General Security Tips
1. Protecting Your Recovery Phrase
Your 12-word recovery phrase is your ultimate access to your wallet if you lose your device or uninstall the Valet app. Here are essential tips to keep it secure:
- Write your recovery phrase on paper and store it in a secure location.
- Never store it digitally (no photos, screenshots, or cloud storage) as these technologies are susceptible to hacks.
- Do not share your recovery phrase with anyone. VALET SUPPORT WILL NEVER ASK FOR YOUR RECOVERY PHRASE
- Consider using a metal backup solution for long-term storage. Learn more about this here
- Keep multiple copies in different secure locations
Tip: Anyone with access to your recovery phrase can access your Bitcoin. Treat it like the key to your physical wallet.
2. Device Security
The Valet app on your device is as important as your traditional bank app. So keep your device and Valet app secure with these practices:
- Set up a PIN or biometric authentication for your device. Check out the Wallet Settings section to learn more.
- Ensure that your device's operating system is up to date.
- Install apps only from trusted sources. Only install the Valet app from our website.
- Use a secure internet connection when making transactions. It is best not to access your Valet app when connected to a public Wi-Fi
- Consider using a dedicated device for your Bitcoin wallet. This may not be convenient, but it is safer.
Tip: Regularly back up your wallet and test the recovery process to ensure you can access your funds if needed. Learn more about Backups here
3. Transaction Security
When making transactions, follow these security practices to ensure you don't lose your funds:
- Double-check all addresses before sending Bitcoin. Ensure that you have copied the Bitcoin address correctly to avoid losing your Bitcoin. If you send Bitcoin to an incomplete/invalid address or the wrong address, you cannot recover it.
- Start with small amounts when testing new features. If you're not sure about the functions of a new feature, test them with only small amounts of Bitcoin.
- Verify transaction details before confirming. At the last stage before you sign a transaction, verify that every detail is correct, including the Bitcoin address and the amount of Bitcoin you want to send.
- Be cautious of phishing attempts and scams. Valet Customer Support will never email you asking for donations or support!!!
- Keep your backup files secure and encrypted.
Tip: Bitcoin transactions are irreversible. Always verify the recipient's address and amount before sending.