Flooz Web Wallet: Seedphrase Export and Backup
Great news for Flooz.xyz users! We're excited to announce a new feature that enhances your security and control: the ability to export and backup your seedphrase from Flooz-embedded Web Wallets. This key feature empowers you with secure access to your wallet credentials, crucial for managing and safeguarding your digital assets.
Non-Custodial Wallets: What Does It Mean?
Flooz operates on a non-custodial model, meaning you have full control over your wallet and its assets. Unlike custodial wallets, where a third party holds your keys (Exchanges such as: Binance, Coinbase, KuCoin etc), a non-custodial approach ensures that only you can access your funds.
For example: When the FTX exchange collapsed in November 2022, as those were custodial wallets (Not in your complete control), all assets that users had stored on there were lost and unable to be accessed. In total it was estimated to be around $8 billion worth of assets lost for users at the time.



