For Crypto Investors, Do You Have a Back-up Person?
We always hear about "securing" our crypto- wallets, by making sure say our passphase is not to be shared with anyone else.
Thought: What happens when a crypto-investor pass away?
Here in the Philippines, a lot of people still feels it a taboo to be speaking about death. I think I must be more practical than sentimental, and I am throwing this out there- in case you, an investor dies, what happens to your crypto-investment?
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Here are some likely scenarios:
Having truly secured the wallet, these crypto are now forever lost in space. Yay for other token/coin holders, a portion less from total supply hence more chances of price increase!
Beneficiaries see the wallets, but are non-crypto hoomans equivalent to muggles in Harry Potter, and do not realize these even has worth.
Beneficiaries see the wallets and has awareness about crypto and its worth, but doesn't have credentials to access.
A
BACK-UP PERSON, who has been briefed, would know what to do to ensure beneficiary receives the assets.
I'm sure everyone would prefer the fourth option. Please tell me you have made arrangement of sorts to have this covered. It would be such a shame to learn that hard-earned money, and the portfolio that has grown x times, will be put to waste.
I have a system on storing my credentials, and my backup person would know where to look in case. I am blessed to have one who is also very knowledgeable on crypto and trading. I would probably be kicking myself if options 1, 2 or 3 happen knowing that my family could have made good use of the funds instead.
I hope you spend time as well thinking about ensuring your hard-earned crypto is put to good use.
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Now Im gonna get my back-up person haha, actually ive been thinking of it lately but thanks for the realization @dreamiely. :)
Yep, better to have this sorted now, and have a peaceful heart knowing the matters are in order. We never know what life throws at us lol
Wow!! Unti unti na akong natututo sa cryptocurrenct weee
Yay! Before you know it you'll be posting about crypto as well @deeday31! ^_^
Sana i'll meet my reincarnation haha para sya yung back up person ko. Lol wag lang sana ako maging ipis next life 😂
Lol. Ayaw mo talaga ng ibang tao? Haha. Pero piliing mabuti ang trustworthy ^_^
Ibang tao? Mahirap na, pareparehas lang yang mga yan. Hay. #loveyourself hahah lol
Yung totoo, anong pinagdaanan natin? Hahahaha. I'm sure you can find one person you can trust hehe
I agree. I have all my information stored on a separate USB Key and paper wallets so in case anything happens to me, my beneficiaries will have access to it. When the time comes, I will also include it in my Will.
Yes, better safe than sorry. And you should, my gosh your coins have made a crazy run this past few months!
Ako ikaw😍😍
Such a great taste you have. Good choice! Hahahaha
omg I didn't think about this! thanks dreamy!
You're welcome momi! Go go go make arrangements! ^_^
I also wrote about this and I suggested to have a digital will. Until I realized it will only be useless if I am giving it the the people who don't have any idea about cryptos and such.
This is an amazing suggestion ate @dreamiely!!! Right now, I am thinking of teaching my sister about cryptos.