Crypto Assets Guide

Why Track Crypto Assets?

Cryptocurrency and blockchain-based assets are uniquely vulnerable to permanent loss. Unlike traditional bank accounts, there is no institution that can recover funds if access keys are lost. Without a record of your wallets, exchange accounts, and security details, your crypto holdings may become permanently inaccessible to your loved ones.

Key Terminology

Understanding these terms is essential for managing crypto assets and ensuring your beneficiaries can access them.

How to Add Crypto Assets

Recording your crypto assets ensures they are included in your estate plan and your trusted contacts know how to find and access them.

1. Go to Asset Management → Personal Asset Tracker → Crypto Assets
2. Click "Add Crypto Asset"
3. Select the asset type (cryptocurrency, exchange account, DeFi wallet, hardware wallet, or NFT)
4. Enter the platform or provider name
5. Add wallet addresses and storage details where relevant
6. Record the estimated value and currency
7. Set up access and security information (2FA, recovery codes)
8. Upload supporting documents (statements, screenshots)
9. Save the asset to your portfolio

Security Best Practices

Crypto assets require especially careful security planning. Unlike traditional accounts, there is no "forgot password" option for blockchain wallets.

• Never store private keys or seed phrases directly in Orchard72. Record their physical locations instead
• Use the "hints" feature to describe where access information is stored (e.g. "hardware wallet in the safe")
• Record which accounts use two-factor authentication and where backup codes are kept
• Document whether funds are on an exchange (custodial) or in a personal wallet (self-custody)
• Keep seed phrases and recovery keys in a secure offline location (e.g. safety deposit box)
• Consider splitting seed phrases across multiple secure locations for added protection
• Review and update your crypto asset records regularly as holdings and values change

Crypto Assets & Your Will

Cryptocurrency is treated as property in most jurisdictions and can be inherited like other assets. However, the unique nature of blockchain assets creates specific estate planning considerations:

• Cryptocurrency in personal wallets becomes permanently inaccessible without the private key or seed phrase
• Exchange accounts may have their own inheritance processes, so check your exchange’s policies
• NFTs and DeFi positions may require technical knowledge to manage or liquidate
• Crypto values are volatile, so consider recording both the quantity and current value
• Tax obligations on crypto vary by jurisdiction and may apply when assets are transferred

Is it safe to record cryptocurrency details here?

Orchard72 is designed for recording asset information, not storing actual credentials. Record the name, platform, and approximate value of your cryptocurrency holdings. For security details, use the hints feature to describe where access keys are stored physically (e.g. "hardware wallet in the safe") rather than entering the keys themselves.

Should I record each cryptocurrency separately?

If you hold multiple cryptocurrencies on the same exchange, you can record the exchange account as a single entry. For self-custody wallets, it is helpful to record each wallet separately, as different wallets may have different seed phrases and recovery methods.

What happens to my crypto if I don’t plan?

Without planning, cryptocurrency in personal wallets is almost certainly lost permanently. Industry estimates suggest that a significant portion of all Bitcoin in circulation is already inaccessible due to lost keys. Exchange accounts may be recoverable through the exchange’s inheritance process, but this often requires extensive documentation. By recording your crypto assets now, you ensure nothing is overlooked.

How often should I update my crypto asset records?

Given the volatile nature of cryptocurrency, we recommend reviewing your crypto asset records at least monthly. Update estimated values, add new holdings, and remove positions you have closed. Orchard72 will notify you when records appear stale.