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What is Vault12 Personal Cryptoasset Security?
Protecting the future of cryptoassets. For this generation and beyond.
August 31 2024
This article offers you an exciting introduction to Vault12 Guard. Find out how you can make your digital assets both more secure and simpler to store and bestow.
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 Cryptoasset Security?
Protecting the future of cryptoassets. For this generation and beyond.
August 31 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 it, nobody else will—not your software or hardware wallets vendors, not your exchanges, not your wealth managers. So you have 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 from hacking, to accidental loss, to loss of cloud services. No one wants that to happen to their crypto generational wealth.
- Software wallets operate on specific 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.
Crypto Inheritance Management: Get ready today
Vault12 is the pioneer in Crypto Inheritance Management that delivering an easy-to-use and secure method for assigning a legacy contact to your crypto wallets. This enables you to pass on your wallet seed phrases and private keys — including Bitcoin (BTC), Ethereum (ETH) — to future generations. Designed for everyday people, and strong enough for Crypto OGs.
This innovative, decentralized system enables users to appoint a person or mobile device as Guardian. The designated guardian is entrusted to protect the user's comprehensive collection of wallet seed phrases and private keys, safely stored within a decentralized digital Vault. No information is stored on cloud servers, or Vault12 servers and nothing is stored on local devices making it 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, often leading to privacy breaches. It 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.
Add a legacy contact for your crypto.
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