- Ethereum Wallet stores all your digital belongings and assets. So what can you do if you somehow forgot your password or couldn’t access it?
- There are some easy-to-get access to your Ethereum wallet, such as recovery phrases.
Your Ethereum holdings are stored in the Ethereum wallet, the most secure wallet with multiple layers of security and is next to impossible to hack. If you somehow lost your Ethereum wallet and could not recover it, there are some ways to recover it. But let’s first understand how secure your Ethereum wallet is and whether anyone can access it.
How Secure Is the Ethereum Wallet?
There are many protective layers to protect your Ethereum wallet from falling into the wrong hands, such as a PIN, 2-factor authentication, and a secret phrase. So even if you lose your Ethereum wallet, you don’t have to worry about getting hacked or falling into someone’s hands; it’s completely safe.
Steps to Manually Recover Ethereum Wallet
- Use Mew (both on iOS and Android)
- Click on Restore.
- Private keys and key stores are not supported, so you need to have your secret phrase.
- Enter your secret phrase and ensure it’s in proper order with no spelling mistakes.
- Your wallet will be recovered, and if you have multiple accounts, you can add them as well.
What if I Don’t Have a Recovery Phrase
It is important to note down the recovery phrase, which could be 12, 15, 18, or 21 words because recovering your wallet would be next to impossible if you didn’t have your unique phrase. So, it is always suggested to note down your recovery phrase so that even if you forget your Ethereum wallet password or PIN, you can still access it.
You must have received the recovery phrase through your email if you have used the web-based wallet. Check your emails thoroughly, even the spam folder. You can try contacting the wallet provider, who might help you recover your funds, but it is impossible in every scenario.
If somehow you have access to your private key, you can claim your fund balance on your wallet, but it would cost some transaction gas fees.
Tips to Secure Your Ethereum Wallet
- Keep multiple copies of your recovery phase. Also, keep the physical copy or write it somewhere in your diary, which nobody uses. Avoid storing the phrase in the cloud or digital format, as this could lead to hacking or difficulties accessing it if you lose cloud storage.
- Enable two-factor authentication, which would add an extra layer of protection. This would make it more difficult to hack your wallet.
- Use only recognized and reputed wallets such as MetaMask, MyEtherWallet, and so on. So your funds won’t get stolen or hacked.
Although we have briefly talked about the ways and steps you could use to get back your Ethereum wallet and the digital assets that contain it is necessary for you as an individual to take precautionary steps such as writing your PIN and secret phrase somewhere on a piece of paper and testing your recovery phrase by logging-in and out.