1. Log into your Element account.
2. Select Wallet from the left-hand navigation menu.
3. At the top of the page you will see the option to update your wallet. Click Upgrade to Wallet 2.0 button.
4. Create a new secure wallet passcode.
5. Click Forgot wallet recovery phrase link.
6. Click Create New Wallet.
7. Create a wallet passcode then click Create Passcode button.
8. Record your Element 12-word recovery phrase (in all lowercase letters) and click the Phrase Secured button.
9. Confirm your Element 12-word recovery phrase and click the Complete button.
Congratulations, your wallet setup and upgrade to wallet 2.0 is complete!