November 17, 2022

✅ TON Safety: Self-Custody Test

Here are two important tests you should make to see if your cryptocurrency assets are in order for any eventuality

Source: TON info News

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Test One

Tell your next of kin to retrieve your coins as if you had died. They are only allowed to use the info they have now. No new note or instructions allowed- if you died today they wouldn’t have those instructions either. See how the test works.

Test Two

Put your phone down and pretend that it, your PC and every single thing in your home / office is destroyed. Now retrieve your coins. Remember - no use of your phone or anything from your home - no paper, notes, nothing.

Source: @brucefenton

Pro Tip

Whatever you keep in a custodial wallet such as a centralized exchange (CEX) or Telegram wallet, is not in your custody. This means that if you should pass, your next of kin should also have access to those accounts. It also means that your funds could disappear for a variety of reasons.

Therefore it is not recommended to keep funds in CEX or custodial wallets outside of an active exchange process, or, only what you can afford to lose. Always withdraw your funds to a self-custodial wallet such as TonSafe.