Cryptocurrency Will Making
Estate and cryptocurrency inheritance planning.
We work with international lawyers and solicitors to help you formalise a will that encompasses your digital assets and currency. It is very important not only to write down which digital coins you own, but also where they are stored and how to find and access them and access them when the time comes.
It pays to be practical and level headed when dealing with a potentially large cryptocurrency inheritance. We are here to make this necessary process simple and quick for you, for further information
Important information you need to know
Cryptocurrency and Bitcoin investments are very different to regulated and mainstream investments. This will of course change as governments are working on new regulations and mainstream adoption is only a few years away.
For now, we need to look at ensuring that your loved ones understand what this asset is and how to access your digital wallets. We also need to ensure that your chosen beneficiaries understand how to sell this digital currency directly into their bank account.
Some investors have one bitcoin wallet and this makes it very simple, however many investors have diversified into alt coins and have multiple digital wallets.
More complicated cryptocurrency investments
Cryptocurrency can be stored on exchanges, paper wallets, desktop wallets, mobile wallets, hard drives, laptops, usb’s and hardware wallets.
Cryptocurrencies can be lent out for a daily, weekly and monthly return on cryptocurrency lending platforms.
There are ICO’s and STO’s (very similar to IPO’s) investments where money has been invested in start-up blockchain and cryptocurrency companies.
This could be early stage seed money for a start-up.
Mining can be done using an actual mining rig and GPU, or cloud mining on a website.
There are some alt coins that can be staked. Staking involves holding a certain coin/token in a designated digital wallet to support the security and operations of a blockchain network. Staking is simply an arrangement to lock in a number of your cryptocurrency to receive a reward. Rewards are usually paid out on a regular basis as a percentage of an investors holdings. Think compound interest. Each staking coin has a separate wallet.
Cryptocurrency and bitcoin domain names
Some investors have made a great deal of money buying domain names in the blockchain and cryptocurrency sector. For example www.cryptonews.com sold for $50,000 and some crypto domains sold for over a million dollars.
Blockchain and cryptocurrency options
There are websites that allow option trading (similar to stocks) on the price direction of bitcoin and some select altcoins.