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Your Parallax account holds your coins. Protecting it is the most important thing you can do. Unlike a bank, there is no password reset — if you lose access to your wallet or share your private key, your funds are gone forever. This guide explains the best practices for keeping your wallet safe.

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The Golden Rules

  • Never share your private key or seed phrase with anyone.
  • Back up your wallet in a safe place (offline is best).
  • Beware of scams and fake websites pretending to be Parallax.
  • If it sounds too good to be true, it is.

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Understanding Keys & Phrases

  • Public Address → Safe to share, others use it to send you LAX.
  • Private Key → Controls your funds, must remain secret.
  • Seed Phrase (12/24 words) → A human-readable backup of your wallet. Anyone with it can restore your wallet and steal your coins.

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How to Back Up Safely

1

Write it down

When you first create a wallet (for example in MetaMask), you’ll be shown a seed phrase.
Write it down on paper and store it in a secure location.
2

Make multiple backups

Keep at least 2–3 backups in different safe places (e.g., safe at home, safe deposit box).
Avoid digital-only backups like screenshots or cloud storage — these can be hacked.
3

Protect your password

If you created an account in the Parallax client, you set a password for the keystore file.
Back up this password alongside your seed phrase in a secure place.

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Common Security Mistakes to Avoid

  • ❌ Saving seed phrases in Google Drive, Dropbox, or email.
  • ❌ Taking screenshots of your wallet keys.
  • ❌ Sharing private keys in support chats or forums.
  • ❌ Downloading wallets from unofficial websites.

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Advanced Protection

If you plan to hold significant amounts of Laxes:
  • Consider using a hardware wallet (support coming soon).
  • Run your own Parallax node instead of relying only on third parties.
  • Use a password manager for encrypting and storing backups digitally.
✨ By following these steps, you’ll keep your wallet — and your LAX coins — safe.
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