What happens to your crypto if something happens to you? Have you really prepared for that?
This is something that’s been on my mind lately ,and I think it’s something many of us in the crypto space avoid talking about.
We go to great lengths to protect our private keys and seed phrases. Cold wallets, metal backups, multi-sig setups... we lock everything down so no one but us has access. That’s great for security — but what if you suddenly die or fall into a coma? Would your spouse, kids, or family be able to access your crypto?
Many people lose all of their cryptocurrency in the event of an unexpected death or other calamity. They keep it in a secure location where they will be the only ones with access to the private keys because not everyone gives their private keys or the seed phrase to their family members or brothers. This way, if someone passes away unexpectedly, they can be sure they have assets in the cryptocurrency talk less of know how they can access to the wallet.
Because it's not like a bank account that the next of kin could go and claim against the family, it's also crucial for someone to share their crypto information with the people they trust or with their family so that, in the event of an emergency, they won't lose everything they've so far.