What Happens to Cryptocurrencies When Someone Dies?

The family of a man who died this year realized that he was a Bitcoin investor. However, the only way to access crypto wallets, which are protected by very strict methods, is through a special password belonging to the wallet. So what happens to our cryptocurrencies when we die?

Unbreakable cryptography a virtual currency protected by Bitcoin ‘This feature of.; to store her wealth a safe way makes it. However, this feature also means that when Bitcoin holders die, their digital wealth is very difficult to access, which means tech-savvy individuals investing in the market, which is currently worth around $70 billion. for relatives an extremely serious problem.

This year Family of a young man who died in Cloloradodiscovered that the man was a Bitcoin investor while they shared the inheritance. The family that has risen to inherit the wealth has one small hurdle: To inherit the wealth, they must first gain access to cryptocurrency.

So, is it possible to access the cryptocurrency wallet of a deceased person?

Bitcoinler in a virtual wallet is stored and each virtual wallet has a random string of characters visible to everyone to receive and send cryptocurrency. “open key” It has an address. “Private key” grants access to the owner’s wallet. If a Bitcoin holder dies without telling anyone the private key, the money in the wallet is no one can reach It means. To avoid this situation, a copy of the private key can be written down and stored on a flash memory drive, or someone who will manage these accounts instead of themselves. can entrust a commercial service; However, these methods have their own risks.

A will and estate attorney Suzanne Walsh; executors and heirs, what a private Bitcoin key is that they may not understand and as a result the key think it’s garbage He says they can. The benefit of a commercial service emerges precisely at this point.

Walsh, Colorado man’s family probably The reason why he can get Bitcoins says this is it. A popular wallet and exchange service CoinbaseThe family discovered that the man had invested in Bitcoin after reviewing the bank account that revealed the debts to . He applied to the San Francisco company, which confirmed the existence of the wallet through documents in the family’s possession and started the process of transferring the contents. Thus, the family; made a small Bitcoin fortune


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However, there are still people who lost the key to their Bitcoin passbook and lost all their wealth. For this reason, be your own account password. try not to lose.