Cold Wallets are used to receive and save funds. Entering the 12-word seed security is required to spend or transfer funds from the cold wallet. Always keep your 12-word seed in a secure place. If you lose it, you will not be able to regain access to your funds.
To create a Cold Wallet follow these steps:
1. From the app's main screen, tap on Wallets or go to More, then tap Wallets to go to the list of your Private Wallets.
2. Tap the " + " icon at the top right corner of your screen to add a new wallet. Select Cold, then set the wallet's name and the blockchain type. Then tap on the button Add.
4. You will be given the 12-word phrase of your Cold Wallet. Write this phrase down and keep it somewhere safe. Then, click on the words from your 12-word phrase in the order you wrote them and tap the button Confirm phrase to complete the operation.
Congratulations! You are all set!
Private key is stored on your side, we do not have access to it. Make sure to keep your 12-word backup seed in a safe place. Please also note that Cold Wallet is only available in the Lykke iOS app.