Re: Binance's will function after death... Perfect for bitcoin
How many coins are you confident in to still do well after a couple of years? After you have already passed away? How many coins would you want to pass on to your children? For me, the answer is bitcoin. It is one of the few, if not the only one, I am confident that will still have good value over 10 or 15 years or maybe even more. It has always been a topic of discussion how to pass on the bitcoins we are holding now when we pass unexpectedly or not.
Well, Binance founder CZ has suggested a function to be used in binance where one can set up a will and put in a contact to which the coins will be given to after you have passed. Either the coins will be passed to your trusted person if the account is inactive for a specific amount of time or your family can submit a death certificate. This sounds to me a fool proof function. Could there be downsides to this function?
See here.
Well, Binance founder CZ has suggested a function to be used in binance where one can set up a will and put in a contact to which the coins will be given to after you have passed. Either the coins will be passed to your trusted person if the account is inactive for a specific amount of time or your family can submit a death certificate. This sounds to me a fool proof function. Could there be downsides to this function?
See here.
1.I'm not so sure about Bitcoin having extremely high value after 10 or 15 years. Maybe AI and quantum computing will change the crypto world forever.
2.I don't have children, so I couldn't care less about crypto inheritance and all that stuff.
3.Should we really trust a big centralized crypto exchange like Binance holding ours coins and giving them to our children, after we die?
What Binance tries to find a way to block the accounts forever and never give the coins to the people in the will?
Just look at Binance's trustpilot score. 1.5 out of 5... Binance seems like a totally legit and trustworthy company.
What could possibly go wrong?