It’s a common question
Many users assume their account login is the key—but with decentralized wallets, access works a little differently. Here’s a simple breakdown.
Your Account Login: Access to Platform Services (Not Your Crypto)
Your login credentials (email/username and password) are used to manage your relationship with BankSocial and access platform-level services, such as:
Account verification (KYC) to meet regulatory requirements
Buying crypto, where available in your region
Claiming staking rewards and managing related features
Accessing app settings, support, and services
Important:
Your login does not directly control your crypto assets in a decentralized wallet.
Think of your login as access to your BankSocial account, not the key to your funds.
Your Seed Phrase: The True Key to Your Crypto
Your seed phrase (also called a recovery phrase or mnemonic phrase) is the most important piece of information tied to your decentralized wallet.
What It Is
A series of 12 or 24 randomly generated words
Created when you set up your wallet
What It Does
Acts as the master key to your wallet and all associated crypto addresses
Allows you to recover your wallet and funds if you lose your device or uninstall the app
Your crypto lives on the blockchain, not inside the app.
Your seed phrase is what unlocks access to it.
Security Rules You Must Follow
Never share your seed phrase with anyone
Write it down and store it offline in a secure, private location
Do not screenshot, email, or store it digitally
BankSocial support will never ask for your seed phrase
Anyone with your seed phrase has full control of your crypto.
Special Note for Credit Union Members
If you access crypto through a credit union–integrated platform, your experience may be different.
In this setup:
Your credit union login (PIN and CU credentials) provides access to your crypto
The credit union may act as a custodian of your crypto assets
Access is controlled through your existing credit union account rather than a personal seed phrase
This is a custodial model, which differs from a fully decentralized wallet where only you control access via your seed phrase.
In Summary
Login credentials → Access to BankSocial services and features
Seed phrase → Full control and recovery of decentralized crypto wallets
Credit union login → Access to custodial crypto services (where applicable)
If you’re ever unsure which access model applies to you, or how your crypto is secured, our support team is happy to help clarify.