Manual: How to Protect Your Cryptocurrency from Force Majeure Events

By Crypto Sentry Recovery: Securing Your Crypto for Unexpected Events

Cryptocurrency ownership adds the burden of preparing for unforeseen events like natural calamities, sudden death, and other emergencies. This guide provides the ideal methods to make your assets completely safe yet accessible for your beneficiaries.

1. The Importance of Planning for Force Majeure

Crypto is decentralized, so there is no central power to defend or recover your lost funds. A good plan can keep your assets from being unrecoverable because of incidents like:

• Natural Disasters: Fires, floods, earthquakes, or any physical threats to wallets or recovery data.
• Sudden Incapacitation: Illness, injury, or death that leaves no clear access path for your heirs.
• Technological Failures: Corrupted wallets, lost hardware, or inaccessible devices.

2. Choose Appropriate Storage Options

Hot Wallets(Online Storage)

• Advantages: Suitable for many transactions.
• Disadvantages: Exposed to hacks and sometimes force majeure.
• Examples: MetaMask, Trust Wallet, or Exchange Wallets
• Recommendations: Small amounts of funds for frequent use.

Cold Wallets(Offline Storage)

• Hardware Wallets: Devices from Ledger or Trezor that keep private keys offline.
• Paper Wallets: Private keys printed and secured.
• Air-Gapped Devices: Computers that are not connected to the internet and are used exclusively for crypto.
• Recommendation: Best for storage and high-value assets.

3. Protecting Your Private Keys and Recovery Phrases

Private keys and recovery phrases are key to crypto security. Assets cannot be accessed without them.

Key Protection Best Practices

• Create Multiple Backups
  • Recovery phrases must be stored in at least two geographically separated, secure locations.
  • Use fireproof and waterproof safes for physical copies.
• Do Not Store Digitally
  • Never store private keys or recovery phrases on internet-connected devices.
  • Never save them in emails, cloud services, or note apps.
• Use Metal Backup Tools
  • Tools like CryptoSteel engrave the recovery phrases onto metal plates. They are then fireproof and waterproof.

4. Planning for Inheritance and Access by Heirs

Cryptocurrency is lost easily if the heirs do not know of its existence or access to it.

Step 1: Legal Documentation

• In a will or trust, provide cryptocurrency assets and provide instructions for access to the wallets, private keys, and recovery phrases.
• Use crypto-friendly attorneys who know digital assets.

Step 2: Securely Share Access

• Identify one trusted person to share recovery phrases and instructions to access it, sealed in an envelope, and put them in a safe vault.
• Consider multi-signature wallets that require multiple parties for transactions.
• Explore dead man’s switches like Safe Haven or Casa Covenant to securely release access information to beneficiaries.

5. Preparing for Natural Disasters and Physical Risks

1. Physical Storage Safety:
   • Use fireproof and waterproof safes for hardware wallets, paper wallets, and recovery phrases.
   • Consider bank safety deposit boxes for added security.
2. Geographical Redundancy:
   • Maintain backups in separate physical locations to mitigate risks from localized disasters.
   • Use professional-grade security solutions like Crypto Sentry Recovery’s Secure Vault Program.
3. Insure Your Crypto:
   • Explore insurance policies for protection against theft, loss, or destruction.

6. Protecting Against Technological Failures

• Backup Wallet Data:
  • Regularly export and securely store wallet backup files.
  • Verify backups to ensure accuracy and functionality.
• Use Trusted Software and Hardware:
  • Purchase wallets directly from manufacturers to avoid tampered devices.
  • Keep wallet firmware updated to address vulnerabilities.

7. Avoiding Common Mistakes

• Losing Recovery Phrases: Always create multiple secure backups.
• Sharing Keys with Untrusted Individuals: Only share access with essential parties in your estate plan.
• Relying on a Single Point of Failure: Avoid concentrating keys or access with one person or location.

8. Leveraging Professional Services

• Crypto Custody Solutions: Services like BitGo, Ledger Vault, or Anchorage Digital provide institutional-grade security.
• Prevention and Compliance Kits: Crypto Sentry Recovery offers crypto prevention services to protect assets and establish inheritance plans.

9. Creating an Action Plan for Your Heirs

Provide clear instructions in case of incapacitation or death:

1. A list of assets (e.g., cryptocurrencies, NFTs, wallet addresses).
2. Step-by-step instructions for accessing wallets and recovery phrases.
3. Contact information for legal or technical support, including Crypto Sentry Recovery.

10. Additional Resources

• Estate Planning:
  • Safe Haven
  • Casa Covenant
• Cold Wallet Providers:
  • Ledger
  • Trezor

11. When to Contact Crypto Sentry Recovery

Crypto Sentry Recovery offers customized solutions for crypto recovery and inheriting cryptocurrency, For more information or support, visit lionsgatenetwork.com.

By following this guide, you can ensure that your cryptocurrency is protected from force majeure events and remains accessible to you or your heirs, even in the most challenging circumstances.