WalletPort — Introduction
Protect your Crypto, secure your future.
In recent weeks and months, one major talking point within the crypto space has been around the self-custody of assets. Not your keys, not your coins. We’ve all heard it at least once. It’s a topic that cannot be understated especially given the recent high-profile collapse of FTX and the huge number of losses incurred by users that opted to store large chunks of their net worth within the exchange believing it was too big to fail. It should serve as a stark reminder of the reality of the Crypto space at present that there is nothing that beats the safety of securely storing your own digital assets. However, there are still some existing threats that exist to those that have taken even the sternest precautionary measures to exercise self-custody of their assets.
There’s no shortage of examples of stories from people that have lost access to their seed phrases and therefore lost access to their wallets. It’s estimated that since its inception, around 20% of the current Bitcoin supply is either lost or locked in wallets. Take for example James Howell who first bought Bitcoin for close to nothing in 2009. In 2021 we were notoriously introduced to James and his story as it was revealed that he had mistakenly thrown away a hard drive that contained 7,500 $BTC back in 2013. At all-time high prices, that’s an estimated $516,000,000 of Bitcoin that was lost to a landfill in Newport.
It seems crazy to think that something like this can happen without a pitfall or insurance to aid in recovering lost funds like this. Bitcoin is a powerful technological revolution the likes of which we’ve never seen before and may never see again. With great power comes great responsibility, with regards to self-custody that is. But still, it seems unthinkable that one mistake or oversight can be this costly. How many people have felt this same pain?
This leads to another complex issue when dealing with the topic of self-custody. Death. It’s something we’d all prefer to ignore but must acknowledge. Whether we like it or not, it comes for us all. It’s impossible to accurately estimate how much of the 20% of the existing Bitcoin supply has been lost through the lack of a contingency plan following an untimely death but it’s fair to assume it’s a sizeable amount.
It’s vital to also consider that despite the fact Bitcoin and the crypto space is for everyone, at present, it’s a heavily male-dominated space, with some estimates claiming the gender split in the Bitcoin community alone is 85% male and 15% female. Imagine the plethora of issues that this causes for husbands with partners completely oblivious to anything to do with crypto that suddenly finds themselves without a partner and access to their funds. The same situation, of course, can apply to the reversal of genders but the fact remains at present that this scenario does seem the most plausible of the two.
Herein lies the opportunity. We are all duty-bound to educate others as best as we possibly can about the Web3 space. Unfortunately, sometimes it’s still not enough. This has led us to create Walletport. Walletport will act as an additional layer of security for both you and your assets. A safety net that protects your crypto from being lost in the event of lost keys or sudden death as we brushed on above. The number of crypto users is continuing to grow year on year, despite the unfavourable market conditions we’ve seen in recent months. This places greater emphasis on the need to safely and securely help in the onboarding of new users into the space.
Everyone by now has heard something about crypto, whether it be negative or positive. We’ve all heard of the cut-throat nature in which mistakes can be costly and users can lose out on fortunes through simple mistakes, mishandling of information or unforeseen circumstances like an untimely death. WalletPort has been created to combat a number of these existing issues with the hope of making the space safer, more secure, and more approachable for outsiders. You need only connect to our protocol and WalletPort takes care of the rest.
The Team
Harry Iqbal — Founder
With an extensive background in banking, asset management and private investing in stocks, Harry entered Web3 initially in the form of investing in Bitcoin mining stocks. Soon after he found himself delving into Altcoins and has since been operating as a fund manager for a Crypto VC, managing a portfolio of over 100+ crypto assets. An insatiable interest in the space has led him to spend time within a variety of communities within the Crypto ecosystem, running Twitter spaces weekly and networking from the ground up. In addition, Harry has worked with many projects within the DeFi space, as well as several NFT projects and DAO’s, contributing to community growth and marketing. His collective knowledge and experience landed him spots on a number of podcasts including Bankless Dao & The Bald CEO Show.
Dominic Ryder — Head Of Strategy
Dominic started his career in traditional finance as a Derivatives Trader, Wealth Manager & spent time working for a VC, specialising in asset-backed investing. After branching into the Web3 space, Dominic established himself as the CEO of vEmpire DDAO, a project of his own making, which grew to over $600m fully diluted MC at its ATH & is currently listed on Tier One exchanges like KuCoin & Huobi. Additionally, Dominick serves as an advisor to multiple other successful projects in the space. His vast experience has allowed him to help other founders in a variety of ways and in recent months he has been integral in establishing TONSMA, a specialised marketing agency which primarily focuses on the Crypto ecosystem.
Artorias — Head of Technology
A massive Web3 enthusiast, Artorias is the co-Founder of CULT and RVLT. He has spent the majority of 2022 working with the CULT community with the vision of helping to construct a pathway towards a more decentralised future. Artorias is most comfortable when reading smart contracts and the documentation of any number of DeFi protocols. He’ll bring a cutting-edge technical perspective to WalletPort, as well as an extensive network of like-minded, experienced Web3 contributors.
Kyle Chasse — Advisor
With over 11 years of experience in the blockchain sector, Kyle Chasse leads Master Ventures, a venture studio with over 65 employees. His contributions to the blockchain industry started as early as 2014, with Kyle notably creating the first Bitcoin lottery. Kyle has advised on tokenomics, product development, business growth, and fundraising for numerous businesses listed on Binance.
