🫀In Case of Emergencies
What happens if the worst-case scenario happens to you? You get hacked, an accident, premature death or something else?
You have options
Store Copies of Seed Phrases with a trusted family member. Seems obvious, but it's simple.
What to Do if Your Wallet was Compromised
If you suspect your wallet has been compromised you have several options.
Move all your funds to a new wallet
Requires you to create a new wallet (or have a backup on standby) and have access to both at the same time.
Move all your funds to a CEX until you setup a new wallet
Requires trading any funds that are not currently supported by the Centralized Exchange(s) you have access too and transferring them. This takes more time then the first option.
Do nothing and kiss it all goodbye
This obviously is not recommended
LastPass
Last pass has an option where you can give someone access only if you don't deny the access within a certain time frame. So you die, they put in an access request and as long as you don't deny them access (which you won't cause you're dead) they gain access after a few days, a week or whatever you sent the timer for.
So you would store the seed phrases on Titanium plates in a safe or a bank lockbox. In LastPass, you would store instructions on how to get access to the plates, how to access the wallet using the seed phrases AND if necessary a trusted contact to walk them through the process of managing and acquiring the funds. The instructions should include a note not to share the seed phrases with anyone they get help from. You never know.
These are not the only options, think of them as more of a blueprint on how you can ensure if the worst happens to you the funds will be SAFELY passed on to the right people.
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