Can't See Your Cryptocurrencies in Your Bitnovo Wallet? Your Funds Are Safe on the Blockchain!

Imagine this situation: you open your Bitnovo app, access your self-custody wallet, and suddenly, it looks like your cryptocurrencies are missing or the balance isn't updating! This feeling can cause a lot of concern. However, we want you to know that, in the vast majority of cases like this, it's a synchronization or display issue, and your funds are completely safe on the blockchain.

Remembering Self-Custody: Your Keys, Your Crypto

The first and most important thing to remember is the nature of a self-custody wallet. Your cryptocurrencies are not "inside" the Bitnovo app. In fact, they are not in any app. Your cryptocurrencies reside on the blockchain, a kind of giant, transparent digital ledger that is distributed across thousands of computers worldwide.

What your Bitnovo wallet does is give you access to those cryptocurrencies on the blockchain, using your private keys, which in turn are derived from your seed phrase. Your seed phrase is the master key that gives you complete control over your funds, no matter which app you use to view them!

Why Can a Synchronization Problem Occur?

Sometimes, due to reasons beyond the application's control (such as temporary blockchain network congestion, issues with external synchronization services, or even a minor update on your device), your Bitnovo app wallet may have difficulty "reading" the most recent status of your funds from the blockchain. This is a display issue, not a loss of funds. Your crypto is still there, waiting to be seen.

The Solution for Peace of Mind: View Your Funds in Another Compatible App

Here's the good news and the big advantage of self-custody wallets. Because it's a standard self-custody wallet (HD wallet), your seed phrase can be used to restore/view your wallet in any other compatible wallet app that supports the HD (Hierarchical Deterministic) wallet standard. This will give you instant confirmation that your funds are intact and secure.

How to do it:

1. Download a trusted wallet app: There are many reputable and secure options available. Some of the most well-known ones you can explore (always research and download from official sources) include:

   • Exodus: Known for its user-friendly interface and multi-crypto support.
   • Trust Wallet: Popular for its ease of use and broad token support.
   • MetaMask: Ideal if your cryptocurrencies are on Ethereum or EVM-compatible networks (ERC-20 tokens).
   • Others like Mycelium, Electrum (for Bitcoin), etc.

2. Import your wallet using your seed phrase:

   • Once the new app is installed, look for the option to "Import Wallet," "Restore Wallet," or "I already have a wallet."
   • You will be asked to enter your seed phrase (the 12 or 24 words). Do this with extreme care, without anyone watching, and make sure you don't make any mistakes!
   • Once imported, the new application will start synchronizing and should display your cryptocurrencies.

Crucial Warning!

• Never share your seed phrase with ANYONE. No one from Bitnovo, or any support team, will ever ask you for it. If someone does, it's a scam.
• Make sure to download wallet applications only from official app stores (Google Play, Apple App Store) or verified developer websites.

A Note on "Derivation Paths" (Simply Put)

It's possible that when you import your seed into another app, you might not see all your cryptocurrencies immediately, or some might appear in different sections. This is due to something called a "derivation path." It's simply the way each wallet "looks" for addresses generated from your seed phrase. The most common cryptocurrencies (Bitcoin, Ethereum, etc.) usually use very standard "paths," so it's very likely you'll see them. If a specific cryptocurrency doesn't appear, it doesn't mean it's lost; it just means the new app might be looking for it on a different "path." The blockchain record is the ultimate truth.

At Bitnovo, our mission is to give you control. Knowing that you have the power to view and access your funds with your seed phrase at any time, using different tools, gives you immense peace of mind and reinforces the true essence of self-custody.