Private Key and Mnemonic Policy

1. Introduction

This policy is designed to educate and guide users of Alfred Capital on the responsible handling and protection of their private keys and mnemonic phrases associated with their cryptocurrency and blockchain assets. Private keys and mnemonics are critical components of securing digital assets, and it is essential that users understand their significance.

2. Importance of Private Keys and Mnemonics

- Private Key: A private key is a cryptographic key that provides access to your cryptocurrency holdings and allows you to sign transactions. It is essentially the key to your digital wallet.

- Mnemonic Phrase: A mnemonic phrase (also known as a recovery phrase or seed phrase) is a set of words used to recover a private key or wallet. It is essential for wallet recovery in case of loss.

3. User Responsibilities

3.1. Secure Storage: Users must ensure the secure storage of their private keys and mnemonic phrases. This includes keeping them confidential and protected from unauthorized access.

3.2. Backups: Create and securely store backup copies of your mnemonic phrases. These backups should be kept in a separate, secure location to prevent loss.

3.3. Digital Storage: If storing private keys or mnemonic phrases digitally, use secure, password-protected, and encrypted storage solutions.

3.4. Never Share: Do not share your private keys or mnemonic phrases with anyone. These are for your use only.

3.5. Secure Access: Be cautious when accessing your private keys and mnemonics. Ensure you are in a secure and private environment to prevent exposure to potential threats.

3.6. Do Not Delete: Upon the creation of an embedded wallet with your gmail address, the mnemonics will be saved in the respective email's google drive. Do not delete those files - or else you will loose the access to your wallet.

4. Disclaimer

Alfred Capital is not responsible for any loss of assets due to the mishandling, loss, or exposure of private keys and mnemonic phrases by users. It is the user's responsibility to protect and manage their assets securely.

5. Compliance

Failure to comply with this policy may result in the loss of assets or account access.

6. Updates

This policy may be updated to reflect changes in security practices and user needs. Users may be informed of any policy updates.