web3 or non-custodial wallet) is a crypto wallet that allows you to have complete control over your crypto assets: Instead of storing your crypto with a third party, like an exchange or trading platform, you alone manage your assets through the wallet.

Your self-custody wallet comes with a secret recovery phrase, or seed phrase, which allows you to access your wallet if you lose or reset your device. The secret recovery phrase is key to keeping your wallet safe — if only you own your wallet, then only you can recover it.

Your secret recovery phrase is the only way to recover your non-custodial wallet. If you lose or reset your device, you can access your wallet by re-downloading the app and inputting your secret recovery phrase.

You’ll get your secret recovery phrase when you set up your wallet. The phrase consists of 12 to 24 randomly generated words in a nonsensical order. For example, it might look something like this:

happiness wise lizard balloon corn jump daisy sculpture rock purple pet legend

You are solely responsible for holding onto your secret recovery phrase. It’s incredibly important to write down your secret recovery phrase in its exact order, store it somewhere safe, and never share it with anyone. Anyone with your secret recovery phrase could access your wallet.

• Keep your secret recovery phrase a secret — sharing it with someone else gives them access to all the crypto in your wallet.
• Store a few backup copies of your secret recovery phrase in different, secure locations. If your self-custody wallet allows you, you can back up your recovery phrase to a cloud-based service like iCloud or Google Drive.
• If you think your wallet has been compromised, move your funds to a new wallet associated with a new seed phrase immediately.

• Be wary of suspicious airdrops, emails, text messages, social media messages, and websites that ask for your personal information, contain unexpected crypto assets or attachments, or offer financial advice. If you ever doubt the authenticity of a message, do your research to find out where it’s coming from.
• Before signing a transaction with your wallet, be sure to check the transaction details. It’s possible for scammers to access your funds if you sign a transaction, so only approve transactions from trusted senders.
• Be cautious when forming online relationships. Make sure you trust the entities and people you transact with — this includes connecting to dapps, sending and accepting crypto, etc.
• Be cautious of anyone who asks you to download screen recording software.
• Be skeptical of giveaways on social media.

Rule of thumb: if you ever receive an offer that sounds too good to be true, it probably is.