Password Manager?
What is a password manager?
Nowadays, a password manageris an important tool that is good to have in your basket of digital tools. They have become extremely popular due to the fact that they are easy to use and very handy – they keep a record of your long passwords, so you don’t have to remember them.
Almost everybody needs a password manager. No matter what type of website you use, from dating apps, to your fitness and nutrition app, to the most endangered – your mobile bank account, stock trading platform or crypto wallet – the website insists on creating a user account and a strong password for it.
Furthermore, many of us no longer have just one main computer that we use to surf the Internet. We usually have several devices in use, and most of us want to access our bank account, for example, from any device – phone or laptop – and from anywhere.
In addition to that, people these days have an ever-increasing number of accounts for different assets, such as:
Company stocks ETFs Stock options and RSUs Cryptocurrencies Insurance policies Neobank accounts
It is difficult to remember all the usernames and passwords, and statistics show an alarming trend of the ever-increasing number of passwords used by the average person on a daily basis. More and more people are seeking a solution to ensure that their passwords will not be stolen or lost.
But no matter what solution is chosen, users of a password manager should make sure that it has certain basic characteristics and capabilities.
Let’s have a look at them.
How important is it to use a password manager?
Whether you like password managers or not, they:
- help you to organize your credentials and keep track of them
- take the hassle out of remembering your strong passwords
- protect you from hackers
- are able to protect your credentials from being locked for your rightful beneficiaries
Most password managers aim at protecting your passwords from being hacked or forgotten. Almost none of the existing password management tools, though, aim at protecting your digital inheritance from being locked for your rightful beneficiaries.
Basic characteristics and capabilities
The basic characteristics and capabilities that every good password manager should have include the following:
- full encryption of all data
- multi-factor authentication
- the ability to download and upload files
- sharing with your loved ones
- 24/7 access from anywhere
Whatever you choose, it should satisfy your personal and family needs.
Why using a password manager is so critical for you and your family
A secure solution can allow you to consolidate all your usernames and passwords in one place, but there are even more important reasons to use one.
The first reason is that the number of online tools that people use regularly is ever increasing, and for an active online user, the passwords they use are probably more than the 27 (according to a study) used by an average American.
Using the same password for all accounts is a big security risk, and remembering dozens of different strong passwords is practically impossible.
It’s not easy to come up with such passwords in the first place, never mind store them and track them.
Giving your loved ones access to your chosen accounts in case of an unforeseen event is of utmost importance to protect your assets. Most password management tools don’t allow you to share important passwords with your beneficiaries in case anything happens to you!
How big is the risk of not using a password manager?
- Not using a password manager makes your device vulnerable to being infected with viruses and malicious software, which could compromise your passwords.
- Storing your passwords locally on your computer makes you an easy victim of hacker attacks.
- Storing your private crypto wallet keys on your hard drive puts you at risk and exposes you to the danger of losing them if the device is broken or stolen. You can lose access to your cryptocurrencies forever.
- Not having 24/7 access to your password credentials could be crucial in certain situations.
- Using a spreadsheet – an unencrypted environment – instead of a password manager makes you highly vulnerable to attack.
How do you write a simple will for free?
A simple and very reasonable question you might have is “How do I write a simple will for free?” The simple answer is by writing a valid holographic will.
EncryptionIn the case of a security breach, the hackers won’t be able to read your data. To do so, the hackers must not only get access to the service itself but also, at the same time, get access to the encryption keys.
Multi-factor authentication
This ensures that if someone gets access to your account, they won’t be able to actually log in to the account because of the 2FA.
24/7 access from anywhere
That sounds pretty basic, right? But you’d be surprised how many password managers don’t provide access from anywhere.
Proactive notification of your loved ones
This is another great capability which only a few password managers and digital vaults provide – the ability to proactively inform your family members about the designated assets or passwords.
Digital Inheritance
This functionality allows your designated beneficiaries to be granted access to your password should an unforeseen event happen to you.
HOW IT WORKS
Protect your loved ones quickly and easily
Set up “alive” event
Crucial for the system's functioning, this step allows us to monitor that you are “alive”, we name it HeartBeat protocol. You have the option to adjust according to your preferences.
Catalog your assets
Catalogue the assets via DGLegacy, with minimum basic information needed, allowing your beneficiaries to identify and locate them.
Protect your assets
In case of a cyber security breach in a company which holds your assets, or media alerts for a risk related to its financial stability, DGLegacy will proactively notify you.
Invite beneficiaries and trustees
To add beneficiaries and trusties you need only their basic contact information - email and name. They will receive an invitational email.
Detection of fatal event
The Heartbeat protocol of DGLegacy, custom-engineered for your safety, confirms your well-being and detects any unexpected events. We proactively notify your beneficiaries about their designated assets in case of a tragic event.
TESTIMONIALS
Why DGLegacy® is the #1 place to secure your assets
DGLegacy is great for protecting my assets and my family. So far I was storing my assets’ information on a google sheet shared with my wife, but I always worried that my assets will be lost if …
Victor
Strategic Alliances Manager - dmarcian
This is a service that could make you sleep well in a time of crisis. Knowing your family is sorted out and you have every valuable under control is priceless.
Vlad
Senior Engineering Manager - VMware
Atlanta, Georgia, United States.
Finally a peace of mind. I always wanted a tool where I could see a snapshot of my assets, track them, and decide what to share, with whom and when.
Because my assets were stored in different systems …
Ingrid Henke
Founder - ARRIVA relocation services
Berlin, Germany.
Knowing that DGLegacy exists is such a relief! Up till now, I’ve put my head in the sand when it came to thinking about my assets because it was so stressful with no real solution in sight. I ca…
Alara Vural
Founder - Alara Vural Coaching
London, UK.
I have been using a secure vault and password manager for years but I always worried that my family won’t be aware of most of this information if they need it. I really like that DGLegacy combines p…
Agnieszka Michalik
Software Architect - HERE Technologies
Berlin, Germany
DGLegacy enables me to easily track and organize all my passwords and assets.
The most important thing is that the digital inheritance capability of the service ensures that loved ones will be informe…
Stella Schmitz
International HR Executive
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