What Happens To Your Crypto When You Die?


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What happens to your crypto when you die is something that has been on my mind ever since I lost two close relatives this last month!

I have been off Hive for over a month now because of some issues at home as briefly mentioned above.

I lost both my cousin and aunt in a space of three weeks!
Anyway, I got the idea for this post from the above experience!

I did attend the after meetings after the burial of both relatives and obviously among the things discussed is the access to their social security fund and other assets.

Not Your Keys Not Your Crypto

In crypto, this statement above is mounted a lot and I am not in any way against it, in fact, that is how it is supposed to be!

We are told to always guard our private keys/recovery phrases as our life depended on them.
Pixabay Image

It is good to guard and keep our keys as secret as possible, because if anyone gets access to them then they will have access to our funds.

Let me ask a question,
In case of serious injury or death, how can these keys be accessed by others who are your loved ones?

What happens to your crypto when you die?
I know all of us are in crypto and working hard so that we can have better lives, but none of us knows the exact day we shall die!

Does any of you have a way your crypto can be accessed by your kids, wife, husband or parents or by your loved ones in case you suddenly die?

I know most naturally think that we shall die in old age! We assume that we have more than 40-50 years on earth, but truth be told no one fucking knows when they will die.

I remember my late cousin talking to me about his plans after he gets his retirement package! We had this talk just a month before he died suddenly.

He was healthy and had many plans just like all of us. I have heard there is a possibility of claiming his money through the family though it will take time.

So I ask again, what happens to your crypto when you die? Does it just get locked up in whatever wallet or exchange forever?

Does it mean that all the sacrifices you did while accumulating that crypto goes to waste as your loved ones cannot gain access to it?

Is there a way for your loved ones to access your crypto after you die and if it is there what is it and how can it be set up?

I would really love to get answers to this, engage in the comments below.

Cover image designed by me on Canva.

Jarau Moses

Posted Using LeoFinance Beta