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Young crypto investors are not planning …

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You Can Still Get Rich With Cryptocurrency Without Investing A Lot! Here’s why…

Young crypto investors are not planning ...

Young crypto investors do not plan to bequeath their assets to anyone
CONTENT

  • 89% of crypto investors are worried about what will happen to their crypto assets after they die.

  • Most do not plan to take any organizational measures in this regard..

  • In addition to psychological factors, this is due to the lack of special services and regulation.

International consortium of news organizations developing transparency standards.

Almost 90% of investors are worried about what will become of their cryptoassets after they die. However, they are in no hurry to take any measures on this matter..

According to the results of a study conducted by The Cremation Institute, representatives of the youngest generations – “millennials” and “zoomers” – do not make any plans as to who, in the event of their sudden death, will inherit their crypto assets..

I see a problem …

Young crypto investors are not planning ...

In the last decade, the world has witnessed a boom in digital assets, which are positioned as the most protected from unauthorized external encroachments. Meanwhile, such security also creates certain problems..

According to data from Coinmetrics.io, there are currently about 12 thousand bitcoin millionaires in the world. However, they are all mere mortals, and their untimely death can lead to the fact that members of their families – and sometimes users of entire exchanges – will forever lose access to such digital money..

According to the results of a study conducted by experts from The Cremation Institute, 89% of cryptocurrency investors are aware of the presence of such a risk. None of the survey participants stated about “complete absence of concern”.

The study was conducted from October 20, 2019 to June 3, 2020 and covered 1,150 participants aged 19 to 73. Although the number of respondents is small, it still raises questions about the current trends in the issue of inheritance of crypto assets..

What happens to bitcoins “lost” in the crypto space after the death of their owner? Join the discussion in our Telegram channel – and you will find out everything!

… I don’t see a solution

89% of those surveyed expressed some degree of concern about whether their relatives or friends will be able to receive their crypto assets in the event of their death. Meanwhile, only 23% of respondents took care to take appropriate measures and order regarding the order of inheritance of their digital assets..

This approach is especially characteristic of the generation of 18-40 year olds. Only 65% ​​of “millennials” and 41% of “buzzers” reported that they had prepared any instructions regarding their cryptoassets. Meanwhile, representatives of the older generations – “Generation X” and “boomers” – more thoroughly prepared for their demise. In these groups, the same indicator was 86% and 94%, respectively. In general, younger generations are about 10 times less concerned with plans in the event of their deaths than older ones..

Young crypto investors are not planning ...

In this case, as a rule, we are talking about some orders stored directly at home, where they can be easily found. 32% of respondents chose the option with storing instructions for accessing their assets on a flash drive or computer. Only 2% used such a secure solution as safe deposit boxes in banks.

Only 7% of respondents reported their readiness to write a will. For comparison, among investors in non-digital assets, this figure is 32%. According to experts, this moment is of particular concern.

Most likely, in addition to the general psychological discomfort when thinking about death, crypto investors are held back by such factors as the obvious lack of niche services with a focus on crypto assets, as well as the lack of proper government regulation of this segment in many jurisdictions..

As a result of this disorganization, the world, according to Coincover estimates, has already lost about 4 million bitcoins due to the death of their owners. The current situation, of course, requires attention from the crypto community and the creation of specialized services dealing with the inheritance of digital assets..

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