The PalmTree Network

Your money. Your time. Your future.

Be prepared in crypto

This may be the article that nobody wants to read, or on the contrary, the one that we all need and should read.

Speaking clearly, one day we will die. Now let’s move on to the next point.

Once you start having tokens stored in your wallet (, if you have family or people around you that you care about, it will most likely have crossed your mind: “And if something happens to me, what next?”

The first thing we must be clear about is that it is not the same when we talk about “your tokens” or when we talk about “the tokens that some centralized exchange has and that you thought were yours”. It is important to be clear about the advantages of having decentralized finances without intermediaries.

The best way to sleep peacefully is that you have prepared the following instructions, so that later no one has to fight with processes that they do not understand, or have to claim funds from a third company that are not really yours. But anyway, you should keep very safe your keys and passwords.

Steps one by one

1- Make sure you leave at least one delegated person to take charge

2- Write by hand (recommended) your wallet keys and passwords. Store them in a safe place (or two different ones).

3- If you want to double the security of your funds, instead of explaining where your passwords are stored, leave written instructions. You will need them if you are not familiar with Elrond.

4- Make a list of

  • the different wallets you use
  • your herotag in Maiar (the PIN of Maiar too)
  • your access keys to Maiar Exchange (either the json or any access method)
  • and it would be good if you specify in which folder of Google Drive or iCloud you have deposited your backup copy of your 24 secret words in case your mobile phone became inaccessible and they had to access your funds by installing your Maiar account on their phones.

Make sure that everything is read clearly, that it is understood what each thing is.

5- Make a list of the different websites that they will have to access to find your investments:

  • Maiar Exchange
  • Maiar
  • your NFTs
  • your web wallet account or Maiar (where you have your EGLD in staking).

In the article (second part of the current one) dedicated to family members, we wrote down precise details of how to direct each of the steps, but it will be very good for them if one day you can review this process in front of them, if they are not yet familiar.

If you have followed these steps in detail, be assured that your funds will be safe if something happens to you

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