Crypto inheritance: If the main attraction to Bitcoin (and cryptocurrency) is its relative privacy, you may not be especially keen to share your private keys with your loved ones. An attacker could sift through your papers, weaponize your keys and empty your savings.
Indeed, most privacy-focused Bitcoin investors are used to keeping their private keys a total secret. But when the Grim Reaper shows up unannounced, the family of a crypto millionaire can be left without access to their relative’s riches.
Bitcoin estate planning
In one of the most widely publicized examples, paranoid U.S. investor Matthew Mellon died in 2018, leaving few clues to a crypto fortune valued at $500 million. There are ways to help people keep their asset information safe, while allowing it to be used for legacy purposes.
“One way to solve inheritance with crypto wallets is through social recovery,” Lukas Schor, co-founder of Safe, told BeInCrypto….
