02-11-2021, 09:52 AM
Ask yourself, if you die in a tragic boating accident, will your loved ones be able
<!-- SC_OFF --><div class="md"><p>In Crypto you're your own bank. Which is great but it also means you're in charge of transactions and security. </p> <p>Everyone should make safe keeping of seeds and passwords a priority. With 2FA on all accounts. There's no reversals in crypto!</p> <p>I found myself using new creative ways to store and remember passwords and seeds. Especially as I have coins both in cold storage (savings), and across several exchanges (trading). I don't want to go into too much details about my methods, but let's just say it would give Alan Turing a good run for his money.</p> <p>Now this created a dilemma, on one hand I was 100% sure I wouldn't lose anything if I accidentally lost or exposed sensitive information. But on the other hand, it became apparent that my methods were too complex and family just didn't understand. </p> <p>It's easy when you already interact with the whole Crypto space but for a newcomer it's a lot of information to digest. </p> <p>So here's my tips:</p> <p>1) don't over complicate everything, sometimes the simplest solution is the best</p> <p>2) use an offline password manager. </p> <p>3) make back ups of your seeds, Ideal more than one. </p> <p>4) make a list of everything you do own, coins on exchanges, wallets, cold storage. </p> <p>5) take the time to explain how to interact and recover wallets. </p> <p>6) don't take your coins with you to your grave. </p> <p>I made a document that outline all the information needed to recover all my assets from cold storage and exchanges. But then split it into 2 parts. Each part is given to 2 different members of my family. Both parts would be needed to recover everything, meaning if one part was accidentally exposed, everything wouldn't be loss. </p> <p>So ask yourself, if you died today would your loved ones be able to recover any coins?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/AntDoctor"> /u/AntDoctor </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lguv3g/ask_yourself_if_you_die_in_a_tragic_boating/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lguv3g/ask_yourself_if_you_die_in_a_tragic_boating/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>In Crypto you're your own bank. Which is great but it also means you're in charge of transactions and security. </p> <p>Everyone should make safe keeping of seeds and passwords a priority. With 2FA on all accounts. There's no reversals in crypto!</p> <p>I found myself using new creative ways to store and remember passwords and seeds. Especially as I have coins both in cold storage (savings), and across several exchanges (trading). I don't want to go into too much details about my methods, but let's just say it would give Alan Turing a good run for his money.</p> <p>Now this created a dilemma, on one hand I was 100% sure I wouldn't lose anything if I accidentally lost or exposed sensitive information. But on the other hand, it became apparent that my methods were too complex and family just didn't understand. </p> <p>It's easy when you already interact with the whole Crypto space but for a newcomer it's a lot of information to digest. </p> <p>So here's my tips:</p> <p>1) don't over complicate everything, sometimes the simplest solution is the best</p> <p>2) use an offline password manager. </p> <p>3) make back ups of your seeds, Ideal more than one. </p> <p>4) make a list of everything you do own, coins on exchanges, wallets, cold storage. </p> <p>5) take the time to explain how to interact and recover wallets. </p> <p>6) don't take your coins with you to your grave. </p> <p>I made a document that outline all the information needed to recover all my assets from cold storage and exchanges. But then split it into 2 parts. Each part is given to 2 different members of my family. Both parts would be needed to recover everything, meaning if one part was accidentally exposed, everything wouldn't be loss. </p> <p>So ask yourself, if you died today would your loved ones be able to recover any coins?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/AntDoctor"> /u/AntDoctor </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lguv3g/ask_yourself_if_you_die_in_a_tragic_boating/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lguv3g/ask_yourself_if_you_die_in_a_tragic_boating/">[comments]</a></span>Kind Regards R