Did you taught your loved ones about how to get your crypto.

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I think this is not the one of the favorite topics to discuss but this does not decrease it's importance. You have amassed the crypto for your future and financial security of your family but what happen when the code (password) that is securing your funds would not allow your family to claim that assets. We all hope for the best but uncertainties in life can never be determined.

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So it is necessary to teach your loved ones about the technical stuff , your account information and where they can find the keys in case of your demise. You need to teach the technical stuff so that they are able to do the transaction and access the wallets on their own as there are chance of fraud if they relied on other person.

I think you can share the public information like your wallet address with your loved ones and keep your keys on a safe or bank locker that will be only opened when execution of your will be done.

For bitcoin, I know there exist "Dead Man Switch" that can transfer the account balance to your heir if you are inactive for a certain amount of time but again your heir need to keep their keys safe and understand the technology.

On my further research I found that there are some blockchain powered solution like Trustverse and[Safehaven(]https://safehaven.io/) though I have no idea how safe these companies are and how they works.

Whatever the method you choose but make sure that your holding should be passed to your heirs.

Posted Using LeoFinance



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6 comments
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You are absolutely right. I don't know myself how many accounts I have. Collecting all this and somehow relating it to somebody else, my family, is something that should be done and maintained and related and trained.

@tipu curate

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Thanks for stopping by, For past few days I am trying to explain all this to my wife but she ask "what is going to happen to me"? , "why do you are thinking so negative"? But I am not negative, I just want to teach and share the information.

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It is necessary to prepare, yes. In case of any emergency, injury, or simply being unable to access the assets personally.

Thanks a gain for reminding us.

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seed password for ledger/trezor and they are good to go :)

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