You do! Webacy adopts a no-access policy, which means that we don’t hold your passwords anywhere. We do not ever ask for private keys, seed phrases, or passwords. No one accesses your wallet but you. Our unique recovery solution actually allows you to assign specific assets in your wallet to another backup wallet of your choice that allows you to recover those assets in an emergency event. This technology uses factory proxy smart contracts. Webacy has no control over these smart contracts and never will.
On the Pro Plan you can add an unlimited amount of wallets to Wallet Watch and to set up unlimited wallets as your Backup and Panic Button destination.On the Starter Plan you can only monitor one wallet for Wallet Watch.
You can use any custodial, non-custodial or hardware wallets as your backup wallet. We recommend that users use a completely separate wallet as their Backup Wallet. For example, if a Metamask is used as a main wallet, and Ledger could be used as the backup.
Webacy’s Pro plan has been priced to be accessible to all crypto users at $100/year. You also have the option to pay in crypto as well (primarily stable coins). When multiple wallets are added to the Webacy Watch service, there are additional costs associated with monitoring multiple chains and routing the on-chain data via API relayers to Web2 services that power the text message and e-mail notifications you receive.
A Webacy protection plan stores the directives you've set for specific assets and backup wallets on-chain so that your safety triggers are purely decentralized. We've worked hard to optimize gas by having part of the directives encrypted and store on IPFS. Gas fees should typically not be more than the equivalent of $10-20 USD (in ETH) to set up a typical protection plan.
If you suspect a vulnerability in your wallet (i.e. you’re getting hacked, you’ve been alerted of a phishing attempt, or a systemwide compromise), your Panic Button allows you to eject your assets to the Backup Wallet you set. You can trigger this Panic Button from the main Webacy Dashboard if you still have access to your Primary Wallet. If you don’t, follow the instructions below for using Webacy’s Backup Wallet function.
Backup Wallet allows you to recover your assets in case you’ve lost your seed phrase, private keys, forget your password, or for some other reason get locked out of your Primary wallet. You can click “Connect with Backup Wallet” at the main Webacy dApp log-in page. Backup Wallet is useful if you’ve lost access to your Primary wallet. If you still have access but would like to bulk transfer your assets out of your original wallet, use Panic Button. If you don’t have enough gas in your original wallet in a Panic situation, you can still use the Backup Wallet with ETH to retrieve your assets (useful in an ETH drainer situation). If you are still unable to retrieve your assets, you may be a candidate for Webacy’s Rescue service offering.
We’re big fans of NFT wallet and whale-watching services. They specialize in helping you monitor other highlighted users and their activity. Webacy is designed primarily for you to monitor your own wallets (and to protect them with Webacy Pro) for the purposes of safety and security, not for trading or profit.
Have more questions? View our Docs or Join our Discord to get live support from a Webacy team member.