In this article:
Understand why Best Wallet doesn’t provide a seed phrase, how Multi-Party Computation (MPC) replaces it, and what this means for your security.
Why doesn’t Best Wallet use seed phrases?
Traditional crypto wallets require users to store a seed phrase — a 12- or 24-word backup that fully restores access to their wallet.
While seed phrases offer a clearly defined form of private key management, they come with major risks. If lost, forgotten, or stolen, your wallet and funds could be permanently inaccessible or stolen.
Best Wallet removes this risk by using Multi-Party Computation (MPC) instead of seed phrases.
With MPC, your wallet’s private key is never stored in one place or fully exposed, therefore preventing single points of failure (such as losing your copy of your wallet's seed phrase).
Instead, it is split into multiple key shares, providing strong security without the burden of manually managing a seed phrase.
One of the most common causes of lost crypto funds is user error with seed phrases — they are either lost or leaked/stolen, leading to drained wallets.
How does Best Wallet secure my funds without a seed phrase?
Best Wallet uses Multi-Party Computation (MPC) cryptography to split your private key into two shares:
One share is stored securely on your device.
The other share is handled by Best Wallet and can only be accessed when you approve transactions.
Since neither share alone can be used to access your funds, no single point of failure exists. This protects you from risks like phishing attacks, accidental loss, or theft.
Read our in-depth guide on multi-party computation (MPC).
What if I lose my phone?
With Best Wallet, you can securely back up your multi-chain wallet(s) using cloud storage (such as iCloud or Google Drive).
Since your private key is never fully stored in one place, you can recover your wallet without needing a seed phrase. Simply restore your key share from the cloud, and your wallet will be accessible again.
Benefits of not using a seed phrase:
No risk of losing access: No need to write down or remember a seed phrase.
No risk of theft: Seed phrases are a common target for scams; MPC eliminates this risk.
Secure, seamless recovery: Cloud backups ensure you can regain access without having to find your seed phrase.
Need help with your wallet?
If you have any questions about how Best Wallet works, you can contact our support team at [email protected] or open a ticket on our support site.
Important reminder: Best Wallet will never ask for your private key or secret recovery phrase. Keep your account secure and never share sensitive information with anyone.