Overview

What You Need to Know

This guide is designed to assist users in securely migrating their assets from an existing wallet to a new hardware wallet. If you are already using a hardware wallet, no action is required, as hardware wallet users were not affected by recent security incidents.

A hardware wallet keeps your private keys completely offline and is widely considered the most secure option available for self-custody. This guide will walk you through every step of moving your assets to a new hardware wallet. Take your time; your assets are not at further risk while you prepare for migration.

Before you begin, read these points carefully:

Do not delete the SecondFi app

Keep the app installed on your device. At least one of two things - the app or your seed phrase - will be required to claim your assets through the recovery process if your wallet was affected by the security incident. Deleting the app does not improve your security; it only removes a tool you will need later. If you have already deleted the app, do not lose your seed phrase. It is now the only way to access your assets.

Keep your existing seed phrase safe

Your seed phrase is the master key to your current wallet. Write it down on paper, store it securely offline, and do not share it with anyone. It will be required for the claims process even after you have migrated to a new wallet.

Stop using your existing wallet immediately

Do not send, receive, sign, or stake using your existing SecondFi wallet. Once you have completed this migration, treat the old wallet as inactive and conduct all activity through your new wallet only.  

What is wallet migration?

Wallet migration means moving your assets from one wallet to another. In this guide, you are moving your assets to a brand new hardware wallet that only you control. You are not deleting your old wallet - it will still exist on the blockchain - you are simply moving your assets to a different location.

Pre-Migration Checklist

Before you begin, gather and verify everything you will need.

What You Will Need

You must have your current wallet's recovery phrase or private key. This is typically 12, 15, or 24 words. You should have written this down when you first created the wallet. Do not take a screenshot; keep it on paper in a secure location. Make sure that only you can see it during the recovery process. You must also have a minimal balance to cover the transfer fees.

You will need a new hardware wallet device and its official companion application installed and ready. Download the companion app only from the official sources provided by the hardware wallet manufacturer. Visit the official websites directly and do not accept links shared with you. You will also need a secure internet connection.

Safety Verification Before Starting

Step 1 – Initialize Your Hardware Wallet

This step creates a brand - new wallet with a fresh recovery phrase directly on your hardware device. This will be your destination wallet for receiving transferred funds.

Understanding Your New Wallet

Your new hardware wallet will have a new, unique recovery phrase (typically 12, 15, or 24 words) that you must protect and store safely. It will also have a new public address where you will receive funds. This address will need to be updated on exchanges or other platforms. The balance will initially be empty until you transfer funds.

How to Initialize Your Hardware Wallet

Step 1.1: Connect Your Hardware Wallet

Connect your hardware wallet to your computer or mobile device according to the manufacturer's instructions.

Step 1.2: Select Create New Wallet

Launch the official companion application and select the option to set up a new device or create a new wallet.

Step 1.3: Generate Your Recovery Phrase

Your hardware wallet device will display a new recovery phrase. This phrase is generated offline on the device itself.

Critical Points:

• Write down each word exactly as it appears on the device screen.
• Do not skip words.
• Do not rearrange the order.
• Make sure no one but you can see the device screen.

Critical: Recovery Phrase Security

Your recovery phrase is the master key to your wallet. Anyone with this phrase can access all your funds at any time.

What you MUST do:

• Write it down by hand on paper. Do not type it, screenshot it, or save it digitally.
• Write it in order, numbering each word.
• Store it securely offline in multiple physical locations, such as a safe deposit box or a home safe.
• Keep it private. Never show it to anyone.

Do NOT store it:

• In email or cloud storage.
• In password managers.
• On your phone or computer.
• In photos or screenshots.
• In notes or documents apps.

If someone obtains your recovery phrase, they can drain your wallet permanently and irreversibly. There is no recovery and no undo function. A device PIN or app password protects access to your specific device or application, not the recovery phrase itself.

Step 1.4: Verify Your Recovery Phrase

The hardware wallet will ask you to re-enter or confirm certain words from your phrase to ensure you wrote it down correctly. Do this carefully using the device interface.

Step 1.5: Find Your Public Address

Once your hardware wallet is initialized, use the companion app to locate your new public receiving address. Verify that the address shown in the app matches the address displayed on the hardware wallet device screen. Copy or write down this address carefully.

Testing Your New Wallet

Before transferring large amounts, you must test the process with a small amount. Send a small amount of your funds (for testing purpose), verify it arrives successfully, confirm you can see it in your new hardware wallet, and only then transfer the remaining balance. This test protects against address errors and confirms the process works before moving significant funds.

Step 2 – Transfer Your Funds

This step involves sending your funds from your current wallet to your new hardware wallet. This is an on-chain transaction and cannot be reversed once confirmed.

Understanding the Transfer Process

Moving funds between wallets involves creating a transaction on the blockchain, specifying your new wallet's address as the recipient, signing the transaction with your current wallet's private key, broadcasting it to the network, and waiting for confirmation.

Pre-Transfer Verification Checklist

Before you initiate any transaction, ensure you have written down your new hardware wallet's public destination address. Confirm you have sent a small amount to test it and that it was received successfully. Verify you have copied that address carefully without typos. Ensure you understand the amount you are sending, are aware of network fees, and are using your personal, secure device.

Step 2.1: Open Your Current Wallet

Restore access to your current wallet into a wallet application using your recovery phrase. 

Step 2.2: Locate the Send Function

Look for the send, transfer, or withdraw function within your current wallet interface.

Step 2.3: Specify the Recipient Address

When the send screen appears, paste your new hardware wallet's receiving address into the recipient field.

Critical Address Verification:

Always verify the recipient address matches your new hardware wallet exactly. Copy your new wallet's address and paste it into the destination field. Do not type it manually. Carefully compare the pasted address with the original by checking the first five characters, the last five characters, and scanning the middle for obvious differences. Verify the address on your hardware wallet device screen as well. If they match, proceed; if not, do not send.

Common mistakes that cause lost funds include typos in the recipient address, copying an address from an unreliable source, pasting an old address instead of the new one, or transferring only one asset from a wallet that contains multiple tokens.

Step 2.4: Specify the Amount

Enter the amount you want to transfer. Be aware that network fees will be deducted from your balance. Most wallets will display estimated fees before confirmation.

Step 2.5: Review Transaction Details

Before confirming, review the sender address, the recipient address, the amount, the network fee, and the estimated confirmation time. If anything looks wrong, cancel the transaction and start over.

Step 2.6: Confirm and Sign the Transaction

Once you have verified everything, confirm and sign the transaction using your current wallet. This is the point of no return. Once confirmed, the transaction is broadcast to the blockchain.

Step 2.7: Obtain Your Transaction Hash

After confirmation, you will receive a transaction hash or ID. Save this hash to track the transaction status and verify receipt in your new wallet.

Step 3: Post-Migration Verification

After your transaction is confirmed, verify that everything completed successfully.

Verification Checklist

Step 3.1: Check Your New Wallet Balance

Open your hardware wallet companion application and navigate to the balance section. Look for your public address and verify the balance shows your transferred amount. Wait a few minutes if it shows zero, as there may be a display delay.

If the balance is different, confirm the exact amount transferred including fees, check your transaction hash on a block explorer, and verify it is fully confirmed.

Step 3.2: Verify Transaction on Block Explorer

Using your transaction hash, go to the appropriate blockchain explorer. Search for your transaction hash and verify that the sender address matches your old wallet, the destination address matches your new hardware wallet, the amount matches what you sent, and the status shows as confirmed or finalized. Take a screenshot or record these details for your records.

Step 3.3: Clean Up Your Old Wallet

Once you have verified funds arrived in the new hardware wallet, securely store the old wallet. Do not delete the old wallet immediately. Keep it in case you discover a missed asset, need to claim pending rewards, or need to close old positions. Your old recovery phrase should still be stored securely offline.

Migration is complete when your new hardware wallet shows the expected balance, the block explorer confirms the transaction as finalized, your old wallet is empty of the assets you intended to move, and you have backup records of your migration.

Frequently Asked Questions

Do I lose access to my old wallet after migration?

No. Your old wallet still exists on the blockchain and can be accessed with your original recovery phrase. You are not deleting anything, just sending funds to a new location. If you know your old wallet was compromised, it must not be used to receive any more funds.

What if I have multiple assets?

Each asset type transfers the same way, through transactions to your new wallet. Make sure your new hardware wallet supports all asset types you are transferring.

I sent funds to the wrong address. Can they be recovered?

If you sent to a wallet you control, you can import that wallet with its recovery phrase and move the funds back. If you sent to an unknown address, the funds are unrecoverable. This is why address verification is critical.

What if someone sees my recovery phrase?

Assume your wallet is compromised. Immediately move all funds to a new wallet by generating a new recovery phrase and creating a new wallet address. Use the migration process in this guide to transfer funds to the new address. Do not delay this step.

What is the difference between my public and private key?

Your public key or address can be shared freely to receive funds. Your private key must be kept secret, as it proves you own the wallet and can drain your account if compromised. Your recovery phrase is another representation of your private key.

Final Security Reminder

Remember the three golden rules of cryptocurrency security:

1. Your recovery phrase is your responsibility - store it securely. Reminder, we will never ask you for it. 
2. Never share your recovery phrase or private keys with anyone.
3. Verify addresses carefully before sending funds.

Updated on: 02/07/2026