When you create a wallet, you also need to be prepared to restore it.
My friend ignored it and lost all his assets.
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Sorry to hear that. Thats why we have to always write down our wallet 12 words phrases first and keep them safe .
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OMG~ I guess there are people who are still very used to the centralised model where there is a central authority who will help u recover your password.
We need to bare in mind that blockchain solves problems associated with centralisation, hence various decentralised model are presented. However, we need to acknowledge and also take ownership, especially on our assets, that no one else has access to your wallet but you. It is important to write down the recovery phrases somewhere that only you have access to. I know some people keep them in a word.doc file, there are risks associated with this as your computer may be hacked.
For beginners who are new, I will advise them to keep their digital assets with reputable exchanges first, and slowly learn about blockchain technology and experiment with small amount until you are comfortable with this decentralised mode of doing things.
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The first and last important thing is to save your phrase and store safely… Like on a notepad, diary, book
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You dont only mind the present but also to the future. think twice and wise!
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Always have a backup of seed phrase or private key of your wallet when you first created it and store it on your harddrives or is some safe place but much better if you have a hardware wallet like trezor.
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First thing first👉 keep your seed phrase safe on a hard copy. It’s very important
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Back up phrase is so essential
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