It is VERY IMPORTANT to have a backup of your Trust wallet, and be able to recovery your wallet in case you lose your smartphone or configuration.

When you create a wallet for cryptoassets, like with the Trust wallet app, it is as if you are creating a new bank, and you are the ONLY owner of the keys to the vault! If you lose access to the keys to your wallet, you will lose access to your cryptoassets (like MTB* tokens) and nobody else will be able to retrieve them for you.

But remember, the Trust wallet does not actually store your MTB* tokens or cryptocurrencies. In fact, the Trust wallet only stores the keys that allow you manage your tokens on the blockchain. So, if you lose your smartphone, or if it becomes unusable for any reason, you can always recover your keys by installing a new trust wallet and introducing your 12-word mnemonic recovery phrase.

Not only that, you are not limited to restoring your wallet with the Trust app. You can use the same recovery phrase to restore or access your tokens from other wallets, such as metamask.

So, the essential thing to remember is that you must always have a copy of the 12-word mnemonic recovery phrase stored in a safe place.

In this tutorial, we will look at three elements:

How to view your 12-word recovery phrase
Where to store your 12-word recovery phrase
How to recover your wallet with the 12-word recovery phrase

How can I view my 12-word recovery phrase?

When you create a wallet with the Trust app, you are immediately shown the 12-word recovery phrase and instructed to write this down and store in a secure location.

To make certain that you have followed these instructions, you are asked to demonstrate to the app that you know the words of the recovery phrase. So, when you created your wallet, you very likely were to have written down your recovery phrase.

There is one caveat to this: The early versions of the Trust wallet app in 2018 did NOT ask you to write down the recovery phrase, but instead created a backup file called a JSON keystore file.

If you DO NOT have a copy of your 12-word recovery phrase, it is imperative that create a copy now.

If you believe that your 12-word recovery phrase has been compromised and could be used by someone else, you should create a new wallet, and transfer your tokens and other cryptoassets to the new wallet.

To see your 12-word recovery phrase in the Trust app:

Step 1: Open your wallet

Select the settings "sprocket" at the bottom right of the screen.

Step 2: Select the Wallet menu from settings (the name of the default wallet will be different than "Comms")

Step 3: Select the information icon for the wallet that you want to view the 12-word recovery phrase:

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Step 4: Select "Show Recovery Phrase"

Step 5: Write down the 12-word recovery phrase in the numeric order it is shown below.

DO NOT take a screen capture of this phrase. See below for suggestions about WHERE you should store this 12-word recovery phrase.

Where should I store my 12-word recovery phrase?

Here is an interesting paradox. We want to keep secure our 12-word recovery phrase from prying eyes, yet we want to store it in a location that is itself safe, and accessible should we need it. So, where should we store our recovery phrases? Here are some suggestions:

On a piece of paper, stored in a vault - or on pieces of paper in different vaults.
This is always a good idea, but not fool-proof. If your wallet (the smartphone with the Trust app) AND your safe are lost in a fire, you will lose your assets.
To avoid the fire risk, we recommend this super-cool cryptosteel capsule. You might even want to bury one of these somewhere under your vineyard!

In an encrypted digital file
Keeping your recovery phrase on your computer is never a good idea, unless two conditions are in place: 1) the recovery phrase is encrypted with a password 2) you have an offline backup of your computer. Of course, this requires that you remember a password for the encrypted phrase. In this situation, a password manager with a Secure Note function would be best. For mac users, the Secure Note of the Keychain Access app is a good option. The third party 1passwordsoftware is also a good alternative.

Remember, you can create as many wallets as you like. People that hold a large number of cryptoassets tend to create multiple wallets and store their recovery phrases in different ways, thus insuring that if one wallet is compromised, not all assets are lost.

How can I recover my wallet with the 12-word recovery phrase?

If you have lost access to your wallet you can recover the wallet with your 12-word recovery phrase. For example, you smartphone has died or was stolen.

Simply install the Trust wallet app on a new phone, and rather than create a new wallet, select the option to recover a wallet

Select the wallet type you initially created (either Ethereum or Multi-Coin wallet)

Introduce the Recovery Phrase, and select Import.

If you only wish to recover a single wallet, without reinstalling the entire app, you can also select the option from the settings screen, and follow the previous steps:

OK...but what can I do if I have lost access to my wallet, and I do NOT have my 12-word recovery phrase?

Please send an email to info@costaflores.com and we can schedule a call or chat to discuss the situation .

Why is this so fucking complicated?

We all agree that this process is more complicated than it needs to be, even though today it is much easier than it was only two years ago. Remember, you are helping build the new economy with these tools, and by taking charge of your wallet you are "owning the bank", so it is understandable that this is unfamiliar at first.

When you open an account at a traditional bank, you are trusting that entity with the keys to your funds. Here, you ARE the bank. And let's not forget how much time you have probably spent in the past managing your bank password, dealing with call centers, account validations and the like. But this will get easier as the cryptosphere evolves.

In the meantime, do not hesitate to reach out to the OpenVino community for help and questions on our telegram channel https://t.me/open_vino or by email: info@openvino.org