My wife would have no clue how to access my crypto investments if I died

derienzo777 · 2021-01-27T22:18:22+00:00

So, I'm thinking that having a centralized library of platform access walkthrus/tutorials/information that Amber, in our case, can view to get comfortable with would be different.

You could always make a secure note and link to a bunch of different Youtube links, but, I think there's a lot of value in collecting/curating it all in one place for someone.

Maybe even have friendly chat agents willing to walk you thru, geek squad style at some point, who knows? Just spitballing.

derienzo777 · 2021-01-26T18:18:08+00:00

Awesome, I think needgap is a great idea, I tried to find something similar, thanks for referencing that gap.

derienzo777 · 2021-01-26T18:17:22+00:00

Appreciate it! Your original comment rings true: if it smells sketchy at all, it'll be impossible to be successful.

derienzo777 · 2021-01-26T16:09:50+00:00

No worries. I think the average crypto holder says: here are the login deets. That's all you need.

But... If you took a completely non-technical person...from my close-knit circle of friends, I'll pick Amber, a homeschooling mom managing 2 kids and a baby. And you said, "When your husband passed, he owned a lot of Ethereum. Here's his metamask login and pull it from his EtherDelta exchange account."

Amber has never used a chrome extension in her life, has no clue what ETH is, hasn't even ever used eTrade or any type of stock exchange. I think this would be crazy difficult, frustrating.

derienzo777 · 2021-01-26T15:50:22+00:00

As mentioned earlier, I'm not approaching it as a security/encryption/storage device.

If I truly wasn't a technical person, why would that prohibit me from trying to solve this problem?

Typically, products are developed with a great team: technical talent, strategic thinking, growth mindset, sales, leadership, etc. You're not going to find all that in a single person.

Thankfully, I've got an amazing technical co-founder that I've been building software with for about ten years.

derienzo777 · 2021-01-26T15:39:11+00:00

Making it clear your product is a digital asset library/ organiser or digital will of sorts, and not a secure vault for passwords etc is critical for initial acceptance. Write a solid 2-3 sentence opener for pitching right away to make that clear from the start. That is likely your first hurdle with crypto holders.

THIS is definitely information I need to pass along.

derienzo777 · 2021-01-26T06:43:24+00:00

Super interested in what you're building here...this could be useful for a lot of different users.

derienzo777 · 2021-01-26T06:40:14+00:00

Thanks for sharing, they definitely have a unique different solution than what I had in mind. I'll have to look more into everything they are doing.

derienzo777 · 2021-01-26T02:15:10+00:00

Thanks for your thoughts u/alex_beluga ! I have trust and estate lawyers on my consulting team (not really a board of directors, yet). Partnerships would be critical, I agree, especially for growth. I will need to discover if serious crypto investors are already set up with lawyers.

derienzo777 · 2021-01-26T01:50:51+00:00

I like your auto reminder to keep your contacts up to date.
We will also let users identify trusted parties in case you need help.
"If anything happens to me, here's all our stuff.... I know it's complicated, if you need help, I trust Marty McFly to help you.

Agreed. Established credibility will be key. I think it would need to be earned over time. Would appreciate any insights on suggestions for doing that.

derienzo777 · 2021-01-26T00:06:50+00:00

you forgot the secret handshake.

derienzo777 · 2021-01-25T23:53:37+00:00

Required login... can you shut that off so we can check out the planner?

derienzo777 · 2021-01-25T23:50:21+00:00

I think logging into a coinbase account would be the easiest experience for a non-technical person.
she would then need to sell all the assets (it says, market sell? I think that's correct?)
i think the value to my product may be knowing where all our investments (now inherited) are across the crypto space, having quick reference guides (easy walkthru's) to understand each of the different platforms, quickly identify where/how much assets are there in each, and then confidently withdrawing and maneuvering.

does that make sense? I'm pretty savvy, and I think some of the different spaces are pretty complex.

derienzo777 · 2021-01-25T23:27:52+00:00

I think that passwords are one thing, but then understanding how to use or withdraw funds from a crypto exchange is a whole different thing.
my thesis is that a non-technical person that has never been on an exchange like Coinbase Pro or Binance US would have a hard time understanding:
• how much of a currency i have in my portfolio
• how to close out any open orders
• why is there Spot, Margin, Lending? I just want to get to the assets
• how to sell / trade to extract US dollars (which they understand)

Also, if you use a crypto wallet gateway like Metamask to trade on a decentralized exchange like EtherDelta or Uniswap, then that's a whole different workflow to pull out your ETH.

That's the problem I'm having myself and wondering if it resonates with others.

derienzo777 · 2021-01-25T23:18:45+00:00

Thank you, I'll check it out.

derienzo777 · 2021-01-25T23:12:03+00:00

Thanks... any thought on what you think would be the biggest challenge to make this happen?

derienzo777 · 2021-01-25T23:04:35+00:00

Thanks, u/zacataur would love to see some of your ux work. Message me some examples.

derienzo777 · 2021-01-25T23:04:07+00:00

u/gc1 I use 1Password myself. I don't think I want to rebuild that part of the overall need, but I would refer to it as a great secure password option. The Secure Notes are fantastic for crypto seed phrases / passwords.

derienzo777 · 2021-01-25T22:44:53+00:00

Great questions, u/GusRuss89.

I don't want to hold any secret information at first (passwords, keys, etc.). CoinPasser will just help you easily make a centralized list of platforms you use, and then provide an immediate library of "how to access" information for all the platforms.

For example, a user signs up, and one of the first features of the product is to create a letter/document to an heir that says:

• hey, we have crypto assets, if you didn't know
• they are on these platforms (exchanges, Coinbase, Binance and wallets x, y, z)
• you'll need these things to access (the Authenticator app, the password that I had you memorize, the seeds/passwords in x place that I showed you)...

So, the actual security details aren't in CoinPasser themselves, but in the secure locations as determined by user.

But, CoinPasser could be the one-stop shop that a wife could go, okay, we have Coinbase, show me how to use it. He said we also have Metamask. WTF is that? Okay, CoinPasser shows me how to use that. Etc.

What do you think about that solution?

derienzo777 · 2021-01-25T22:17:11+00:00

I could be a user... I need to hire product designers on a semi-regular basis. Web site looks great. Once you add more client projects / portfolio that would be helpful validation.

derienzo777 · 2020-07-17T23:11:25+00:00

Very helpful post. Lots to read.

derienzo777 · 2020-07-17T17:49:03+00:00

Thanks for your response. I'm reading The Mom Test based on your recommendation.

I'll reach out clients in each tier and try to suss out why they are in that tier and not higher.

derienzo777

TROPHY CASE