When investing in cryptocurrency, it is extremely important to plan for death or incapacity. A private key/password is required to transfer virtual currency. Without the password, no one can access the virtual currency and the investment becomes worthless. Individuals with investments in cryptocurrency should provide their loved ones with their passwords to protect their digital assets once they are deceased. Cryptocurrency is decentralized, which means family members will not be able to contact the government or a bank to find out information regarding cryptocurrency accounts or investments. If an individual does not plan properly, their cryptocurrency investments could end up lost forever.
One great way to make sure your loved ones will have access to your cryptocurrency investments is by using a password manager to store all your important usernames and passwords. A highly accredited password management app is Keeper by Keeper Security. The Keeper app can be downloaded on mobile devices or on desktop computers. You can visit the Keeper website and download the app here.