Protecting your Sweat Wallet (2024)

Published in

Sweat Economy

2 min read

Jan 19, 2023

We have added a new feature to allow users to increase the security of their accounts by changing their secret phrase.

Your secret phrase is a list of words that acts as a master version of your private key; your private key is how you move funds through the blockchain.

Remember: not your keys, not your crypto. Sweat Wallet is non-custodial — you own your keys already. Changing your secret phrase simply upgrades your security, because your current secret phrase was sent to you via email. Email is generally pretty safe — but if it were to be hacked, your funds would be at risk. That is why we recommend that you follow these steps…

On the homescreen of Sweat Wallet, click the icon in the top left corner. This will take you to your profile.
Click ‘Create new secret phrase’. If you do not see this option, make sure to update your app to the latest version.

You will then see a screen that shows the following three steps. This is important!

Generate secret phrase — we will automatically generate you a new secret phrase — this is a list of twelve random words in a specific order
Save it somewhere safe — you must do this, because we will test you have accurately written down your phrase correctly
Next time you login, you will need to use the new secret phrase — your old secret phrase will be deleted, and you must now use the new one (login via the original email will not work either)

Never share your secret phrase with anyone. We will never ask you to send it to us.
Store it using a trusted password manager (like 1Password)
And/or write it down (keep this in a safe place, not in Google Docs, for example)

Remember: if you lose your secret phrase, there is nothing that we can do to help you retrieve your crypto.

The collapse of FTX has highlighted the importance of understanding custody. Exchanges, like any custodial service, hold the rights to the private keys of the crypto assets you store with them. That means that they have control of your crypto assets.