Wednesday, May 27, 2020

Settling up your bitcoin to be safely inherited

I’d like to prepare my bitcoin to be inherited with the idea in mind that I die suddenly so as not to allow time for me to reveal information on my deathbed. I’m having a hard time figuring out how to do this safely.

1) I’m sure I could just give someone (like my lawyer) my private keys to be revealed in the event of my death, but I have a feeling the wallet would be empty.

2) I can put my private key in a bank safe deposit box, but then I’d be paying to keep it safe every year, even though it’s not terribly expensive.

3) I’m sure companies like Coinbase have a way for family members to access a dead relative’s crypto, but the I have to leave my coins on an exchange vulnerable to attack.

4) Best I can think of is to keep coins on a hardware wallet and give the password to an attorney to be revealed upon my death. That way, at least the device and password are separate even though the situation is not ideal.

Right now, most of my coins are on an exchange. Anyone else have thoughts on this?


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