During the initial pairing process of imKey, one may encounter some confusing terms such as PIN code, binding code, and mnemonic phrase, which leads to the following questions:
- Do all of these need to be backed up?
- What is the use of having backups?
- What should I do if I forget to back up?
Hopefully, after reading this article, your questions will be answered.
A PIN code is a password used to verify the identity of the user of imKey. It stands for Personal Identification Number and is similar to the password used to unlock your phone. If someone finds your imKey and it doesn't have a PIN code, they won't be able to access it.
The PIN code must be set up before creating or restoring a wallet to prevent unauthorized use of the device, which is an effective measure to protect digital assets. Additionally, imKey uses a physical button to input the PIN code, greatly reducing the possibility of interception and ensuring the security of the input.
- You need to enter the PIN code to verify the device when it's turned on or when the screen is unlocked. If you forget it, you won't be able to recover it, so keep it safe.
- Do not use a PIN code provided by a third-party tool.
- To ensure the safety of wallet assets, if an incorrect PIN code is entered five times in a row, imKey will be forced to reset, and you will need to import the mnemonic phrase to recover your wallet.
The binding code is an eight-character code consisting of random numbers and letters used to bind imKey with imToken/imKey Manager. The purpose is to prevent unauthorized access to imKey. It is similar to how mobile banking apps bind phone numbers for added security.
If a mobile banking account is hacked, the app will detect the unusual login device and require user authorization or verification. Since imKey cannot be obtained, this effectively blocks malicious behavior that could lead to asset loss.
How to view the binding code:
If imKey is not yet bound, complete the binding process and keep the binding code safe.
If imKey is already bound, open the imToken app > Me > Wallet Management > imKey Management > "Binding Code" (requires Bluetooth connection to imKey).
If the original app is deleted, the identity is exited, the app is re-downloaded, or the phone is replaced, the binding code needs to be re-generated. If the binding code is not backed up, it cannot be recovered. However, don't worry, the binding code can be regenerated.
Make sure you have backed up the mnemonic phrase under the imKey hardware wallet address.
Restore the wallet on imKey using the backed-up mnemonic phrase.
Reconnect imToken via Bluetooth, and the binding code will be regenerated.
The mnemonic phrase is another form of a plaintext private key, originally proposed by BIP39 to help users remember and transcribe complex private keys.
Generally, the mnemonic phrase consists of 12, 15, 18, 21, or 24 words selected from a fixed word library. The sequence of the words is also generated according to a certain algorithm, so you don't have to worry about generating an address by entering 12 random words.
If anyone gets your mnemonic words, they can easily take away your assets. Therefore, when backing up your mnemonic words, you must pay attention to these four points:
- Please back up your mnemonic words properly and take anti-theft and anti-loss measures;
- Whenever possible, use physical media such as a mnemonic word box for backup, and do not take screenshots or photos and store them on networked devices to prevent theft by hackers;
- Verify the backup mnemonic words several times to ensure their accuracy. If one or two words are copied incorrectly, it will be very difficult to retrieve the correct mnemonic words later on;
- If you forget your PIN or binding code, you can create a new PIN and generate a new binding code by importing your mnemonic words.
In summary, it is important to protect your mnemonic words when backing up your assets and to use physical storage options whenever possible to prevent theft. It is also essential to verify the accuracy of your backup and to take steps to create a new PIN or binding code if necessary.
|Required to record?||Is it important?||Can it be retrieved?|
|PIN code||YES||YES||Yes. By importing the mnemonic phrase, you can reset and generate a new PIN code.|
Yes. Click on imToken application > Me > Wallet Management > imKey Management > [Binding Code] to view it.
Or, import the mnemonic phrase to generate a new binding code and retrieve it
|Mnemonic phrase||YES||VERY IMPORTANT||If you lose or forget the mnemonic phrase, you will not be able to retrieve it and will permanently lose your assets!|