Instruction for use
Last updated
Last updated
Note: You can use different decentralized wallets, including cold wallets.
How to create insurance: 1. Go to Recovery Crypto website and connect wallet to the platform
2. Go to App section (Insure now button), click “Create New Insurance” and go to insurance creation window.
3. In the next window enter all the requested data:
- choose required blockchain
- specify the way of asset recovery: by yourself or by Validators. Note: Validators can change payout wallet and enter the requested data in the field that appears for them once they connect their wallets.
- specify quorum, required to execute voting decision.
- select any token(s) you require to insured.
After all fields are filled in, press “Next Stage”.
4. In the new window check the data entered earlier.
Click on Approve button located opposite the tokens. (pay for gas) Take note! When approving tokens, you need to click on "Use default" in the Metamask confirmation window - this way you will not have a limit on the amount in your will.
Important! Native tokens, used for Blockchain transaction payments named Gas, on the Blockchain they are on, cannot be insured, since they will not recover. These tokens must be converted into wrapped tokens.
How to convert tokens to wrapped form:
1. Choose any convenient exchange or Swap of cryptocoins.
2. Connect the wallet containing the native tokens.
3. Вelect your native token in the converter and the token you want to convert to.
For example, you have an Ethereum (ETH) token, you need to convert to Wrapped Ethereum (WETH)
4. Now you can include the wrapped tokens in the insurance and be assured that they will definitely be restored!
Create insurance – click on launch button (pay for gas).
5. In the next window select insurance payment plan.
How to create FREE insurance using Freemium subscription
1. Go to Recovery Crypto website and connect wallet to the platform
2. Go to App section (Insure now button), click Create FREE Insurance” and go to insurance creation window.
3. In the next window enter all the requested data:
- choose required blockchain
- specify the way of asset recovery: by yourself or by Validators. Note: Validators can change payout wallet and enter the requested data in the field that appears for them once they connect their wallets.
- specify quorum, required to execute voting decision.
Note: you will have only one available insurance token in this version of the subscription. It will be automatically added to the Freemium insurance.
After all fields are filled in, press “Next Stage”.
4. In the new window check the data entered.
Click on Approve button located opposite the token (pay for gas) Take note! When approving tokens, you need to click on "Use default" in the Metamask confirmation window - this way you will not have a limit on the amount in your will.
Important! Native tokens, used for Blockchain transaction payments named Gas, on the Blockchain they are on, cannot be insured, since they will not recover. These tokens must be converted into wrapped tokens.
How to convert tokens to wrapped form:
1. Choose any convenient exchange or Swap of cryptocoins.
2. Connect the wallet containing the native tokens.
3. Вelect your native token in the converter and the token you want to convert to.
For example, you have an Ethereum (ETH) token, you need to convert to Wrapped Ethereum (WETH)
4. Now you can include the wrapped tokens in the insurance and be assured that they will definitely be restored!
Create insurance – click on launch button (pay for gas).
5. In the next window select insurance payment plan – Freemium.
Note: You can change conditions of your insurance anytime, such as: the number of Validators and their addresses, the insured tokens, DAO name, emails, add new tokens for insurance, change or upgrade payment plan.
Important! You can restore insured approved assets and only on the blockchain on which the insurance was created. For example, if you created insurance on the polygon network and insured the tokens on this network, then you will not be able to restore them on any other blockchain network!