If I die can someone achieve my btc. - page 5.

UserU

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Quote from: batang_bitcoin on April 22, 2021, 10:43:20 AM

I've received the same question from my wife. Well, I understand her part asking that because I'm not opening things about bitcoin and I've told her that I might make some notes on how to claim it if ever I happen to be gone unexpectedly. That sounds odd on my part upon hearing it but I understand her to worry when she asked that.

Well as long as she's open about it then it's good enough. Lots of people I know are still skeptical and are not willing to earn passive income with it despite the benefits.

Lorence.xD

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Quote from: protocon on April 22, 2021, 08:52:30 PM

hmm.... Why would she ask you that question? That's weird.... but probably you could because if she knows your private key she should be able to access to your account.

We all need to have that conversation with our significant other and I think that talking about mortality is a therapeutic thing and a necessary thing that you couples need to talk at. For me, if I was to have that dilemma, probably a hardware wallet will be enough to suffice or you can do what Hal Finney did, he gave bitcoin to his kids.

Sithara007

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Quote from: dansus021 on April 22, 2021, 08:33:04 PM

buy hardware wallet for big money and using mobile wallet like trustwallet or safepal for daily transaction and tell your wife how to using it

and make sure your wife not cheating on you and spend you hard earned bitcoin with other guy Cheesy

The second part is the most important one. Grin

Nowadays, anywhere between 60% and 70% of the marriages end up in divorce. So you need to ask yourselves, whether you want to take this risk or not. I have seen a lot of the marriages among my friends suddenly breaking up, despite going on smoothly for so many years. And if that happens, then all of your coins are gone. So you need to make a choice. The chances that you will die suddenly may be 0.1% or 0.2% per year (if you are in the 18-45 age group). On the other hand, the chance of a divorce is 60%.

nicecrypto

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That was a good question by her IMO because I understand that this is one thing we usually wouldn't think about, what happens to our Crypto assets if we happen to drop dead any day? can our loved ones have access to them so that they dont get lost forever because we never had anything saved where they can access them? My wife knows where everything is saved, as in written down in my crypto diary from exchange password, wallet passwords, wallet seeds the whole works so if eventually something happens to me, they can have access to my crypto assets. I think we would love for our loved ones to be able to access your portfolio if something like death happens.

protocon

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hmm.... Why would she ask you that question? That's weird.... but probably you could because if she knows your private key she should be able to access to your account.

dansus021

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buy hardware wallet for big money and using mobile wallet like trustwallet or safepal for daily transaction and tell your wife how to using it

and make sure your wife not cheating on you and spend you hard earned bitcoin with other guy Cheesy

Ibrahim60

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Quote from: Ebede on April 22, 2021, 09:02:33 AM

I went to market with my wife to buy things for our new born baby, after my wife selected baby things that Worth thousands and I paid with my btc,the transaction was very easy and faster. When we returned home ,she asked if you die can I achieved your btc or continued with your account? Because it's very easy and faster in trading and transaction.

Bitcoin is the good and potential coin in the world. Though its transaction is faster but transaction fee is high. If you send per to per then you don't need any transaction fee.
Now I'm come to answer your question. Your wife can achieved your bitcoin or continued with your account if you give her access(private keys) of your bitcoin wallet. Otherwise she can't access your wallet.

Theb

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For custodial wallets they have a process when it comes to an account owner dying while they still have cryptocurrencies in their account. Here is the page for Coinbase talking about the transfer of assets to your kin.

Furthermore they will need this which will be similar to other custodial wallets.

Quote from: https://help.coinbase.com/en/coinbase/managing-my-account/other/how-do-i-gain-access-to-a-deceased-family-members-coinbase-account

When you contact us, we will ask for the following documents:

-Death Certificate
-Last Will and Testament - AND/OR - Probate Documents (either Probate, Letters Testamentary, Letters of Administration, Affidavit for Collection or Small Estate Affidavit)
-Current, valid government-issued photo identification of the person(s) named in the Letters Issued
-A letter signed by the person(s) named in the Probate Documents instructing Coinbase on what to do with the balance of the Coinbase account

For hardware/desktop wallets I think you should prepare earlier with a will and testament instructing your lawyer about where your wife will access your private keys and an instruction on how to recover them of course it will be easier if your family will be familiar with Bitcoin wallets so I think it is better if you have instructed them earlier on.

DdmrDdmr

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There are lies, damned lies and statistics. MTwain

A couple of interesting threads to read though on the matter:

What happens to my bitcoin if I die today?
Halloween inspired poll –would your Bitcoins get passed on if you suddenly died?

Now the interesting thing is that (although not extrapolable) on the second thread above referenced, 41,3% of the participants are certain (100% certain) or near certain (90% certain) that their heirs would be able to access their bitcoins. This leaves a broader 58,8% that would likely fail in being able to access them (let alone not mess-up once they’ve got access to them). And that is derived from a poll held on a bitcoin forum, where these topics are often treated, creating a certain conscious on the subject …

One needs to instate an inheritance plan, drill/test it every now and then to see if it’s solid and the recipients are able to access and control the bitcoins, keep the plan up-to-date, and iterate the drill every now and then. Seemingly easy to think of, but perhaps not that frequently depicted and tested in the terms it should be.

batang_bitcoin

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Quote from: UserU on April 22, 2021, 10:12:18 AM

that question sounded so dark; after shopping, go home, gets asked "Will I get your BTC if you die?".

I've received the same question from my wife. Well, I understand her part asking that because I'm not opening things about bitcoin and I've told her that I might make some notes on how to claim it if ever I happen to be gone unexpectedly. That sounds odd on my part upon hearing it but I understand her to worry when she asked that.

Alucard1

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This is really suspicious, how come your wife asking that thing on you, If you die can I achieved your BTC? like seriously? Why did she ask you that question? It is something offensive for you or maybe you already have sick which may cause death or your doctor has already limit your life, but if there is no between the two then it is really suspicious for a wife to ask that question, I am just curious on the reaction of yours after she asked you about it.

UserU

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While bitmover has explained how to transfer the BTC wealth to the next of kin, that question sounded so dark; after shopping, go home, gets asked "Will I get your BTC if you die?".

bitmover

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bitcoindata.science

Quote from: Ebede on April 22, 2021, 09:02:33 AM

I went to market with my wife to buy things for our new born baby, after my wife selected baby things that Worth thousands and I paid with my btc,the transaction was very easy and faster. When we returned home ,she asked if you die can I achieved your btc or continued with your account? Because it's very easy and faster in trading and transaction.

This is certainly a very important topic , which most people do not pay attention because we don't think we are going to die anytime soon...

First of all, where are your Bitcoins stored?

If they are in a custodial wallet, such as binance or any other exchange, I will recommend that you move those funds to a more suitable long term storage, such as a hardware wallet or even a desktop wallet (if the amount if low).

For desktop wallets I would suggest Electrum, and for Hardware wallets you can safely buy Ledger Nano S or Trezor One, which are the cheapest models.

Once you have setup your wallet you will receive a 24 word list called Seed.

The seed is everything you need to recover your funds in case you lose access to your wallet (desktop or hardware).

So the seed is the only thing you should worry about. You can share it with your wife, and she will be able to recover your bitcoins if you die... Be careful because anyone can recover your funds using your seed

$ISLM

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Buy a hardware ledger

Ebede

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Join hands and help me to grow everybody...

I went to market with my wife to buy things for our new born baby, after my wife selected baby things that Worth thousands and I paid with my btc,the transaction was very easy and faster. When we returned home ,she asked if you die can I achieved your btc or continued with your account? Because it's very easy and faster in trading and transaction.

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