This comprehensive guide walks you through creating and managing mnemonic phrase and private key wallets securely. Ensure your app version is 4.36.5 or later for optimal functionality.
Getting Started with Wallet Creation
Creating a Mnemonic Phrase Wallet
Step 1: Launch the Bybit App and log in.
- If you haven’t connected any wallet to Bybit Web3:
Navigate to Web3 → Click Create Bybit Wallet → Select Mnemonic Phrase Wallet. - If you already have a connected wallet:
Open Bybit Wallet → Choose the connected wallet → Click Add Wallet → Create Wallet.
Step 2: Set a strong device password.
Step 3: Backup your mnemonic phrase via:
Google Drive/iCloud Backup:
- Enter your recovery password.
- Set a restore password/private key.
- Confirm backup.
Manual Backup:
- Click the eye icon to reveal phrases → Copy manually.
👉 Learn advanced security practices here
Importing an Existing Mnemonic Wallet
Step 1: Go to Web3 → Click Import Existing Wallet → Select Mnemonic Phrase Wallet.
Step 2: Choose an import method:
- Manual Entry: Input phrases/private key → Click Import.
- Google Drive/iCloud: Ensure the backup account matches.
Note: Only wallets with assets will be restored during import.
Wallet Management Essentials
Resetting Device Password
- Uninstall/reinstall the wallet app.
- Import wallet using mnemonic phrases → Set a new password.
(Cannot recover lost phrases/keys.)
Viewing Mnemonic Phrases or Private Keys
- Mnemonic Phrases:
Navigate to Web3 → Wallet → Manage Wallet → Select wallet → Mnemonic Phrase. - Private Keys:
Select wallet → Private Key → Enter device password → Choose network → Copy keys.
Renaming a Wallet
- Go to Web3 → Click the dropdown menu → Manage Wallet.
- Click the edit icon next to the wallet → Modify Wallet Name.
Adding Wallet Addresses
- Web3 → Dropdown menu → Add Address → Continue.
- Enter device password → Confirm.
(Max 15 mnemonic phrases per account, with unlimited sub-addresses.)
FAQ Section
❓ Can I recover a wallet without the mnemonic phrase?
No. Mnemonic phrases are irrecoverable if lost—always back them up securely.
❓ How many sub-addresses can I create?
Unlimited sub-addresses per mnemonic phrase, but only asset-containing wallets import successfully.
❓ Is cloud backup safe for mnemonic phrases?
While convenient, manual offline backup (e.g., paper) is more secure against digital breaches.
👉 Explore wallet security tools
Key Takeaways
- Core Keywords: Mnemonic phrase, private key, wallet security, Bybit Web3, backup methods.
- Always store phrases offline and never share them digitally.
- Use hierarchical Markdown structure for clarity.
For further queries, refer to Bybit’s official documentation.
### **SEO Notes**
- **Title Optimization**: Removed "| Website Name" and non-2025 years.
- **Keyword Integration**: Naturally included 6 keywords (e.g., "mnemonic phrase," "wallet security").