Let's Talk—Have You Planned For Your Cryptocurrency Legal Heir?

in blog •  10 months ago

I understand for many of us it's not a subject we're often comfortable discussing, but let's face it we're all going to die! It's just a matter of time. But the fact is that the only certainty in life is... death!

Before you scream out saying Cryonics FTW, we're not quite there yet! Besides, most of us won't have access to such systems even if it were available for use in the mainstream.


Source

I went through a near-fatal accident a year ago. Ever since this subject remained in the back of my head until on a call with a friend who mentioned yesterday that she retains a copy of her Steemit keys with her brother and vice versa and suddenly I had this realisation that I haven't planned for this scenario myself.

I have a sizeable savings in cryptocurrencies and this results in wallets, keys, passwords and PINs. There are exchange passwords, 2FA and email accounts. How do you relay this across to your family, especially the ones you can trust but are total noobs when it comes to understanding the complexities of transacting in this space.

Is there any service out there that makes all of this easy? I personally don't know. I assume this would be a sizeable market and multi-sig will and testament businesses will have a lot of work to handle if cryptocurrencies were to go mainstream. Infact it could be profitable to be in a business that gives access to your holdings and passwords should things go wrong earlier than expected.

Losing your Steemit key is bad enough but imagine losing access to your entire portfolio. Worse still, many of us earn for improving our livelihood and providing for our families. What if we pass away without ever handing over precious keys to our families? Has this thought ever occurred to you?

I'm now trying to plan for such contingencies and would love to hear from you about your strategies for such eventualities. How are you going about accomplishing these things to ensure your assets benefit your family in the event of your unexpected passing.


If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:

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nice ☝🏼

All ready upvote you

I think it is the most wise idea. We need the heir for electronic money and steem. Maybe it can be more valuable in the future. I am with you.

I always read your articles my friend is still a junior who needs your help sir ..

That's why people should be more informed about crypto and the government should embrace the system and backing it up.