What is a Seed Phrase Wallet? 

A Seed Phrase wallet is a wallet that uses a set of 12-24 randomly generated keywords whose sequence provides access to the user’s private keys. The seed phrase is employed to protect users’ assets. Anyone with access to a seed phrase has control over the associated wallet, so wallet owners must keep their seed phrases in a secure location, preferably offline. 

What are the key advantages of the Seed Phrase Wallet? 

• Flexibility & Compatibility: Compatible with various wallet apps and platforms.

• Backup & Recovery: Offers a reliable backup and recovery system. Simply enter the correct seed phrase to restore your funds

• Freedom and Control: Grants complete control over your funds without relying on external parties or services. 

What are the differences between Seed Phrase Wallet, Keyless Wallet, and Bybit Wallet? 

Please refer to the Differences Between Seed Phrase Wallet, Keyless Wallet, and Cloud Wallet for more details.

Is the Seed Phrase Wallet supported on both the Bybit App and website?

Seed Phrase Wallets can be created and managed within the Bybit App, version 4.36.5 or higher. On the website, you can interact with dApps on supported networks, using WalletConnect, or download the Bybit Wallet extension on Google Chrome to create and manage your Seed Phrase Wallet. This dual approach provides flexibility when managing assets within the Bybit App and engages with a broader decentralized ecosystem on the website.

How many Seed Phrase Wallets can be created per Bybit account? 

You can create fifteen (15) seed phrases per Bybit account, but you may create up to unlimited sub-wallet addresses under this seed phrase. 

Do I need to back up my Seed Phrase Wallet before using it?

Yes, it’s recommended that you backup your seed phrase online, on your Google/iCloud drive, or offline, on a physical notebook. For enhanced security, you may store your seed phrase on your cloud drive and encrypt it with a password.

How do Seed Phrase Wallets manage seed phrases?

A Seed Phrase Wallet transcribes the private key — a long string of hexadecimal characters — into 12, 18, or 24 words, known as the seed phrase, which the wallet relies on to generate the private keys. The seed phrase can then be used to backup and later regenerate the private key to restore your wallet. 

How should I manage my seed phrase? 

You should store your seed phrase in a secure location, either on your cloud drive with password protection or offline, in a secure physical location. 

How many passwords are required to create a Seed Phrase Wallet?

Only one (1) password is required: the device password. However, if you choose to backup your seed phrase on the cloud drive, you will need to set a wallet recovery password. 

What is the role of the device password?

The device password is crucial for unlocking your wallet, especially during transactions and various activities. It is specific to the device linked to your account.

What should I do if I forget my wallet recovery password?

If you forget your recovery password, please note that: 

• Access to your Seed Phrase Wallet is still possible if you have access to your Seed Phrase. Simply reinstall your app to recover your wallet. 

• In the case of losing your Seed Phrase, Bybit cannot assist you in restoring your wallet. 

 

Note: It is recommended to securely store and remember your seed phrase and device password to ensure uninterrupted access to your Seed Phrase Wallet.

Why is it important to store the backup file on your cloud drive and recovery password?

Ensuring secure storage of your Seed Phrase is crucial to safeguarding your assets. Please note that Bybit cannot help find your Seed Phrase or reset recovery passwords. Therefore, it is important to guarantee the secure storage of your Seed Phrases and passwords to prevent any potential asset loss.

What should I do if I forget my device password or change my device?

If you forgot your device password or changed your device, you can follow these steps:

Step 1: Delete and reinstall your Bybit App.

Step 2: Log in to your account and navigate to the Web3 page.

Step 3: Import your seed phrase to restore your wallet 

Can I export my seed phrase?

Yes, you may export your seed phrase to your cloud drive or other locations. 

Which cloud drive supports the backup of Seed Phrase Wallet on iOS and Android systems?

For iOS, Seed Phrase Wallet backups are supported on iCloud.

For Android, Google Drive is supported. 

Can I create a Seed Phrase Wallet after already creating a Bybit Wallet?

Yes, you can create a Seed Phrase Wallet when you already have a Bybit Wallet. For a step-by-step guide, please visit here.

 

Note: Before creating a Seed Phrase Wallet, please ensure that your Bybit App is of the latest version. 

Why am I unable to receive and send funds to my Seed Phrase Wallet?

Please ensure that you have set up your device password before attempting to receive and send funds to your Seed Phrase Wallet.

Can I restore a deleted Seed Phrase Wallet?

Yes, you can restore it by manually importing your seed phrase.