Social Recovery Wallet Definition - Glossary

A social recovery wallet is a crypto wallet that uses trusted contacts to help recover access if you lose your keys.

A social recovery wallet is a type of cryptocurrency wallet designed to enhance security and ease of access. It allows users to regain access to their wallet if they lose their private keys. This is done by appointing trusted contacts, known as "guardians," who can collectively verify and help recover the wallet. The user can set a specific number of guardians needed to initiate recovery, ensuring security through decentralization. This approach reduces the reliance on a single point of failure, making it easier for individuals to manage their digital assets without compromising on safety.