BUT did you die!? Well, you might.
So this is something I’ve been talking about with a few people who are invested as well as the couple who are a part of my shenanigans with crypto.
👉🏼 I’m interested to hear what (if anything?) everyone here is doing.
💀 In the event of an unfortunate situation of a tragedy where you’re no longer on this earth how are you ensuring your cryptos are accessible to your heirs? We all know it’s not like other assets that can be clearly retrieved and passed on.
🤷🏼♂️ Are you preparing for it? Not thought about it? Or already have something in place?
💡 The system I have with those who have funds within my wallets or exchanges is this:
My first thought was a wallet that no one knew the phrase to or we all had pieces of the phrase. Then the issue is I needed access to the wallets 24/7 for trading...so the next idea came and it’s what we’re rolling with:
I have 100% of the funds in wallets I have access to. Everyone has monitoring keys but no withdrawal keys. Any amount over the initial fund value we can vote to either pull or retain for more buying power. It was very important to ensure the initial amount can never be withdrawn, the last thing you want is to lose buying power once you’ve made people a few bucks. If decided to pull we have a paper wallet that requires all 3 of us to access withdraw keys but we all have deposit/monitoring keys. We will send the profits to this wallet for future shares.
If one of us meets our maker prematurely their wishes and portion of withdrawal key is delivered to each remaining member. From here we can send their assets to their heirs or whatever it may be that they wish, but it doesn’t lock us out while offering the security we need.
💰For personal wallets I have all of my keys to be delivered to a single person if I should pass. I’ve included instructions as well on how to retrieve them.💰
🤷🏼♂️ I have one friend who has already discussed this with their partner and given them the keys to their personal wallets.
What are y’alls thoughts on this? What are you doing about it? 👇🏼👇🏼👇🏼
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