How self-custody works in THORWallet

Who holds your keys in THORWallet, what THORWallet can and cannot do, and what happens if you lose your phone or your backup.

Updated 3 min read
Short answer

You hold the keys. A seed wallet is controlled by your recovery phrase, and a vault by the shares on your own devices. THORWallet has no copy, so it cannot move, freeze or recover your funds.

On this page

THORWallet is self-custody software. Your coins are recorded on the blockchains, not held by THORWallet. The app is the tool you use to sign transactions with keys that only you control.

Who holds the keys

Wallet typeWhat controls the fundsWhere it livesYour backup
Seed walletOne recovery phrase. A wallet created in the app has 12 words.On your device, protected by your PINThe words, written down and stored offline
Multi-device vaultShares on several of your own devices, for example 2-of-3One share on each deviceOne backup file for each device, kept in separate places

A vault has no recovery phrase. THORWallet holds no share of a vault.

What THORWallet can and cannot do

THORWallet can:

  • Show your balances and prices.
  • Build a transaction and ask you to sign it.
  • Compare swap routes and show you the result before you confirm.
  • Answer your questions in the support chat.

THORWallet cannot:

  • See your recovery phrase, your private keys or your vault shares.
  • Move, freeze, cancel or reverse a transaction.
  • Reset your PIN or restore a wallet without your backup.
Warning

Support will never ask for your recovery phrase. Anyone who asks for it is trying to steal your funds. See Stay safe from scams.

The THORWallet Card is different: it is provided together with a regulated partner and needs identity verification. See THORWallet Card.

If you lose your phone

  • Seed wallet: install THORWallet on a new device and restore the wallet with your recovery phrase. See Restore a wallet from a recovery phrase.
  • Vault: as long as you still have enough devices to reach the threshold, you can keep signing. Each device has its own backup file, so you can restore the lost one. See Multi-device vaults.
  • No backup: if you have neither the recovery phrase nor enough vault devices and backup files, the wallet cannot be recovered.

If your phone was stolen, the app is still locked. If you think someone knows your PIN or has seen your recovery phrase, restore the wallet on another device and move your funds to a new wallet with a new recovery phrase.

If you sent funds to the wrong place

Blockchain transactions are final. THORWallet cannot return funds that were sent to a wrong address, to a token contract address or on the wrong network. Before you send, check the address and the network. See How to receive crypto.

If THORWallet is not available

Your funds stay on the blockchains. They do not depend on THORWallet servers. The recovery phrase of a seed wallet follows the BIP39 standard that many wallets use, so you can import it into another wallet. Which chains and tokens that wallet shows depends on that wallet.

View your recovery phrase or private key

  1. On the wallet home screen, tap the gear icon to open Settings.
  2. Under Security, tap Recovery Phrase.
  3. Tap View Secret Phrase and confirm when the app asks.

The same section has Private Key. Both rows appear only for a seed wallet. With a vault selected, Settings shows Vault Settings with Vault Backup instead. Look at these screens in private, with no camera pointed at your phone, and never store the words in a photo, a note app or an email.

Common questions

Can THORWallet recover my wallet if I lose my recovery phrase?

No. THORWallet never receives your recovery phrase and has no copy of it. Without the phrase, or without enough vault devices and backup files, a wallet cannot be recovered by anyone.

Is my recovery phrase stored on a THORWallet server?

No. The phrase is created on your device and stays there. THORWallet never receives it.

Can THORWallet cancel or reverse a transaction?

No. Once a transaction is confirmed on a blockchain, nobody can cancel or reverse it, and THORWallet cannot return funds sent to a wrong address.

What happens to my crypto if I delete the app?

Your funds stay on the blockchain. To use them again you install THORWallet and restore the wallet with your recovery phrase or your vault backup files.

Does a vault have a recovery phrase?

No. Each device in a vault keeps its own share and its own backup file. THORWallet holds no share and cannot sign for you.

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