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What is Vault12 Personal Crypto Asset Security?
Protecting the future of cryptoassets. For this generation and beyond.
September 27 2024
This guide introduces you to a Vault12 Guard, a digital vault—a highly secure, encrypted space designed to protect your valuable digital assets. It's completely different from a wallet. Unlike digital wallets which are used for transactions, digital vaults like Vault12 prioritize long-term security and accessibility.
Keep reading to find out how Vault12 makes it easier to secure, store, and pass on your digital assets to your heirs.
Why use a digital vault like Vault12?
Consider that cryptocurrency assets are routinely stored in local hardware and software wallets, or in centralized online accounts. Unfortunately, these approaches have significant drawbacks and weaknesses. Exchanges are vulnerable to hacks and theft, while wallets are often lost, or keys are forgotten by owners, resulting in billions of dollars in lost cryptocurrency that will never be retrieved.
"One of the unresolved challenges for the mass adoption of cryptocurrency and the blockchain economy is the continued challenge and burden associated with securing crypto assets," said Max Skibinksy, co-founder and CEO of Vault12. "Previously, to keep our digital money safe, we had to keep our extremely valuable cryptographic backups on pieces of paper and store them in traditional banks. It was ironic. We built Vault12 to be an innovative, convenient solution that replaced this cumbersome process."
Vault12 is the first cryptographic security platform to provide end-to-end management of digital assets stored as encrypted "shards," while ensuring that no one has to manually deal with cryptographic components. Instead of leaving recovery phrases or private keys centralized in a single place, with a single person, on a single device, or within a single organization, the Vault12 platform conveniently enables users to store crypto assets in a storage system that is not located on a cloud server, but instead on a distributed network of people and devices.
Vault12 marries decentralized cryptography with a decentralized storage network to form an infrastructure that protects cryptocurrencies with full owner control, complete privacy, reliability, and high availability. Owners of crypto assets can quickly set up digital Vaults that are quantum-resistant and highly resilient to attacks on any part of the cryptostorage infrastructure. Users are able to access their assets by requesting approval from their Guardians, who can be paid in Ethereum for their services.
What makes Vault12 Unique?
Many security products deliver security but are far from convenient. Vault12 has replaced the need for understanding complex security protocols with simply connecting with a few trusted people in your network.
Vault12 eliminates the need for cloud or local storage to protect crypto assets by encrypting, splitting, and distributing them across a trusted network of friends - dramatically reducing the threat/risks.
- Cryptography. The first solution to provide end-to-end management of shards, cryptographic operations, and storage, making security as natural as placing a few phone calls. Based on Hierarchical Threshold Shamir's Secret Sharing (SSS).
- Social Custody provides the ability for people to control their own keys with the assistance of a trusted circle of friends. This is related and complementary to Institutional or Digital Custody, which people undertake for compliance reasons.
- Social Recovery is the ability to access assets by requesting that people guarding an asset provide approval. Since only a subset of approval is required, this is convenient and secure.
- Desktop Uploader. Introduced with paid subscription plans, the Desktop Uploader enables Vault owners to upload assets directly from their desktops on Windows and macOS.
- Digital Inheritance enables you to perform a smooth transfer of digital assets from one generation to the next.
About Vault12
Vault12 is the first personal crypto security solution to easily secure, store and protect crypto assets from anywhere in the world. Founded by security, cryptography, and gaming veterans, the platform utilizes Hierarchical Threshold Shamir's Secret Sharing and proprietary technology to protect private keys with a trusted network of friends, family, and devices.
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Learn
What is Vault12 Personal Crypto Asset Security?
Protecting the future of cryptoassets. For this generation and beyond.
September 27 2024
Vault12 Crypto Security
Social Recovery Vault for Digital Asset Security + Digital Inheritance for protecting the future of money.
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You will lose your Bitcoin and other crypto when you die...
...unless you set up Crypto Inheritance Management today.
It's simple — if you don't worry about crypto inheritance, nobody else will — not your software or hardware wallet vendors, not your exchanges, and not your wealth managers. So it's up to you to think about how to protect the generational wealth you have created, and reduce the risks around passing that wealth on to your family and heirs. What are the challenges with crypto inheritance?
- Crypto Wallets are difficult to use and do not offer crypto inheritance management. In fact, most of them tell you to write down your seed phrase on a piece of paper, which is practically useless.
- Some people back up their wallet seed phrases or private keys on paper, local devices like hardware wallets or USBs, or in the cloud. All of these options have severe drawbacks that range from hacking to accidental loss to disrupted cloud services.
- Software wallets operate onspecific blockchains, yet your crypto assets span multiple blockchains. For inheritance to work, you must be able to manage inheritance across every blockchain — now and forever.
Vault12 is the pioneer in crypto inheritance management. Watch our explainer video above, or our inheritance demo today.
Crypto Inheritance Management: Get ready today
Vault12 is the pioneer in Crypto Inheritance Management, and offers an easy-to-use and secure method for assigning a legacy contact to your crypto wallets. Vault12 Guard enables you to pass on your wallet seed phrases and private keys for any cryptos including Bitcoin (BTC) and Ethereum (ETH) to future generations. It's designed for everyday people, yet strong enough for Crypto OGs.
This innovative, decentralized system uses a hybrid approach of software fused with the Secure Element of phone devices (the Secure Enclave for iOS devices, and Strongbox for Google devices).
Vault12 Guard enables users to appoint one or more people or mobile devices as Guardians. The designated Guardians are entrusted to collectively protect the user's comprehensive collection of wallet seed phrases and private keys, which are safely stored within a decentralized digital Vault. Nothing is stored on cloud servers or Vault12 servers, and no assets are stored on local devices, making them less of a target.
The decentralized approach reduces points of failure and removes the necessity for regularly revising wallet inventories or modifying instructions for your lawyers (which could lead to privacy breaches). Simply put, Vault12 Guard is the best way to preserve crypto generational wealth.
Take the first step and back up your crypto wallets.
Designed to be used alongside traditional hardware and software crypto wallets, Vault12 Guard helps cryptocurrency owners back up their wallet seed phrases and private keys (assets) without storing anything in the cloud or any single location. This increases protection and decreases the risks of loss. Making sure you have an up to date back up is the first step in crypto inheritance management.
The Vault12 Guard app enables secure decentralized backups and provides inheritance for all your seed phrases and private keys across any blockchain, including Bitcoin, Ethereum, ERC-20, and other crypto wallets.
Note: For anyone unfamiliar with cryptocurrencies, Vault12 refers to wallet seed phrases and private keys as assets, crypto assets, and digital assets. The Vault12 Guard app includes a software wallet that works alongside your digital Vault. The primary purpose of this is to guard your Bitcoin (BTC) or Ethereum (ETH) wallet seed phrases, private keys, and other essential data, now and for future generations.
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