Dying with crypto

We recently caught up with our mate at EasyEquities, Don Kruger, Head of Product for EasyCrypto. Don is one of the smartest people we know – he did his Masters degree research in the crypto space – and also one of the nicest. Don shares some thoughts on what happens with crypto investments when holders of crypto die.

What happens to your cryptocurrency when you die? It’s a question many crypto enthusiasts and investors don’t often consider, but it’s of paramount importance. In the digital age, where physical assets are becoming less common, the concept of inheritance is evolving.

The Challenge of Crypto Inheritance

Unlike traditional assets, cryptocurrencies are secured by cryptographic keys. If you own crypto, you have a private key that acts as a digital signature, granting you access and ownership over your funds. If this key is lost, so are your funds. This poses a significant challenge for inheritance, as simply bequeathing cryptocurrency in your will doesn’t necessarily give your heirs the tools needed to access it.

Passing on Private Keys: The Direct Approach

The simplest way to ensure your cryptocurrency is passed on is by giving your heirs access to your private keys. This can be done in various ways, such as writing them down, storing them on a physical medium (like a USB or a hardware wallet), or entrusting them to a safe deposit box. However, this method is fraught with risk. If the keys are misplaced, stolen, or destroyed, the assets they protect are gone forever.

The EasyCrypto, EasyEquities & EasyProperties Ecosystem Advantage

Thankfully, there are more secure and seamless solutions available for those who wish to leave their digital legacy. Enter the ecosystem of EasyCrypto, EasyEquities, and EasyProperties. This triumvirate offers an ecosystem where the process of inheritance in the context of your entire investment portfolio, including crypto, is streamlined and secured:

Regulated and Trustworthy: With the inclusion of licensed Financial Service providers, the ecosystem operates under a transparent and well-regulated umbrella. This ensures that your assets are handled with the utmost professionalism and adherence to legal standards.

Annual Audits: Regular audits reinforce the trustworthiness of this platform. This transparency ensures that all operations are above board, providing an added layer of assurance to investors.

Inheritance Solutions: If your crypto assets are held on the EasyCrypto platform, the intricacies of inheritance are taken care of. Instead of navigating the murky waters of private key transfers, your heirs can easily access their inheritance, with the platform acting as a bridge.

High-Security Custody with Fireblocks & BitGo: EasyCrypto’s collaboration with renowned custody solutions like Fireblocks and BitGo ensures that your assets are stored with top-notch security. These custody solutions are known for their stringent safety measures and are trusted by institutions globally.

In conclusion, while the world of cryptocurrency presents new challenges in the realm of inheritance, innovative solutions like the EasyCrypto, EasyEquities, and EasyProperties ecosystem are making the transition smoother and safer. As we delve deeper into the new digital age of democratized investing, ensuring that our digital assets are passed down securely and efficiently will become even more critical.

PS – If you haven’t yet, join the EasyEquities community of over 2 million investors here

PPS – Look out for Don and our many other CN&CO mates who will be running the Otter next month!