Zoomers and Millennials are the investors of crypto and make a plan for their digital assets. Many younger crypto holders do not have any plan to pass down digital assets after they die.
The study was conducted among 1,150 from October 2019 to June 2020 by the Cremation institute. According to this study, many crypto holders are focus on passing on their digital assets after they die. But some people fail to use a trust, proper instructions, and wills for the beneficiaries. The main reason for the problem is the scarcity of real estate services that focus on crypto services and the negligence of governmental regulation.
Verdicts of survey
The study recorded that 89% of investors are worried about how their digital assets would transfer to friends or family when they die.
Young investors having an age range from 18 to 40 years don't have any plan for their digital assets when they pass on. Only 41% Zoomers and 65% Millennials said that they had some instructions for digital assets. 94% of baby boomers and 86% of people from Generation X claimed that they have a plan about digital holding after they die.
People who reported that they have a plan said that they left some instruction for their digital assets all around their home. This is the best way because the beneficiary could find these instructions easily. Only 2 % of people used some secure solutions like safety deposit boxes. 32% of people reported using computers or USB sticks to store instructions.
This informative research found that crypto investors were 4-times less likely to utilize bequests for inheritance i.e. only 7% as compared to 32% of non-crypto holders so the institute known as "quite alarming".
The study was conducted among 1,150 from October 2019 to June 2020 by the Cremation institute. According to this study, many crypto holders are focus on passing on their digital assets after they die. But some people fail to use a trust, proper instructions, and wills for the beneficiaries. The main reason for the problem is the scarcity of real estate services that focus on crypto services and the negligence of governmental regulation.
Verdicts of survey
The study recorded that 89% of investors are worried about how their digital assets would transfer to friends or family when they die.
Young investors having an age range from 18 to 40 years don't have any plan for their digital assets when they pass on. Only 41% Zoomers and 65% Millennials said that they had some instructions for digital assets. 94% of baby boomers and 86% of people from Generation X claimed that they have a plan about digital holding after they die.
People who reported that they have a plan said that they left some instruction for their digital assets all around their home. This is the best way because the beneficiary could find these instructions easily. Only 2 % of people used some secure solutions like safety deposit boxes. 32% of people reported using computers or USB sticks to store instructions.
This informative research found that crypto investors were 4-times less likely to utilize bequests for inheritance i.e. only 7% as compared to 32% of non-crypto holders so the institute known as "quite alarming".
Topics:
cryptocurrency
