I am not trying to be morbid but do you have a plan if someone other than you has to liquidate your crypto if you couldn't.
My Last Crypto Will
I posed this question at the end of yesterday's post hoping to get some comments. The question was
Do you have a plan for liquidating your cryptocurrencies if you can't?
I didn't receive any comments that addressed this question. Maybe because the question was at the bottom of my post or maybe because everybody but me has a plan.
Are you lucky enough to have a trusted friend who is familiar with crypto? Someone who would only need to know where your crypto is and your passwords. I am not. I have people I trust but every one of them has nothing to do with crypto for one reason or another.
By nature, I can overcomplicate things without really trying. Add my limited knowledge of crypto and I probably created a spider web of crypto. Or, maybe not?
If something happened to me tomorrow, all my crypto would be lost because no one would know where it is or how to get to it. I have accumulated enough crypto that I don't want that to happen.
What I need to do is create a detailed document describing how to liquidate my crypto. I actually started this document about a year ago. Here is that start...
I started this diagram because I was having trouble remembering where everything was. This diagram is way out of date because a lot of the sites went belly up But, I think it shows how complex crypto can get.
Think about some of the things that are involved in liquidating your crypto.
- Move crypto to a common source.
- Delete your delegation
- Unstake your crypto
- Which "crypto bank" to use with which crypto
You also need to make your crypto executor aware of how long it is going to take for the liquidation process.
I would love your thoughts on what needs to be done, any suggestions on how to simplify the process, things not to forget, or anything else I need to know. Thank You
See You At The Bank,
Bob Caine
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