Just witnessed a road accident while travelling from work.
Forced me into thinking if I died today no one among my loved ones will come to know about my crypto investments.
As for my Mutual Funds, Bank accounts and other assets I already have nominees among my family members.
But how can we make sure that even our crypto also has inheritance?
How about including crypto keys in one's will?
Has anyone thought about it?
#cryptocurrency #inheritance of #cryptowealth
Source for Pic :Pixabay
This is so kind of you to think about your family. I have saved and hidden some investments for my sister and made sure only she can find the keys in case something happens to me. I like little puzzle pieces, in case someone finds the trail. It's also cool that people might find out there was more about people like us than meets the eye.
First of all, your keys should be in a usb for maximum security. Show the usb to your relatives without giving them access to it, either by hiding it or by placing it somewhere safe.
Then explain that in case you die, your crypto keys will be in there. Ideally you could teach them how to use them, but yeah... not simple.
Yeah nice suggestion... Been thinking on the same lines too.
Store all private keys on a dedicated pendrive and name it's owner in the will.
Also add a pdf file explaining how it all works properly.
i think its time Crypto project comes up with solutions yo this, a kind of smart contract yhat exist ss a will for the loved ones.
You could probably write it into your will and add instructions on how to use it.
I would say a paper wallet made to be fireprrof, waterproof etc. Would be a great way. Your relavites/loved ones could figure out enough about crypto without messing anything up. It is not unreasonable to think that a non crypto savvy person would mess up with a a hardware wallet or app.
You can see some reccoemndations here: https://blog.lopp.net/metal-bitcoin-seed-storage-stress-test--part-ii-/
Have gone through the link mentioned in the answer.
I am amazed that such devices exist, thanks for sharing the information.
I am going to do some research on the topic and then only form an opinion.
Best of Luck!