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 main screen, tap on the Funds tab at the bottom of the screen.
2. Tap on "Private wallets" in the Funds screen
3. Tap '+ Add' button in the upper right corner to add a new wallet.
4. Select Cold Wallet, set the wallet's name and the blockchain type. Tap on the Proceed button.
5. Shake your iPhone to generate the private key to your Cold Storage.
6. Get ready to put down your 12-word seed and tap on the Get Started! button.
7. Enter the words to verify your backup.
8. Make sure that everything is correct and tap on the Create Wallet button.
9. Congratulations! You have created your Cold Wallet.
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.