Global acceptance of Bitcoin and other cryptocurrencies is growing, and more people are investing in them and purchasing large quantities. While a lot of people are busy buying and stockpiling digital assets, they also want to keep their keys and wallet safe from hackers. They forget about what will happen to these assets when they die. In contrast, death is an unanticipated occurrence.
In a Twitter conversation, a man promised to hand over his private key to his wife if he died before she did. He vowed to make a video clearing up for his significant other how to utilize his confidential key.
There needs to be more discussion about this. You are required to provide the names and addresses of your relatives when opening an account at a traditional bank. The case with cryptocurrency wallets is different. When it comes to cryptocurrencies, things are very different, especially on decentralized exchanges where KYC is not required.
The fact that young people are spending a lot of money in cryptocurrencies suggests that it is easier for them to do so than anywhere else. In the event that you suddenly pass away, it's a good idea to give someone you can trust access to your cryptographic data, login credentials, and keys.
When someone dies, their assets and crypto wallet keys are also lost. They have lost everything they have worked for and all of their assets. It would be prudent to discuss your cryptocurrency investments with your spouse.
You can make a video and give it to your lawyer if you don't feel comfortable doing this; This way, your hard-earned money won't be lost if you die.
I don't mind giving my wife access to my cryptographic keys when I get married because I think it's right.