Hard Reset SPICE Mi-425 Stellar

Turn off your phone.
Next hold and press Volume Up + Power.
You will see fastboot recovery in green screen (do not let go of the buttons which you are holding).
When you see recovery in red screen, then release holded keys.
Then press Home key to see Android logo.
From the menu choose option "wipe data/factory reset" using Volume buttons to navigate, and Power button to accept operation.
Now select "Yes -- delete all user data".
In the end accept option "reboot system now".
Success!