bitcoinBTC/USD
$ 19,863.68
ethereumETH/USD
$ 1,136.96
tetherUSDT/USD
$ 0.9999
cardanoADA/USD
$ 0.457808
xrpXRP/USD
$ 0.322395
usd-coinUSDC/USD
$ 1.00

Exchange Project to Provide BTC Access to Loved Ones in the Event of the HODLers Death

If BTC traders do not give anybody else accessibility to their wallets, their BTC may be lost for good in the event of their demise.

If Bitcoin (BTC) traders do not give anybody else accessibility to their wallets, their Bitcoin (BTC) may be lost for good on the blockchain in the event of their demise. Nonetheless, another alternative is to be provided to Bitcoin (BTC) holders by an exchange project. 

According to a survey published in 2020, numerous cryptocurrency traders are concerned about what will become of their crypto assets once they die. 89% of the survey participants were worried about their assets being distributed to relatives or friends after their passing.

The CEO of Digital Financial Exchange (DIFX), Jeetu Kataria spoke for Cointelegraph on the significance of being able to give crypto assets to next of kin or loved ones in the event of a holder’s death. Jeetu Kataria said that the project has developed a blockchain nomination project through which users can select family, friends, or trusted persons to inherit the holdings in their crypto wallets should the holder pass away. 

“Crypto is here to stay, and having this feature is necessary for securing the digital future. If you are an avid crypto trader like me, I am sure that the thought of who will inherit your crypto has come to mind,” said Kataria. 

A blockchain-based approach, according to the CEO, guarantees that the validity of recipients is confirmed and not disputed. Kataria argues that the approach is more reliable and effective than handing out private keys and access details. 

Though many traders may like the functionality, those who desire the autonomy afforded by the decentralized nature of blockchain may not be as thrilled by this development. Kataria, on the other hand, considers that centralization of this nature is essential to the mass mainstreaming of cryptocurrencies.

Kataria also argues that “centralization also puts a face and accountability for many of the projects in the crypto industry. This adds to the organization having consistency in its services and attracting more of the traditional financial markets.”

At the present Crypto Expo Dubai, DIFX unveiled the functionality as well as a new corporate brand. The system enables the exchange to achieve its goal of becoming more centered around the needs of the users. This is a technique for the DIFX team to alleviate clients of touchpoints and misgivings, according to Kataria.

Also read:

Related News

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government.

Crypto Policy Symposium 2022: The First Anti-Crypto Conference

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government. Critics of the industry and doubters have joined together to host their own anti-crypto conference where they can express their doubts and connect with legislators in the midst of the most recent crypto bear market. The Crypto Policy Symposium promises to provide skeptics a platform

Read More »
One of the co-founders of OpenSea, the largest Non-Fungible Token (NFT) market in the Web 3.0 ecosystem, Alex Atallah, has stated that by the end of July, he will step down as active manager while remaining on the board.

Co-Founder Of OpenSea Announces He Is Stepping Down As Active Manager

One of the co-founders of OpenSea, the largest Non-Fungible Token (NFT) market in the Web 3.0 ecosystem, Alex Atallah, has stated that by the end of July, he will step down as active manager while remaining on the board. Atallah, who co-founded OpenSea with CEO Devin Finzer in 2017, has played a significant role in the growth of the business. His responsibilities have included community and marketing and product development, among other

Read More »
Updates have been provided on the current service freeze and new recovery efforts were outlined by the company.

Potential Solutions Are Being Considered By Celsius

Strategic deals and liabilities restructuring are being explored by Celsius. Updates have been provided on the current service freeze and new recovery efforts were outlined by the company. On June 12th, all transitions, withdrawals, and swaps were put on pause by Celsius and as of now, the company is looking for ways to recover. “Important steps to preserve and protect assets and explore options” are being taken by the company, per

Read More »

My Coins

bitcoinBitcoin
$ 19,863.683.22%
ethereumEthereum
$ 1,136.967.48%
cardanoCardano
$ 0.4578081.61%
tetherTether
$ 0.99990.08%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org