How to Recover IOTA zero balance in IOTA-Wallet

 

What to do if you see no IOTA coins in your wallet?

 

Some people experience a problem that they see zero balance when they log into their IOTA wallet, even if they know they’ve been receiving IOTAs before.

 

First, we need to clarify some basics: your IOTA coins are not stored on your computer.

It does not matter what you do with your “Cold Storage” wallet installed on your PC.

Uninstalling IOTA Wallet will not delete your IOTA coins.

 

The only thing that counts is your “seed”.

Your IOTA-Seed is your password and your identity.

If you pass your seed to someone else, they can go into your wallet and steal your IOTA in just seconds.

If you want to make sure nobody will steal IOTA coins from your Computer, just create a paper wallet and then print it out on paper.

This is a piece of paper that contains your seed number and your IOTA address for receiving coins at any time.

You basically do not need a Software-Wallet to receive IOTAs. What you need is only your Seed number. This number allows you to generate new addresses.There are a variety of services and tools that can generate the recipient’s address from your seed. For example this offline generator: https://github.com/domschiener/iota-address-generator

 

A common mistake: after you generate a new address to receive IOTAs, you must attach it to Tangle.

In other words, you must tell IOTA Network that the address you have generated belongs to you and your seed.

Otherwise, your IOTAs will end up in nowhere.

 

Note: You can use the same IOTA address to receive as many coins as you like, but once you have sent IOTAs from that address, that address will be “burned”. You can only send money once from a unique address. After using an address to send IOTAs, stop using this address to receive IOTAs.

 

To make sure your coins have not been stolen from your wallet, you can check your balance on an IOTA Explorer.

To do it, go to: https://thetangle.org/ and give your IOTA-Address (Not Seed) into the search form on thetangle.org.

Now you can see your actual IOTA balance behind your seed number.
If you can see all the coins that belong to you, then you can proceed with the actual “IOTA recovery”.

 

Fix IOTA zero balance

1) Download and install IOTA-Wallet: https://github.com/iotaledger/wallet/releases This wallet is available for Windows, Linux/Unix and Mac.

2) Install and open your wallet by using your “Seed Number”.

4) Now you will see that you have no IOTAs in your wallet.

5) Click on “Receive” and you will see your IOTA address.

open IOTA-Wallet and click Receive

6) Hit “Attach to tangle” and wait a second. You balance should be restored now.

Attach your IOTA-Address to Tangle

 

Possible errors

Your wallet has a connection error or takes too long to connect.

Click on “Tools” in the upper toolbar and choose “Edit Node Configuration”.

Change slow IOTA-Node to a fast one

Choose another node from the list. It is best to choose a node that is near you.
For example, if you are based in France, a France-based node will work best for you.

 

Another possible error

Is that people have lost IOTA coins in wallets they bought before November 2017.

To resolve this issue, you must use the Reclaim Tool to recover your IOTAs that have been lost due to a bug.

To use the “Reclaim Tool” you will need the number of your old seed and a seed number that has been created after October 2017.

By using the “Reclaim Tool” you can move your lost coins to your new seed.

 

 

Some thoughts on IOTA or “why buy IOTA”.

IOTA is a fee-less coin that can process thousands of transactions in one second.

This makes IOTA interesting for large companies, allowing them to move huge amounts of money around the globe in a few seconds without paying a penny.

Some “big players” are already investing in IOTA. Among these companies are: Microsoft, Cisco Systems, Samsung Artik, Accenture Labs, Fujitsu, T-Mobile (Deutsche Telekom AG), Orange, BOSCH. These are some of the largest corporations in the world. These companies are not run by fools. If some of these businesses invest in IOTA, then for a good reason. This gives hope that this cryptocurrency could have a great future.

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