Tell me please, what to do when MAGNIFY WALLET is damaged?
Loss or damage of the USB flash card can affect only Cold Storage data that are controlled by you. The USB flash card does not affect access to the Magnify Public services.
If the USB flash card is damaged or lost, the following options remain:
1. If you have kept PRIVATE KEY as it was recommended upon installing the program on the USB flash card, you (and only you) can access your protected crypto monetary assets through the blockchain of your crypto currency. You can reinstall the application on another USB carrier and relocate your coins to the new Cold Storage via standard blockchain means.
2. If you are using our Safe service, which is highly recommended, it will request a special phrase containing no less than 12 words that encrypts your PRIVATE KEY. Following that, it will automatically install the program on the USB flash card, generate a new PRIVATE KEY and relocate your coins from an old account to a new one. It will also encrypt a new key with your special phrase.
If you are using the Safe service, the program will fulfill the entire operation by itself.
However, keep in mind that PRIVATE KEY and the Safe key phrase are stored by you, which means that if you forget the key while switching off the Safe service or if you forget the key phrase as well, we will not be able to restore your access. We do not keep your key phrase and Cold Storage PRIVATE KEY without your permission. You are entirely responsible for the safety of this information.