Backing up your seed phrase (also known as recovery phrase) is critical to ensuring that you do not lose access to the tokens in your wallet. Slingshot Wallet is a self-custody DeFi wallet so you are solely responsible for the custody of your crypto and your seed phrase. If you lose access to your wallet and you have not backed up your seed phrase, neither you nor Slingshot will be able to recover the tokens in your wallet.
Therefore, it is very important to properly backup and store your seed phrase in a safe place.
Keeping a paper copy of your seed phrase in a secure place that you will not forget is one way to store your seed phrase. Ideally, this would be locked in a safe for additional security.
If you would like to digitally store your seed phrase, storing it in plain text is NOT recommended. It should instead be encrypted. If you would like to use local storage, it is recommended you use multiple devices or a paper backup in case you lose access to the device or it fails. Using a digital vault service would be another reasonable option.
Finding your seed phrase
When creating a new wallet, you will be shown your seed phrase and given the option to back it up then. If you skipped this step or need to access your seed phrase later, you can find your seed phrase under Account > Settings > Backup Wallet. You will need either your pin or biometric authentication to continue. Therefore, it is highly recommended to backup your seed phrase as soon as your wallet is created.