Magnum is a light wallet, hence we do not store the users’ private keys, backup files or any personal information. Light wallets are the most reliable way to operate coins and tokens. Users here have full control over their private keys during the whole session. The private keys are encrypted and stored in the browser’s local storage, so they never leave the user's device. All blockchain transactions are transmitted through an encrypted SSL-connection.

Magnum provides each user with a backup file that contains their encrypted private keys. It is necessary to download the backup and keep it in a safe place. You can use the backup to get access to all your wallets from different browsers and devices. The user must enter their passphrase to decrypt the backup. We cannot recover your backup file or private keys if you lose or forget the passphrase. Magnum will ask you to enter the passphrase each time you perform operations that require the private keys.