How to Create a New Wallet Before Transferring Pi
After passing KYC in Pi Network, there is a process to link it with the wallet you own. We wrote this article because many people lose their wallet passphrase during this process and ask for help in chats. If it’s before transferring Pi, you can create a new wallet and transfer it to the new wallet. If you lose your passphrase, create a new one, store the passphrase securely (setting up biometric authentication is also recommended), and then proceed with the transfer. If you forget it after transferring Pi, due to the nature of cryptocurrency, it cannot be recovered. Please store your wallet phrase very carefully.
Steps to Create a Wallet
You can create a new wallet using the Pi Browser. When you create a new wallet, a new passphrase will be generated. It is very important to store this passphrase securely.
Existing Wallet and New Wallet
If you have an existing wallet, accessing it requires the original passphrase. If you create a new wallet, it will be treated as a separate entity.
Security Check
Before creating a new wallet, download the Pi Browser from an official source and ensure your security settings are up to date.
Based on the above, it is possible to create a wallet even after transferring Pi, but when managing multiple wallets, special attention is required for passphrase management and security.
Passphrase Loss Issue for KYC-Passed Users and How to Deal With It
Losing the passphrase is a major problem for users who have passed KYC (Know Your Customer) in Pi Network. You will lose all the Pi you worked hard to obtain. Below, we explain how to manage your passphrase and what to do if you lose it.
Measures to Prevent Passphrase Loss
- Secure Storage: Write down your passphrase on paper and store it in a safe place. We also recommend using a password management app or storing multiple physical copies in different locations.
- Create Backups: Always create a backup of your passphrase in case your device is lost or damaged.
- Utilize Biometric Authentication: You can enable facial recognition (Face ID) or fingerprint authentication to simplify access to your wallet. However, biometric authentication is not a substitute for the passphrase, so the passphrase itself must also be stored securely.
What to Do If You Lose Your Passphrase
- Cannot Be Reissued: The Pi Network passphrase cannot be reissued. If lost, you will lose access to your wallet. Store your passphrase while you still know it.
- Login with Biometric Authentication: If you have set up biometric authentication yourself, you may be able to access your wallet using that method. This may eliminate the need to re-enter your passphrase.
- Create a New Wallet: If all other methods fail, creating a new wallet is the last resort. In this case, a new passphrase will be generated, so please store it securely.
It is extremely important to handle your passphrase carefully from the beginning.
Summary
In Pi Network, managing your wallet and passphrase is very important. When creating a new wallet, be sure to store your passphrase securely and create backups, and also pay attention to its relationship with your existing wallet. Furthermore, taking measures to prevent losing your passphrase is key to securely managing your cryptocurrency.