Aladdin Exchange Introduces the Inheritance Feature, a First for the Crypto World

Time:2022-01-16 Source: 1135 views Trending Copy share

As part of its commitment to ensuring total safety and security for all of its users’ assets, Dubai-based Aladdin Exchange has announced its new Inheritance Feature, in which users can transfer their crypto assets to their chosen beneficiaries in case of their absence.

The new feature, which is one of the first to be implemented in the world, was recently launched this January. The exchange will allow users to choose up to three (3) persons who will inherit their crypto assets in the event of the original owner’s untimely passing.

All Aladdin Exchange users can avail of this feature through the website. Users who successfully verified their accounts up to Level 4 (KYC Verification) can readily take advantage of the new update. Otherwise, the user must complete the mentioned requirements.

At the ‘My Page’ section, the user can click ‘Add Beneficiaries’ and specify the name, contact number, and email address of each beneficiary. All information must be accurate to prevent any issues in the future.

Aladdin Exchange will facilitate the transfer of the crypto assets to the beneficiaries on behalf of the deceased. This transfer will undergo a standard process through proper consultation with a legal attorney and with full compliance to applicable laws. Furthermore, the exchange will require beneficiaries to present a valid death certificate to receive the assets.

The exchange explained the need for the feature, especially since the cryptocurrency industry is already gaining traction among investors who previously dabbled with stocks and traditional assets only. Moreover, as the platform saw a growing demand for users to secure their crypto assets, Aladdin Exchange introduced this groundbreaking Inheritance Feature.

The Inheritance Feature is only one of the many upgrades and additional services that Aladdin Exchange will roll out this year. Specifically, the exchange will also have more crypto listings to provide users with additional trading options.

by Bitcoinist

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