Bitpie reminds you to backup 12 words. Did you do that? What will happen if you don’t backup the seed phrase?
In the cases that the seed phrase is lost, the seed phrase is backed up inappropriately or the phone installed Bitpie is lost, the cryptocurrencies will not be restored, simply speaking, the cryptocurrencies are lost!
If the seed phrase is disclosed or acquired by others, it is very possible the cryptocurrencies get transferred. Bitcoin is irreversible and anonymous. Once bitcoins are transferred, the probability to recover the coin is basically zero.
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What’s your Bitpie account seed phrase? While creating your account, it is required to back up 12 words, which are your seed phrase. It’s equivalent to your private key. Who has these 12 words, who owns your cryptocurrencies in your account.These 12 words is taken care by yourself. Once you lose them, you cannot recover them.
How could we take care of the 12-word seed phrase?
1.It’s better to write down the seed phrase. Make sure the writing is correct and clear. And store it in an extremely safe place in your home. See phrase cannot be stored through media such as photograph, software, email, cloud storages, etc.
2.Verifying seed: all users regardless of newbie or the experienced should verify the correctness of your seed phrase in the Setting-Verify Seed. Only ensure the correctness of your seed phrase can you continue the use of Bitpie.
3.For the account which has been installed in the Bitpie, please do not clear the data, recover the default setting, uninstall the Bitpie APP arbitrarily or format the cell phone. If you have cryptocurrencies in your Bitpie account, you should be more cautious.
4.Do not disclose your seed phrase to others. Do not expose your seed phrase to the media connected to the internet. For the account which seed phrase has been disclosed, do not store your coins in it. Anyone who ask you for the seed phrase is a scammer!
5.For the users who: lost the seed phrase, cannot pass the seed verification, did not take good care of seed phrase, please proceed as follows: find another cell phone, download and install Bitpie, back up the new seed phrase of the account, enter the Setting-Verify Seed to verify it, and transfer all the cryptocurrencies from the old account to the new account. From now on, do not use the old account for storage. However, do not log out the old account for you can receive forked coins.
About Bitpie seed phrase: Seed Management — Bitpie 0.2 documentation
http://docs.bitpie.com/en/latest/RegisterAndRecover/index.html
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