On the coronary heart of self-custodying your crypto is full management of your funds: hodl to the moon, ship and obtain to/from mates, spend instantly with retailers, purchase your favourite cash, swap whichever cash you need, and particularly, handle your belongings nevertheless you please.
The method of importing your personal key means you might be primarily recreating your pockets on a brand new system or platform with out paying any additional charges. Your keys don’t “transfer” from one pockets to a different, simply replicated in your new pockets platform. You’ll use your restoration phrase to confirm possession of your key, permitting you to entry funds out of your new pockets. From there you possibly can spend and handle your belongings as if nothing modified.
There are a whole lot of crypto wallets on the market and generally it might take just a few cracks to search out the correct one. As an alternative of going by the trouble of sending crypto to a brand new deal with and paying transaction charges, you possibly can merely import your self-custody pockets to a brand new pockets utilizing your restoration phrase.
Causes chances are you’ll need to import your key
Switching pockets supplier for improved consumer expertise or pockets featuresRestoring funds from a misplaced or broken deviceChanging the system you utilize to supervisor your funds
Essential! Should you import keys from a misplaced system, you’ll doubtless need to switch your belongings to a brand new key after regaining entry to the important thing. If somebody had been to search out your previous system, they might probably entry your funds even after you’ve recovered your key. Equally, in case you nonetheless have management over an previous system, it’s endorsed to take away any related crypto pockets software program or knowledge to make sure funds aren’t accessible from the retired system (until you propose to make use of the retired system as a contingency plan).
Find out how to import your pockets
Importing the keys from any self-custody pockets which you personal is a comparatively straightforward and easy course of that ought to solely take a couple of minutes.
Step 1: Select a trusted, appropriate pockets supplier
Be sure that any new pockets supplier is trusted and receives good evaluations among the many crypto neighborhood. Additionally double test that the pockets helps the belongings held in the important thing you want to import. BitPay is without doubt one of the most established crypto corporations, having over a decade of expertise serving to customers and retailers dive into the world of crypto. Along with industry-leading storage safety, the BitPay Pockets gives a number of methods to spend and use your crypto.
Purchase, retailer, swap and spend securely with BitPay
Get the BitPay Pockets App
Step 2: Find your restoration phrase
Your restoration phrase, also called your seed phrase, is a set of 12, 18 or 24 phrases related together with your key. It is without doubt one of the solely strategies it’s a must to recuperate your funds.
BitPay, like different respected self-custody pockets suppliers, doesn’t retailer or have entry to your restoration phrase! Should you don’t have entry to this restoration phrase or personal key then your funds are more than likely misplaced.
Step 3: Import the seed utilizing your restoration phrase
This course of might fluctuate relying on the pockets supplier you select. Throughout the BitPay Pockets app, choose “Create, import or be a part of a shared pockets” below the “Develop Your Portfolio” part of the homescreen. Then choose “Import Key”. Rigorously sort every phrase of your restoration phrase because it seems in your information. Every phrase have to be added within the order by which it seems. Faucet “Import Pockets”. Your pockets ought to seem within the new system inside minutes.
Step 4: Confirm your stability
As soon as the seed is imported, confirm your stability to make sure all your funds seem as they need to within the new pockets platform.
Step 5: Backup your new pockets
Should you’ve imported your key to a brand new pockets supplier, familiarize your self with all of the backup choices obtainable to you. If you’ll be transferring your funds to a brand new key, make sure that to file your restoration phrase!
FAQs about importing keys
Is sweeping and importing keys the identical factor?
No, sweeping a pockets, usually a paper pockets, means you might be primarily transferring all funds from one pockets to a different. Importing keys maintains the stability
How do I discover my restoration phrase?
This may fluctuate relying in your pockets supplier. It’ll sometimes reside in your settings or backup space of your pockets. Throughout the BitPay Pockets use the next steps: Faucet into your pockets, Faucet the three dots within the higher proper nook, then choose “Key Settings”, navigate to “Backup”. Your restoration phrase will seem one phrase at a time, supplying you with the prospect to file every phrase rigorously.