What happens if you lose your phone with your crypto wallet?

The other day I got to give a wallet installation workshop again. I've been doing this on and off since 2018.

This was my second workshop in Bansko, Bulgaria, where I helped a few #digitalnomads install their first #crypto wallet and send some $Dash to each other.

Crypto Safety & Security is my main focus when I teach beginners about Bitcoin, so in this workshop we discussed:

  • The difference between cold storage and hot storage
  • How to install a non-custodial wallet on a phone
  • What private keys are and what the 12-word mnemonic seed is for
  • How to send and receive cryptocurrency

After the workshop the participants had a full understanding of what it's like to be 100% responsible for their coins and how to recover them should they ever lock themselves out of their wallets or lose their phones.

If you ever give a workshop like this, I highly recommend allowing the participants to send actual coins back and forth, so they can get some practical experience with that and lose the fear of doing something wrong.

The Exodus wallet in particular makes this a lot of fun, with their special SEND and RECEIVE sounds. Check out the short clip above to see how much fun the participants had.

Exodus is also a fantastic wallet for beginners in general - not only because of their user-friendly UI, but also because of their exceptional customer service.


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