Topic: How to protect your crypto before death? (Read 767 times)

Thanks for the advise, mate. A paper wallet with an encrypted private key protected by a strong passphrase seems to be a quick and effective solution for protecting one's crypto funds against death. A simple set of instructions with how to access my utmost important crypto funds, will do the trick. Storing it in a bank is a great idea, but making a copy of the paper wallet in a data storage medium (like a flash drive) is nice too. Small flash drives like the SanDisk Cruzer Ultra-Fit are the size of a finger nail (almost), which is great for hiding it in a place no one else would imagine (except your beloved ones).

I've been looking into something called "Cryptosteel" which claims to be waterproof, shockproof, and even fireproof. This could be the ideal solution for protecting one's crypto funds even in the most drastic conditions ever imagined. It's a little expensive though, but worth every penny if it performs exactly as described. This would go great in a safe deposit box at a Bank, than a paper wallet itself. We all know that paper tends to deteriorate over time. Since the "Cryptosteel" is made out of metal, I'm sure that it'll last a lifetime!

All in all, I appreciate all of your input guys. Every suggestion/recommendation has been quite helpful in allowing me to protect my crypto assets against death. A well though-out plan will ensure that my hard-earned money made via crypto will not be lost even after death. So far, I've determined to use multi-sig wallets and the "Cryptosteel" to fulfil said purpose. Hopefully, it'll go into the right hands after my demise.

We all know that death is inevitable and everyone is bound to die sooner or later. For the protection of your crypto assets and to help your families financially after your death, you shall write down a paper including all essential data regarding your crypto currencies and wallets so that your beloveds can inherit it from you.

I just think I can't take all of my asset including crypto to my graveyard . And if I can know when and how my death's coming, I will donate all of my asset to the poor and my family before that time come. Or in another way I will teach my wife from now how to liquid my asset to FIAT so they can use all of them for their need. Btw Dying without give a benefit to the others is a big losses. That's how I'm thinking. 😁

I think that very soon people will come up with some kind of smart contract that will allow them to transfer their assets by inheritance. for example, it will be possible to give part of the key to someone from relatives, but while you are alive they do not have access to assets

protect your cryptoqurrency assets before death comes? yes I think this is important for us fans of crypto, especially those who have large amounts of crypto assets, need to reconsider writing a piece of paper or a will before death comes to pick you up. I have done this and trusted all my data and assets with my brother.

In terms of protecting crypto, actually there are lots of threats in making your job/business here, so you should not think about only when you die but also think of the present situation in which your money can be lost in just a simple mistake, because as of now a lot of scammers are taking advantage of people and they do not have the heart to really care about you because they only want your money. So I recommend that you should be aware of your every transaction so that your money is secured and there are no chances that your money will get. You should protect also the important data you are using like private keys in your wallet also the accounts you are using, you should have one folder in your device that stores all of that data, and you should put a password there. In a problem that when you die, you should have given the important data or create a folder that will tell your family that only open that folder when you die and use the money for themselves.

I think this is the easiest and best way, if you trust your wife, your family, if you live together take it off, then why don’t you train them, or at least your wife, how to access your account, your wallets, how to use them how to withdraw funds, and so on. If you do not want to transfer knowledge while everything is all right with you, you can teach this to your trusted friend, who will subsequently pass everything on to your loved ones. If you do not have such a friend, then write a will with instructions and give it to a notary public who in the future, in the event of your death, will transfer everything to your loved ones.

I think, you have to first teach your relatives / family / spouse to understand that you can at least access your account correctly.

That should not even be a matter of concern right now, the way that you will guard the document of your house from going to the hand of a wrong person who could claim it is the same way that you should guard your cryptocurrency investment.

My advice to you is that you should try and store your coins in a wallet that you can have a very strong password and private key to which I think you can have in a paper wallet, and document it with your bank in which they will be able to open a bank safe for you to store them, but then, you have to also ensure that the bank is not one that will wound up in the future too. You should also back it up too and have a copy of it in a flash where you can store in a hidden place that will be stated on one of your email with highly secured password that will be known by your wife or your children.

If your relatives understand what cryptocurrency is and why it is needed, then I do not think that they can have problems with obtaining funds, if suddenly something happens to you. And there are really quite a lot of ways to leave information about access to wallets.

The most important thing is to teach your family members how to use crypto wallets. Or you can leave instructions on how to use them with all the keys. So I don't think it's a problem.

It's quite easy actually, you can add it in your will with the neccessary details stored in a safe location and that location would be added to your will, I know it's easier said than done but if you think it through and execute it well, your crypto wouldn't have to go to waste because it would work well in the end.

I actually just made a post about this about 3 hours before you posted this question. You can check it out here.

Basically, if you want to look into using a blockchain service, I recommend checking out [/url=https://t.me/safehavenio]Safe Haven.[/url] They are close to releasing the BETA version of their Safe Haven Inheritance Platform (SHIP) which may be out by the end of this year. Basically, their platform allows you to interact with legal entities and make your crypto inheritable to your beneficiaries.

DISCLAIMER: I'm invested in Safe Haven and it is mainly because they are the first to explore this issue and create a solution for it.

I think one of the most effective way on how you can protect your crypto before death is through back up plans. If ever you have a significant other at the present, it would be best if you are going to lend them your wallet so that if ever something unfortunate happened, you know your investment wouldn't go to waste. Another way is through having a linked account of a certain family member who are involved in crypto so that if ever you die, they Mo KOcan put it in your heart and I will reck that person's  life.

That would be simple enough for other family members to get ahold of your crypto balances. While a paper with written instructions might be all you need to secure your crypto against death, it's still prone to wear and tear over time. Something solid and durable like a metal wallet (perhaps CryptoSteel?) might do the trick as it could withstand even the most harsh conditions in the environment. All of this could be easily stored in your own "safe box" or a "safe deposit box" from a bank. With clear and precise instructions on how to recover one's crypto balances, there should be nothing to worry about.



Interesting. I've never thought this would be largely possible with crypto transactions. The real deal would be on how to properly make use of the "nlocktime" feature to release funds by a certain date. For non-tech savvy users, this may seem like a headache. But it's a piece of cake for experienced crypto users. I wonder if this would also be possible in Ethereum via the use of smart contracts?

Anyways, I think that I'd go for a multi-sig account since it's much easier to set up. I'd just create keypairs for each of my family members so that only 2 out of 5 keys would unlock it. For added security, I could increase the number of keys required for accessing my crypto funds. But I'd like to make the process easy for even the non-tech savvy members of my family. As long as a plan is established to protect one's crypto funds against any undesired situation, you could rest assured that your hard-earned money will survive for a long time.

Besides parents, in my opinion, people who can be trusted are our close friends who really understand about cryptocurrency. we make sure that he will be trustworthy to be able to keep what we give when something bad happens to us because we do not want to be wrong in the selection of people and the misuse of our funds

Death is something that must be accepted by anyone in this world. Unlike other assets, crypto provides privacy and security for its users without anyone knowing. As users and holders of crypto, we certainly will not tell anyone our safe keys, but at least we only need to tell our wives and children if we have enough crypto assets. If the amount is small, forget it and maybe it doesn't meet their needs.
Giving them a password is the most sensible thing, but never say how much wealth you have stored there because it will kill you and enjoy your wealth.

All of us in this temporary world will die, but first and foremost before that time comes for anyone of us, our loved ones should be entrusted with all you have. If you have illness which cannot be treated and you think you're a dying man, that would be secured giving the entire confidential information to your wife or any members of the family who can be trusted to manage your crypto savings.

Introduction of them must be done. of course we do not want that our assets are not known by our families. very high risk so it's true our families should know what we have so they can also control about these assets.and if something happens like op says they also know what they are doing without the help of others

A good question, we should think about that so that our asset won't gone into the air.
I would save my wallets credentials on my drive, and store it with password,
and tell the password to my family so they can access it in the future.