Wondering whether there’s anything you need to worry about with your crypto assets (also known as virtual currencies) when switching to a new smartphone?

Simply switching phones does not, by itself, cause your crypto assets to disappear.

That said, depending on the state of your two-factor authentication and registered email address or phone number, logging into your exchange account (the platform where you trade and hold your assets) or wallet could be affected — so it’s a good idea to review your settings beforehand.

This article walks through the points worth checking before you switch phones, so you can go into the process with peace of mind.

Read on to confirm whether there’s anything you personally need to do.

Your crypto assets aren’t stored on your phone

Crypto assets are not stored on your smartphone itself.

In general, crypto assets are managed under your exchange account, and your phone is simply the device you use to log in and operate that account.

Because of this, switching phones or reinstalling an app on its own will not cause your assets to disappear. As long as you can log in correctly on your new phone, you’ll be able to check your balance and trade just as you did before.

What you do need to pay attention to, however, is your login authentication method.

Two-factor authentication, SMS authentication, and authenticator apps can, depending on how they’re set up, be tied to a specific device. If you switch phones without accounting for this, you may end up in a situation where “you can technically log in, but the setup is a hassle” or “verification takes a long time.”

In other words, what matters isn’t whether your assets will disappear, but whether you’ll be able to log in smoothly after switching phones.

Points worth checking before switching phones

There isn’t much you absolutely must do regarding your crypto assets before switching phones.

That said, checking the following points in advance can significantly reduce the hassle after you switch.

Whether you can log in to the exchange

The first thing worth checking is whether you can log in to the exchange without issues on your current phone.

Since your crypto assets are tied to your exchange account, as long as you can log in, you’ll be able to use the account the same way on your new phone.

On the other hand, if you tend to rely on auto-login or haven’t logged in for a while, you may find you’ve forgotten your login details, which can leave you stuck when trying to log in after switching phones.

So first, try to recall your exact login information.

Then, try logging in to the exchange from another device, such as a computer. If you can log in without trouble, you’ll be able to use the exchange without any problems after switching phones.

Whether you have two-factor or SMS authentication set up

Next, check whether you have two-factor authentication or SMS authentication set up.

Two-factor authentication via an authenticator app can, depending on how it was configured, be tied to your physical phone.

Because of this, when you switch to a new device, the verification code may not be issued as-is, and you may need to reconfigure or migrate the setup. The same applies if you have SMS authentication set up — if you’re planning to change your phone number, checking this in advance is essential.

If your number changes at the same time as your device, you won’t be able to receive the verification code, which will require you to review your settings. Having both your old and new devices on hand makes this process much easier.

If you can use both devices before and after switching, migrating your authenticator app and confirming your settings will go much more smoothly.

What if you’re not sure about your login settings?

“I don’t remember whether I set up two-factor authentication…”

“I’m not confident which email address I registered.”

Quite a few people find themselves unsure about their settings in this way.

In that case, the simplest and most reliable approach is to just log in to the exchange and check the settings screen.

On most exchanges, once you’re logged in, the account settings page lets you check your login information — including your authentication method, registered email address, and phone number — all in one place.

If you check things yourself and are still unsure, or if you feel uneasy about changing your settings, you also have the option of contacting the exchange’s support desk. Reaching out beforehand means you can receive guidance calmly, which tends to be easier than dealing with it after you’ve already switched phones.

Summary

Switching phones will not cause you to lose your crypto assets.

However, it’s a different story if you lose track of how to log in to your exchange.

The state of your two-factor authentication, SMS authentication, and registered email address or phone number matters — if any trouble prevents you from logging in, you’ll need to spend time reviewing your settings after switching phones.

That’s why it’s reassuring to check the following before you switch phones:

  • Whether you can log in
  • Whether you know your authentication method
  • Whether your contact details are still usable

If you’re unsure about your settings, checking the exchange’s settings screen or reaching out to their support desk can help.

A little advance preparation is all it takes to keep using your crypto assets just as before, even after switching phones.

This article is for informational purposes only.