When you have forgotten your password
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 4 min
In short
An exchange password can normally be reset by starting the process yourself on the official site. A wallet password is a different animal: without the seed phrase there is nothing to restore. Confusing the two leads to the wrong response, so first be clear about which password you have forgotten.
Key points
- An exchange password can be reset; a wallet password cannot be recovered
- A wallet can be restored on another device as long as you have the seed phrase
- Start a reset by opening the official site yourself, not from a link in an email
- Withdrawals may be restricted for a period after a reset
Definition
Being unable to recall the password used to access a service. The prospects for recovery differ fundamentally between an exchange, which holds accounts on its servers, and a wallet, which is controlled by keys you hold.
Draw the distinction first. An exchange or trading-app password can be reset after identity verification, because the operator holds your account. A wallet password unlocks keys encrypted on your own device; no one is holding it for you, so there is nobody to reissue it. That difference determines everything that follows.
For an exchange, open the official app or the official site from your own bookmark and start the reset from the login screen. The important part is not starting from a link in an email — 'please reset your password' messages are a phishing staple. Initiate the process yourself, then read the email that arrives as a result.
A reset generally requires you to receive the email and supply a 2FA code. If you stumble at either, the problem is bigger than the password: go to 'When your registered email address no longer works' or 'When you lose your 2FA device'. Once the reset completes, withdrawals may be restricted for a period as an anti-fraud measure.
For a wallet, there is no reset — there is restoration. Reinstall the wallet app on another device or the same one, restore using the seed phrase you stored, and set a new password. With the seed phrase, the assets come back. Without it, there is no remaining route to those assets; brute-forcing is not a realistic option. 'How to restore a wallet' covers the procedure.
Once you are past it, design out the failure. Use a password manager holding a long, distinct password per service. Keep the seed phrase alone on physical media rather than digitally, in more than one place. With those two habits, forgetting a password stops being fatal.
Watch out for
- · Anyone claiming they can 'crack and restore' a wallet password or seed phrase is a scam — an upfront fee first, then a move on whatever you have left
- · Do not click links in emails urging you to reset a password; open the official site yourself
- · Do not keep passwords in plain text in a notes app or a cloud document; a compromised device then loses everything at once
Frequently asked questions
I have my seed phrase but forgot my wallet password.
Then you can recover it. Reinstall the wallet, restore from the seed phrase and set a new password. Enter the phrase only inside the official wallet app, never into a form on a website.