bitcoinafterlife
f03a985ae5
All checks were successful
Build and deploy docs / deploy (push) Successful in 3s
22 lines
1.5 KiB
Markdown
22 lines
1.5 KiB
Markdown
# :material-lifebuoy: Using BAL as a wallet recovery net (or wallet backup)
|
|
|
|
Inheritance is not the only use for a time-locked transaction. The same mechanism gives you a **decentralized safety net against losing your seed**.
|
|
|
|
## The idea
|
|
|
|
Set up an inheritance whose beneficiary is a **second wallet you control** — for example a mobile wallet on your phone.
|
|
|
|
If you lose access to the original wallet and therefore stop opening Electrum, the Will-Executors broadcast the transaction on the delivery date and the funds arrive in your backup wallet. If you keep access, you simply keep postponing the date and nothing ever happens.
|
|
|
|
## What you need
|
|
|
|
- A **second wallet already set up**, whose receiving address you know and whose keys you can actually access.
|
|
- The BAL plugin configured on the wallet you want to protect, with that address as the beneficiary.
|
|
- A delivery date you are comfortable with, and the discipline to keep it refreshed — see [Keeping the will up to date](updating.md).
|
|
|
|
!!! warning "The backup wallet must be genuinely independent"
|
|
A recovery destination whose keys live on the same device, or are derived from the same seed, protects you from nothing. Use a different device and a different seed, stored separately.
|
|
|
|
!!! tip "It combines with inheritance"
|
|
Nothing stops you from listing both a recovery address of your own and your heirs. Remember that the plugin always distributes 100% of the wallet — see [Heirs and shares](heirs.md#the-wallet-is-always-emptied-to-100).
|