Concordium Wallet for Web FAQ#
Why was the Concordium Wallet for Web made?
The Concordium Wallet for Web was created as a tool for developers to connect dApps to the Concordium blockchain and interact with it, and for users who are using dApps. It provides a simplified interface for users and introduces a secret recovery phrase, which simplifies any restoration of an account should you lose access to the phone/app. Also, this version supports easy portability of accounts between this and the Concordium Wallet for Mobile.
What are the features and benefits of the Concordium Wallet for Web?
Some of the functionality is the same as other Concordium wallets in that you can still send and receive funds. But the Concordium Wallet for Web uses a secret recovery phrase that allows you to recover your wallet should you need to replace your device. That same secret recovery phrase will also allow you to recover the wallet on, for example, Concordium Wallet for Mobile.
In Concordium Wallet for Web initial accounts are no longer created by the identity provider when your identity is verified, ensuring complete privacy of all your accounts. Going forward you create all accounts yourself in your Concordium Wallet.
What is a secret recovery phrase?
A secret recovery phrase is a “master key” that unlocks all of your Concordium accounts. When entered into the wallet in the correct order, the 24 words in the recovery phrase will recover all of the private keys you were storing on your original wallet and give access to all CCDs in the wallet. This means that even if you lose your physical hardware device, you’ll still have access to your blockchain assets. Secret recovery phrases are sometimes referred to as seed phrases, mnemonic phrases, mnemonic seeds and backup phrases.
How is a secret recovery phrase different from private keys?
Private keys allow you to send, spend, and delegate your CCDs.
Your secret recovery phrase gives you access to your wallet and all of the private keys in the wallet. You can think of a wallet as being like a password manager for your accounts. As long as you have your master password (the secret recovery phrase), you have access to all CCDs in the wallet.
What happens if I lose my secret recovery phrase?
If you accidentally throw away the paper your secret recovery phrase is written on, forget where you hid it, or do not pass it on to an heir, you no longer have the ability to recover your wallet and can lose access to your CCDs. If someone steals your secret recovery phrase, they can access your CCDs. If you lose your secret recovery phrase you lose access to your CCDs.
As long as you have your secret recovery phrase, you have your CCDs. If you break a device containing your wallet, you haven’t lost your CCDs. You can simply enter your secret recovery phrase into a newly downloaded Concordium Wallet for Mobile or Concordium Wallet for Web.
How can I keep my secret recovery phrase secure?
Don’t take a picture of it; if you save photos to any cloud provider this could potentially expose your secret recovery phrase so anyone could access your accounts and funds.
Don’t keep it with your device. If you lose your device, anyone who finds it could access your accounts and funds.
Put it in a safe location. Keep your secret recovery phrase in a safe location that is fireproof and waterproof, and that you will remember and can access relatively easily. There are companies that make devices, such as https://shop.ledger.com/products/the-billfodl that can safely store your secret recovery phrase.
Keep multiple physical copies of your secret recovery phrase in safe locations.
Do I still need to make backups of my wallet?
No. For the Concordium Wallet for Web and Concordium Wallet for Mobile you do not need to make backups. Your secret recovery phrase that you write down is the only way to recover your accounts and identities.
Can I migrate from the Concordium Legacy Wallet or Desktop Wallet to the Concordium Wallet for Web?
No. Because the way that keys are protected differs between the old and new wallets you cannot simply migrate. If you use the Concordium Legacy Wallet or Desktop Wallet but want to use the Concordium Wallet for Web, you should do the following:
Download the Concordium Wallet for Web and set it up so you have a secret recovery phrase, a verified identity, and at least one account.
Open the Concordium Legacy Wallet and send your funds from it to your new account(s) in the Concordium Wallet for Web.
Once you are sure that all of your funds have been transferred and you have no incoming transfers, you can delete the Concordium Legacy Wallet on your phone. You can also keep the Concordium Legacy Wallet and use both wallets. Just make sure that you continue to make backups if you continue using the Concordium Legacy Wallet.
Identity and account creation is disabled in Concordium Legacy Wallet.
Can I access my wallet on multiple devices with the secret recovery phrase?
Yes, you can access your wallet concurrently using Concordium Wallet for Mobile and Concordium Wallet for Web. You can recover your wallet in a device that uses either of these. Be aware that any names you have given to identities and accounts are specific to the device, so if you have used special names for them, they will not appear when you recover the wallet on another device. You can edit the account name and edit the identity name, if desired.
It is also important to note that if, for example, you add an account on one wallet that is recovered on two devices in parallel (from the same recovery phrase), nothing is dynamically updated across wallets from the same recovery phrase except balances. To get updates such as a new account or new identity, it is necessary to recover from your recovery phrase again; however you do not need to enter the recovery phrase again as the wallet will remember it.
Can I use my secret recovery phrase to restore my accounts in third party wallets?
At the moment Concordium identities and accounts are only supported in Concordium Wallets. However, Concordium expects to provide support for CCD and CIS-2 tokens in third party wallets in the future.
I have a secret recovery phrase from another wallet. Can I use that in my Concordium Wallet?
Reusing a secret recovery phrase in multiple wallets is not recommended, as it increases the risk of having all your wallets compromised. Concordium recommends that you generate a new secret recovery phrase when setting up a new wallet on Concordium. For advanced users who understand the risks involved it is possible to reuse a 24 word recovery phase from another wallet with Concordium through the wallet recovery process. The wallet will not recover anything if you reuse your secret recovery phrase from another wallet, but it will set your wallet up with the secret recovery phrase, and from there you can request a new identity and accounts.
I have a Concordium Desktop Wallet set up with a LEDGER device and a 24 word secret recovery phrase. Can I use that recovery phrase in my Concordium Wallet for Web?
Identities and accounts from the Concordium Desktop Wallet cannot be recovered in the Concordium Wallet for Web. It is also not recommended to use secret recovery phrases from cold wallets in “hot wallets” like the Concordium Wallet for Web, as that defeats the purpose of having the secret recovery phrase in a cold wallet, like the LEDGER devices.
Can I migrate from another wallet to the Concordium Wallet for Web?
No. Because the way that keys are protected differs between the earlier Concordium Legacy Wallet and Desktop Wallet, and Concordium Wallet for Web and Concordium Wallet for Mobile, you cannot simply migrate. You can, however, send money from one of the earlier wallets to accounts in your Concordium Wallet for Web.
You can have your wallet running concurrently on both Concordium Wallet for Web and Concordium Wallet for Mobile.
Can I access the same accounts on different devices?
If you are using Concordium Wallet for Web and the Concordium Wallet for Mobile, you can because the Concordium Wallet for Mobile also uses the secret recovery phrase. You simply enter your recovery phrase into the wallet to see the same identities and accounts on both. Note that the account and identity names are specific to the device and are not the same between devices.
What do I do if I forget my passcode on the Concordium Wallet for Web?
If you forget your passcode for your installed Concordium Wallet for Web, you will need to remove the extension in your internet browswer and reinstall it, choosing the option to recover your wallet. Use your secret recovery phrase to recover the wallet.