A new wallet: we’ll offer you a backup key
WalletWallet holders·Updated
Your wallet’s home offers a backup key on every visit. Nothing waits for it.
What you’ll see
After “Wallet created”, your wallet’s home shows “Add a backup key”.
- “Add backup key” starts three passkey prompts.
- “Not now” hides it for this visit. It comes back the next time you open your wallet.
Why add one
If you lose your wallet key and have no other key, you lose access to your money. Swaps has no copy.
A backup key is a second passkey for your wallet, kept somewhere else: another device, another password manager or a security key. It helps if you lose your wallet key, not if someone else has it. What it does.
Add money and Receive
They don’t wait for a backup key. The first time you open a new way to pay in, such as your address in Receive, Swaps asks for one signature with your wallet key: confirm your wallet key. Adding a backup key counts as that signature.
Money
Adding a backup key moves no money, and Swaps pays the network fee. Signing once to confirm it has no fee.
If you see
- “Confirm your backup key”: you added a backup key and haven’t signed with it yet. Choose “Confirm backup key”.
- “Can’t add a backup key now”, in place of the offer: Swaps can’t pay the network fee at the moment. Try again later, or contact support.
- “Reading your backup key”: right after you create your wallet, Add money and Receive wait a moment for this read.
- “Couldn’t read the network” · “Add money and Receive wait until we can.” A failed read, not a backup key step. Choose “Try again”.
Written by Swaps team. Updated 4 Nov 2026. Screens from Swaps. Names, amounts and times are examples.