Tuesday, October 22, 2019

How to handover a Hedera account from Alice to Bob


Alice has one step: give Bob the recovery phrase and associated account number

Bob's steps:

  1. install hedera wallet on device, select "Recover wallet" and enter details provided by Alice
  2. verify access to the account by sending a small amount of hbar, eg 0.1hbar to Alice
     check the transaction at https://app.dragonglass.me/hedera/accounts/0.0.XXXXX where XXXXX is the account number (use either the sender or recipient account number, the transaction should show equally on both sides)
  3. select app menu SECURITY > Update Key, then Accept
  4. a new recovery phrase is shown, copy and store this safely and securely
  5. enter the account number where asked, then hit 'Confirm'
  6. the request is sent to hedera and a confirmation message is shown once completed


This concludes the account handover. Alice no longer has access to the account, and Bob can recover it if needed using the recovery phrase from step 4. Note that anyone who steals the recovery phrase and account number effectively steals the account, so take precautions to protect this info, and ideally do not store these two items together.

Next step: Bob can now create an account for Carole, then Carole for Dave, Dave for Emily, Emily for Frank, Frank for Georgia, and so it goes on....


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