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WALLET SETUP

Before you start the set-up process make sure that you have decided what you salt & phrase is going to be. The salt & phrase is the most important part of the Bitfi wallet infrastructure and is the wallet itself. Please read the Quick Start Guide that comes with the device to choose a proper phrase. Your device will use this as the input to calculate private keys as the output for whatever assets or features you are using.

Do not worry if you choose a salt & phrase that is not ideal; you can use it for practice and to get familiar with the operation of the Bitfi wallet infrastructure. You can create an unlimited number of wallets with the Bitfi device and you can always create a new salt & phrase.

Step 1

Go to the Dashboard https://www.bitfi.com/profile on computer or smartphone. The Dashboard is what allows you to view and interact with your digital assets in one place. It scans public addresses on blockchains and displays data returned by nodes (it is your private block explorer). On the Dashboard click “Setting up a new wallet? Create it here” under the CONTINUE button. Then go through the steps by entering your email address and choose a password. (Your password does not need to be particularly long or secure because someone gaining access to your Dashboard would not allow access to funds or to know that the funds that appear in the Dashboard belong to you.)

Step 2

Once you confirm your email and login to Dashboard you will be taken to the Initialization page. Now turn on your Bitfi device. Press Open Wallet and connect your device to WiFi. On the bottom of the device screen you will see the Device ID. Enter this Device ID into the Initialization page and click MAKE REQUEST. Your device will now receive an instant pop-up: ADD NEW ADDRESS?

Step 3

Press "YES, CONTINUE". You will now enter your desired salt & phrase. Both the salt & phrase are chosen by the user and both can be anything you desire. Since this is the first time that you are entering your salt and secret phrase, the device will ask to re-enter this information again to check that it matches your first entry. Your wallet is now created and ready for use.

To create additional wallets, treat the device as though its brand new and go through the above process. Your device is always in the exact same state as it was before you took it out of the box, even if it has been used for a long time.

IMPORTANT

If this is your first time using Bitfi we strongly recommend that you start by sending small test amounts to the wallet. You can start by sending $0.50 worth of Bitcoin or any other asset. Make sure that you are able to receive and send out test amounts multiple times. Once you are very comfortable with the operation of the wallet, you can begin increasing the amounts in your wallet. Do not send your life savings to the wallet if you are not 100% comfortable and familiar with its operation.

After you have set-up your wallet, we recommend that you read the IMPORTANT INFORMATION FOR USERS section in its entirety.

Most important of all, if you forget or lose your salt & phrase it is impossible for anyone including Bitfi to recover it. This is by design to ensure that only the knower of the salt & phrase has access to funds (much like a Bitcoin private key). Likewise, you must never reveal your salt & phrase to anyone. If someone gets your salt & phrase they can take all funds out of your wallet within seconds (also, just like someone getting your Bitcoin private key).