UNITED WALLET AND BACKUP SEED
United Wallets are running on a decentralised Ethereum blockchain, which has proven to be very reliable, safe and easy to program.
From the user’s point of view, some benefits of this system require an explanation.
When a customer downloads a wallet and deposits United, Ethereum, Tron or Bitcoin, then all of these cryptocurrencies are not actually stored in the server of United Token, but instead, are stored in the decentralised ledger. Bitcoins are stored in the BTC ledger, Ethereums in the ETH ledger and so on.
The creator of the wallet, in this case United Token, is not able to see your private keys or in other words, doesn’t have access to clients’ cryptocurrency wallets.
The big benefit of the system is, users can always feel safe that they are in charge of their funds and no one can limit their transactions or freeze funds.
With this freedom also comes a responsibility.
Users need to create a backup of their wallet and keep it safe themselves. In case a user loses or breaks their smartphone, where the wallet was stored and the user has stored their backup seed, which is usually a 12 random word code, then the user can just download a new wallet, enter the 12 words and get access back to his account.
But if the user has not made a backup of their wallet and has not stored their wallet seed (these important 12 words), then all their funds in the wallet will be gone forever.
IMPORTANT!
If you have not stored your wallet seed, then register yourself a new wallet and the backup seed will be the first thing you will see after registration.
- Write the seed on a piece of paper and keep it SAFE. Don’t make a screenshot of it, because it will get lost together with the phone, when your phone breaks or gets stolen. Also a screenshot is not the most secure way to keep it, since anyone who knows which wallet you use and what your seed is, will be able to steal all of your funds. Criminals try to often misuse the weak knowledge of the first time crypto fans and ask them their wallet seed while pretending to be a support office or offer you some kind of a prize. If someone asks you to share your wallet seed, it is guaranteed, that it is a fraud. If it happens, just walk away and report the real support.
- Transfer all your assets from old wallet to new wallet
- Delete the old wallet and keep your wallet seed SAFE.
If you found this article useful, then don’t keep it only to yourself. Share the knowledge with your friends.
If you have any questions then please send an email to support@unitedtoken.eu
We wish you a pleasant user experience.
