Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies Pamela Morgan: Cryptoasset Inheritance Planning
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Jun 21, 2018 Pamela Morgan, a lawyer and founder of Empowered Law and Third Key Solutions, dives into the often-overlooked topic of cryptoasset inheritance planning. She discusses common misconceptions about crypto, the importance of proper key management, and the biggest security mistakes crypto holders make, like leaving funds on exchanges. Pamela emphasizes the need for a simple inheritance plan that includes a letter to loved ones and practical steps to ensure heirs can recover assets easily. She also highlights the psychological barriers to planning for death and offers actionable advice for listeners.
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Multi‑Sig Requires Governance
- Multi-signature is more than tech; process and governance matter equally to prevent losses.
- Third Key Solutions combined technical help (Andreas) with process controls (Pamela) to secure funds.
Don't Keep Crypto On Exchanges
- Avoid leaving funds on exchanges whenever possible because custodial risk and freezing are real.
- Use hardware wallets and learn key management or use trusted tools that let you hold your keys.
Exchange Risk Goes Beyond Hacks
- Exchange risk isn't only hacks; regulatory compliance and KYC can freeze accounts and make funds inaccessible.
- The same banking laws that protect banks create new custody vulnerabilities for exchanges.
