Although you may be excited to start using your Blockstream Jade immediately, there are a few important things to remember during setup to ensure that your funds are kept safe.
Create a New Wallet During Setup
A key benefit of using a hardware wallet, like Blockstream Jade, is that the recovery phrase for your wallet is generated offline and never appears on an online device.
If you are currently using a software wallet in Blockstream Green and restore it to your Jade, you are missing out on this additional security measure.
Because of this, it is recommended to create a new wallet during Jade setup and send any funds in your Green wallet to the new recovery phrase that is generated.
Carefully Record your Recovery Phrase
The recovery phrase is absolutely necessary to access your funds if something goes wrong in the future (e.g. you lose or break your Jade, you forget your PIN, etc). When you are recording your recovery phrase, keep the following things in mind:
- Record the recovery phrase offline using a pen and paper to mitigate the risk of hacks.
Write clearly so you don’t misread it later on. Do not take a screenshot or store in a notepad application. - Be careful to use the correct spelling for each word. You will not be able to restore your wallet if any of the words are misspelled.
- Write down all 12 or 24 words. A 12-word recovery phrase is not usable with only 11 or fewer words.
- Keep the words in the correct order. If any of the words are out of order, Blockstream Jade will consider the recovery phrase to be invalid.
Test your Recovery Phrase (and Passphrase if Applicable)
Blockstream Jade is designed not to reveal your recovery phrase after it is initially shown during setup. Because of this, it is recommended to send a very small "test" amount of bitcoin to your wallet, then factory reset your Jade. This will delete your recovery phrase from Jade and you will need to restore it in order to access these funds.
1.
Setup and login to Jade, then receive a very small amount of bitcoin to your wallet.
2.
Factory reset your Jade to remove the recovery phrase after the bitcoin is received.
3.
Setup your Jade again, except this time choose to Recover a wallet when prompted. Type in your recovery phrase and login. If you are able to successfully restore your wallet and see the small test amount of bitcoin, you have confirmed your recovery phrase backup is correct and may proceed with sending larger amounts to Jade.
Store Your Recovery Phrase In a Safe Place
One of the most common ways people lose access to their Bitcoin or Liquid funds is by losing their recovery phrase. Also, if anyone gains access to your recovery phrase, they have one of the key pieces of information required to spend your funds.
When choosing where to store your recovery phrase, you should try to choose somewhere that is:
- Easy to remember.
- Secure from anyone else reading or getting hold of it.
- Safe from physical hazards like fire, water, natural disasters, and children.
Tip: Instead of writing down the 24 words on paper, you may prefer to record them on a Blockstream Metal or Blockstream Capsule so that your recovery phrase is extra-safe from physical hazards.