Stolen/Lost phone

My phone was stolen/ I am getting a new phone. Will I still be able to use my same Valora account?

Yes! All the funds will be there, including everything you claimed on impactMarket. You will first need to make sure you have set up and written down your Valora Recovery Phrase. Then when you switch to your other device, download Valora and proceed through the account creation process again and click on the “I have an account” button when you see it. Then, use your Valora Recovery Phrase to restore your account.

I lost my phone and can no longer access my Valora account - what do I do?

If you’ve lost your phone or generally cannot access your Valora account, you’ll need the Recovery Phrase that you wrote down when you first set up your wallet. To restore your account, download Valora again and tap the “I have an account” option when you open the app. From there, you’ll be prompted to input your Recovery Phrase. Enter your Recovery Phrase, and you should see your balance and activity again!\

What is my Valora Recovery Phrase and why is it important?

Your Valora Recovery Phrase ensures that you will always have access to your Valora account. Without the Valora Recovery Phrase, no one (not even the Valora or impactMarket team) can access your account balance. You can obtain your Valora Recovery Phrase in Valora's Menu by selecting the Valora Recovery Phrase section. You will have 7 days after you first set up Valora to write down this Recovery Phrase after which Valora will not be usable until it is set up. This is a safety feature meant to prevent you from losing access to your funds. Remember to write down your Valora Recovery Phrase and store it somewhere safe, where it cannot be stolen and where you will always be able to retrieve it.

Why should I write down my Recovery Phrase?

Your Valora Recovery Phrase is the only way to restore your Valora account, and you are the only one who can access it. So, if your phone gets lost, stolen, or breaks, you will need a copy of your Valora Recovery Phrase that is not stored on your phone. Valora also disables screenshots and copy/paste them on the Valora Recovery Phrase screen, so remember to write it down and store it safely to ensure you can always recover your account.

To whom should I share my Recovery Phrase?

You may choose to share your Valora Recovery Phrase with an individual you trust as a safety precaution, but do not share the Valora Recovery Phrase with anyone unless you also trust them with your entire balance. Remember to treat your Valora Recovery Phrase like the most important passwords you own, and imagine you did not have the option to reset them.

Why can’t the Valora or impactMarket team access my lost Recovery Phrase?

Valora is a non-custodial software wallet. This means that only you hold or ‘custody’ your own Valora Recovery Phrase, and no one else can see or access this key. The Celo Network powering Celo Dollars (cUSD) is a decentralized blockchain. This means that it’s not solely owned or operated by any individual or company (such as Valora or cLabs), and recorded transactions cannot be erased or reversed. The good news is that with your Recovery Phrase only, you can restore your Valora wallet and balance.