What Happens To My Bitcoin When I Die – Bitcoin Magazine


This is an opinion editorial by Prasad Prabhakaran, COO and cofounder of HexaWallet.

keys handing over an inheritance of bitcoin

Over time, an estimated 4 million bitcoin have been lost and are now in inaccessible wallets. It is unknown how many of those coins belonged to HODLers who died without sharing access to their wallets with anyone else.

If you manage your Bitcoin keys, you must devise a strategy for passing on your wealth, or your bitcoin will be lost forever.

Bitcoin inheritance is still poorly understood because most Bitcoin holders are young and, as a result, do not often think about death or inheritance.

As this Cointelegraph article states, “According to a 2020 study by the Cremation Institute, nearly 90% of crypto owners are worried about what will happen to their crypto after they pass away. Furthermore, despite a high level of concern, crypto holders are reportedly four times less likely to use wills for inheritances than non-crypto investors.”

If bitcoin is a new investment for you, it’s crucial to plan for the long term, which includes considering what will happen to your bitcoin after your death.

Source link Bitcoin Magazine


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