Migrating your funds to a new wallet with a new secret recovery phrase (SRP), also known as a seed phrase or recovery phrase, is an essential step for maintaining optimal security and privacy. This process can help safeguard your assets against potential threats such as security breaches, compromised recovery phrases, or simply to refresh your security measures periodically.
Once a recovery phrase has been created for a wallet, it can't be altered or modified in any way. This means that if you've already established a recovery phrase or private key, you must retain it as is, since you can't change it. Understand the significance of these security measures in safeguarding your digital assets. Always ensure that your seed phrase and private keys are stored securely and backed up appropriately, as they're essential for accessing and managing your wallet.
Browser extension
To migrate your funds from an old wallet to a new one using the Phantom browser extension:
Step 1: Back up your recovery phrase and private keys
- Ensure that your current SRP and any imported private keys are safely backed up.
- Double-check the order and words of your SRP to prevent any errors during the recovery process.
Step 2: Create a new wallet
- Install a new Phantom wallet. If you are using our browser extension, you can either create a new browser profile or use another compatible browser.
- Download the Phantom wallet from our official website: phantom.com/download.
- Follow the onboarding steps to create a new wallet.
- Once complete, ensure that the new SRP is also safely backed up.
Step 3: Transfer your funds
- Copy the address of your new wallet.
- Send your funds from the old wallet to the new one.
Step 4: Securely dispose of the old recovery phrase
After successfully transferring your funds, feel free to securely dispose of the old SRP to ensure it can't be misused.
Mobile app
To migrate your funds from an old wallet to a new one using the Phantom mobile app:
Step 1: Back up your recovery phrase and private keys
- Ensure that your current SRP and any imported private keys are safely backed up.
- Double-check the order and words of your SRP to prevent any errors during the recovery process.
Step 2: Reinstall the app and create a new wallet
- Delete the current Phantom app from your device.
- Reinstall the app using the official links to the App Store or Play Store from our official website: phantom.com/download.
- During the onboarding process, create a new wallet and securely back up the new SRP provided.
Step 3: Add your old recovery phrase as a secondary account
After creating your new wallet, add your old SRP as a secondary account. This makes it easier to transfer funds between the old and new wallet accounts. You can do this by importing your previous SRP into the app.
Step 4: Transfer your funds
Transfer funds from the accounts derived from the previous SRP to the new wallet.
Step 5: Remove the old account
After successfully transferring your funds, remove the old account under the Manage Accounts tab in your settings.
Step 6: Securely dispose of the old recovery phrase
After successfully transferring your funds, feel free to securely dispose of the old SRP to ensure it can't be misused.