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MYKEY Weekly Report 35 (January 18th~January 24th)

Today is Monday, January 25, 2021. The following is the 35th issue of MYKEY Weekly Report. In the work of last week (January 18th to January 24th), there is nothing to update last week and we list several tips on understanding MYKEY for your study and reference.

1. The recovery phrase is the highest permission of the MYKEY account, which is composed of 12 Chinese or English words. You can manage the account by the recovery phrase.

2. The password needs to be set to operate the regular business of MYKEY, such as transferring, operating dapps, turning on fingerprint payment, syncing the device, and changing the password when users first enable the blockchain feature, which is 8–20 digits with any combination of uppercase and lowercase letters, numbers, and symbols.

3. The emergency contacts are the security guardians of users’ MYKEY accounts. Emergency contacts are required when users lose their recovery phrases or need the security operation of accounts to take effect instantly. Especially when the recovery phrases are obtained by the others, if users have emergency contacts at this time, they can immediately replace the recovery phrases and the accounts will be secure.

4. The network fee is a billing unit in MYKEY. When transferring, using applications, or managing accounts, as long as transactions are sent to the blockchain, fees will be calculated and deducted from users’ network fee balance. The network fee consumption is subject to the actual cost of the blockchain.

!!! If you encounter any abnormal situation while using MYKEY, remember not to uninstall MYKEY APP, please contact MYKEY Assistant: @mykeytothemoon in Telegram.

!!! Remember to keep the 12-digit recovery phrase properly from [Me] — [Manage Account] — [Export Recovery Phrase] in MYKEY even if your account is not real-named.

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