Backups are copies of your wallet’s 12-word Secret Recovery Phrase or Private Keys, which are required to restore access to an Ethereum wallet. Since wallets store the Private Keys that grant access to your assets and allow transactions on a blockchain like Ethereum, having a backup is essential. For instance, if you get a new iPhone, need to re-download Family on another device, or otherwise lose access to your Family wallet, you can recover your wallet and all the assets within it using your backup. Backups also protect you against hardware failure, theft, or accidental deletion of wallet software.
Best Practices for Wallet Backups
Unlike traditional web services, there is no “forgot password” recovery or two-factor authentication to recover your Private Key or Secret Recovery Phrase. If you lose your wallet's Secret Recovery Phrase, you won't be able to regain access. For that reason, Family provides three secure backup (recovery) methods to keep your keys secure. You can Backup your wallet with Pocket, Backup your wallet with iCloud, or Backup your wallet manually.