Your recovery phrase (also known as a private key) exists so that you can activate your Wallet on multiple browsers and devices along with being able to recover access to your wallet.
The recovery phrase is your last line of defence. We cannot reset it for you.
If you lose your recovery phrase, you have essentially lost your wallet and all funds associated with that wallet. Please be sure to keep your 12-word recovery phrase safe.
What is a private key?
Private keys, also known as a "seed phrase", "recovery phrase", or "mnemonic phrase", are a string of numbers and letters that are unique for each account. They are used to generate the public keys and these public keys are used to generate the public addresses you use to receive cryptocurrencies.
When you activate a wallet on your laptop using eg Chrome browser, this is the only place you can access it. If you want to access it on a different browser, or on another device, you will need to use that recovery phrase again.
If you send your private key to someone, they now have full control of your account.
Mary wants to transfer Tom some Kinesis gold (KAU). Tom sends Mary his private key.
Mary now has the seed phrase which would allow her to access ALL of Tom's funds in his wallet.
Safety and best practice
We recommend not storing your 12-word recovery phrase on any online device, and ideally that you record it physically and store it in an accessible, yet secure location (e.g. in a security deposit box, on a digital device without internet access). Consider making a durable copy of your seed phrase eg paper can be subject to water or fire damage. Do NOT store your recovery phrase on the same device your wallet is activated on.
You and only you are responsible for your security.
- Be diligent to keep your private key and password safe.
- If you lose your private key or password, no one can recover it.
- Access your account or send your funds for you.
- Recover or change your private key.
- Recover or reset your password.
- Reverse, cancel or refund transactions.
Can I change or reset my 12-word recovery phrase?
No. Your 12-word recovery phrase can not be reset or changed. Once it’s set, it is set for life. If you lose your 12-word recovery phrase, you have lost control of your wallet.
If you lose your recovery (seed) phrase, you will still be able to access your Kinesis account (currency accounts, exchange, card and profile) via your email and password. You will be able to access your wallet via any device and browser on which you have activated it previously.
However, if you lose the device you activated it on, or clear the device/browser cache, you will lose access too.
You need the recovery (seed) phrase to activate/reactivate your wallet on any device and browser you want to access it with. If your e-wallet is attached to your Kinesis account (not a stand-alone wallet), you will be able to see a “read-only” view of your wallet (you can see your balances but will be unable to transfer them). your recovery phrase will be required to make transferring possible on other devices/browsers.
Kinesis will never ask you for your 12-word seed phrase.
Please contact firstname.lastname@example.org if you have received any messages or emails asking you for your seed phrase.