The current emergency for the spread of covid-19 is leading many cryptocurrency enthusiasts to wonder what will become of their crypto assets when they are gone. Some crypto startups like Casa and Unchained Capital deal with these bureaucratic aspects of the sector, and are now registering a large number of requests for help.
Home and Unchained Capital: peak activity
Companies like Casa and Unchained Capital say they have seen a huge increase in business in the past two weeks. The covid-19 health emergency is also causing profound reflection, and many people are worried that something will happen to them without ever having nominated a recipient for their holdings in bitcoin or other cryptocurrencies, and that their digital funds will eventually be lost in the time and space.
Will Cole - Unchained Chief Product Officer - commented in an interview: "We have seen more requests in recent months than at any other time in our history." According to media reports, the coronavirus, at the time of this writing, has caused over 14.000 victims worldwide.
The positive aspects of such a transaction
Moreover, over 300.000 cases have emerged in all corners of the world. The good news is that bitcoin cannot technically be transferred to anyone without a private key. Therefore, it cannot be taken directly by a government agency or other organization.
However, he is still in danger of being "lost" or unclaimed if the right person does not obtain the key in question. Nick Neuman - CEO of Casa - says that the number of people requesting these services from his company has tripled between the months of January and March, and that the most popular product at the time of printing is his hereditary Diamond portfolio.
Neuman says he is looking to add new features to the wallet so that people can potentially move to gold and platinum levels according to their specific needs: “We allow customers to hold their private keys and securely transfer their bitcoins to their heirs in case this is necessary so that customers never have to give up donating their bitcoins to third parties. "
A difficult but necessary thought
Although it may be considered an uncomfortable topic, many analysts advise cryptocurrency enthusiasts to seriously consider this issue and take the time to make sure they always end up in the right hands.
Alex Bosworth - an engineer at Lightning Labs - wrote on Twitter: "It is not nice to think about it, but it may be prudent to have a detailed plan on what will happen to your bitcoins when you are no longer there."
And what do you think of it? You are trading bitcoins with automatic trading platforms like Bitcoin Pro and you wish to inherit your profits from the next unborn children? Let us know in the comments below.