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Research: "89% of people worry about what will happen to their cryptocurrencies after death»

Research: “89% of people worry about what will happen to their cryptocurrencies after death»

A study By the Institute of cremation (CI) found that the vast majority of cryptocurrency owners worry about how to pass their digital assets by inheritance after death.

The study, which was conducted from October 2019 to June 2020, surveyed 1,150 respondents. As it turned out, although people are worried about passing their cryptocurrencies to their heirs, most of them have not included digital assets in wills or trusts and have not provided instructions on how to get these cryptocurrencies. According to analysts, this is a consequence of the lack of services for inheritance of cryptocurrencies and government regulation.

89% of respondents said that they at least thought about how to transfer cryptocurrencies to family or friends in the event of their death. At the same time, young respondents aged 18 to 40 do not have a specific plan for transferring digital assets, while older generations either left instructions or used a will or trust to transfer cryptocurrencies.

CI researchers noted that only 7% of owners of digital assets use wills to transfer cryptocurrencies by inheritance. For comparison, 32% of owners of traditional assets use this tool.

Recall that in early 2019, the canadian cryptocurrency exchange QuadrigaCX unexpectedly closed. As it turned out, the founder of the platform died suddenly and the private keys for access to assets disappeared with him. In addition, last fall, the startup Casa launched a special solution for transferring bitcoins by inheritance.