Crypto Wallet Guide: From Backing Up Private Keys to Inheritance Planning

Most crypto holders have never seriously asked themselves: if something happens to me, who can access my coins? Exchange accounts have customer service to contact (a lengthy process), but on-chain wallets — without the private key, the assets are lost forever. Satoshi Nakamoto's million-plus BTC have never moved, most likely because the private key was lost. This article is written for crypto users themselves, and for their families.

How to Back Up Correctly

The seed phrase is everything — 12 or 24 English words. Backup principle: store offline. Do not screenshot it, do not copy it into a cloud note, do not send it over WeChat. Write it on paper and keep it somewhere secure. But paper can be lost, soaked, or burned — so back it up twice: paper plus encrypted digital storage. TimeWill's password vault is AES-256 encrypted, far safer than a cloud note for storing a seed phrase.

Wallet Types and Backup Methods

• MetaMask — Settings → Security & Privacy → Reveal Secret Recovery Phrase → enter password → write down the 12-word seed phrase. The private key is a 64-character hexadecimal string
• TokenPocket — My → Wallet Management → Export Private Key / Seed Phrase. Supports multi-chain wallets; each chain has its own private key
• Ledger / Trezor Hardware Wallet — The seed phrase is given during initialization. The private key never leaves the hardware. When handing over, give the device together with the PIN
• Exchanges (Binance / OKX) — Not a wallet. Account + password + GA code + bound phone — all four are required. Encrypt and store the complete set

How Family Operates After Death — One Guide Is Enough

Most family members do not understand blockchain. You need to write a detailed operating guide in TimeWill: step one, which wallet to install; step two, how to import the seed phrase (include screenshots); step three, who to ask for help with transfers (recommend a reliable crypto-savvy friend's WeChat). Do not expect your family to search Google — they will not even know what to type.

Seed Phrase vs Private Key — In Simple Terms

A private key is the key to a single address; a seed phrase is the key to all addresses. One wallet may hold coins across multiple chains — BTC, ETH, USDT — and the seed phrase can recover all of them. So storing the seed phrase is enough (storing one seed phrase is equivalent to storing the entire wallet). The private key is generated from the seed phrase and generally does not need a separate backup.