Your Secret Recovery Phrase (SRP) is a unique 12-word phrase that is generated when you first set up your wallet. Your funds are connected to that phrase. If you ever lose your password, your SRP allows you to recover your wallet and your funds. Write it down on paper and hide it somewhere, put it in a safety deposit box, or use a secure password manager. Some users even engrave their phrases into metal plates! (Storing your SRP in a physical, offline format eliminates the risk of hacking.)\u00a0<\/p>\n\n\n\n
With GPEX, control over your wallet belongs to the holder of a master key (that\u2019s YOU!).<\/strong><\/p>\n\n\n\n Not even the team at GPEX can help you recover your wallet and its accounts if you lose your Secret Recovery Phrase. As long as you keep this phrase safe and sound, no one can sign unauthorized transactions from your wallet’s account(s).\u00a0<\/p>\n\n\n\n There are a lot of benefits to using a self-custody wallet. For example:<\/p>\n\n\n\n The trade-off? Because a GPEX’s wallet is self-managed, the responsibility for keeping that wallet safe is entirely yours.\u00a0<\/p>\n\n\n\n Never ever share your Secret Recovery Phrase with anyone. Sharing your SRP with someone would be like handing over the PIN code to your bank card, or the keys to your house. It would give that person the ability to access and transfer all of your funds. The GPEX team will never ask you for it. If anyone or any website asks you to share it, they\u2019re trying to scam you.\u00a0<\/p>\n\n\n\n Here are a few basic security tips to help you keep your wallet secure <\/strong><\/p>\n\n\n\n What\u2019s the difference between a Secret Recovery Phrase and a password?<\/strong> Why do I need both?\u00a0 — wallet locally encrypts your secret recovery phrase with your password. That means that when you lock your wallet, no one can use your funds until you enter your password again. If you forget your password, you can regain access to your account with the SRP, as it\u2019s the key to access your wallet that only you hold. It\u2019s important to know that neither you or anyone else can\u2019t change or recover your seed phrase if it\u2019s lost. Please guard it well! Warning! Your Secret Recovery Phrase (SRP) is a unique 12-word phrase that is generated when you first set up…<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"yoast_head":"\n\n
How to reveal (and recover) your Secret Recovery Phrase<\/strong>\u00a0 — You\u2019ll be prompted to set your SRP and password when you first unlock wallet. If you lose it, you should be able to recover it if you remember your password AND you have a copy of your vault data. You can attempt to find your vault data (either locally on your computer or on a backup of the computer) using instructions.<\/p>\n\n\n\n
<\/strong>If you lose your Secret Recovery Phrase and<\/em> forget your password, there is no way to recover the phrase and access your account.
Don\u2019t share your SRP and private keys<\/strong>\u00a0 — This has been mentioned already, but it doesn\u2019t hurt to be thorough: anyone who has your SRP or private keys can remove tokens from your accounts. Never share your SRP or private keys with anyone \u2014 not even the GPEX team, even though we will never ask you for this information. If anyone claims to be a GPEX team member and asks you for this information, please report them immediately using our official support channels<\/a>.
If you have a large number of tokens in your accounts, consider getting a hardware wallet.<\/strong>\u00a0 — Hardware wallets<\/a>, like Trezor and Ledger, are commonly thought to be a safer way to store your tokens. They store the private keys offline, meaning you need to be in physical possession of the wallet to sign transactions — a considerable barrier to online scammers.<\/p>\n","protected":false},"excerpt":{"rendered":"