As digital assets become more valuable and widely used, backing up and recovering your wallet isn’t just about security anymore. It’s also a key part of the overall user experience. CoolWallet Go completely rethinks what “backup” should be. With advanced encryption and a smart cold wallet design, it gives you a secure and easy-to-use backup system, so you never have to choose between safety and convenience.
Contents
The Two Key Features of the CoolWallet Go Backup Mechanism
Advanced Security Design ｜Technical Details & Risk Protection
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ECIES Encryption Framework
CoolWallet Go uses the ECIES (Elliptic Curve Integrated Encryption Scheme) algorithm to fully encrypt the backup process, ensuring that your sensitive data remains unreadable during device-to-device transmission. -
Phone as a Passive Relay Only
The backup process only takes a few simple taps between the primary and backup cards. Your phone acts solely as a signal bridge and has no access to, or ability to decrypt, any sensitive data. Even in the event of loss or malware, your information remains completely protected. -
Pairing Password Protection: Blocking Unauthorized Devices
Before CoolWallet Go can connect with any new device, it requires the user’s custom pairing password. If the password is entered incorrectly five times in a row, the card will automatically lock, effectively blocking further attempts and preventing unauthorized access or tampering.
Optimized User Experience ｜Backup Without the Burden
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No need to write down recovery phrases. Just tap to back up
Backing up your wallet is as simple as tapping the primary and backup cards in sequence. The encrypted data transfer happens entirely between hardware devices. No typing, no recovery phrase, no risk of manual error. The process is quick, intuitive, and secure, making it easy to protect your assets without complicated setup. -
Guided backup during initial setup
When setting up CoolWallet Go for the first time, the app walks you through the backup process step by step. It also verifies whether the backup is successfully completed, ensuring you don’t miss any crucial steps. -
Backup card can instantly become a new primary card
Each CoolWallet Go can function as either a primary or backup card, but only the primary card holds signing permissions for transactions. If your primary card is lost or damaged, you can instantly promote the backup card to a new primary card through the app. The original primary card is then automatically downgraded to backup status. Since backup cards don’t have signing rights by default, even if stolen, they cannot be used to transfer funds, keeping your assets safe from misuse.
Architecture of the CoolWallet Go Backup System
Overview of Backup Methods
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Dual Card Setup｜Primary Card + Backup Card
The primary card has full transaction signing permissions and is used for daily crypto management. The backup card securely stores your private key and can be instantly promoted to a new primary card if the original is lost.
✅ This setup ensures your private key or recovery phrase never shows up on your phone or needs to be written down, significantly reducing the risk of key exposure. Card switching is seamless and doesn’t require wallet reconstruction or key re-import.
⚠️ Important Notes:
Store the primary and backup cards separately. If both are lost, the wallet cannot be recovered.
If either card is lost, immediately purchase a new one to restore backup protection and maintain asset security. -
Full Setup｜Primary Card + Backup Card + Handwritten Recovery Phrase
For users who need to restore their wallet on other platforms or apps, you can choose to manually write down the recovery phrase during the initial CoolWallet Go setup.✅ Provides greater cross-platform flexibility, ideal for advanced users or those managing multiple wallets
⚠️ Important Notes:
If you skip writing down the recovery phrase during initial setup, you won’t be able to do it later. The dual-card backup will be your only recovery method.
Restoring your wallet on a hot wallet app will compromise the cold storage security and increase the risk of private key exposure. Use the recovery phrase only as a last-resort backup, not for regular use.
Security Design of the Backup Mechanism
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ECIES Encryption:
CoolWallet Go uses ECIES (Elliptic Curve Integrated Encryption Scheme) to fully encrypt the data transfer between the primary and backup cards. A multi-layered encryption architecture safeguards your critical data, ensuring that even though the phone acts as a relay, it cannot decrypt or access any sensitive information. All private data is sealed within the card’s Secure Element and is never exposed to your phone, the internet, or the app. Throughout the backup process, private keys, recovery phrases, signatures, or any sensitive content are never displayed, maintaining the cold wallet’s offline security by design. -
Sensitive Data Stays Offline:
The backup process never reveals attestation signatures or uses the manufacturer’s public keys for verification. Your private key stays locked inside the card’s Secure Element and is never accessible, not even by CoolBitX or any third party. -
Pairing Password & Lock Mechanism:
To prevent unauthorized devices from pairing with your card, CoolWallet Go enforces a mandatory pairing password system. Users must set a pairing password during the initial phone pairing process. When a new device attempts to pair, the correct password must be entered. If the password is entered incorrectly five times in a row, the card will lock itself and block further pairing attempts.
Once locked, the card can only be used with its original paired device and cannot be connected to any new device, effectively eliminating the risk of unauthorized takeover at the source.⚠️ Risk Warning:
If all three of the following conditions occur at the same time, the private key stored in your card will become unrecoverable. The card will need to be reset, and your assets will be permanently lost:
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Pairing password entered incorrectly five times, resulting in card lock
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Recovery phrase was not written down
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Original paired device is lost or damaged
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Advanced Redundancy Strategies
It is recommended to purchase an additional CoolWallet Go as a secondary backup. This enhances long-term asset durability and provides greater flexibility in wallet management.
Real-World Use Cases of the CoolWallet Go Backup Mechanism
Loss or Damage of the Primary Card
Scenario:
The primary card is lost, damaged, forgotten, or its chip becomes unreadable, while the backup card is still available.
Solution:
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Go to Settings in the CoolWallet App, select “Replace Primary Card,” enter your pairing password, then tap your backup card to instantly promote it as the new primary card.
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Your wallet data, including assets and transaction history, remains intact.
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The original primary card will automatically be downgraded to backup status to prevent misuse.
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It is strongly recommended to purchase a new card to restore backup protection and maintain asset security.
Loss or Damage of the Backup Card
Scenario:
The backup card is lost or damaged, but the primary card is still available.
Solution:
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Purchase a new card, then go to Settings in the CoolWallet App and tap “Add Backup Card” to set it up as your new backup.
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Reduce usage of the primary card until backup protection is restored to avoid single-point failure risks.
Mobile Device Lost or Replaced
Scenario:
Your phone is lost, replaced, or you want to access your wallet on a second device.
Solution:
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Use either the primary or backup card to pair with the new device. The card used in this process will become the new primary card for that device.
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You’ll need to enter your pairing password for verification.
⚠️ If you forget the pairing password and enter it incorrectly five times in a row, the card will automatically lock and block any future pairing attempts.
Loss of Both Primary Card and Mobile Device
Scenario:
Your primary card and phone are both lost, but you still have the backup card.
Solution:
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Install the CoolWallet App on a new phone.
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Use the backup card to recover the wallet and promote it to the new primary card.
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You will be required to enter the pairing password for verification.
⚠️ If you forget the pairing password and enter it incorrectly five times in a row, the card will automatically lock and block any future pairing attempts. -
Once completed, you can continue using your wallet. The original primary card will no longer have signing authority.
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It’s strongly recommended to purchase a new card and set it as the new backup to maintain complete protection.
⚠️ Loss of Both Primary and Backup Cards
Scenario:
Both the primary and backup cards are lost, but the mobile device is still available
Solution:
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Wallet cannot be restored or transferred
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If the recovery phrase was not written down during setup, there is no way to recover the wallet or assets
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You can only reset the wallet and create a new address. Assets tied to the lost cards will be permanently inaccessible
FAQ – CoolWallet Go Backup Mechanism
Q1. What happens if someone finds my primary card? Can they access my assets?
No. CoolWallet Go uses a multi-layered security design that prevents unauthorized access. The primary card cannot function on its own. It must pair with your original mobile device. If someone tries to pair it with a new device, they’ll be prompted to enter the pairing password. Entering the wrong password five times will lock the card.
Q2. Do I need to write down the recovery phrase? What happens if I don’t?
CoolWallet Go is designed to support safe recovery using the dual-card setup alone. However, if you choose not to write down your recovery phrase and both the primary and backup cards are lost, your wallet cannot be recovered. It’s strongly recommended to store the primary and backup cards separately or purchase an additional backup card for extra redundancy.
Q3. Can I use CoolWallet Go on a new phone or another device?
Yes. Simply re-pair your primary or backup card with the new device using the pairing password. If the password is entered incorrectly five times, the card will be locked. Be sure to store your password securely.
Q4. What if I lose both the primary and backup cards? Can I still recover my assets?
Not unless you wrote down your recovery phrase during setup. CoolWallet Go keeps your private key securely within the card’s chip and does not allow third-party recovery. Without a recovery phrase or backup card, your wallet and assets cannot be restored. It’s critical to safeguard at least one backup card or securely store your recovery phrase as a last resort.
Q5. What should I do if I forget my pairing password?
If you forget the pairing password,you won’t be able to pair your card with a new device. If you can still access your original device, immediately create a new wallet and transfer your assets to it. If the original device is also lost and you don’t have the recovery phrase, your assets cannot be recovered.
Q6. Can I use one CoolWallet Go backup card for multiple wallets?
No. Each CoolWallet card corresponds to a unique wallet and private key. To manage multiple wallets, you must set up a dedicated primary and backup card pair for each wallet.
Q7. Can I restore my CoolWallet Go wallet to another wallet app like MetaMask?
Only if you manually recorded the recovery phrase during the initial setup. However, doing so forfeits the cold wallet’s offline security advantage and increases the risk of private key exposure. We recommend using the recovery phrase only for emergency recovery and not for daily use in hot wallets.
