banner
Crypto inheritance services on the rise due to the Coronavirus
Crypto inheritance services on the rise due to the Coronavirus
Crypto

Crypto inheritance services on the rise due to the Coronavirus

By Marco Cavicchioli - 27 Mar 2020

Chevron down

During the Covid-19 Coronavirus emergency, two crypto inheritance services companies reported a “dramatic rise” in requests. 

It is very likely that the cause is the panic caused by the pandemic, which is prompting many cryptocurrency holders to find solutions to leave their assets to their inheritors. 

The problem arises because if the tokens are kept on public addresses whose private keys, or the seed of their wallet, are owned entirely by an individual, in the case he/she disappears without disclosing them to anyone, the stored tokens are lost forever

This has already happened several times in the past, and since the storage of tokens on proprietary wallets, i.e. with the exclusive ownership of the private keys or the seed, is highly recommended to avoid having to entrust them to third parties that are not necessarily secure and protected, the problem continues to persist.

However, the solution is very simple: leave in inheritance the private keys or the seed using special services, or a simple will

For this reason, Casa Hodl and Unchained Capital have revealed a significant increase this month in requests received for their crypto inheritance services. 

Clients are requesting several services to ensure that their heirs can inherit their crypto inheritance without any problems.

Unchained Capital’s Chief Product Officer, Will Cole, said: 

“We’ve seen more demand [than at any other time] in our history over the past month for vaults”.

The CEO of Casa Hodl, Nick Neuman, confirmed the competitor’s claim, saying that more than half of the requests received this month were for the inheritance service, with the number of customers in the first three weeks of March being three times that of January and February combined. 

Frankly, it is even possible to imagine a further increase in these requests, perhaps even after the emergency, since the more cryptocurrencies will enter the portfolios of investors, especially the larger ones, the more these needs will be felt. 

 

Marco Cavicchioli
Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.