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Topic: How do you plan to pass on your bitcoin inhertance (Read 1628 times)

legendary
Activity: 1008
Merit: 1060
Lets face it HBB (hit by a bus) can happen any time

what is you mechanism or plan to inherent you BTC to your loved ones?

particularly if they are not IT literate.

In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.



If I die, my parents would probably think where did all the money that I have goes. After the funeral, at some point they would probably investigate my computer with my sister who knows how to use bitcoins. They simply have to find the notepad where I'm keeping my wallet's seed and that's it. My years of earnings are all theirs. It's not that hard to figure things out since I don't hide my notepad at all. It's just somewhere in our house where you can easily find it. You wouldn't think that one piece of paper is so actually so important to me. Good thing because no one's visiting me to our house so no one can find it except my family.

In simpler words, when I die, my sister knows what to do. No worries about how to pass on my bitcoins to my family.
legendary
Activity: 1792
Merit: 1283
I just share everything with my girlfriend, so she has access to my coins if something happens.
Same with all of my logins, it's very important to me that I have at least one such person in my life who I can trust for 100%
newbie
Activity: 50
Merit: 0
I don't know and I don't want to consider that anytime soon, you could always keep your private keys in a secure bank vault and giving the passphrase to a trusted family member to use if there is a need, Most people here are less than 50 though and not considering that point now.
hero member
Activity: 2590
Merit: 644
I will just make a paper wallet and transfer all of my bitcoins there and if my son is at least 18 yrs old, i will tell him about bitcoin and how to use it or redeem it then i will just trust him my paper wallet and i will tell him that just use those bitcoins if he really need money like in case of emergency but none of the less just hold it.
full member
Activity: 238
Merit: 100
we are all coming up with answers o providing a code and demo but i think, one owning many bitcoins should not be a secret to a faithful friend, being it a spouse, parents, children or colleague. This will ensure your hard earn serving gain the right use. Lets not keep this secret
legendary
Activity: 1848
Merit: 1000
Easiest way is to leave it as part of your will encrypted on a flash drive, leaving the password elsewhere in case of a dodgy lawyer Smiley  somewhere you know that your family will find it, or tell them where it will be.
legendary
Activity: 2450
Merit: 1047
Lets face it HBB (hit by a bus) can happen any time

what is you mechanism or plan to inherent you BTC to your loved ones?

particularly if they are not IT literate.

In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.



If you have 2 or more Bitcoin it is just right that you must prepare for any incident consequences that could happen to you,so you need to write a documents explaining to your heirs how Bitcoin works and how they can trade or convert your bitcoin to fiat money .
full member
Activity: 238
Merit: 100
I have planned everything with what I thought I would give bitcoin to my child, before that I will teach my children and friends who do not know about bitcoin.
hero member
Activity: 994
Merit: 544
I just past it now to my family but I put it in a box, in a box there is a letter and a list of all my bitcoin account so they can know how to get that amount or they can continue what I am doing.

Clever idea.  You may want also to include videos which may help your family to understand bitcoin.  Also, videos that contain how bitcoin was made and how to earn more through it.  Be sure to put it on separate boxes so that no one will be greedy to take or steal some inherited bitcoins of others to their wallet.
sr. member
Activity: 1988
Merit: 453
This is a very sensitive subject. Right now I am not much bothered about it, since my holdings are quite small. But in future, if my holdings get bigger in size, then I need to think about it. Perhaps I will transfer all my coins to a paper-wallet, and then take the printout of the private keys and keep them in some bank locker.
sr. member
Activity: 774
Merit: 250
Actually I dont have plan yet for this. Because I dont have much bitcoin in an online wallet. Though my love one already knows my details in my online wallet. He is aware already of my account, just of proper informing them of my account all.
hero member
Activity: 887
Merit: 516
Bitcoin OG
I will make a self video explaining about bitcoin and all my holdings. I will explain detailed accounts in the video and will write down all the account details like password and username. The private keys I will keep in safe which they can access easily. I think that would be easiest way to pass on my bitcoin or any fiat I'm holding. If anytime I get more than millions of holdings then I will mention that in my will as well.  Smiley

I like this answer, I just might use this idea. Thank you for sharing frowsiter.
hero member
Activity: 949
Merit: 517
I just past it now to my family but I put it in a box, in a box there is a letter and a list of all my bitcoin account so they can know how to get that amount or they can continue what I am doing.
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
I left a CLUE for my family in my Will to the location of my paper wallets. I also stored instructions on how to sweep paper wallets at the hidden location. I also trained one family member and a friend that I introduced to Bitcoin in the methods to sweep paper wallets, as a backup plan. So they just have to read the Will to find the clue and they will get to the location of my treasure. Let them work for it, they are getting it for free. ^smile^  
sr. member
Activity: 490
Merit: 250
I guess this is a good idea to ope up this topic even it looks and sounds fool but we need to be ready if this thing happen unexpectedly. So now I decided to put the details of my accounts in a sheet of paper like diaries or memo or notebook where they can find it easily and put all my accounts details, the numbers the passwords in my ATM, bank accounts and even in bitcoin so they can access it easily.
hero member
Activity: 2716
Merit: 904
These is a good question then on how to pass our bitcoin in case of emergency happen to who had it!
I think for now I share my account to my wife now then to be sure that my bitcoin earning will not go to loose.
hero member
Activity: 686
Merit: 510
Lets face it HBB (hit by a bus) can happen any time

what is you mechanism or plan to inherent you BTC to your loved ones?

particularly if they are not IT literate.

In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.


If my loved ones don't know how to use computer or inside of technology. I would pull out my bitcoin then  I will convert into fiat currency. I would input my money in the insurance company. We will benefit from doing that. It is not enough to teach one person in one click. We can help ourselves to do that. I am planning that and I hope I can do it soon if I have a lot of multi bitcoins in my wallet. What if my inheritance is just a kid? What he gonna do? He is a computer illiterate. He must be insured on your own decision.
full member
Activity: 224
Merit: 100
As I've already written in another thread, I'll divide the keys from my wallet in half for each of my children and hide it somewhere so they will have to go through a quest and join effort to get the money.
sr. member
Activity: 434
Merit: 250
Lets face it HBB (hit by a bus) can happen any time

what is you mechanism or plan to inherent you BTC to your loved ones?

particularly if they are not IT literate.

In my view A person could easily loose your coins in so many ways if you do not understand what you are doing.



At the moment, my younger brother is the only who has an idea about what bitcoins is, but he doesn't have any further knowledge about how profitable it is, But he can learn quickly, I will put all information to my wallet and investments in a safe and give the access to my lawyer, if he gets access to the safe he will know what to do.
sr. member
Activity: 434
Merit: 250
I am not having plan to keep any physical property or bank balance for inherent kids or grand children . Money is meant to live life.my earning is enough for my needs .so any bitcoin earning I will make sure to sell proper time
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