Topic: Did you share your key to your family? (Read 733 times)
For safety purposes it is not advisable to share seed phrase to anyone. If the seed phrase is exposed it is very easy to take all coins from portfolio, if it is successful taking it is gone forever nothing can be done about it. If anyone decides to keep private keys private it is not, the person have their reasons.
Your question is a very critical and crucial one indeed, it is a question that no one should neglect because death is inevitable and can happen at anytime.
What I did is that I saved my keys with my trustworthy sibling who isn't interested I'm crypto and knows nothing about it. I told her not to disclose it to anyone under any circumstances.
Then I told my friend who in into crypto about what I have done, so that if I am no more, my friend can help my sibling to claim all my coins.
That is the best possible idea that occurred to me and I did it.
What I did is that I saved my keys with my trustworthy sibling who isn't interested I'm crypto and knows nothing about it. I told her not to disclose it to anyone under any circumstances.
Then I told my friend who in into crypto about what I have done, so that if I am no more, my friend can help my sibling to claim all my coins.
That is the best possible idea that occurred to me and I did it.
If you trust people, it seems like an appropriate strategy. Whereas one has the key and the other has the knowledge to use it.
Now, it is convenient that your brother also trusts this person, so that he can act in the appropriate way if necessary.
Your question is a very critical and crucial one indeed, it is a question that no one should neglect because death is inevitable and can happen at anytime.
What I did is that I saved my keys with my trustworthy sibling who isn't interested I'm crypto and knows nothing about it. I told her not to disclose it to anyone under any circumstances.
Then I told my friend who in into crypto about what I have done, so that if I am no more, my friend can help my sibling to claim all my coins.
That is the best possible idea that occurred to me and I did it.
What I did is that I saved my keys with my trustworthy sibling who isn't interested I'm crypto and knows nothing about it. I told her not to disclose it to anyone under any circumstances.
Then I told my friend who in into crypto about what I have done, so that if I am no more, my friend can help my sibling to claim all my coins.
That is the best possible idea that occurred to me and I did it.
Sometimes it's enough to leave enlightening information, in a place where we know that our family/friends will look when they are packing up after a very serious accident.
If your family is not into crypto and Bitcoin and doesn't understand what a recovery phrase is, they need to be made aware of the importance and dangers of a recovery phrase. You wouldn't want your child or wife make a photo of the seed and place it on Facebook asking their friends does anyone know what this is!?Sure! You are absolutely right. It's always good to let me know in advance how things basically work.
Now, along with that saved information, you can add additional information with instructions on what to do with that data.
In addition, you must have a wallet with Bitcoin, in which you will not need to use the key to access, just use the password you defined to access. Unless the equipment holding the wallet was destroyed in the accident, or if it is a paper wallet.
Sharing your key is not a bad idea, so long the person you are sharing it with understands the concept of Cryptocurrency and that person should be a person you can trust at all time.
Sometimes it's enough to leave enlightening information, in a place where we know that our family/friends will look when they are packing up after a very serious accident.
If your family is not into crypto and Bitcoin and doesn't understand what a recovery phrase is, they need to be made aware of the importance and dangers of a recovery phrase. You wouldn't want your child or wife make a photo of the seed and place it on Facebook asking their friends does anyone know what this is!?But I have written in my dairy and Clouds for backup and also if any time my family needs my money or crypto and if I’m not able this time so for those time, I have write some instructions to know my family I have crypto and how to they access my account and they receive my crypto.
What do you think is it good?
It depends. If all the information is written in your diary, are you sure they will find it? Do they know that they should be looking for the keys somewhere in the diary? If not, they might never read it because it's a rather personal thing. What do you think is it good?
It is not a question if we share keys with our family, any member of the family but the question if they know how to access this? Sharing keys isn't enough, we need to educate them and teach them how to access, and do withdrawals if needed.
As to my insights on the benefits of educating them, we are boosted their trust in crypto. Exposure is something that could help them to familiarize Crypto and to know the importance of its existence. It somehow gives them an idea of how it works and the risks of losing the keys to the other hands.
As to my insights on the benefits of educating them, we are boosted their trust in crypto. Exposure is something that could help them to familiarize Crypto and to know the importance of its existence. It somehow gives them an idea of how it works and the risks of losing the keys to the other hands.
Personally I don’t share yet my keys with my family because now I think it’s not needed. But I have written in my dairy and Clouds for backup and also if any time my family needs my money or crypto and if I’m not able this time so for those time, I have write some instructions to know my family I have crypto and how to they access my account and they receive my crypto.
What do you think is it good?
What do you think is it good?
My family knows where to find my recovery phrases and other pieces of information to recover all my coins, but they don't have a copy of anything in their hands. There is no reason for them to have copies of the seeds for cold storage. They know what they have to do and where to look for the essentials for recovery if one day I don't come back home. That's it. My family isn't interested in Bitcoin, only I am. I am sure they will gladly convert in into fiat one day when I am gone.
Thank Y'all for sharing your different ways and opinion. Truly we have different family background and different culture that's why we couldn't agree some of other's opinion. But As a young man and unmarried person, I think this reply is the best way that I can follow as I have no sons or daughters yet lol.
I will only share copies of my keys to my children someday and it's up to them how they will handle their money.
Sometimes it's enough to leave enlightening information, in a place where we know that our family/friends will look when they are packing up after a very serious accident.
Now it all comes down to the trust we have and who we have. I believe that everyone has someone, familiar or not, that they can really trust.
My family knows where to find my recovery phrases and other pieces of information to recover all my coins, but they don't have a copy of anything in their hands. There is no reason for them to have copies of the seeds for cold storage. They know what they have to do and where to look for the essentials for recovery if one day I don't come back home. That's it. My family isn't interested in Bitcoin, only I am. I am sure they will gladly convert in into fiat one day when I am gone.
Thank Y'all for sharing your different ways and opinion. Truly we have different family background and different culture that's why we couldn't agree some of other's opinion. But As a young man and unmarried person, I think this reply is the best way that I can follow as I have no sons or daughters yet lol.
I will only share copies of my keys to my children someday and it's up to them how they will handle their money.
To be honest, trust is one issue that is very strong, and greed is still one of the aspect of human that still very much exist. Giving or sharing to someone your private keys, is a big aspect of trust and finding someone that would still overcome greed and uphold the trust is a blessing, but I believe we all should have that person or even persons.
We have seen lots of Crypto coin lost just because the owners didn't have a way of passing down there Crypto asset to anyone, and that's becoming a thing we should not have in Crypto.
Scarcity raises the value of a coin in any case, so losing a coin to the air will only benefit the hodlers, so if the greedy ones do not want to share their assets and prefer to die, it is fine if anyone chooses to gamble with it. We have seen lots of Crypto coin lost just because the owners didn't have a way of passing down there Crypto asset to anyone, and that's becoming a thing we should not have in Crypto.
To be honest, trust is one issue that is very strong, and greed is still one of the aspect of human that still very much exist. Giving or sharing to someone your private keys, is a big aspect of trust and finding someone that would still overcome greed and uphold the trust is a blessing, but I believe we all should have that person or even persons.
We have seen lots of Crypto coin lost just because the owners didn't have a way of passing down there Crypto asset to anyone, and that's becoming a thing we should not have in Crypto.
We have seen lots of Crypto coin lost just because the owners didn't have a way of passing down there Crypto asset to anyone, and that's becoming a thing we should not have in Crypto.
Now you make me think this situation as well.
I am still not married, but currently in a relationship and I am wondering if I should share the keys to my future family whenever I get old.
It wouldn't hurt to at least educate them about a thing or two about cryptos, but just won't mention that I am indeed holding one.
I am still not married, but currently in a relationship and I am wondering if I should share the keys to my future family whenever I get old.
It wouldn't hurt to at least educate them about a thing or two about cryptos, but just won't mention that I am indeed holding one.
Do not make this mistake; do not trust a girl who is yet to be your wife with your valuable assets; it is risky. Women should not be trusted with monetary assets until she is your wife; only then can you be sure she will not disappoint you or run away with your money. Unmarried folks should always educate someone trustworthy in their family and divide the seed phrase among them; it's safer that way.
Well, sincerely, I haven't shared anything relating to my crypto investments to any of my family members, I am married with two kids but they are still very little, my first daughter is a little above 5 years old and her sister is just 4 months old.
If you care about your children's future, you would name your wife as next of kin, educate her, and give her a copy of your seed phrase everyone believes he will live until his health fails.
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Now you make me think this situation as well.I am still not married, but currently in a relationship and I am wondering if I should share the keys to my future family whenever I get old.
It wouldn't hurt to at least educate them about a thing or two about cryptos, but just won't mention that I am indeed holding one.
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Well, sincerely, I haven't shared anything relating to my crypto investments to any of my family members, I am married with two kids but they are still very little, my first daughter is a little above 5 years old and her sister is just 4 months old.
I've always thought about this and each time it comes to my mind, it's leaves me in a kind of fear state, I never want to share my cryptocurrency investments details with my wife cus I don't want her snooping on my investments, I have no brothers, my only sister is married and has her own family, my both parents are late, so I've always thought to wait until my first daughter get to the age that she can easily understand when I teach her, so all I can do is pray for life, am still young, though it's true that death knows no young nor old, it takes who ever it wants to take when ever it comes, but I have faith that I will live till a good old age by the grace of God, so I will just keep hustling.
I've always thought about this and each time it comes to my mind, it's leaves me in a kind of fear state, I never want to share my cryptocurrency investments details with my wife cus I don't want her snooping on my investments, I have no brothers, my only sister is married and has her own family, my both parents are late, so I've always thought to wait until my first daughter get to the age that she can easily understand when I teach her, so all I can do is pray for life, am still young, though it's true that death knows no young nor old, it takes who ever it wants to take when ever it comes, but I have faith that I will live till a good old age by the grace of God, so I will just keep hustling.
Sure, all this time I worked in crypto my wife knew. Even though there is no plan, all the keys have been kept and I wrote. Although he doesn't know yet but I talked to him, everything related to crypto assets is in that book. Of course, even though he hadn't seen it directly he already knew. This is one of my ways to keep up when one day I stop breathing suddenly. At least it will be useful for my descendants and my loved ones. Because I believe in my wife.
One piece of advice every crypto user should consider so far is to consider inheriting your wallet or private key to someone you really trust. This is very important even though we don't have many assets in it.Just like you, I'm also willing to do it and compromise with my wife about wallet storage and access to exchange even though she can't operate them yet. I've written it well and kept it safe, and I really trust it so far.
You should have someone who can be the most trusted person. Why don't you tell him as soon as possible if you will share it with him then?
~snip~
Sure, all this time I worked in crypto my wife knew. Even though there is no plan, all the keys have been kept and I wrote. Although he doesn't know yet but I talked to him, everything related to crypto assets is in that book. Of course, even though he hadn't seen it directly he already knew. This is one of my ways to keep up when one day I stop breathing suddenly. At least it will be useful for my descendants and my loved ones. Because I believe in my wife. ~snip~
yes of course I will share it as my inheritance, of course my assets in crypto will be withdrawn by my family. maybe my simple tips are like writing phrasa into a book and giving an explanation there and I keep it in the cupboard.
There is not a lot of money in my wallet yet to share the key lol. However, I think it is important to give details about your crypto investment to a trustworthy member of your family. So if you are not around, your family can use the money when they need it.
I don't have any trusted Family member I have shared my keys to ,but what I have done is that I have a Note book where I stated everything regarding my keys and investment and have it put in a fireproof save , then let my trusted family member know everything about it in case of any unexpected incident that could happen to life.
You should have someone who can be the most trusted person. Why don't you tell him as soon as possible if you will share it with him then? We don't know when an unexpected thing to happen, it can happen today or tomorrow. So that's why it is necessary to let our most trusted person know our wallet data very soon. In my case, I've shared my private keys or passwords or keyphrases with the person I trusted most in my life. Whenever an unexpected thing happens, I've taken a preventive way to anticipate it. Then, everything in my wallets can be used by the right person and it won't be stuck forever there.Jump to: