Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Bitkey wallet now has a bitcoin inheritance feature

Bitkey wallet now has a bitcoin inheritance feature

HappyCoinNewsHappyCoinNews2025/03/01 23:33
By:HappyCoinNews

Jack Dorsey's Block has built a Bitcoin inheritance feature into the Bitkey hardware wallet, allowing you to designate an heir without having to share PINs or seed phrases while the holder is still alive.

Bitkey wallet now has a bitcoin inheritance feature image 0

The developers noted that in traditional financial instruments, such a process is regulated: you need to specify the beneficiaries, and then the assets will automatically pass to them after the owner's death. However, in the case of Bitcoin, they had to look for a different solution.

According to the company's representatives, each party will receive a portion of the encrypted key. One of the fragments allows the other to be unlocked in the event of the asset owner's death.

Once an inheritance application is submitted, a six-month “security period” is triggered. During this time, the coin owner will receive notifications about the request. This measure will serve as a reliable protection against unauthorized access to the cryptocurrency, Block believes.

After the specified period, the final beneficiary will be able to transfer the cryptocurrency to his own account in the crypto wallet in Bitkey. Only then can he see the balance of the cryptocurrency.

The new feature eliminates the dependence on centralized counterparties and does not require beneficiaries to understand the basics of blockchain technology.

EN @happycoinnews
EN @happycoinnews_en
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Cardano ($ADA) Google Searches Surge to 12-Month High

Cardano ($ADA) search interest hits a 12-month high on Google Trends, signaling growing investor curiosity.What This Means for Cardano’s Future

Coinomedia2025/03/04 05:11

Did Peanut the Squirrel’s Run Slip Away? BTFD Coin’s Bulls Squad Is Exploding—Join Before It’s Too Late

Meme coins have taken over the crypto space, transforming internet culture into high-value assets.BTFD Coin’s Bulls Squad Is Leading the Meme Coin RevolutionPeanut the Squirrel—A Social Media Star Turned Meme Coin SensationFinal Words

Coinomedia2025/03/04 05:11

Cardano ($ADA) Surges in Popularity with 224K Mentions

Cardano ($ADA) saw over 224K mentions in the last 7 days, signaling growing interest and engagement in the crypto space.$ADA Mentions Soar to 224K in a WeekWhat’s Driving the Hype?Could This Impact ADA’s Price?

Coinomedia2025/03/04 05:11

Arctic Pablo Coin’s $0.000070 Entry Could Turn $1K into $114K—While Apu Apustaja & Act I: The AI Prophecy Make Waves in the Market

Explore the best new meme coins to join for long-term gains! Arctic Pablo Coin's presale explodes, Apu Apustaja surges, and Act I: The AI Prophecy takes AI crypto by storm.Earn While You Hold: Arctic Pablo Coin’s 66% APY Staking and Referral IncentivesApu Apustaja Surges as Community Interest PeaksAct I: The AI Prophecy Gains Traction as AI Crypto BoomsFinal Thoughts—Why Arctic Pablo Coin Stands Out

Coinomedia2025/03/04 05:11