How to BACKUP and RECOVER your WALLET with MNEMONIC

CITOWISE
CITOWISE
Sep 9, 2018 · 2 min read

When it comes to exporting and importing a cryptocurrency wallet, using the associated data file can be quite problematic. A lot of users do not create a backup of their wallet file, even though it is needed in case something goes wrong.

Without the file, it is virtually impossible to reclaim a previous cryptocurrency wallet, unless one can somehow access this particular .dat file in one way or another. People relying on web wallets (hot wallets) will not have any issues with this process, though.

Citowise wallet provides different ways of how to back up an user’s wallet. Let’s mention the most popular way of how to recover the wallet — mnemonic.

Mnemonic seed is a collection of random words which need to be put in the right order to restore access to a wallet. The mnemonic is used to derive multiple private keys. It is a unique wallet phrase that gives you a human readable format of words to backup your wallet for recovery.

It also means an existing mnemonic-based cryptocoin wallet address can be imported into different solutions supporting mnemonic seeds. It is typically a phrase that allows you to access an infinite number of accounts.

Here is an example of what it should look like: scissors invite lock maple supreme raw rapid void congress muscle digital elegant little brisk hair mango congress clump”.

Citowise wallet is a cold wallet and has the same principle of recovering (mnemonic). But the most important that the wallet is decentralized and the most secured. It means that nobody keeps the private keys and data of the users’ wallet, except the users themselves and protection of users’ assets is ensured.

Stay tuned for lots of great news to come!

Thanks for the support and until next time.

As always, stay safe on the blockchain.

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