It’s straightforward—if you don’t take the initiative, no one else will—neither your software nor hardware wallet, your exchange, or your wealth manager. Thus, you need to consider what is necessary to safeguard the Bitcoin wealth you’ve amassed and minimize the risks associated with transferring that wealth to your family or heirs. Establish a Bitcoin inheritance management plan without delay.
You will lose your Bitcoin and other crypto when you die.
Unless you establish a Bitcoin Inheritance Management plan today.
- Wallets can be challenging to manage and lack crypto inheritance solutions. Most advise you to jot down your seed phrase on paper, which is largely ineffective.
- Some individuals secure their wallet seed phrases or private keys on paper, local devices like hardware wallets or USBs, or even in the cloud—all of which come with significant drawbacks, from hacking to accidental loss and total failure of cloud services. Nobody wishes to jeopardize their crypto generational wealth.
- Software wallets function on limited blockchains, but your crypto assets could be spread across various blockchains. To ensure effective inheritance, you need to be able to manage it across all blockchains—now and into the future.
Vault12 is the trailblazer in crypto inheritance solutions; check out our explainer video here.
What are the hurdles with crypto inheritance?
- You require an updated list of wallet seed phrases and private keys. Just like any other inheritance, you need to present this information to your attorneys. However, with frequent crypto purchases across various blockchains, it can be easy to overlook backing up essential details. If seed phrases aren’t backed up, those assets cannot be transferred to your descendants.
- It is essential to maintain the confidentiality of all data related to your seed phrases and private keys. When recording them on paper, engraving them, or saving them on devices like USBs, you can’t always know who might inadvertently gain access. This risk must be acknowledged, as it could lead to drained accounts.
- You must address critical points of failure—personal devices and cloud storage. The greatest risk associated with inheritance is over-reliance on single devices, which can be lost, stolen, or damaged. Additionally, you may rely too heavily on one or more cloud service providers, leading to complications when business partnerships fail or cloud systems face disruptions caused by malware or software errors.
Watch our explainer video here.
Inheritance: Prepare today.
Vault12 Crypto Inheritance represents an innovative solution that offers a seamless and secure approach for designating a legacy contact for your software wallets. This allows you to pass your wallet seed phrases and private keys—including Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies—to future generations.
This cutting-edge, decentralized system allows users to select a person or mobile device as the Guardian. The appointed guardian is responsible for safeguarding the user’s entire collection of wallet seed phrases and private keys, securely housed within a decentralized digital Vault.
This mechanism alleviates potential failure points and eliminates the need to frequently update wallet inventories or change directives for your lawyers, which often results in privacy risks. It is the optimal method to secure generational wealth.
Discover how it works, here.
Start by backing up your software wallets.
Designed to complement traditional hardware and software, Vault12 Guard assists cryptocurrency holders in backing up their wallet seed phrases and private keys (assets) without keeping anything on the cloud or in any singular location. This boosts security and lowers the chances of loss.
The Vault12 Guard application allows for secure decentralized backups while providing inheritance for all your seed phrases and private keys across multiple blockchains, including Bitcoin, Ethereum, ERC-20, and additional crypto wallets.
Note: For those new to cryptocurrencies, Vault12 refers to wallet seed phrases and private keys as assets, crypto assets, and digital assets. The main purpose of the Vault is to safeguard your Bitcoin (BTC) or Ethereum (ETH) wallet seed phrases, private keys, and other crucial data for the present and future generations.
