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What happens if you lose your seed phrase

Imagine a series of words that, together, act as a master key to access and retrieve your cryptocurrency wallet.


Well, that would be a seed phrase, but what happens if you lose your seed phrase?


Right off the bat, it has serious consequences, but today, we'll provide you with several steps to mitigate the risks.


Read on!


What if I lost my seed phrase?


Among the consequences of losing your seed phrase, we have:


Total loss of access to funds


Without your passphrase, you will not be able to restore your wallet in case of loss or damage of the original device, which means that your digital assets could become permanently inaccessible.


Risk of hacking or theft


Attempting to recover it by insecure methods may expose you to vulnerabilities. For example, storing the phrase on internet-connected devices increases the risk of hacking.


Psychological and financial impact


The loss of your digital assets can generate significant stress and considerable financial consequences, especially if the funds represent an important part of your savings or investments.


One of the most famous cases is that of Stephan Thomas, who lost the paper where he had written down his seed phrase with a fortune valued at 240 million dollars.



Lose a seedphrase


What to do if you lose your seed phrase?


If you lost your phrase, do the following:


Look for physical or digital copies


In other blogs we have already talked about the malpractice of writing down your seed on paper or any medium in which the information is clear, i.e., visible to the eyes of others, but if this was your case then...


Look for notes on paper, photos or documents where you may have saved the phrase.


Inspect safes, encrypted folders or any place where you store sensitive information.


Avoid searching internet-connected devices to reduce the risk of exposure to malware or hackers.


Contact the wallet provider


Most providers do not store seed phrases for security reasons, so they are unlikely to be able to help you retrieve it.


They can, however, offer advice on how to proceed or protect your remaining funds.


Recover funds if you used multiple wallets


If you have other wallets with access to your cryptocurrencies, transfer the funds to a new secure wallet.


Perform this operation as soon as possible to minimize the time of exposure to possible risks.


Is it possible to recover a lost seed phrase?


In most cases, recovering a lost seed phrase is extremely difficult, as it is not stored on any server and is not recoverable by conventional methods.


Therefore, it is essential to create new backups and transfer your funds to a secure wallet if you manage to temporarily regain access.


For specific guidance, you can consult specialized forums such as r/Bitcoin on Reddit or the official support of your wallet.


How NOT to lose your seed phrase


To avoid the loss of your seed phrase in the future, what can be done? What is the best way to materialize self-custody? consider the following practices:


Secure physical storage


If you already have a steel plate, have just one, bury it in a place that no one can even imagine. Make it so that even for you it is a big effort to dig it up and use Cuvex to have secure copies accessible from anywhere.


You can send clones of your seed phrase on a simple NFC card to 20 family and friends, located in 20 different places. They will never be able to access them without the encryption password.


There is no danger if they are stolen, they cannot be photographed and, if you lose any of your copies, if you only access one of them, you will never have to dig up your steel plate.


Cold Storage


You can opt for a cold storage device (without internet connection) to safeguard your seed phrase in the best possible way.


 Cuvex uses AES 256 encryption and cold storage, isolating your data from all networks to protect your cryptocurrencies, allows the management of single or multi-signature wallets, improving security and facilitating the collective management of cryptocurrencies.


 With cuvex you will be able to:


  • Create your Wallet from 0 with own entropy (dice and currency). Watch video

  • Encrypt your seed phrase (Beep 39, Slip 39 “Shamir”, XMR Seed “Monero”, Plain Text) in NFC cards. Watch video

  • Decrypt information. Watch video

  • Make multiple copies of encrypted information at the most affordable price on the market. Watch video


Cuvex device

This is only a small portion of all what we can tell you! So keep reading our blog 😉.


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