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Topic: How to Secure Your Assets on Exchange in the Event of Your Death? How it Works: - page 2. (Read 319 times)

legendary
Activity: 3094
Merit: 1127
I wont never entrust off my funds on any service or wallets that promised out those kind of features.Im not really just too confident on doing that.
Much better if i do just simply tell them about my keys and talking about the basics on accessing those coins.

I would definitely do this one and i do consider this much safer.

I still prefer the old way! Get your will done and mark your private key into a legally sealed envelope and get in registered in the local court. That means, the envelope will be opened in presence of an attorney and by the person who is legally inheriting it. That's safer!
legendary
Activity: 2212
Merit: 7064
I apologize if I made a mistake with the section. I tried to move the topic, but I don't know how. Do I need to re-publish it?

No problem and you don't need to re-publish as you can just move it.
Just scroll to the bottom of the page and click on move topic and then select one of the topics I suggested before Service Announcements or Service Discussion.



Everything is correct. The funds on the exchange are not your funds. But, we and many traders trade on the exchange, and we are looking for a solution for the safe and easy transfer of funds to our relatives who do not understand crypto. Or you can forget / lose access to your account, email, 2fa ...

It is interesting solution in case of lost 2fa but I am not so sure your system is bug free and there are some people who may try to abuse this in some way.
Problem is that whitelisted IP and address are just optional as I understand., and when something is optional people tend not to use it so often.

copper member
Activity: 226
Merit: 1
https://keyco.io/
How to use the withdrawal address whitelist function

When you enable the withdrawal address whitelist function, your account can only withdraw to the addresses in the whitelist.

https://www.binance.com/en/support/faq/1d08944f103b4fc78d3519913b600086

copper member
Activity: 226
Merit: 1
https://keyco.io/
1. As said, this is not the best place to advertise your project, hence you should move the topic.
2. What stops you from conveniently log/store the information you get before (API keys) or after (policy number) encrypting it? If you want to tell about IP blacklist, read 4.
3. What stops the trusted person use the policy number and withdraw - sooner or later - those funds like he would have the API keys himself? (excepting IP)
4. From what I see the only security measure would be that the Binance account API keys work only with a small list of IPs. I don't have experience with the API keys, but I don't expect "the next generation" will be able to enter from the exact whitelisted IP. Most households have dynamic IP, hence the Binance account will have to allow IP ranges or everything (if that's possible), hence allowing the funds get stolen (see [2] and [3]).

Am I missing / misunderstood something?

We have written many times that users be sure to include a whitelist. The policy will not be generated if you do not check the corresponding checkbox.

The recipient of funds does not need to worry about keeping a static IP address. The policy can be used from any device with any IP address. Before creating a policy, the owner of the Binance account in the whitelist enters the static IP address of the KeycoSafe server. We will make sure that this address never changes.

If the policy is stolen, the attacker will need to somehow change the recipient's address in the policy. This cannot be done without decrypting the policy, which can only be done on the keyco server. The policy is protected by RSA encryption with a 4096-bit key. The attacker will also need to change the recipient's address in the exchange whitelist, and for this he will need access to your Binance account. Considering the above, we believe that there is no point in stealing and trying to decrypt the policy, because you will not be able to withdraw coins to any wallet other than the one specified in the policy (taking into account the observance of the recommendations described on the keyco.io website).

We don't need to store any information (API keys, recipient address, etc.). All this information is encrypted in the policy itself and is not stored in any logs, databases, etc. When using the policy, this information is decrypted, funds are withdrawn to the recipient's wallet, and the information is immediately deleted. It makes no sense for us to save the user's API keys in order to steal funds, since no one (including us) will be able to withdraw funds to a wallet other than the wallet specified in the whitelist of the exchange.

We plan to introduce policies with deferred use, for example, one year after creation or with an indication of the start date of the policy. Thus, the heir will not be able to use the policy until this date. Or you can use any other services for deferred messages, emails, SMS.
copper member
Activity: 226
Merit: 1
https://keyco.io/
If you are advertising your business then you should move this topic from Legal section to Service Announcements or Service Discussion.
Keeping Bitcoin on exchange you are not really holding your Bitcoin but you are trusting Binance to hold private keys for you, and if they go bust or if governments close them you will lose everything with or without your keyco policy number.

It is however very important to educate your family members about this and I would suggest writing instructions with backup phrase placed in tamper evident bags or envelopes, and this should be easy to understand and opened after death.
I would never keep many coins on Binance or any other ticking bomb exchange.
Not your keys, not your bitcoin.

I also noticed you are not even supporting Bitcoin with keyco when creating policy, but only BNB and USDT as I understand...
You also lose everything in case someone gets your policy number and you don't have whitelisted address or IP restrictions.

I apologize if I made a mistake with the section. I tried to move the topic, but I don't know how. Do I need to re-publish it?

Everything is correct. The funds on the exchange are not your funds. But, we and many traders trade on the exchange, and we are looking for a solution for the safe and easy transfer of funds to our relatives who do not understand crypto. Or you can forget / lose access to your account, email, 2fa ...

During the testing period, we connected BNB to the BSC network with a fixed amount of 0.01BNB and USDT (ERC20) with an amount of 40USDT. In the near future, we will connect other coins with the selected policy amount.
legendary
Activity: 3080
Merit: 1500
Lol! Another scam in the making! How do we ensure that you guys don't store the policy number that you generate? You need to have database to match with whenever the person inherited the policy enters that to your system!

I still prefer the old way! Get your will done and mark your private key into a legally sealed envelope and get in registered in the local court. That means, the envelope will be opened in presence of an attorney and by the person who is legally inheriting it. That's safer!
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
1. As said, this is not the best place to advertise your project, hence you should move the topic.
2. What stops you from conveniently log/store the information you get before (API keys) or after (policy number) encrypting it? If you want to tell about IP blacklist, read 4.
3. What stops the trusted person use the policy number and withdraw - sooner or later - those funds like he would have the API keys himself? (excepting IP)
4. From what I see the only security measure would be that the Binance account API keys work only with a small list of IPs. I don't have experience with the API keys, but I don't expect "the next generation" will be able to enter from the exact whitelisted IP. Most households have dynamic IP, hence the Binance account will have to allow IP ranges or everything (if that's possible), hence allowing the funds get stolen (see [2] and [3]).

Am I missing / misunderstood something?
legendary
Activity: 2212
Merit: 7064
If you are advertising your business then you should move this topic from Legal section to Service Announcements or Service Discussion.
Keeping Bitcoin on exchange you are not really holding your Bitcoin but you are trusting Binance to hold private keys for you, and if they go bust or if governments close them you will lose everything with or without your keyco policy number.

It is however very important to educate your family members about this and I would suggest writing instructions with backup phrase placed in tamper evident bags or envelopes, and this should be easy to understand and opened after death.
I would never keep many coins on Binance or any other ticking bomb exchange.
Not your keys, not your bitcoin.

I also noticed you are not even supporting Bitcoin with keyco when creating policy, but only BNB and USDT as I understand...
You also lose everything in case someone gets your policy number and you don't have whitelisted address or IP restrictions.

copper member
Activity: 226
Merit: 1
https://keyco.io/
There are a number of ways that investors can pass on their crypto to the next generation, but each method requires some decision-making and planning, as well as some general knowledge of how crypto works.

If you keep funds on exchanges, things are a bit more complicated.

Is Cryptocurrency Inheritable? Yes, Here is How it Works.
You or your loved ones will receive your funds from exchange safely and securely.

KeycoSafe - withdrawal service from owner's wallet on Binance.com to a trusted person's wallet WITHOUT giving them any passwords to accounts, emails, 2FA, API key or any other data.

Generate your Policy Number and give it to a trusted person.

We never store your API key and policy number. We don't have any of your account information including logins or passwords. All data is encrypted in the policy.

Try it now, it's FREE
https://keyco.io/


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