Topic: How to protect your crypto before death? - page 3. (Read 773 times)
Things need to be done fairly easily, you only need to choose the people you trust to hold your personal key assets. From your family or your best friends. so that later if you are not in this world anyone will continue your crypto assets. It is a testament to crypto assets, it might be useful for other things if you are not there.
Just make sure to tell you family or someone you fully trusted about your accounts and password. It's okay to be prepared cause we never know when will our time comes. Also make sure they know what is crypto and how it works. Save everything in your pc so they could just open it. They have the access incase something bad happens.
I have prepared this. I have taught my partner how to open a wallet and exchange. and I also told you where I keep the key. but I want to not only leave crypto heritage. I also want to leave a business that later when I die they can continue my business. therefore I always set aside profits from crypto to open a business. so that later my family will inherit two things, cryptocurrency and business.
For the security of my cryptocurrency invest I share my private key and password to my wife because that investment is future of my child ao nibody can know where our lifes goes? So much better to share all private from my trusted person.
Wives or families really need to know about our assets that are in cryptocurrency or other assets that they do not know because however if something happens to us they can use these assets as costs or for their needs when the worst happens. so our assets will also be useful not only to be settled in the walletFirst and foremost, your family must know that you are involved in the world of cryptocurrency if you can, you also invite them to join you, and you must be open with your closest family and you can say that you have saved your bitcoin wallet later somewhere it's safe for you.
Lots of people die leaving huge amount of money in their wallets and a friend of mine passed on last four months with the same experience. For his case, we were able to go through his details on his PC to retrieve the Private Keys to his wallet. It is always good to have someone in the family who know you're into crypto. Later, it is good to tell the trusted family member where you have stored the Flash drives which contains the login details to the wallet. 
If at some point in time I come across death, how would I actually preserve my crypto for other family members to enjoy? I mean, this should be a concern to every crypto enthusiast since all the money they've earned over time could easily be lost without the ability to be recovered by someone else. The decentralized nature of crypto, leaves us responsible of protecting our own funds no matter what.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
I think there are currently two simplest options:Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
- You can entrust a family member with copies of the private keys and passwords they can use to access the e-wallet in case you die, but such a scenario requires ask for absolute trust.
- Or you send a copy of your private keys and password into a safe deposit vault at the bank, when you die your loved one can get that information.
For the security of my cryptocurrency invest I share my private key and password to my wife because that investment is future of my child ao nibody can know where our lifes goes? So much better to share all private from my trusted person.
Wives or families really need to know about our assets that are in cryptocurrency or other assets that they do not know because however if something happens to us they can use these assets as costs or for their needs when the worst happens. so our assets will also be useful not only to be settled in the wallet You could use a dead man's switch. There are several out there, and there is also Google's Inactive Account manager. If your gmail account has not been accessed in 3 months, you can set it to send an email to your family.
But emails can be read, so you might want to use encryption like PGP / GPG. You'll have to teach them how to use it and provide you with their public key so you can encrypt the message to them.
The message itself could just be a password or passphrase to an encrypted file stored on a USB drive you keep updated frequently with your private keys.
As long as you're alive, you can prevent the email from being sent.
Now, if you know your family can't learn or be taught how to use crypto or bitcoins, then you might have to ask a trusted third party to help you here, someone like an escrow who will take care of exchanging your coins to fiat for them and sending them the funds. You'd trust this third party or else your family would never get anything. In return you have a contract that will also pay this third party a small portion, since otherwise the coins would have been lost anyway.
But emails can be read, so you might want to use encryption like PGP / GPG. You'll have to teach them how to use it and provide you with their public key so you can encrypt the message to them.
The message itself could just be a password or passphrase to an encrypted file stored on a USB drive you keep updated frequently with your private keys.
As long as you're alive, you can prevent the email from being sent.
Now, if you know your family can't learn or be taught how to use crypto or bitcoins, then you might have to ask a trusted third party to help you here, someone like an escrow who will take care of exchanging your coins to fiat for them and sending them the funds. You'd trust this third party or else your family would never get anything. In return you have a contract that will also pay this third party a small portion, since otherwise the coins would have been lost anyway.
That's a splendid recommendation. Looks like I needed to learn that about Google. Me too have the same case, wondering if ever this occurred to me. My family is also not a techie type of people, and seems not interested, but who knows might happened right?
Do you have any suggestion or trusted third party for doing this kind of matter? I think it will be hard to set up like this, since cryptocurrency isn't scope in the Law yet. Maybe on some country they started to draft something about this scenario. Hoping for youre response, thanks.
You could use a dead man's switch. There are several out there, and there is also Google's Inactive Account manager. If your gmail account has not been accessed in 3 months, you can set it to send an email to your family.
But emails can be read, so you might want to use encryption like PGP / GPG. You'll have to teach them how to use it and provide you with their public key so you can encrypt the message to them.
The message itself could just be a password or passphrase to an encrypted file stored on a USB drive you keep updated frequently with your private keys.
As long as you're alive, you can prevent the email from being sent.
Now, if you know your family can't learn or be taught how to use crypto or bitcoins, then you might have to ask a trusted third party to help you here, someone like an escrow who will take care of exchanging your coins to fiat for them and sending them the funds. You'd trust this third party or else your family would never get anything. In return you have a contract that will also pay this third party a small portion, since otherwise the coins would have been lost anyway.
But emails can be read, so you might want to use encryption like PGP / GPG. You'll have to teach them how to use it and provide you with their public key so you can encrypt the message to them.
The message itself could just be a password or passphrase to an encrypted file stored on a USB drive you keep updated frequently with your private keys.
As long as you're alive, you can prevent the email from being sent.
Now, if you know your family can't learn or be taught how to use crypto or bitcoins, then you might have to ask a trusted third party to help you here, someone like an escrow who will take care of exchanging your coins to fiat for them and sending them the funds. You'd trust this third party or else your family would never get anything. In return you have a contract that will also pay this third party a small portion, since otherwise the coins would have been lost anyway.
For the security of my cryptocurrency invest I share my private key and password to my wife because that investment is future of my child ao nibody can know where our lifes goes? So much better to share all private from my trusted person.
If keeping my cryptocurrency, will make my unborn children live life to the fullest or enjoy the benefits of cryptocurrency, then I would have done that, but most of the coins in the crypto space do not have such capacity. I would rather keep valuable, listed and highly ranked coins that I believe will grow irrespective of the time or what might be happening.
Personally what I do is that; my wife have access to my wallets and my keys are been shared to my families. The private keys are shared in between my wife and my siblings because, haven only one person controlling my wallets may not be the best way to keep them after my death in the future. Basically if anything happen to me, the two person involved in the keeping of the private keys will together help our in finding the wallets and the funds out.
If at some point in time I come across death, how would I actually preserve my crypto for other family members to enjoy? I mean, this should be a concern to every crypto enthusiast since all the money they've earned over time could easily be lost without the ability to be recovered by someone else. The decentralized nature of crypto, leaves us responsible of protecting our own funds no matter what.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
Keeping printed records of your wallets can help. For example, my family knows what cryptocurrency is but they don't understand yet how I work here and generate profit. So, the best case to do is to print the infos needed to access the wallet as well as some important instructions. You can even ask a lwayer to put it in your last will if you want to.
I think as in all cases surrounding protecting assets and ensuring they get inherited by the proper persons in situations of sudden death, one has to always confide in a next of kin by sharing sensitive details regarding your assets in this case (crypto assets) with a trusted family sibling or relative. This will ensure your digital wealth and assets get preserved in cases of sudden death.
If at some point in time I come across death, how would I actually preserve my crypto for other family members to enjoy? I mean, this should be a concern to every crypto enthusiast since all the money they've earned over time could easily be lost without the ability to be recovered by someone else. The decentralized nature of crypto, leaves us responsible of protecting our own funds no matter what.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
get a tattoo with your private keys (QRcode even?)
don't tell anyone about it
when u die your loved ones will either find it, or you can leave the details about it in your will
Even if u die naked with no ID, your crypto keys might survive that way haha
.And I wouldn't quite believe QR code on the skin, the skin changes during life
. 
I don't have a will made out yet, but I do have all the information needed to recover the crypto I have written down in a notebook, plus I've told family members about it. I think that's all I'd need to do myself, but I'm sure it would be different for someone who actually owns a ton of crypto (I do not).
For a whale or someone who has tens of thousands of dollars or more in bitcoin or alts, I would recommend having a will drawn up as well as telling the person or persons you're leaving it to how to access it upon death. Goes without saying that you should be able to trust that person.
For a whale or someone who has tens of thousands of dollars or more in bitcoin or alts, I would recommend having a will drawn up as well as telling the person or persons you're leaving it to how to access it upon death. Goes without saying that you should be able to trust that person.
Seconded. Giving access to one's digital account to a trusted family member or loved one. It might be hard to do at first. I mean, I hesitated a bit because if you mistakenly give access to the wrong person, You might lose everything sooner even while you're still alive. But it's an essential and logical thing that everyone that owns digital assets should do. Many things can do wrong that's why I'm of your opinion of only picking someone who is trustworthy and only let them know after you've passed.
But if a stranger who's playing around accidentally scan that, you'll be sorry.
@Abiky, I think that you should be prepared in a way through talking to them. Like giving them some idea on what you are preparing and just tell them the truth that in case something unexpected happen to you, they will be secured. Just leave them a set of instructions including your private keys.
@Abiky, I think that you should be prepared in a way through talking to them. Like giving them some idea on what you are preparing and just tell them the truth that in case something unexpected happen to you, they will be secured. Just leave them a set of instructions including your private keys.
Thanks for the tip. However, most of my family members aren't that tech savvy enough to understand cryptocurrencies in their entirety. I could leave some step-by-step instructions, though. But I wonder, if they'll be able to follow them precisely. I often use passwords with 50 characters in length in order to strengthen security. Encrypting my cryptocurrencies with such a long string of characters might be difficult to access in case of any undesired situation. Of course, I can write it down on a piece of paper. But even that could be exposed to someone not authorized.
I was thinking that maybe a multi-sig wallet would serve well its purpose for preserving my cryptocurrencies in case of death. It's easy enough to generate keys for specific family members so that 2 out of 3 keys could successfully unlock my crypto balances. If somehow the process of releasing crypto to loved ones upon my death would be fully automated (via a smart contract or something), then it would be a blast. In the meantime, I'd think it's best for me to prepare a video with in-depth instructions on how to unlock my crypto balances in the case of death.
I can feel that there's something with this post and you're too thoughtful to your family. Well, I've prepared mine and given them a hint on what's a private key, what's ledger, etc. My video instruction will be followed.
you can write your secret keys on a paper and save them in the safe deposit box and write instructions for your family to extract them.
If at some point in time I come across death, how would I actually preserve my crypto for other family members to enjoy? I mean, this should be a concern to every crypto enthusiast since all the money they've earned over time could easily be lost without the ability to be recovered by someone else. The decentralized nature of crypto, leaves us responsible of protecting our own funds no matter what.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
Which is why, I'm eager to know which are the best practices to preserve my cryptocurrency in case I die in the future? Any recommendations or suggestions will be highly appreciated. Thanks in advance.
this sounds funny btw,
I do have planning for probably focuses on crypto world until , well , lets say towards old age.
but, i probably sell all of my asset before i enjoying the my old day.
so, i have no worry about it.
but if u have a different plan,
well probably u must have some a personal accountant who will give your valuable private keys after you die to your family. or a will may be enough.
or if u crazy enough, u can make some puzzle like davinci code on your cupboard.
It's a good question, but it's hard to answer. Because cryptocurrencies contain very complex methods of protection. If your family knows nothing about cryptocurrencies, they'll probably never get to your funds. But instead you can transfer your funds to a single exchange and show your family how to get to that exchange.
Since I don't have much money, I haven't felt the need to do so. But people with a lot of money seem to be able to come up with a solution like this.
Since I don't have much money, I haven't felt the need to do so. But people with a lot of money seem to be able to come up with a solution like this.
Jump to: