1. What is BitMart Wallet?
BitMart Wallet is a self-custodial Web3 wallet integrated into the BitMart App, designed to provide users with a secure and seamless decentralized finance (DeFi) experience. As a gateway to the blockchain ecosystem, BitMart Wallet enables users to manage digital assets, trade on decentralized exchanges (DEXs), interact with on-chain applications (DApps), and explore a wide range of Web3 use cases.
2. What should I do if I forget my seed phrase wallet password?
Wallet passwords cannot be retrieved directly. The only way to reset your wallet password is by re-importing the wallet using your recovery phrase or private key and setting a new password.
If you forget your wallet password and do not have a backup of your recovery phrase or private key, the assets in your wallet cannot be recovered.
As a non-custodial, decentralized multi-chain wallet, we do not store user passwords and are unable to retrieve or reset them on your behalf. Please ensure that you securely back up your recovery information.
3. Do I need to pay network fees when using Wallet?
Yes. Network fees (also known as gas fees) are required when making blockchain transfers or interacting with smart contracts. These fees are used to compensate miners or validators for processing and confirming transactions. The exact fee amount varies depending on the blockchain network and current network congestion.
4. Is Wallet a self-custodial wallet? Who controls the assets?
Yes. Our wallet is self-custodial. Users retain full control and ownership of their assets, along with full responsibility for asset security and backup management.
5. I need to back up my seed phrase wallet?
Yes. You must own and control your recovery phrase or private key to manage the assets in your wallet. If you lose your recovery phrase or private key, all assets in the wallet will be permanently lost.
The seed phrase wallet supports user-managed backups, including cloud backups and offline storage. For security purposes, keys stored in the cloud are encrypted using a recovery password known only to the user.
6. Can I export my recovery phrase or private key?
For seed phrase wallets, users can export their recovery phrase or private key. Please store this information securely in an offline and private environment to prevent asset loss due to leakage or unauthorized access.
7. Why can’t I find my original account after importing a recovery phrase?
If the account you see after importing a recovery phrase does not match your expectations, it may be due to one of the following reasons:
- Incorrect recovery phrase: You may have multiple recovery phrases, and the one imported is not associated with the wallet you are trying to restore. Please verify and re-import using the correct recovery phrase.
- Derived account: The address you are looking for may be a derived account under the same recovery phrase. You can add a new account within the wallet to check whether the desired address appears.
- Incompatible wallet origin: The recovery phrase may have been generated by a wallet type that is not supported by our Wallet. In this case, we recommend importing it using the original wallet application where it was created.
8. If I enter an incorrect transfer address, can I recover my assets?
Once a blockchain transaction is confirmed, it cannot be reversed or refunded. If assets are sent to the wrong address, you may try the following options:
- If the receiving address belongs to another platform, contact that platform’s customer support to see if assistance is possible.
- If the assets were sent to a token contract address, you may contact the project team to check whether manual recovery is feasible.
Asset recovery depends entirely on the cooperation of the receiving party and is not guaranteed.
9. Do I still need to pay network fees if a transaction fails?
Yes. If a transaction is submitted to the blockchain and executed but ultimately fails, the network (gas) fee will still be charged. This is an inherent characteristic of blockchain networks.
10. What should I do if I lose my recovery phrase?
The recovery phrase and private key are the only credentials that allow you to restore your wallet and assets.
If your recovery phrase is lost and no backup exists, the wallet and its assets cannot be recovered, even if you still remember your wallet password.
We recommend thoroughly checking all possible backup locations, such as handwritten notes, offline screenshots, documents, or secure storage devices. Always complete a backup immediately after creating a wallet and store it securely.
