Devices break, and they get lost. If you have your recovery phrase, this is an inconvenience and not a disaster. This guide is part of our guide to hardware wallets explained.
Your device is not your money
Your funds are recorded on the blockchain. Your device holds keys, and your recovery phrase can recreate those keys on any compatible wallet. That is why the backup matters most.
What to do, by situation
| What happened | Risk | What to do |
|---|---|---|
| Broken or dead | Low | Restore on a new device |
| Lost at home | Low to moderate | Restore on a new device, and consider moving your funds |
| Lost in public | Moderate | Move your funds to a new phrase |
| Stolen | Higher | Move your funds to a new phrase now |
| Maker went out of business | Low | Restore on another brand. See compatibility |
If it is simply broken
- Find your backup.
- Buy a new device safely.
- Choose "restore" and enter your words on the device.
- Confirm that your balances and addresses look right.
See restoring a wallet from a seed phrase.
If it was stolen or lost in public
The PIN and any auto-wipe give you time, but they are not a guarantee, especially on older models. To be safe:
- Set up a new wallet, with a new phrase.
- Use your backup on a device you trust to reach your funds, if you cannot otherwise get at them.
- Send everything to your new wallet.
Think about what else was taken. If the thief got your written phrase too, this is an emergency. See what to do in the next hour.
Using your phrase for the first time
Be careful. This is the moment when scammers strike. People who post about broken wallets often get messages from "support". Only use the official app, and enter words on the device itself. See nobody will ever ask for your phrase.
If your balance looks wrong after restoring, see restoring an old wallet. Remember your passphrase, if you use one.
If you do not have your phrase
If the wallet still opens, move your funds immediately to a new wallet. If not, read what happens if you lose your seed phrase.
Prevent the next panic
Keep your backup in a separate place, and test it. Once you have a new device, do a yearly health check.