Conversations around death are tough to have as most people, especially young people, find them very uncomfortable. But the answer to this question is highly dependent on where your Cryptocurrencies are held, how you invest, and the plans you have in place today to ensure that the people in your life have access to your Crypto in case anything happens to you today.
According to Fortune, over 4 Million Bitcoins are lost and can never be accessed because the owners passed on without any plan to pass the keys and other credentials to their next of kin. In most cases, the next of kin and supposed beneficiaries don’t even know those Bitcoins existed. Imagine what the figure would look like if we add other Crypto coins and assets like bank accounts.
So what happens to your Bitcoin in the event of eventualities is dependent on what you do today and how you hold your Crypto. If you pass on today without proper Crypto Estate planning in place, your assets are gone forever.
At Cova, we are building a tool that helps you track all your assets and pass the information to your loved ones in the event of an emergency. We believe you should be in control of all your assets today and beyond.