Key Takeaways:
- Deleting a wallet account is a straightforward process that can be done through the account settings
- When you delete a wallet account, you lose access to it and cannot retrieve any funds associated with it
- Wallet apps are custodial wallets, meaning they hold your private keys and have control over your assets
How to Delete a Crypto Wallet Account?
In your wallet account, you always have an option in your settings to delete your account.
This process is relatively straightforward.
First, log into your wallet account and search for the settings. From there, locate your account settings in the menu. Within this section, you will find a link to close or delete your account.
If you tap on it, you will be redirected to a confirmation page that asks if you are sure that you want to delete your account. Once you confirm it, all your data and information will be deleted from your user’s account.
What you should note is that you won’t be able to access your account anymore. Because of this reason, you should always withdraw all your funds prior to the deletion process.
After you remove your account, you cannot transfer or refund your money. It will be gone without the possibility of getting it back.
Can You Delete the Wallet Account Permanently?
Your wallet account is always deleted permanently.
Because of this reason, you should always rethink this decision twice.
If we look at the entire picture, then the answer is not so straightforward anymore. Even if you delete Trust wallet accounts, Metamask accounts or other wallet applications, you will always leave a trail after you delete these accounts.
Deleting the account is quickly done, but it is not possible to delete wallet addresses. In your wallet account, you will have one or multiple wallet addresses included. Your wallet account is just the place to hold them in one place.
The blockchain doesn’t provide us with an option to delete wallet addresses. Once a wallet address is created, it will remain forever. What you can do is to delete your wallet account and its access to a wallet address.
But finally, the pure address will stay on the blockchain as an unused one. People, however, can still look up this address and look into the entire transaction history of it. So if you want to delete it to remove all your trails, you won’t be able to do so.
This address will still be usable. You can always send funds to this address no matter if your wallet is deleted. You just won’t have access to it anymore and cannot gain it back.
The problem is that if you have used a custodial wallet, which is common if you have a wallet account, then the provider like Coinbase or an Exodus wallet has your private keys and therefore the access to it.
Without the private keys, you lose your access to your wallet. With your account deletion you erase this data.
Can a Deleted Wallet Be Recovered?
You can recover a deleted wallet.
For this you will need your recovery phrase, also known as seed phrase.
What you should keep in mind is that a wallet account differs from a wallet. If you have a wallet account, then your provider created a wallet within your account. If you now delete your account, all data and information will be also deleted.
Here, you won’t be able to recover your wallet because your provider erased all data. Maybe some providers keep this recovery data in case of a user wanting to reopen the wallet account again.
In this scenario, you should always contact the support center of your provider. If you just have created a wallet by yourself or bought a hardware wallet, then you will create a 24- or 12-word recovery phrase in the initial setup process.
You should store this phrase in a secure place because it will always allow you to restore your wallet. This option is there for a reason. Wallets can break, the provider could discontinue its services, and so on. Think about the software you use now.
Will it be available in 40 years? Things change and you will eventually buy other wallets and instead of creating a new one you can recover your old wallet data on the new one. It works like copy paste, for which you always need your seed phrase.
Do Wallet Apps Like Trust Wallet Have Control Over My Assets?
Wallet apps are custodial wallets, meaning they hold your private keys.
Whoever holds the private keys has access to the funds and therefore these wallet providers have control over your assets.
This is not bad in the first place, but you could get problems in certain scenarios. If you use this wallet constantly and everything works fine, you also have chosen a reliable provider, then you won’t have problems.
The same principle applies to other accounts you have. The most common account is your bank account. You can access it freely, but in the end, your bank also has control over it and can just lock you out of it.
The same scenario can happen with your wallet account. If the wallet provider gets hacked, then you can lose all your funds because they stored it for you with the private keys.
It is convenient and relatively safe, but if you want to go for maximum security, store your funds in a hardware wallet which only you can control.
What Benefits Do Blockchain Wallets Provide?
A blockchain wallet is another name for a regular crypto wallet.
Specifically, digital wallets are meant when talking about blockchain wallets.
They differ from hardware wallets on some points and provide distinct advantages. You can set up these wallets by yourself using programs like Bitcoin Core or by using custodial wallets.
They allow you a maximum security and control you wouldn’t get with traditional bank accounts. If you hold your private keys, which is always recommended, then no one can access your funds besides you.
Transactions you do are irreversible, which makes refunds impossible but makes it more secure from fraud or tampering. Banks can refund money because they can change their ledger. This can be helpful but allows manipulation as well.
You can also access your funds easily from anywhere in the world and transfer it globally with small fees in minutes instead of waiting days, and pay high fees for international transfers.
Especially with digital wallets for iOS or Android, it is easy and convenient to transfer funds anytime and quickly.
Why Would I Want to Delete My Wallet?
There could be many reasons to delete a wallet.
The most common reason is if you don’t want to use it anymore because you want to use another wallet.
The market develops, and providers compete. This leads to new products with extra advantages, so moving to the newest products is a normal process.
Another reason is that beginners mostly start with a custodial wallet to make their first steps with small funds in the crypto space.
When they get more experienced and invest more funds, they often look for a hardware wallet to store the main part of their investments. In such cases they need to transfer the funds and have no use for the old mobile wallet anymore.
Remember that if you keep your seed phrase, you will always be able to restore your wallet even on another device or service. Another factor to keep in mind is that you can delete your wallet, but not your transaction history.
So if you want to delete a wallet to erase all your historical data, you cannot do it. Once used, the information will remain on the blockchain forever.
FAQ
Can You Delete a Wallet Address?
Deleting an address is only possible in terms of hiding it, not actual deletion.
If you want to delete an address, you will not really delete it, but you will hide it from your wallet’s view.
Wallet addresses will stay forever once they are created. You cannot delete wallet addresses. They also will remain usable. There is no actual need other than a cleaner look in your wallet to delete an address from it.
It won’t harm you if you leave it just there. Maybe you will mistakenly transfer funds to it in the future because you copy it as the receiving address. Then it would be nice to have access to it.
What Happens if You Delete a Crypto Wallet?
If you delete a crypto wallet, then you delete your access to it because your service provider will erase all information regarding it.
What will not happen is that all the included wallet addresses will be deleted. They will remain intact.
Created addresses will be stored with their information on the blockchain and will remain even if the wallet was deleted. Therefore, it’s always recommended that you store all the access information for every address you create.
Maybe in the future you could have a situation where you want to access one of your old addresses.
How to Delete a Blockchain Wallet Account?
Deleting a blockchain wallet account is a simple process.
After you log into your wallet account, you can easily find an option in your settings menu to remove, delete or erase your account.
After you delete it, you will lose your access and all the included information for it. This also applies to the funds stored in this wallet. Prior to this step, you should always withdraw all your funds.
Conclusion: How to Delete a Wallet Account?
Deleting a wallet account is a straightforward process that can be done through the account settings. However, it’s important to note that wallet addresses cannot be deleted, as they are permanently stored on the blockchain.
When you delete a wallet account, you lose access to it and cannot retrieve any funds associated with it. If you want to recover a deleted wallet, you’ll need the recovery phrase or seed phrase. Additionally, while wallet apps provide convenience, custodial wallets mean that the wallet provider has control over your assets.
