If Bitcoin investors fail to create an estate plan, the heirs are threatened Total loss. This is how you ensure that your Bitcoins are not lost in the worst-case scenario.
Hal Finney is a legend in Bitcoin circles. The American helped develop the code for the cryptocurrency and was also the recipient of the very first Bitcoin transaction. When Finney was diagnosed with the nervous disease ALS in 2009, he was forced to undertake another pioneering achievement: he had to regulate his Bitcoin legacy. A topic that was previously only of “academic interest” has become extremely real, he wrote in a touching blog post in March 2013.
The “what if”
Everyone wants a long and healthy life as possible – unfortunately not everyone is granted it. Even in the best of health, one is at no time immune from an accident with serious, in the worst case fatal, consequences. Bitcoin investors in particular need to take precautions for such cases if they do not want to aggravate the pain of loss for their descendants with financial losses. There is a reason why Bitcoin enjoys a special position in this regard: to inherit BTCis more difficult than is the case with other assets. This is nothing new in that it also applies to buying, selling, and storing.