BFW Insights Blog

How to leave cryptocurrency in your Will

Written by Amy Peters | Nov 11, 2021 10:53:27 AM

Often fondly referred to as ‘crypto’, cryptocurrency is a digital asset that can be bought, spent, saved or sold using specialist blockchain technology on decentralized computer networks. There are a number of different digital currencies available such as Bitcoin, Ethereum, Binance Coin and Ripple. Even the Bank of England are considering a launch of the so called ‘Britcoin’.

Cryptocurrency is stored within a digital wallet which can be hardware-based or web-based. In order to access the digital wallet, users must have their own cryptographic keys which come in the form of a private key and a public key which should be kept as securely as possible as they are the only thing that protects your digital asset.

Just like any other asset such as money, property and possessions cryptocurrency can be left in your Will.

How is cryptocurrency different to other assets in a Will?

Cryptocurrency can be left in a Will to beneficiaries just like any other asset and stating who the cryptocurrency should be left to is the easy part however, the tricky aspect is providing the ability to access and transfer it.

Unlike property, for example, where access can be as simple as the turn of a key, its not possible to access cryptocurrency without holding the private key which is always advised to be kept as secret as possible.

How to ensure your cryptocurrency is accessible

There are several ways to ensure that cryptocurrency assets are accessible by your loved ones when the times comes and in a way that doesn’t compromise safety and security in the meantime:

  1. Purchase and store cryptocurrency at a cryptocurrency bank and have the bank manage the keys on your behalf. This will mean that you just need to leave details of the crypto bank and your account with your loved ones. However, this does mean that you won’t actually own your cryptocurrency or have control of it as it will be stored with a custodian.

  2. Store your cryptocurrency online in a non-custodial multi-sig wallet and sign up for a cryptocurrency inheritance solution. Here you keep full control of your assets in your own wallet, with your own keys but in the event of a loss of access, or death, the services provides for two independent parties to come together to retrieve the funds on your behalf. In this instance you’d be provided with a beneficiary card to give you loved ones, identifying who to turn to should the unexpected happen.

  3. Hold your cryptocurrency on a hardware wallet in which you have stored a copy of the private keys for the wallet, or the 12-word seed recovery phrase for the wallet along with step-by-step instructions on how the wallet can be access in a safe-deposit box or vault.


The first step in passing your cryptocurrency on is to ensure your executors and beneficiaries know of it’s existence by calling it out within your Will or compiling a list of your digital assets to be kept with your will. The next step is making provisions for it’s access by a secure means that you are comfortable with.

What is the next step?

Deciding to make a will is a big step and a lot of careful decisions need to be made. If you are confused by wills and don't know where to start speak to a member of our team we will be able to advise you.