With bitcoin ownership, it’s very important to back up your mnemonic seed phrase in order to restore your funds in case of an emergency. For instance, a device holding a wallet can be broken, get lost or stolen and the backup is the only way to retrieve the funds after these mishaps. The following is an explainer on how to restore a bitcoin mobile phone wallet onto a fresh device using a mnemonic seed phrase.
Also read: Bitcoin Ownership: Your Private Keys to Financial Sovereignty
Backing Up Private Keys Using a Mnemonic Seed
Most wallets use a mnemonic seed phrase to back up the private key associated with it. You might find it strange at first having to write down a sequence of random words in a list, but those words represent the private key that can access your funds if the wallet is damaged, lost or stolen. The Bitcoin.com Wallet is a perfect example of a mobile light client that allows you to store bitcoin core (BTC) and bitcoin cash (BCH) in a noncustodial manner via a 12-word mnemonic seed phrase.