How Your Wallet Works

 

Your Wallet & Its Master Seed

When you create your Blockchain Wallet, a unique master seed is created. This master seed is the nucleus of your specific wallet, and is used to derive every individual bitcoin address that you’ll use to send and request bitcoin.  It is the same for other coins and tokens.

 

Client Side Encryption Means Only You Have Access to Your Wallet

We do not store your bitcoins, we only provide you with the software you need to store them yourself. Your wallet is encrypted on your device with your personal password. Your password acts as your decryption key to both lock and unlock your wallet — your wallet cannot be accessed without it. Because we don’t know or store your password (we can’t even reset it), only you are able to unlock and decrypt your wallet.

 

Decrypting your wallet couldn’t be easier

When you access your wallet with your Wallet ID (a unique identifier specific to your wallet) and password, your browser uses our API to download your encrypted wallet backup, before safely decrypting it on your device.

 

Your Access & Backup Phrase – The Failsafe

Your Access & Backup Phrase is made up of 12 random words, and is an encoded version of your master seed (and an industry standard). It acts as a backup and allows you to access your bitcoins, ether, and other coins regardless of the wallet software you’re using. In the event that you lose your password, or choose to use another wallet provider, your Backup Phrase is all you need to regain access to your funds.

Quick tip: Always remember your 12 word Backup Phrase that were generated while originaly creating your wallet. Write this phrase down and keep it somewhere safe.

Good to Know:

We cannot (and don’t want to, and we do not have access to): view your balance,  make transactions on your behalf, confiscate your wallet, or lock you into our service.