Hi NEXers
It has Come into my attention that, if I die( God forbid) today, my My beautiful wife and my Two daughters may not have access to inherit my future wealth in NEX and my entire Crypto portfolio.
For the Sake of humanly incidences like this, I kindly ask the NEX development Team, to allow the means of accessibility for the Next of Kin to avoid massive wealth that may get lost.
If you trust your wife just give her the keys. otherwise open a safe at a bank and leave a cd and a papperwallet and leave the safe at your final will to your family. Simple.
We have many improvements for how your NEX account works in the exchange release. It is much easier than how the web extension currently works where you need manage your private key information. Essentially, you log into the exchange website with a username and password from any computer (+2FA), and you have access to the account. But it is still decentralized in that you control your account private keys, and NEX has no ability to use them. We do some cryptography magic to make this happen.
Anyway, what this means is: give your wife your NEX username and password when you sign up on the exchange (and don’t forget access to 2FA on your mobile device) just as you would for any important account, and she will be able to access the funds.
Great to hear! Had been thinking the same re private keys and doubt any family would be competent enough as none are involved in crypto.
A very important question you ask and a great reply from Ethan. Happy the team has designed an ingenious way to solve the problem.
Thank you Ethan, for Clarifying in detail, we really appreciate your time with this community, and we are looking forward to blowing people’s mind with Next to None Technology:
Sounds like NEX making simplistic solutions for the new users which is great as this simple approach is where crypto will gain mass adoption.
I gave my wife a crash course on how to access my ledger for this same reason, It was going well until we got to restoring seed words in case of wrong pin etc.
Really good to see NEX with some simple solutions for the average users.
Will that login feature be optional? I feel some may want to keep it as it is whereas some will definitely love that addition
Having less traces of the ‘difficult’ part of blockchain is what NEX is aiming for, to reach mass adoption.
Having too much options prevents that.
I agree but there will be some who will like to control their erc20 and nep5 funds solely with private keys.
Just curious if there will be the option… the default setup could be username and password but could override that choice somehow if you wanted
I guess your ‘easy’ to remember password together with 2fa will unlock the private keys to the assets you have. Just like now, you can extract the private key after you logged in if you like to, but it’s not necessary for any function to work
Hi Ethan, I was just about to buy Ledger (currently using Trezor) just for NEX tokens. Does it make sense to buy Ledger if NEX will have this great security tool?
Yes @dunco it makes! We believe ledger is a great cold wallet, this means some address that hardly move funds. You should store it in a safe location like a safe deposit box in a bank vault.
Thanks Fabio just bought myself a small Christmas present (Ledger), so I can sleep well knowing my NEX tokens are safe. Merry Christmas to everyone in NEX team, take a holiday break guys, visit your families and enjoy spending time with you loved ones. See you in 2019, year of NEX 