31 Dec Tell your family members and friends you have bitcoin in case anything happens to you
Hi guys, my brother recently passed away and I noticed in his emails a seed phrase and some btc market emails (totally by chance). Have had some helpful advice on how to recover in a previous post.
My mum and dad have no idea what crypto is so if I hadn’t seen the email his crypto would be gone forever. Not only would he hate that idea but any crypto he did have could help my mum and dad out with costs they have had to spend arranging things.
If you are young and own crypto tell other people (that you trust) that you have some and how they could obtain it in the event you pass away. I know this is difficult as you want to protect what you have but there needs to be a middle point. Perhaps split up speed phrases among multiple family members and let them know the order? Also let them know how to use a seed phrase.
While traditional bank accounts are often looked down at by this community, the benefit is that a solicitor/lawyer can access them and all the details can be passed on.
The anonymity of crypto is not only a positive but also a negative in my view. What is the point of it all if it can so easily disappear into the ether. Even a wrong address means its gone forever however a wrong bank account can often be reversed.
Would be interested to hear what others think in regards to how to combat this problem. What is the solution here?