Wallet PIN

A wallet PIN is the code that unlocks a hardware wallet, or a wallet application on the device it is installed on. Its job is narrow and worth stating exactly: it defends against someone who physically has the device. On a hardware wallet the code is checked by the secure chip, which rate-limits attempts and wipes the stored keys after a set number of wrong entries, so a thief cannot guess indefinitely. What it does not defend against is anyone holding the recovery phrase, because the phrase restores the same accounts into any compatible wallet with no PIN involved — the code protects the device, not the funds. It is also not a second factor for a transaction you approve yourself. Choose something that is not a birthday or a repeated digit, enter it where it cannot be filmed or overlooked, and remember that a wiped device can be restored from the phrase while a forgotten phrase cannot be restored from anything.