If you lose your phone or it’s stolen, or if you forgot your password, you could recover your wallet on a new or current phone by asking your Guardians to approve the recovery.
Guardians are people (e.g. friends or family with the YaYa Wallet App) you already trust to give them permission to help with approving your account recovery. You can add or remove them at the tap of a button on your app.
At least three of your nominated Account Guardians must have accepted your request to protect your account with Guardians. Then, all that is left is to activate them, and they will be able to help you recover your account when you need.
You’re always in control and can easily add or remove a Guardian at any time but you always need a minimum of 3 guardians to secure your account recovery. In order to reset your password, for 3 guardians we need 2/3 signatures. If you have 4 or 5 guardians, we need 3+ signatures.
For extra security, recovery is only activated after 24 hours of approval by your guardians. During those 24 hours you can ask Guardians to cancel the recovery process (for instance if you find your phone).