If at some point in time I come across death, how would I actually preserve my crypto for other family members to enjoy? I mean, this should be a concern to every crypto enthusiast since all the money they've earned over time could easily be lost without the ability to be recovered by someone else. The decentralized nature of crypto, leaves us responsible of protecting our own funds no matter what.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
That should not even be a matter of concern right now, the way that you will guard the document of your house from going to the hand of a wrong person who could claim it is the same way that you should guard your cryptocurrency investment. Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
My advice to you is that you should try and store your coins in a wallet that you can have a very strong password and private key to which I think you can have in a paper wallet, and document it with your bank in which they will be able to open a bank safe for you to store them, but then, you have to also ensure that the bank is not one that will wound up in the future too. You should also back it up too and have a copy of it in a flash where you can store in a hidden place that will be stated on one of your email with highly secured password that will be known by your wife or your children.