Topic: Do you share with your friends and relatives about your crypto holdings? Beware! (Read 112 times)

I think this potential problem can be qualified if you share your crypto holdings with the people you trust completely even with your life. This includes your wife, your family, and your loved ones since you are adding an extra layer of security by letting them know about your cryptocurrencies.

While safety is generally an issue when it comes to this aspect, it is better that somebody knows that you have BTC instead of letting it HODL by itself. Assuming that something happens to you, no one can recover or let alone retrieve your respective BTCs if you are unexpectedly gone.

There's no point sharing the amount of crypto that you're holding even if that is your friend and your relatives, except the one who you trust most, for example, your partner in life or your parents.  I'd rather keep it private for the seek of privacy because we know every valuable stuff is very hot for greedy people.

I tend to agree with all of these, teach them if they wanted to seek information regarding Bitcoin but don't show to them your entire balance.

It is important for each crypto hodler to do what's best for them, if they think they have trusted people they can talk to about their Bitcoin hodlings, let them go ahead, but it is pretty bad to tell too many people, or everyone as this thread warns, a secret told to too many people is no longer a secret.

Having said that, for individuals who have quite a lot of Bitcoins and hope that their children and spouse is going to inherit it someday should something happen to them, i think it is important to teach your family quite a lot about Bitcoin, you might be secretly planning for them to inherit it and you also might not want them to know you have too many Bitcoins, thus what you must do is to teach them enough about Bitcoin and the network without talking much about your secret hodlings, so if they eventually inherit it and you are no longer around, they would be smart and knowledgeable in using it, and would not lose it to scammers for lack of knowledge.

The only good reason to announce to your family that you hold Bitcoin is if you want to include them in your will. But even then it's possible to establish a will without informing them. 


It's just one of the many things that can happen. You can also become a victim of physical attack. Or your friends/relatives could ultimately be the ones to steal from you. Or someone will start constantly begging you for money.

I just don't see any benefits to talking about your coins. Sure, bragging feels good for 1 minute, but then you will regret it for a very long time.

To some extent it really doesn't matter much, there is some information you can and can't disclose about your crypto. Everyone will share some information (intentionally or not) eventually, especially if you wish crypto was implemented in the businesses around you or even your own.

When it comes to money, no one is so good after all, OP you are speaking fact, many things have happened in my state all because of money, within families and even among friends, I now find it harder to trust anyone, if you have someone you trust and share almost everything with that's a big weak point, just hope and pray that this person is a very good person to the extent that money can't brainwash them.

It is easier for people to sell their trust for money, due to greed or poverty, and most of these stories that I am not ready ro share here are been carried out by the most trusted personnel, those who used to say that it is always someone on the inside that knows you to the core can be capable of doing evil to you, simply because they know you too well.

Let's be careful with who we shared our successful stories, even if they are your families by blood, keep the success part to yourself.

There is nothing that destroys family and friendship the most like the way money does. Even if we trust someone enough with everything other things there are level to which the person will know about your wealth, holdings and earning, jealousy will come in, after jealousy then come little inner hatred which usually led to attack, either physical stealing attack or someway which they can just use to move the users funds. When it comes to this aspect I strongly recommend everyone to remain secretive about there holdings.

That being said, when we also want to talk about security insurance. To some point I do recommend one sharing few pieces of information regarding how and where they are holding down some crypto, people who these kind of information can most likely be recommended to share with are holders child, or the spouse, you the holder will determined who has a lesser greed and can be patient enough, to play a blind eye until when it's necessary for such funds to be accessed.

Situations of security breach that I have experienced are mostly with girlfriends against boyfriends, friends, and brothers. Some cryptocurrency holders fall victim to security breach because of the kind of information they disclose to their friends, brothers, or girlfriends. Is not a bad idea to tell people what you are doing but giving them every sensitive details about you own asset is not wise.

In a movie I watched, a rich guy told his brother about all the assets he has and how wealthy he is, and his brother, with so much pride, told his friends that his brother is so wealthy and can give him anything he desires.

His friends became jealous and gradually made plans to attack the rich; they stole from him until he went bankrupt. So the issue there was that this rich guy told his brother about all his wealth, and his prideful brother told his own friends about his rich brother, which caused an attack on the rich guy.

Another incident I have experienced is the situation where a guy always tells his girlfriend about all his crypto assets and gives the girl access to all his wallet information. One day, both of them had a disagreement, and before the boy could realize it, his girlfriend had disappeared with all his crypto assets.

In my opinion, crypto is a private asset that only you should know about. You can keep track of how your brothers, sisters, or children can access the asset should anything bad happen, so it is not wise to share your cryptocurrency private information with a third party.

Reading the top posts, we can assume that solid millionaires are sitting here, well, or future ones. So much mystery, all your activities are immersed in mystery. A little funny, folks.
There is nothing wrong with friends, if, of course, you have them, and there is nothing wrong if your loved ones know what you are doing. Seriously, if you don't trust your relatives, why the hell do you need them then? It is not necessary to tell where and how much you have in cryptocurrency, you do not need to show your seed phrase, but to completely keep secrecy, in my opinion, this is paranoia.
I am sure that the same people who unsubscribed above will also support the idea of ​​spreading information about Bitcoin. But tell me, how can you be trusted if people don't know what you do?

I share only the information about bitcoin but not the amount I hold because to many risk we can get about exposing this and might we can get more unwanted message which can destroy a relationship especially when money is involve on discussion.

I better stay silent about balances but if they talk about crypto well I can give them some basic or generic answer which is also important if they want to learn about it.

If you can't share your bank ATM card password with anyone or your mobile transaction pin with a third party, then it's not making sense sharing your details with others regardless of how they are to you about your bitcoin asset access, we need to be very careful because if we don't create any vulnerability, there's no how we can experience any attack and as for those using centralized exchanges to take heed and change to decentralized one for more privacy and security.

We actually live in a world where it is hard to trust anyone most especially with sensitive informations like our crypto holdings but crypto holdings aren’t just like keeping information about something but it is about finance. Many people use cryptocurrency as the primary source of storing their future wealth or retirement funds and we all know these are saved for the use cases of the family and should their be a natural occurrence like death and this holdings were actually kept secretive by you then everything could be lost forever and that puts your family in a financial bind. So I think no matter how bad everyone might seem there’s certainly just that one person that has to be trusted. Being a Kin or just anybody. This person could be entrusted with something like a private key or seed phrase for recovery.

The only thing bad is when you go around boasting of how much you have as your holdings because this could trigger just a member of your family and friends to dig into your account.

Being talkative about what we are doing is like we are making noise and tell everyone around us about all secret we have. In fact we should keep secret as secret especially things related to money.

Even 2FA can be stolen.

We don't know when a good person turns to be a bad one. Maybe they are not bad but when life is hard, they have to make a tough choice from which we don't know what they choose to do.

They can make their tough choice become easily by stealing money from someone trust them a lot. It is when nightmare comes with talkative people about their successful investment and big portfolio.

Their money can be stolen but it is not the worst. They can be killed by bad people too.

It's true that it's never advisable to share both phrases and private information with loved ones because of the above-listed danger, because the person with whom you share your information will be the first suspect when you are attacked. 

But in the other way, we have also discussed about the danger of online keeping such information within our self, without even sharing it with 1 of our love ones, their no one praying for bad thing to happen but if such come into the picture all ones saving, investment etc is gone.  That's why, for me I will always be on the side that shares even a few of my wallet's security with a trustee, either my spouse or my twin brother, whom I know if anything is to happen today and an emergency is needed, they can easily reach out to any of them and an attempt at recovery will be made from them. 

You've been warned that sharing about your crypto holdings to your friends or even family may put your investments in danger. There have been cases where those people who shared about their current crypto holdings or positions became victims of possible hacks of either their PCs/laptops or their accounts too where no 2FA was enabled. Even if your friends/relatives are so good, it is said that even walls have eyes and ears. So it's better that you share such things very carefully so that your left hand doesn't know what your right one did. TBH, I'd never suggest to share about your crypto holdings at all because it's all about your privacy and if you open it up voluntarily, then what's the point of using crypto?