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?
A lot of people might say, “I’ve written it down somewhere, they’ll figure it out.” But let’s be honest — in a real emergency, things get messy. Crypto isn’t like a traditional bank account where someone can just present a death certificate and get access. If you haven’t made a clear and secure plan, your coins could end up lost forever.
I actually know someone this happened to — a guy I met a while back died unexpectedly in an accident. He had a cold wallet with a decent chunk of BTC, and to this day, his wife still hasn’t been able to recover any of it. He didn’t use any kind of inheritance system or trusted setup. It’s just... gone.
I am also worried about this because I have read here several times that we shouldn't discuss our seed phrase or private key with anyone, while some people opposed it, and I also come to think of it because as a Bitcoin holder, what is the essence of leaving your wealth behind if your loved ones can't access it, especially when they know you are investing in Bitcoin? That doesn't make sense, in my opinion.
At least one trusted family member should have a secure record of your Bitcoin wallet's private key or seed phrases either your spouse or parents. If they don't know anything about it, you can teach them about the basics of Bitcoin, wallet, and security best practices, and you can watch them handle small amounts of Bitcoin to make sure they understand the procedure before the worst could happen.