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Welcome to my guest's post. Today I bring you something you have to think about, the reality that we all have to consider hard. As writers in this space, our reward comes in cryptocurrency, and many of us have become experts on handling cryptocurrency, diving into the crypto space and expanding our portfolios. This is a very good thing that has seen a few of us break the jaws of poverty and puts a solid financial basis for the future. But there is something that should be a significant concern for us and all the others who hold cryptocurrency.

There's something to worry about, something that is even outside your crypto portfolio. Who is between you and your crypto portfolio?

We are told to keep our cryptocurrency keys safe and not reveal them to avoid robbing. And that also means keeping it safe from relatives and friends, but should something happen unexpectedly, which may lead us into the world beyond unprepared, what happens to our crypto savings?

I believe this is one thought we should all take into account. Let me explain this in this way, not because someone could die immediately. However, if there is an emergency situation where someone else needs to enter and access your wallets, you only know the details of the wallet. This is a thought that could be scary and we should consider it before something happens.

We have heard of cases of many individuals who have lost access to their crypto portfolio due to loss of private keys or seed phrases. There are probably thousands of such cases that have never been heard of. These people died and let their crypto sit on blockchain forever because no one knows their private keys. Most likely a lot of money was abandoned on the crypto exchanges without being claimed, because the owners did not inform anyone about them, just like no one knew their login details.

It is not just my assumption, but a case of this nature has happened in my country, shared by a friend of a person who suddenly died of a brief illness. Only the friend knows about the crypto portfolio of the deceased because both traded on the binance platform and knows the value of the portfolios of others. This person died and left a cryptocurrency worth $ 3,000 at the time. Those from Nigeria know how much this amount will be when converting into Nigeria currency. The late guy has his wife and children behind, but no one knows his binance login details, and the worst thing was that he never saved the login on his mobile phone. range 1-11

Sadly, there must be several unnamed circumstances in this crypto space. It is not a loss of several dollars, but thousands of dollars. If the amount was small, the family would not care much. This is not a matter of trivia, now we must do the needy to protect the future that we so much dream of.

Crypto can be very beneficial, but it can also be very harmful. Basically, we should learn how to protect our coins properly. We should answer a few questions to help us know exactly how to protect our crypto. What purpose are you saving your crypto? Will you use it to buy things or sell for Fiat later? How will you pass it to members of your family? What measures should we take now to carry family members along with our cryptocurrency journey and have maximum security in our portfolio? These questions are what I think we should ask right now.

If I am not mistaken, most of us are in the crypto space with the eye into the future and this future is still in the distance. Therefore, I think it is necessary to have a trusted person who knows about our cryptocurrency details, if something suddenly exceeds our control, this person can safely manage all the crypto portfolio. In this case, our loved ones can still have access to our crypto when they need it. This does not remove our duties in the care of our crypto, but a way to ensure that we are under control no matter what.

Therefore, I think that it may be nice to assign some part of crypto in the wallet in the trust of our relatives. In this case, we will contact them on the basis of tracking and see if the system can be developed. However; It is certain that most of us here have our own family.

When I thought of this problem, I knew it would be right to act too. In this article I will share some of the strategies I came up with after reviewing the alternatives I saw. Some of us may have done some of them, but I will guide us through my ideas.

The first tip that came to mind is to set up an emergency wallet in the custody of someone very close to a loved one and send some crypto for the purposes of custody. I believe it is a secure and safe way to keep crypto. With some instructions on how to control the wallet, I think it's worth trying. The person should not be involved in any trading unless you give them permission. Even then, you have to make sure that the password and seed phrases on the wallet are stored in a safe place. The person should also know about it. In this case, you now have a human back up for your wallet.

Another way is to carry your family members along your crypto journey. Your wife should best know most of your data, especially your password, so you're synchronized together. In this way, if something happens to you, she has access to your crypto. You should try to inform her about what is happening with your crypto so that if you lose contact at any time or you can't get to your crypto, she will handle it for you.

If you are not married, it is advisable to associate with a close relative who can be your partner in this initiative, but ensure that both are sure. Family members should be an integral part of your crypto journey.

It may sound emotional, but this problem is not about myself, but about my family members at a time when I cannot be there for them.

We must also be careful with whom we provide details about our wallet, if we leave them unguarded, they can perform deeds that affect our financial savings. The stories of people who have lost all their crypto because of the negligence of their loved ones. Such an occurrence caused suicide.

This should not be misunderstood that you should inform your relatives about all your crypto things. Even if you do, there's nothing wrong with it. However, you probably need to define a backup security procedure that ensures that your crypto is safely held in their binding. Moreover, you have to have clarity with your loved ones and explain the scope of access that you would like to provide them with your accounts.

It may sound like I behave like a mediator between you and your family members, but I think that such a security network should exist even for the family members. All that we have in this world is theirs at the end of the day.

In essence, we must bring it to the level where we include our families in our crypto journey such that they do not feel strangled if something unexpected happens down the road.

Good luck in your crypto Journey!

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