Rubbing alcohol will void your warranty
Any time you expose your smartphone to liquid, you run the risk of activating its Liquid Damage Indicator (LDI). Your LDI is a small indicator that is located inside your battery and/or on the battery itself. Phone companies check your LDI when something goes wrong with it, to see whether the issue was due to water damage. In most cases, if your LDI indicates water damage, the phone company will not repair your phone, according to the terms of your warranty, because water damage voids the warranty.
If you soak your wet phone in alcohol, you will inevitably activate your LDI sticker. Thus, you will void your warranty - even if the original water damage did not affect your LDI. It's common for phones to experience some water damage without the LDI sticker being affected, but it's impossible to soak your phone in rubbing alcohol without activating the LDI, and therefore voiding your warranty.
Alcohol leaves marks on the screen
Another reason not to use rubbing alcohol is if you attempt to repair your wet phone this way, the alcohol will leave marks or stains on your LCD screen because of its acidity. Even after the alcohol completely dries, the marks will remain on your screen. These residual marks may appear milky or look like smudges, but you will not be able to clean them off. In turn, you'll have difficulty viewing the phone or using the touchscreen. In most cases, the only way to resolve the marks is to replace your screen.
Rubbing alcohol contains water
Rubbing alcohol contains water. Using it to dry your wet phone essentially means that you're putting more water inside your phone and its components. It's the water that can short-circuit your phone because of its conductivity. As a result, the water inside the alcohol can reach parts of your phone that may not have been affected originally. The deposits left after the initial dunking in water can often lead to damage that appears later on, surprising users who think the rubbing alcohol has fully restored their wet phone.
The best way to dry your wet phone
Obviously, putting your wet phone in rubbing alcohol is a dangerous method for trying to fix it. The best thing you can do after your phone gets wet is to remove it from the water. It's also important to remove any other external components, such as battery, headphones, and the SIM card, if possible. Then, dry the phone with a clean, dry cloth without pushing the towel into any of the ports. Avoid pushing buttons or attempting to turn on the phone. Most importantly, get your water-damaged phone to Redux drying machine location as quickly as possible. Redux machines are engineered to dry your phone safely and effectively while leaving all of your data and memories untouched and intact.