Bitcoin has crashed but could still give you a huge inheritance tax bill

If you inherited a cryptocurrency such as Bitcoin, Cardano or Ethereum, would you have the faintest idea what to do with it? More and more people are owners of digital assets, but few have given thought to how they will be passed from one generation to the next.

Digital currencies in particular can be a huge source of stress for bereaved families sorting out a relative’s affairs.

Firstly, they can be incredibly volatile. In January 2017, the Bitcoin craze began as interest in cryptocurrencies soared. At that time one Bitcoin was worth about £740, before rocketing to almost £15,000 a year later. Its price has since plummeted to less than £3,000.

Virtually none of the new currencies was able to…

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