Why don't I need to remember a seed phrase?

When creating a wallet with Bits, your device automatically splits your private key into three pieces. One of those is stored on your local device, another in a secure Amazon Web Services Center with restricted access (Bits has no access), and the last piece with a trusted third-party (magic.link). This ensures that only you are able to access your funds, and they cannot be stolen by any exchange.

Dec 2022