Losing hardware or a phone wallet in which digital bitcoin is stored is difficult but it shouldn’t be fatal. Recovering your bitcoins by back up with a private key is an easy exercise. Have you ever faced this situation in your life? Or Are you ready to face this situation in the future? However, there are many things you should know before you start your wallet recovery process. If you are clever enough to save your bitcoin in a noncustodial case then it is easy for you to recover your lost bitcoin wallet and whether your device is mobile, desktop and hardware for all these wallet recovery process for all these devices are much the same. Seed phrase helps you in the recovery process, just look out the seed phrase and enter it in your replacement wallet, by doing this you will see your coins restored and appeared in your wallet within few seconds.
There are few exceptions in the recovery process because all the wallets don’t use the seed phrase in the recovery process, Hashwallet gives a separate recovery key and also a seed phrase, by combining these two you may able to see your funds recovered any your coins restored in your wallet and these recovery key and seed phrase must be saved in a separate file for safety reasons once the recovery codes saved securely they are deleted forever from the smartcard. When the handler loses his bitcoin wallet, he can combine these security reasons and rescue his funds in the old version of Hashwallet but the new Hashwallet creates the various keys to recover the funds. Zengo is one more wallet that provides keyless design for the recovery process.
When your wallet is lost or stolen, a third person may be able to access your private key, in that situation you may import your key in your new wallet, but it won’t prevent them from accessing your key, sweeping your private key surely prevent them from accessing your key. A private key is related to all public keys mathematically, created for every separate wallet and it can be represented as a sequence of numbers and letters.
When you import a private key into a particular wallet it is done by entering the memorable seed phrase or a key. In all the previous devices of the lost wallet such as phone, desktop, hardware, paper wallet the wallet may exist, this gives a risk of the wallet being found by a third person and money exhausted. It is safer to flounce your clandestine key into a new-fangled wallet you created. This helps to stop the transactions of the old wallet and empties its balance and sweeping the newly created public key pair that is known only to you. Many of the noncustodial wallets like Electrum, Trezor, Exodus, and Samourai permit you to sweep a wallet and draining the fund of old wallet and transferring its balance to a new one. If you are sure that your old wallet’s software has been removed or your old wallet has been devastated then you can simply import your key into the new wallet without any hesitation by using a bitcoin.com wallet.