General information about security

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 Are my keys stored in iCloud?

No, our service will only store a backup file in the cloud that can be used to recover your Web3 Wallet in case you change or lose your device. It’s important you never delete your backup file to avoid losing your data.


What is a smart contract?

A smart contract is an immutable digital agreement that runs in the blockchain to enable decentralized finance transactions, they’re written and executed automatically in code without the need for intermediaries and are visible in the blockchain.


Can I get my seed phrases or private keys from my Web3 Wallet?

The Web3 Wallet doesn’t have seed phrases, it uses another technology called MPC (Multi-party computation) to safely store your keys in different locations.


If I lose funds in dApps, can I request for a refund?

No, the Web3 Wallet is not responsible for any interactions with dApps (decentralized applications) in the blockchain, so make sure to only connect to dApps that you trust. 


How do I recover my Web3 Wallet if I change my device?

If you need to sign in to your account on a new device, you only need to follow the steps below.

It’s important to consider that you can only recover your Web3 Wallet as long as you’re using the same Operating system you used to create your account the first time.

To recover your Web3 Wallet:

  • Sign into your app
  • Select the Switch to Web3 Wallet banner in the home screen
  • Follow the recovery instructions to get synced with your recovery file
    • If you’re an iOS user, our service will fetch automatically your recovery file from iCloud
    • If you’re an Android user, sign into your Google account so our service can fetch your recovery file from Google Drive

This process should take some minutes to be completed so make sure you have a strong Internet connection from a safe network.

Remember to never delete and keep your backup folders safe in your Cloud. 


Can I restore my Web3 Wallet from a device with a different Operating system than the one I used at first?  

Unfortunately not, if you created the Web3 Wallet with an iOS device and you want to move your keys to Android or vice versa. At the moment, it won’t be possible for us to have access, even if you manually move the keys. 

If you’re planning to change Operating systems you can create a new wallet in your new device and send all your funds from your previous wallet to the new one.


Can I access my Web3 Wallet from another platform apart from your app?

You can only access your Web3 Wallet from your app. 


What happens if I lose access to my Cloud solution where my keys are stored (Google Drive or iCloud)? 

If you lose your access, we won’t be able to restore your Web3 Wallet since part of the backup is stored in the Cloud.

It’s important that you keep your Cloud account and password safe since you hold the custody of your funds.


What happens with my Web3 Wallet if I lose access to my account?

To access the Web3 Wallet you need to be able to sign into your account. If you lose it, you can restore the password with the standard procedures.


What happens if I lose my keys?

If you lose your keys, unfortunately we will not be able to access your Web3 Wallet and there is no way to recover the funds in it so it’s very important to keep them in a safe place.


Is the Web3 Wallet a self-custodial wallet? 

Yes! Once your Web3 Wallet is created, you will be the only owner of your assets and only you will have control over your funds to make transactions.


Can I delete the file created in my iCloud or Google Drive as part of the Web3 Wallet creation process? 

Yes, but we strongly recommend not to delete it since we won’t be able to restore your Web3 Wallet. It’s important to note that part of the backup shares are stored in the Cloud folder.


What should I do if I want to delete or terminate my Web3 Wallet in my app?

If you have funds in the custodial wallet and/or in the Web3 Wallet, you will need to empty the wallets before actually closing the account. If you hold zero funds in both wallets, then the account will be terminated without any prior steps.


Is the Web3 Wallet safer than other options in the market? 

Yes, you can feel secure storing your assets since the Web3 Wallet is backed up by some of the most advanced security protocols in the industry.


What happens if I lose my device where my Web3 Wallet is stored?

If you lose your device and log back into your account, you should easily be able to recover access to your Web3 Wallet. You should have access to the same cloud solution in which you stored your keys when creating the wallet. We will look for those keys and restore the access to your wallet. 

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