DIFX Innovations: The Nomination Program
As an innovative asset class, cryptocurrencies bring unique opportunities to the table while raising new challenges. With cryptocurrencies making their way into the lives of a fast-growing number of families and investors, the importance of Digital Wealth Management has become more important than ever.
The right wealth management solution will help you to plan ahead for the future of your digital assets. This is especially valuable for cryptocurrencies as they use a unique way to secure your funds; It’s imperative to have a proper plan in place for unfortunate events, because if you don’t, your crypto assets may be lost forever.
A 2017 report from Chainalysis, a blockchain data platform, estimates that 2.78 to 3.79 million bitcoins are lost forever. According to a more recent report from Glassnode, a blockchain data and intelligence provider, more than 7 million bitcoins are either lost or hodled by long-term investors, which is almost 34% of the total supply.
The need for a proper crypto management solution is reflected in users’ sentiment as well, as 89% of cryptocurrency investors are worried about the future of their assets after their passing.
What’s the solution?
A will may be considered the easiest way to manage assets in the event of a death or emergency, but things tend to get more complicated with cryptocurrencies. The will needs to be updated frequently to contain an up-to-date list of crypto assets along with their private keys. This means that a trader may have to go through all this work on a daily basis!
Age is another important factor that we should consider as well. According to the Cremation Institute, “Millennials are 5 times more likely not to plan than Baby Boomers”, while only 41% of Generation Z may have some sort of plan in place. It makes sense as the older we get, the more we think about death and what will become of our hard-earned assets.
Therefore, considering that most crypto holders are from younger generations, it seems like we should look for an alternative to a will, something that is specially designed for the unique features of cryptocurrencies.
DIFX Nomination Program
In an effort to solve current problems, we have launched our Nomination Program to help our users pass on their crypto assets to their families and loved ones. The program is quite straightforward. Here’s what you have to do:
- Select up to 5 individuals as your beneficiaries
- Allocate the desired percentage of funds to each nominee
- Wait for the nominees to accept your request and complete their verification process
- That’s it! Your official beneficiaries are set.
It’s worth mentioning that the nominees will not be informed about the percentage of the allocated funds. When the inevitable happens, the nominated individuals will have to follow the set procedure and upload the necessary documentation.
As the crypto market grows in size and popularity every year, the DIFX Nomination Program may be just the right answer for the future of crypto management. For once, you don’t have to worry about the uncertain future and can enjoy a secure option to plan for the future of your assets.
DIFX is a CEX that uses blockchain technology to incorporate centralized finance. It is an easy-to-use platform for both new and experienced traders, establishments, and investors. As covered by Cointelegraph, BeInCrypto, and many other media outlets, DIFX allows users to nominate anyone from their family, friends, or loved ones and allows them to legitimize their claim upon the primary user’s demise.
Additionally, the company hopes to increase the use of digital currencies for direct settlement between beneficiary and payer by eliminating intermediaries. To begin your journey with Endless Possibilities, download the app now from the iOS or Google Play Store, or visit us at difx.com.