Topic: If You Died Tomorrow, What Would Happen To Your Crypto? - page 5. (Read 2597 times)
There is an option to make crypto-weighing. Only there are problems, as a rule a will is on average, or even at an older age. And if this happened at a young age and this is an accident. Then all the savings remain on the wallets. There is also data on thousands of bitcoin wallets. I do not say the owners have died. There is a fact about wallets with currency, and that it will remain so.
Funny as it may sound, the truth is that if many die, their asset will be gone and not transferred, this is because the first rule about wallet is keeping it safe and not disclosing it to a third party. It might surprise you that the one person who knows it might not be careful using your private keys, so, many people will only give out their private keys when they know they are about to die.
who knows and can choose when they will die? let's just say the biggest possibility is that all assets will be lost when our family and friends do not have access to the wallet where we store the assets we have. Well, if I die tomorrow, there in nothing I won't worry about, yes, I don't have much holdings of Bitcoin, and my wife knows my passwords so it is fine, aside from that I do have insurance so that will secure them, I also have some sort of savings, at least they will not worry too much and have small business for my wife to take care of too, if I die tomorrow, I may not as rich as I would like to be, but at least I gave security to my wife and kids that they won't worry too much for their daily life.
Knowing the password and your private keys by our love ones like what OP had mentioned is the first step we need to do, for our cryptocurrency not go to waste. However, the whole point of what OP posted is that we need to be more broad and considerate by doing that, in short, we have to teach them how to use it properly for them to take all the benefits from cryptocurrency in the long run.
By just knowing your passwords and private keys, it will just took a week or even a day (worst case scenario) and they already sold it all, the coins you hold for a very long time, in a very cheap price.
Well, if I die tomorrow, there in nothing I won't worry about, yes, I don't have much holdings of Bitcoin, and my wife knows my passwords so it is fine, aside from that I do have insurance so that will secure them, I also have some sort of savings, at least they will not worry too much and have small business for my wife to take care of too, if I die tomorrow, I may not as rich as I would like to be, but at least I gave security to my wife and kids that they won't worry too much for their daily life.
Funny as it may sound, the truth is that if many die, their asset will be gone and not transferred, this is because the first rule about wallet is keeping it safe and not disclosing it to a third party. It might surprise you that the one person who knows it might not be careful using your private keys, so, many people will only give out their private keys when they know they are about to die.
Well if you die unexpectedly before you can give anyone your wallet information or any other way to obtain your BTC, then it is essentially lost forever. I was thinking of Cutting my 24 seed in half. I keep half, and then I cut the 12 words in half and give six words to two different family members. That way, they would have to work together and still come find my third piece of the key. And If I have 12 words to both of them, they could collude against me and take it all. This way, they have to wait til I die before they can rummage through my belongings.
At the moment, I can say that my cryptocurrency, in case of my death tomorrow, will remain inaccessible to my relatives. The reason is simple.
I have not yet prepared for this event, I have not created instructions for my family, and I do not know when I will do it.
After all, it’s difficult to think about death and prepare for something like this, it is equivalent to writing a will, it is difficult psychologically when you are still alive and full of energy.
However, I believe that everyone should take on this responsibility and create instructions for their near and dear ones. So that in case of your death, they can use your cryptocurrency.
I have not yet prepared for this event, I have not created instructions for my family, and I do not know when I will do it.
After all, it’s difficult to think about death and prepare for something like this, it is equivalent to writing a will, it is difficult psychologically when you are still alive and full of energy.
However, I believe that everyone should take on this responsibility and create instructions for their near and dear ones. So that in case of your death, they can use your cryptocurrency.
I just take down notes all my e-wallet together with their passwords and I am keeping them safely inside my wallet.. and only my son knows about it 
I have prepared it. the option I used was number 2, teaching my wife how to access my crypto account, I taught it a few months ago, and today my wife can find ways to access my account. because I have several trading accounts and each of them has crypto. so I am no longer worried
When a close friend of mine died, I woke up to the fact that anything could happen at anytime and you are not too young to be called to the great beyond and although he wasn't a Cryptocurrency enthusiast, his death opened my eyes to the fact of mortality and I immediately took the steps to ensure that my efforts while I am alive never goes to waste, I stored my private keys somewhere and made my family aware of it but they cannot access it while I am still alive because it would involve getting their hands on my SIM card which I guard very jealously, but if anything happens to me, it would be theirs to own and they can have access to all my crypto funds.
Since this is an investment and can become a good inheritance to all your children, you should make it a point to create a method where you can transfer this to all your heirs easily and they should understand how this thing works in the first place, your pointers are all good but educating your heirs about your investment is still the best option.
As more and more investors join this sector, a question everyone should be asking themselves is: "What happens to my crypto if I was to die unexpectedly soon?"
I understand the thought of this is depressing, but it is inevitable and the only thing that matters is whether you prepared for it or not. Most of us have enough money in this game to start preparing for this in order to prevent it from going to waste.
If you haven't planned around this, or even thought about it yet, I recommend investigating the few options below:
1) Include all your wallets and passwords/seeds in your will. Make sure you include instructions on how to access your funds as well as giving these to someone not familiar with crypto will be just as useless as not even including them in your will.
2) Along with the will, teach the closest person in your life how to access your funds. Whether this is your significant other, family member, or really close friend, make sure someone understands how to access a wallet and transfer/sell the funds. Just like how you should be researching projects before you invest in it, make sure you choose who you share your secrets with carefully.
3) Take a look at Safe Haven. Safe Haven is building an Inheritance Platform that will allow you to do everything above, but with a legal entity that understands crypto and will make sure your funds get in the right hands. Not only will you reassured that your funds are secured and inheritable, but you will also be increasing the adoption of crypto yourself, outside of just investing into it.
So no matter what you are invested in, if it is a large amount of money, I recommend you begin thinking about the future. Crypto is very complex and requires a lot of time to make it fully inheritable, so please make sure you take the appropriate safeguards and steps in doing this correctly.
I understand the thought of this is depressing, but it is inevitable and the only thing that matters is whether you prepared for it or not. Most of us have enough money in this game to start preparing for this in order to prevent it from going to waste.
If you haven't planned around this, or even thought about it yet, I recommend investigating the few options below:
1) Include all your wallets and passwords/seeds in your will. Make sure you include instructions on how to access your funds as well as giving these to someone not familiar with crypto will be just as useless as not even including them in your will.
2) Along with the will, teach the closest person in your life how to access your funds. Whether this is your significant other, family member, or really close friend, make sure someone understands how to access a wallet and transfer/sell the funds. Just like how you should be researching projects before you invest in it, make sure you choose who you share your secrets with carefully.
3) Take a look at Safe Haven. Safe Haven is building an Inheritance Platform that will allow you to do everything above, but with a legal entity that understands crypto and will make sure your funds get in the right hands. Not only will you reassured that your funds are secured and inheritable, but you will also be increasing the adoption of crypto yourself, outside of just investing into it.
So no matter what you are invested in, if it is a large amount of money, I recommend you begin thinking about the future. Crypto is very complex and requires a lot of time to make it fully inheritable, so please make sure you take the appropriate safeguards and steps in doing this correctly.
i think such approaches as safe haven is doing is really great. i haven't thought of any usable alternative to such a service yet.
i still find a way to manage the data transfer, but there must also be people who help the members with the processing.
only access data alone is not enough. so there would certainly be a market for these services here.
I’m not aware of this so-called Safe Haven. What I did I only share my private keys or my wallet that stored all of my crypto assets to my loved ones. I already discussed how crypto works, how to open a wallet and how to familiarize the coins I have held. I don’t entrust my crypto assets with a third party or organization for security purposes. Better we have a plan like this as we cannot foretell what will happen tomorrow.
Yes, I agree with your point, regarding crypto assets, it is better to give it to the closest person or someone we love, be it our parents or siblings and it is important to tell about how to access the wallet / how to transact with crypto ,. I personally do not have plans to share my crypto assets with third parties, even though it is guaranteed to be safe but it is far more risky. on the one hand I had anticipated this before death would pick me up later.
And we don't have any way to be sure about these guarantees as well. It would sound logical to just have the private keys and information to someone that you fully trust. If you don't have any, to some charitable institution that has a pretty good reputation. I wouldn't want to take all my crypto assets with me after i'm gone and i'd prefer to have either my loved ones or people who are in need to benefit from it.
I’m not aware of this so-called Safe Haven. What I did I only share my private keys or my wallet that stored all of my crypto assets to my loved ones. I already discussed how crypto works, how to open a wallet and how to familiarize the coins I have held. I don’t entrust my crypto assets with a third party or organization for security purposes. Better we have a plan like this as we cannot foretell what will happen tomorrow.
Yes, I agree with your point, regarding crypto assets, it is better to give it to the closest person or someone we love, be it our parents or siblings and it is important to tell about how to access the wallet / how to transact with crypto ,. I personally do not have plans to share my crypto assets with third parties, even though it is guaranteed to be safe but it is far more risky. on the one hand I had anticipated this before death would pick me up later.
I’m not aware of this so-called Safe Haven. What I did I only share my private keys or my wallet that stored all of my crypto assets to my loved ones. I already discussed how crypto works, how to open a wallet and how to familiarize the coins I have held. I don’t entrust my crypto assets with a third party or organization for security purposes. Better we have a plan like this as we cannot foretell what will happen tomorrow.
I have recorded all of my valuable assets in a book and also told people I trusted in the family so that if something unexpected happened that asset could be taken and could be used by the family for their needs. because of course we do not want the assets we have only in the wallet so on. it's better to use our family
I always guide my family on how to trade in this market and open a separate account for them. I think any money I make in this market they know and can withdraw at any time if I have a problem. In my opinion this issue needs to be decided as soon as you enter this market and if you hold a large asset in the crypto market then your relatives must be the first to know. Of course I will teach them how to trade in the crypto market every month and make more specific videos if I am free.
I have recorded all of my valuable assets in a book and also told people I trusted in the family so that if something unexpected happened that asset could be taken and could be used by the family for their needs. because of course we do not want the assets we have only in the wallet so on. it's better to use our family
Great thing, will do that too, I trust my family, so I am entrusting everything with my sibling, I let her know my password in my laptop, and in my email, telling her that whenever something happens to me then she can access to it, I know how much she values me, so I know I can trust her a lot.
Besides sharing our personal info, let's make sure that they know how to access it a well, so I told her about everything, she's still teenager and time will come she will be able to do this crypto world too soon.
I have recorded all of my valuable assets in a book and also told people I trusted in the family so that if something unexpected happened that asset could be taken and could be used by the family for their needs. because of course we do not want the assets we have only in the wallet so on. it's better to use our family
As more and more investors join this sector, a question everyone should be asking themselves is: "What happens to my crypto if I was to die unexpectedly soon?"
I understand the thought of this is depressing, but it is inevitable and the only thing that matters is whether you prepared for it or not. Most of us have enough money in this game to start preparing for this in order to prevent it from going to waste.
If you haven't planned around this, or even thought about it yet, I recommend investigating the few options below:
1) Include all your wallets and passwords/seeds in your will. Make sure you include instructions on how to access your funds as well as giving these to someone not familiar with crypto will be just as useless as not even including them in your will.
2) Along with the will, teach the closest person in your life how to access your funds. Whether this is your significant other, family member, or really close friend, make sure someone understands how to access a wallet and transfer/sell the funds. Just like how you should be researching projects before you invest in it, make sure you choose who you share your secrets with carefully.
3) Take a look at Safe Haven. Safe Haven is building an Inheritance Platform that will allow you to do everything above, but with a legal entity that understands crypto and will make sure your funds get in the right hands. Not only will you reassured that your funds are secured and inheritable, but you will also be increasing the adoption of crypto yourself, outside of just investing into it.
So no matter what you are invested in, if it is a large amount of money, I recommend you begin thinking about the future. Crypto is very complex and requires a lot of time to make it fully inheritable, so please make sure you take the appropriate safeguards and steps in doing this correctly.
This could be a good problem for big investor. For me I will set up a family member as a nominee. Then I will write down all steps how to open or how to use even will write authentication code if exchange used. Then all I will put in bank account, this is the plan to me. I understand the thought of this is depressing, but it is inevitable and the only thing that matters is whether you prepared for it or not. Most of us have enough money in this game to start preparing for this in order to prevent it from going to waste.
If you haven't planned around this, or even thought about it yet, I recommend investigating the few options below:
1) Include all your wallets and passwords/seeds in your will. Make sure you include instructions on how to access your funds as well as giving these to someone not familiar with crypto will be just as useless as not even including them in your will.
2) Along with the will, teach the closest person in your life how to access your funds. Whether this is your significant other, family member, or really close friend, make sure someone understands how to access a wallet and transfer/sell the funds. Just like how you should be researching projects before you invest in it, make sure you choose who you share your secrets with carefully.
3) Take a look at Safe Haven. Safe Haven is building an Inheritance Platform that will allow you to do everything above, but with a legal entity that understands crypto and will make sure your funds get in the right hands. Not only will you reassured that your funds are secured and inheritable, but you will also be increasing the adoption of crypto yourself, outside of just investing into it.
So no matter what you are invested in, if it is a large amount of money, I recommend you begin thinking about the future. Crypto is very complex and requires a lot of time to make it fully inheritable, so please make sure you take the appropriate safeguards and steps in doing this correctly.
i've told my brother that i have some assets in crypto world. i split it, some of them i changed it into fiat money and the rest i keep it as cryptocurrency. and i told my family if i die, they can find my money in my bank account cause i changed my crypto into fiat money and i keep my details wallet and accounts in my computer. so my brother will find it. i trust my brother, because he has a bigger assets than mine.
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