Wallet security and recovery

The assets in your MoonPay account are kept in non-custodial wallets. This means you have full control of them. MoonPay does not have access to your crypto or your recovery phrase.

What is a recovery phrase?

A recovery phrase (also known as a seed phrase) is a series of words that are randomly generated by a wallet. They are used to manage digital assets like cryptocurrencies. A recovery phrase acts like a password, giving you access, control and ownership of the cryptocurrencies stored in a wallet.

Recovery phrases are extremely important for:

• Security: Only the recovery phrase holder can access the associated assets or information.
• Authenticity: Recovery phrases verify the origin and integrity of messages and transactions.
• Ownership: In cryptocurrencies, a recovery phrase proves ownership and control.

Your MoonPay account has a single recovery phrase. MoonPay never has access to this recovery phrase, and you can choose to export it at any time. You will need this recovery phrase to access the corresponding cryptocurrency in your MoonPay account from outside of the MoonPay platform.

How can I keep my recovery phrase safe?

• Keep it secret: Never share your recovery phrase with anyone. Your recovery phrase gives you and only you access to your crypto.
• Use secure storage: Store your recovery phrase in a secure location that only you can access.
• Back it up: Keep backups in a safe place. If you’re copy / pasting your recovery phrase, or writing it down, make sure you record it accurately. Like a password, it needs to be correct to work, and you can’t alter the spelling or order.
• Be cautious of phishing: Only enter your recovery phrase into secure platforms that you know and trust. Be especially mindful of emails or messages that ask you to share or enter your recovery phrase. MoonPay will never ask you to do this.

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Note:

If your recovery phrase is stolen, your cryptocurrency will be lost forever. Unfortunately, MoonPay’s Customer Experience team can’t access your recovery phrase for you, nor can we move crypto on your behalf.

How do I export my recovery phrase from MoonPay?

On the MoonPay app

For mobile devices, follow the steps below:

1. Click on ‘View all’.
2. Click on the three dots (⠇) on top of the wallet.
3. Click ‘Show recovery phrase’.

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Note:

MoonPay does not have access to the assets in your account, or your recovery phrase. It’s your responsibility to store your recovery phrase safely.

What happens if I lose my recovery phrase?

If your recovery phrase has been lost or stolen, your cryptocurrency will be lost forever. So it's extremely important you keep your recovery phrase safe.

How can I import a wallet to another platform using my recovery phrase?

Importing is relatively easy, as long as you have access to your recovery phrase. To do this, follow the instructions below:

1. Go to the wallet platform you want to import to. Make sure that the platform you choose is safe and reputable.
2. Choose the “Recover Wallet” or “Import Wallet” option.
3. Enter your recovery phrase exactly as it is, maintaining the correct order and capitalization.
4. Your wallet will be restored.
5. It may take a few minutes to synchronize with the blockchain.

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Note:

These steps are a general guide, but the specific steps may differ depending on the platform you’re using. If you need any help, we recommend contacting the platform directly.