What happens to your crypto assets if you lose your smartphone? Tangem recovery methods, backups, and inheritance planning

Losing or breaking your smartphone is something that can happen to anyone.

For those who manage crypto assets or JPYC in a smartphone wallet,

“Will my assets disappear if I lose my smartphone?”

“Can I recover them if I have a Tangem card?”

“What happens if I lose one of my cards?”

“If something happens to me, can my family receive my assets?”

These are significant concerns.

In conclusion, if you are using Tangem, your crypto assets and JPYC will not disappear just because you lost your smartphone.

With Tangem, your smartphone is used as a screen to check balances and perform transfer operations.

Since the private keys used to move assets are managed by the Tangem card or Tangem Ring, you can regain access to your wallet by installing the Tangem app on a new compatible smartphone and scanning your card or ring.

However, if you lose all of your Tangem cards or have not prepared a backup, you may lose access to your assets.

This article explains how to handle the loss of a smartphone or Tangem card, how to recover if you forget your access code, how to store backup cards, and how to pass assets on to family members.

This article contains advertisements.

This article contains Tangem referral and affiliate information.

MAMORU may receive a referral commission if products are purchased through links or personal codes within the article.

The product price for the purchaser will not be increased by any referral fees.

Product prices, discount rates, supported assets, supported networks, inventory, and shipping conditions are subject to change.

Please check the official Tangem website for the latest information before purchasing.

Are crypto assets stored inside the smartphone?

Assets such as Bitcoin, crypto assets, and JPYC are not stored inside your smartphone or Tangem card.

Asset balances and transaction records exist on the blockchain.

What the wallet manages is the private key required to move assets on the blockchain.

In other words,

・Assets are on the blockchain
・Assets are moved by private keys
・The wallet manages the private keys

is the relationship.

Even if you lose your smartphone, you can regain access to your assets if you still have the Tangem card or backup method that uses the same private key.

With Tangem, the smartphone is the operation screen

With Tangem, you use the dedicated app installed on your smartphone.

However, you cannot move assets using only your smartphone.

For important operations such as sending funds, you must tap your Tangem card or Tangem Ring against your smartphone to sign the transaction.

Tangem officially explains that the smartphone is an interface for asset management, while the Tangem card or ring handles the private keys and transaction signing.

Therefore, losing your smartphone is not the same as losing your private keys.

If you lose your smartphone

Even if you lose your smartphone, you can generally regain access to your wallet as long as you still have your Tangem card or Tangem Ring.

The general process is as follows:

1. Prepare a new NFC-enabled smartphone
2. Install the Tangem app from the official store
3. Open the Tangem app
4. Tap your Tangem card or ring against the smartphone
5. Enter your access code
6. Check your balance and transaction history

Tangem also officially advises that you can regain access by installing the app on a new NFC-enabled smartphone and scanning your card or ring.

What to do immediately after losing your smartphone

If you lose your smartphone, you need to take security measures for the device itself in addition to recovering your Tangem wallet.

Find your smartphone from another device

Use the device search function on your Android or iPhone to check its current location.

Lock the device or erase its data if necessary.

Deactivate your SIM card

Contact your mobile carrier to deactivate your SIM card and line.

This is to prevent authentication codes sent via phone number from falling into the hands of third parties.

Change passwords for email and important services

If you have services logged in on your smartphone, consider changing the following passwords as well.

・Email
・Google or Apple accounts
・Banks
・Crypto exchanges
・SNS
・Cloud services
・Payment apps

Check your Tangem asset status

Install the Tangem app on a new device and check for any irregularities in your balance or transaction history.

Without the Tangem card and access code, a third party generally cannot move assets using only the smartphone.

However, since risks vary depending on your smartphone lock and Tangem app settings, please check as soon as possible after losing it.

If you lose one Tangem card

If you have set up two or three Tangem cards as backups for the same wallet, you can access the wallet using the remaining cards.

The official Tangem help center explains that the number of cards registered for backup corresponds to the number of copies of the private key.

For example, if you set up a backup with a 3-card set, all three cards act as keys that can access the same wallet.

Even if you lose one, you can still use the remaining cards.

Can I add a new card if I lose one?

Backup settings are configured during the initial wallet setup.

It is not always possible to add another new card as a backup to a wallet that has already been set up.

If you lose one card, you can continue to use the remaining cards as they are.

However, if there is a possibility that it was stolen, or if you are concerned because the number of remaining cards is low, you can create a new Tangem Wallet and transfer your assets from the remaining cards to the new wallet.

Tangem officially advises that if a lost card is stolen, transferring assets to a new Tangem Wallet is a recommended safety measure.

Can I deactivate only the lost card?

On the blockchain, backup cards for the same wallet use the same private key.

Therefore, it is generally not possible to delete the private key from only the lost card while keeping the remaining ones active.

If the lost card has fallen into the hands of a third party and there is a possibility that the access code is also known, it is safer to create a different wallet with a new private key and transfer your assets.

Once the transfer to the new wallet is complete, empty the balance of the wallet associated with the old cards.

If you lose all your Tangem cards

If you have set up your wallet without a seed phrase and lose all your Tangem cards or rings, you may lose access to your wallet.

Tangem's official help center states that if you lose all your Tangem devices, you will no longer be able to access your funds.

This is because Tangem does not hold the user's private keys.

Even if you contact Tangem support, they cannot recover your private keys or open your wallet.

Self-custody has the advantage that the service provider cannot move your assets without your permission.

On the other hand, it carries the responsibility that if the user loses all their keys, the service provider cannot recover them either.

If you have set up a seed phrase

Depending on the setup method, Tangem Wallet allows the use of a seed phrase.

If you have stored your seed phrase safely, you may be able to recover your wallet by entering the seed phrase into another compatible wallet, even if you lose all your Tangem cards.

However, for wallets created without a seed phrase, there is no seed phrase that can be retrieved later.

Also, saving your seed phrase in smartphone photos, emails, cloud storage, or note apps carries the risk of leakage.

Tangem officially advises that if you use a seed phrase, you should record and store it in a secure location.

If you forget your access code

Tangem Wallet uses an access code to prevent unauthorized access to your card or ring.

Even if you forget your access code, you may be able to reset it if you still have a backup card for the same wallet.

The general process is as follows:

1. Open the Tangem app
2. Scan the target card
3. Select 'Forgot code'
4. Enter a new access code
5. Scan another backup card for the same wallet
6. Confirm the new code

Tangem officially states that resetting an access code requires verification using another card registered to the same wallet.

Caution regarding access code recovery settings

Tangem Wallet has a setting that allows you to disable the access code recovery feature using a backup card.

If you disable the recovery feature, you may not be able to reset your access code using another card if you forget it.

If you disable recovery to increase security, please fully understand the consequences.

Since the procedure for when you forget your access code will change, be sure to check the latest official Tangem guidance before changing settings.

If you lose your Tangem Ring

Tangem Ring also allows you to access your assets from the remaining devices as long as you have a backup card registered to the same wallet.

The basic approach when you lose only the ring is the same as when you lose a card.

• Check if you still have your backup cards
• Check your balance and history
• If there is a possibility of theft, move your assets to a new wallet
• Store your remaining devices in separate locations

If you keep your ring and cards in the same place, there is a risk of losing them all at once.

How many backup cards do you need?

Tangem offers sets of two or three cards.

Considering loss, malfunction, fire, flood, or theft, the three-card configuration has the advantage of being easy to distribute.

For example:

・Card 1: For daily use
・Card 2: A safe place at home
・Card 3: Another safe location or with a trusted family member

This is a storage method.

Tangem officially recommends storing backup devices in different locations.

Do not keep them all in the same wallet

If you carry all three Tangem cards in the same wallet, you will lose them all if you lose your wallet.

Even within the same home, there is a possibility of losing them all at once due to fire or flooding.

Store them separately as follows:

・Card for daily use
・Stored at home with fire and water resistance in mind
・A trusted location separate from your home

However, when entrusting them to others, you must also consider the risks if the access code or usage methods become known.

Do not take photos of where the cards are stored

You might be tempted to take a photo with your smartphone so you don't forget where they are stored.

However, if your cloud or photo app is viewed by a third party, there is a risk that the storage location will be discovered.

Do not save card locations, access codes, seed phrases, etc., all together on the same digital device.

Preparing for fire, flood, and theft

Even if Tangem cards are highly durable, they are not immune to being lost.

Anticipate the following disasters:

・House fire
・Floods or tsunamis
・Building collapse due to earthquake
・Theft
・Loss during moving
・Accidental disposal by family members

Distributing backups to multiple locations is not only a measure against device failure but also a measure against disasters.

When replacing your smartphone

For a standard device change, you do not need to transfer the Tangem private key from your old smartphone.

Simply install the official Tangem app on your new smartphone and scan your card or ring to use it.

Please check the following:

・Does your new smartphone support NFC?
・Did you install the app from the official store?
・Can you scan the card normally?
・Are your balance and transaction history displayed?
・Did you check the network before sending funds?

If you are selling or disposing of your old smartphone, please factory reset the device.

Deleting the Tangem app does not erase your assets

Deleting the Tangem app does not erase your assets on the blockchain or the private key inside the card.

You can restore your wallet by reinstalling the app and scanning your Tangem card.

However, to avoid installing a fake app, always download it from the official app store.

Avoid installing apps from search ads or links on social media.

What happens if Tangem shuts down its service?

Tangem officially explains that their design does not require Tangem servers for crypto transactions, as it operates using the card or ring, your smartphone, and the blockchain.

However, there is no guarantee that the surrounding environment, such as future smartphones, operating systems, or app distribution platforms, will remain unchanged forever.

If you are holding assets long-term, please check the following points periodically:

・Does the Tangem app work properly?
・Can the card be scanned?
・Is the supported network being maintained?
・Can the backup card be used?
・Are there any important official announcements?

Can crypto assets be inherited by family members?

Crypto assets and JPYC may also be subject to inheritance as property.

However, if your family is unaware of the existence of the assets or does not know about the Tangem card or how to access them, they may be unable to access the assets.

Unlike bank accounts, wallet providers do not necessarily notify family members automatically.

For inheritance planning, both of the following are necessary:

・Legal inheritance procedures
・Technical methods for accessing the wallet

Things to prepare for passing assets to family

Communicate the existence of the assets

At a minimum, inform a trusted family member or executor that you hold crypto assets or JPYC.

Record the wallet you are using

Organize information such as "I am using Tangem" and the types of assets you are holding.

However, do not leave asset amounts or sensitive information in a place where anyone can see them.

Decide on the location of backup cards

Think of a system where heirs can access the cards when necessary.

If you leave them in a place where anyone can easily take them at any time, there is a risk of theft.

Leave instructions on how to operate them

Your family may not necessarily be knowledgeable about crypto assets.

It is helpful to briefly record the following:

・How to obtain the official Tangem app
・How to scan the cards
・How to check the balance
・To test with a small amount when sending funds
・Not to give sensitive information to support
・To consult with a professional if necessary

Wills and consulting with professionals

If the asset amount is large or there are multiple heirs, please consult with a lawyer, judicial scrivener, or tax accountant.

In the inheritance of crypto assets, being able to access them and being allowed to move them without permission are separate issues.

You must follow legal procedures.

Tangem officially explains that for crypto asset inheritance, it is important to organize wills, inheritance plans, designated successors, and access information.

The danger of keeping your card and access code in the same place

You might be tempted to put your Tangem card and access code in the same envelope so your family doesn't have trouble finding them.

However, if that envelope is stolen by a third party, there is a risk that your assets will be accessed.

Do not keep your card, code, and inheritance instructions in the same place; manage them separately, balancing security with ease of transfer.

Update your inheritance plan regularly

If the storage locations for your wallet, assets, or cards change, old inheritance notes will be useless.

Check the following items every six months to a year:

・Wallets you own
・Storage locations for backup cards
・How you manage your access code
・What you have explained to your family
・Wills and inheritance documents
・Exchanges you use
・Contact information and support channels

Beware of fake support scams

Fake support representatives may contact you, targeting people who are panicking after losing their smartphone or card.

Do not comply with requests such as the following:

・Please send your seed phrase
・Please tell us your access code
・Please install a screen-sharing app
・Please send a recovery fee in cryptocurrency
・Please move your assets to a specified wallet
・Please access a site to enter your private key

Even if someone claims to be official Tangem support, never reveal your private key, seed phrase, or access code.

Verify contact information yourself through the official website.

Checklist for when you lose your smartphone

・Used the device search function
・Remotely locked the smartphone
・Remotely wiped the device if necessary
・Contacted your mobile carrier
・Suspended your SIM card
・Changed important passwords
・Installed the Tangem app on a new device
・Checked your balance and transaction history
・Checked for suspicious transactions
・Confirmed the location of your backup cards

Checklist for when you lose your Tangem card

・Checked your remaining backup cards
・Checked your balance using the Tangem app
・Determined whether it was stolen or simply lost
・Confirmed whether your access code is known to others
・Created a new wallet if necessary
・Sent a small test amount to the new wallet
・Checked the old wallet balance after moving all assets
・Stored remaining backup cards in separate locations

Check Tangem Wallet

Personal code

PSNAMJ

If you enter the personal code "PSNAMJ" on the purchase screen, a discount may be applied to eligible products.

*This link and personal code are for Tangem referral/affiliate information.

*MAMORU may receive a referral commission if products are purchased through these links or codes.

*Prices, discount rates, eligible products, inventory, supported assets, supported networks, and shipping conditions are subject to change.

*Please check the latest information on the official Tangem website before purchasing.

*Using Tangem does not completely prevent losses due to loss, misdirected transfers, fraud, or leakage of secret information.

Summary

If you are using Tangem, your crypto assets or JPYC will not disappear just because you lose your smartphone.

You can regain access to your wallet by installing the Tangem app on a new NFC-enabled smartphone and scanning your card or ring.

On the other hand, you need to be careful about losing your Tangem card or ring.

If you have set up two or three backups, you can still use the remaining cards if you lose one.

However, if you lose all your cards or rings in a setup that does not use a seed phrase, you may lose access to your assets.

The important points are as follows:

・Set up multiple cards
・Do not keep them all in the same place
・Do not share your access code with others
・Check your balance and history if lost
・Transfer to a new wallet if there is a possibility of theft
・Verify operation when changing smartphone models
・Prepare a method for handing over to family members
・Do not give secret information to fake support

With self-custody, while you can manage your assets yourself, you also have the responsibility to protect your keys and backups.

Do not feel secure just by purchasing Tangem; make sure to prepare for card storage, what to do in case of loss, and inheritance methods.

A request from MAMORU

Tangem specifications, recovery methods, app screens, and supported devices are subject to change.

When actually performing recovery or changing settings, please check the latest guidance on the official Tangem website and the official app.

Never share your private keys, seed phrases, recovery information, access codes, passwords, or authentication numbers, even with someone claiming to be a support representative.

If you lose your card or ring, do not panic and contact self-proclaimed support on social media; instead, contact us through the official Tangem website.

This article organizes general wallet management and security information and does not guarantee the recovery, inheritance, or safety of your assets.