The Importance of Backups
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The Importance of Backups

Keeping your wallet safe, secure, and backed up is essential to wallet ownership. Here we’ll chat about why it’s important to backup your wallet and the different methods that you can backup with.

To Recap:

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We covered in our Get Started with Rainbow article the beginning setup of backing up your wallet. A wallet is permanent, and it's not like a login account to a traditional website like Facebook or Google. If you don't back up your wallet, then there is no way to recover it.

  • Your keys = Your coins, but that also mean that you need to back it up safely.

It’s highly recommended you ensure this process through before initiating a phone swap or switching to a new device. You can then using our Backup guide to learn more about restoring from a backup.

Backup using iCloud or Google Drive:

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In Rainbow, you can instantly backup your wallet using our Backup feature. When you initially signed up for Rainbow, you can choose to use the backup feature by default. If you opt-out but change your mind later on, you can always turn your backup feature on by following the steps below:

Step 1: You’ll head to SettingsBackup

Step 2: Select Back up to iCloud/Back up to Google Drive

Step 3: You’ll then create a password for your backup. Select a password you can remember, it can’t be recovered!

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Step 4: Once you input your password, you’ll click Confirm

Step 5: Your backup is complete! You can check if you have your backup feature turn on by viewing if the checkmark is green: ✅

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Backup Manually with your Secret Phrase:

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If you prefer to back up manually by securing your secret phrase on a piece of paper or other physical object, then you have that option too! Just make sure your secret phrase is secure in a separate location.

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Never ever share your secret phrase with anyone! Your secret phrase is the password to your wallet. Giving this secret phrase to someone will give them complete and total access to your wallet. Rainbow will never ask for this information, nor do we require it for any troubleshooting or help from our support team. If your wallet is compromised, Rainbow is unable to help with recovering your wallet.

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Even if you use our backup feature, it’s recommended you also back up manually. It never hurts to keep your secret phrase secure in addition to the iCloud or Google Drive backup!

How often should you backup?

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You should regularly check to be sure your wallets are secure and backed up. 💡 A good rule of thumb is, if you have to ask yourself when was the last time you backed up, it’s probably a good idea to double check.

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Additional Readings:

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