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CoinLegacy Unveils Tezos Compatible Crypto Recovery Solution To Help Safeguard Digital Assets
CoinLegacy’s Recovery Kit eliminates all single points of failure by allowing users to store their BIP-39 Wordlist and Secret Code separately, helping to prevent unauthorized access to digital assets.
By: Lee Evans
2 April 2023
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
CoinLegacy has just launched its Recovery Kit to offer additional protection to the recovery seed phrases of all crypto holders, helping to ensure digital assets remain recoverable in case of loss, damage, theft, or even death.
Compatible with Major Tezos Wallets and BIP-39 Standard The CoinLegacy Recovery Kit is compatible with most wallets in the Tezos ecosystem using the BIP-39 standard, including Ledger, Trust wallet, Trezor, Temple, Umami, and the Altme wallet.
Enhanced Security with No Single Point of Failure CoinLegacy’s Recovery Kit helps to eliminate single points of failure by allowing users to store their BIP-39 Wordlist and Secret Code separately, preventing unauthorized access to their digital assets.
It provides the ability to store at least one part of the kit offline (the BIP-39 wordlist or the Secret code), adding an extra layer of protection against hackers and phishing attacks.
Easy and Fast Setup The CoinLegacy Recovery Kit has been designed to be easy and it can be done in around 5 minutes.
Users would simply purchase the Recovery Kit, download the BIP-39 Wordlist, create a secret code, and store the wordlist and code in separate secure locations.
Here are the steps
Users would purchase a Recovery Kit and download a randomly generated BIP-39 Wordlist containing the 2048 words used in their seed phrase.
They would create a Secret Code corresponding to the positions of their 12 or 24-word seed phrase within the BIP-39 Wordlist.
They would then store their BIP-39 Wordlist and Secret Code in various secure locations, such as their home, a relative’s home, friends’ houses, a safe box, or multiple password managers.
Founders’ Vision and Affordability CoinLegacy’s founders, Benjamin and Hugo, developed the Recovery Kit to address their own need for a straightforward and effective solution to make their digital assets always recoverable, even in case of death.
“We wanted to provide an easy-to-use, affordable, and secure solution for digital asset recovery that would eliminate all single points of failure”.
The price for the solution is $4.90.
CoinLegacy state that alternative solutions like titanium seed phrase storage and classic recovery sheets are either more expensive, or offer very limited protection (= single point of failure).
Long-Term Asset Protection CoinLegacy allows users to plan for the future by making their assets recoverable in case of death.
Indeed, by sharing their BIP-39 Wordlist with their loved ones and including their names and the Secret Code in their will, users can ensure that their digital assets will be accessible in the future, without compromising their digital assets’ security (no single point of failure).
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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