To help protect you from permanent loss, Blockrise offers an optional Back-up solution. Without Blockrise Back-up, Blockrise cannot recover your funds in case you lose your Seed.
How does it work?
- By activating the Blockrise Back-up, you add a secondary key (the "Back-up Key") to your wallet.
- Blockrise safekeeps this Back-up Key.
- This key is securely stored by Blockrise in a two-out-of-three geo-redundant system, ensuring that it remains protected under strict security procedures.
- In the event that you have lost your Seed, Blockrise can help you regain access to your wallet using this backup key.
Cost:
- Enabling Blockrise Back-up is free.
- A recovery fee is charged only if we need to restore access to your wallet. (see fee schedule)
This setup provides peace of mind while keeping you in full control of your assets. You remain the sole owner of your funds.
How do you enable the Blockrise Back-up?Activating the back-up is free, you can activate the Back-up in two ways:
1. During Onboarding
When setting up your Blockrise Wallet for the first time, you will have the choice between:
- Your wallet is secured with only the Blockrise Seed.
- Your wallet is secured with the Blockrise Seed and the Back-up Key for recovery protection.
If you choose the back-up service, the Back-up Key will automatically be added during your Seed generation process.
2. If You Already Have a Blockrise Wallet
You can activate the Blockrise Back-up at any time via the web dashboard:
- Go to the Back-up page via the menu.
- Click "Activate Blockrise Back-up" (green button).
- Read and accept the disclosures.
- Sign with your Seed to securely add the Back-up Key to your wallet.
Once activated, Blockrise can assist you if you ever lose your Seed.
How does the Seed recovery work?If you lose your Blockrise Seed, you can initiate the recovery process by contacting support@blockrise.com.
The recovery process:
- Identity verification – A support agent will verify your identity to ensure you are the rightful wallet owner.
- New Seed generation – You will generate a new Seed.
- Replacing the old Seed – Blockrise will use the back-up key to replace your old Seed with your new seed, such that you regain access to your wallet
If the Wallet recovery service is used, a fee is charged, see fee schedule.
After the recovery your Blockrise Back-up remains enabled.
FAQs What happens if I don’t enable Blockrise Back-up?Enabling Blockrise Back-up is completely optional. However, if you haven’t enabled Blockrise Back-up and you lose your Seed, there is no way to recover your wallet—Blockrise cannot restore access to your funds.
Yes, your Seed remains the critical key to your wallet, even if you activate the Back-up. It is required to:
- Sign transactions
- Connect your wallet to the Blockrise App
- Enable or disable the Back-up service
If you lose your Seed, these actions will no longer be possible. However, if your Blockrise App is still connected with a full setup, you can continue signing transactions using the app.
Who controls the Back-up Key?- Blockrise securely manages the Back-up Key and multi-signature system. Clients do not need to worry about storing or managing the Back-up Key.
- While Blockrise oversees the secure storage and management of the Back-up Key, it cannot access or use it for any purpose other than assisting in a verified recovery request. The system is designed to prioritize both security and user control at all times.
The Back-up Key is protected by a multi-signature system, meaning multiple keys must be used together for authorization. Specifically, the system requires two out of three available keys to sign and approve a recovery request. To maximize security:
- These keys are held by different key holders.
- They are stored securely in separate vaults across different locations.
This is an industry-standard security method designed to prevent unauthorised access while ensuring your ability to recover your wallet if needed.
What if someone tries to recover my wallet fraudulently?Blockrise has a strict identity verification process to ensure that only you can recover your wallet. Without successfully passing identity verification, no one (not even Blockrise) can change your Seed or access your funds.
No. Blockrise has no access to your funds. The Back-up Key can only be used for recovery purposes, it cannot be used to move, manage, or access your funds for any other reason. Additionally, due to strict compliance and technical safeguards, it is impossible for Blockrise to use the Back-up Key for anything other than its intended recovery function.
Yes, you can disable the Blockrise Back-up at any time through your dashboard:
- Navigate to the Back-up page.
- Click “Disable Blockrise Back-up”.
- Sign with your Seed to remove the Back-up Key from your wallet.
Once disabled, Blockrise will no longer be able to assist with recovery in case of a lost Seed.
Is the recovery process instant, or does it take time?- No, the recovery process is not instant. Due to our strict security procedures and the two-out-of-three multi-signature system, the recovery takes some time.
- This process ensures that your wallet recovery is handled securely, preventing unauthorised access while maintaining the highest safety standards.
- The recovery fee covers the cost of the storage of the multi-signature keys, secure verification and the authorisation process involved in restoring access to your wallet.
- To ensure your wallet can be recovered while keeping your funds fully protected, the Back-up system is designed for maximum security and multiple compliance steps must be followed, including:
- Identity verification to confirm rightful ownership
- Multi-signature approvals from separate locations