What Happens to Your BTC When You Die?



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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW

QuadrigaCX: https://www.coindesk.com/quadriga-creditor-protection-filing
BTC Estate Planning: https://www.livebitcoinnews.com/bitcoin-estate-planning-what-happens-to-your-cryptocurrency-holdings-after-you-die/
More here: https://www.bitcoinmarketjournal.com/bitcoin-estate-planning/
Third Key Solutions: https://thirdkey.solutions/
Wealth Management: https://www.wealthmanagement.com/estate-planning/estate-planning-bitcoin-explained

If you have ever found yourself wondering what’s so bad with using centralized exchanges, that is, exchanges that store your cryptocurrencies for you, one need not look further than this past month. We saw the CEO of a South Korean exchange get prison time for falsifying the trading volume on his exchange, we saw an exchange in New Zealand get hacked, lose complete control of the majority of their holdings to the point where three weeks later the hackers are still draining the wallets. And now after the death of the CEO of a Canadian exchange, roughly 26 thousand Bitcoins have been lost for good. This last one certainly points out the obvious flaw of centralized control over wallets that hold cryptocurrencies for other people, but it also touches on one morbid aspect to cryptocurrencies that I think is too often over looked.

Bitcoin isn’t a fad, it is a technology and financial tool that is here to stay and will only continue to prove its value over time. Take a moment to consider the importance of the investment you’ve made in this new emerging technology and consider the future value of your holdings. Chances are that value will far outlive you. Without trying to sound like an ad for a Bitcoin estate management firm, I just want to encourage you to create a backup plan for the worst case scenario. If you have kids or family members that would benefit from your foresight, or if there is a worthy charity or foundation that you’d prefer to support, think about how you should organize your assets to be transferred to them in the case of your death. There are some reputable companies that can assist you in this, I’ll leave some links down below if you’re interested in learning more.
This is a morbid video I know, but it’s something that we will all face in the end. But don’t worry, I did find the silver lining. If you pass on and your Bitcoin are frozen forever in your wallets, you’ll have at least contributed to decreasing the supply and making Bitcoin all the more valuable.

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