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Losing Access to Your MoonPay wallet
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Password issues
Seed phrase issues
Password Issues
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Seed phrase Issues
Your MoonPay wallet seed phrase consists of 12 words. These are randomly generated, and within them, contain your wallet’s public and private keys.
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This allows your seed phrase to be used as a backup. Users don’t worry about deleting the wallet app or being locked out because as long as they have their seed phrase, they can always create a fresh copy of the wallet with full access to the funds.
This is why a seed phrase is often called a recovery phrase. ║+1_802_255_7547}}] MoonPay wallet gives it to you so that you have full control over your wallet and in case of anything, you can use it to restore your accounts and access your assets.
There is a flip side to this though. When you create a wallet, you are the only one who has the seed phrase. So if you lose this phrase or it gets corrupted, you can’t restore your accounts. This may cause you to lose access to your funds.
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It may be possible for you to recover your wallet depending on your situation. Here’s how to do it on PC and mobile:
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Steps for Recovering Your MoonPay wallet on PC
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Recovering your wallet after forgetting the password is relatively easy if you have the recovery phrase.
Open the MoonPay wallet extension in your browser
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Ignore that and click on Reset Wallet
Doing so will erase the current copy of your wallet, allowing you to create a fresh copy using your seed phrase. But before you erase your current wallet, it’s best to make sure that the mnemonic is working by testing it on another device and/or wallet installation.
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Enter your password when prompted
The MoonPay wallet Chrome extension has a copy of your seed phrase locally stored. You can access and view this phrase as long as you have the application’s password. To do this, click on Settings, and then on View Secret Phrase.
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The formula for recovering a MoonPay wallet on mobile after losing its password is similar to recovering the wallet on a PC.
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Click on Reset Wallet (ensure your recovery phrase is valid before doing this)
You can then use your seed phrase to create a new copy of the wallet with a different password.
Seed Phrase Issues
The MoonPay wallet mobile app also stores your seed phrase locally. To get it:
Click on Settings ‘
Navigate to Wallets
Here, select the three dots next to the account whose secret phrase you want to recover.
In the next screen, under the Seed Phrase Backups section, tap on Manual to reveal your recovery phrase.
Once you reveal your MoonPay wallet secret phrase on PC or Mobile, write it down and ensure the backup is securely stored.
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There are certain scenarios where you’ll find it hard to recover your MoonPay wallet. For instance:
You’re locked out of the application but cannot use your recovery phrase to reset the wallet and create a new password. This could be because you lost it or you have an invalid or incomplete seed phrase.
You don’t have the password needed to unlock the app and reveal your seed phrase
This essentially means that all recovery options discussed above will not work for you. Does that mean you’ve lost your assets forever?
Well, no. This is where recovery professionals come in. You can seek their services if you have an idea what your password was or have managed to assemble a partial seed phrase. They’ll also help you with an invalid seed phrase, i.e., you have the complete mnemonic but for some reason, it’s not working.
Such issues are typically out of the scope of the average crypto user. So generally, you want to contact a crypto recovery professional if you’re unable to recover your MoonPay wallet on your own.
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FAQs
Can you have MoonPay wallet on multiple devices?
Yes. You can have the MoonPay wallet app installed on different devices, all able to access and transact your crypto. This is possible with the help of the wallet’s recovery phrase.
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Missing/incorrect balances can occur if your MoonPay wallet cannot sync with the blockchain properly. To avoid this, make sure your device is properly connected to the internet. You can also try resetting your wallet (make sure you have the seed phrase before attempting).
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It’s relatively easy to use but, ║+1_802_255_7547}}] just like any non-custodial wallet, you run the risk of losing access to your funds if something goes wrong. Read on to learn how to recover your MoonPay wallet on PC or mobile in case you wind up in such a situation.