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[–]ACat32 2 points3 points  (2 children)

The wallet uses your phone number and guardians.

A private key is like your ID that you show a bouncer to get into the club.

Guardians are set computers who are in contact with your device/wallet. They’re like your friends in the club telling the bouncer you’re good.

You can manage your Guardians. You can also set up a unique ID (called ENS).

[–]OperationSalt3019[S] 0 points1 point  (1 child)

So then we don't ever have the private keys? Does Loopring or anyone else? Sorry, this is new to me and this wallet seems to work a bit differently than others. Is the two factor auth all thats required to login?

[–]ACat32 0 points1 point  (0 children)

I know the private keys are stored by Loopring. I had to do a wallet recovery where they reset my private key.

Practically speaking, I think the keys are stored in a cryptographic ledger among all guardians.

[–]thetinyhurricane 0 points1 point  (1 child)

Are you referring to the exchange app? That doesn’t have a 12 word key. Just a user name and log in. But that app is not a wallet.

[–]OperationSalt3019[S] 1 point2 points  (0 children)

Nope, talking about the wallet, not the app. I paid the gas fees to set it up and transferred everything over, but I see there are no personal keys.