Why Every Crypto Holder Should Set A Next Of Kin Option!
This is why having a next of kin option in crypto isn’t just important, it should be the norm.
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🕒 5:42 AM
📅 Jun 29, 2025
✍️ By prejworld
What Happens to Your Crypto If Something Happens to You?
As cryptocurrency becomes a bigger part of our lives, people are storing more and more of their wealth in it. But there's a big question that often gets forgotten: what happens to your crypto if you pass away or lose access to it?
Unlike traditional banks, cryptocurrency doesn't have a "forgot password" button or a automatic process for passing on assets after death. If you lose your private keys, your funds are gone forever.
This is a huge problem. Billions of dollars in cryptocurrency are believed to be locked away forever because their owners died without sharing access. This can be prevented with a simple next of kin plan.
Why Next of Kin Settings Matter
- Protecting family wealth: Crypto is becoming a big part of long-term savings and retirement plans. Without a clear plan, all that value could disappear.
- Avoiding stress: When someone passes away, their family is already dealing with a lot. Adding lost digital assets to the mix can make things even harder.
- Building trust: If crypto platforms offer secure and easy ways to pass on assets, more people will feel comfortable investing.
How It Can Work
Some platforms already offer ways to pass on cryptocurrency. Here's how it could work:
- You add a trusted next of kin when you create your account.
- If you're inactive for a while, a secure process is triggered to transfer access.
- With proper documentation, your next of kin can get access to your funds.
Cryptocurrency gives people control over their money, but it also comes with big responsibilities. Setting up next of kin options should be a standard practice in the industry. It's not just about preventing loss; it's about protecting the future.