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Is your spouse hiding digital assets?

On Behalf of | Oct 8, 2022 | Property Division |

Have you ever heard of cryptocurrency or non-fungible tokens (NFT)? These are both forms of digital investments that’s grown over the years. Many people invested in cryptocurrency and NFTs early on and now they’re reaping the rewards.

Even though cryptocurrency and NFTs are digital, they’re likely included in your marital assets, but that doesn’t mean your spouse is willing to reveal their profits. Here’s what you should know:

What are NFTs and cryptocurrency? 

Bitcoin or cryptocurrency closely resembles a dollar – in other words, it can be used to purchase goods and services or traded to other monetary values or coins, however, unlike the dollar, the price of one bitcoin fluctuates. What this means is that any investments over the year have likely appreciated.

Non-fungible tokens, in comparison, are much more like a work of art – there’s only one of its kind. NFTs can be sold, much like a painting, but can’t be traded, like bitcoin.

How do you find your spouse’s cryptocoin or NFTs?

Now that you have a general idea about how bitcoin and NFTs work, how do you find them? Crypto and NFTs often have unique codes that prevent others from stealing the data. That doesn’t mean it’s impossible to find, especially if you have access to bank statements.

If your spouse invested in bitcoin or NFTs, you’ll likely have some kind of purchase history. While this may reveal just how much your spouse owns, it may give you an idea if they have any hidden assets that need to be included in the marital asset division.