If You Died Tomorrow, What Would Happen To Your Crypto? - page 9.

Brybro27

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Quote from: angrybirdy on October 21, 2019, 02:12:12 AM

Quote from: Kersh768 on October 21, 2019, 01:55:50 AM

The answer to the question is a bit obvious, it would remain in your wallet, ofcourse, unless, there are other people who knows about private infos of your wallet in order for them to take over of your holdings. Your holdings won't vanish just because the wallet is no longer active, as far as I know. So basically it does depend to the person if he would let other people know about his investments in crypto if ever he would die someday just to be prepared and for investments to not be wasted.

Basically, if the owner dies and his wallet was left inactive, the supply of circulating crypto will decreased. Unless he trusted it to someone else and continue using cryptocurrency as his heir, which is better so someone can benefit from the earned crypto than letting it to put to waste and become inactive forever.

I understand that the tokens would stay in your wallet. That is obvious. The whole meaning of this post was to hopefully get people to start thinking about taking the necessary steps in order to secure their investments beyond their life. Whether it is sharing your keys and passwords with a close one, or planning to utilize Safe Haven in the near-future, something should be planned out so your investments don't get wasted.

angrybirdy

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Quote from: Kersh768 on October 21, 2019, 01:55:50 AM

The answer to the question is a bit obvious, it would remain in your wallet, ofcourse, unless, there are other people who knows about private infos of your wallet in order for them to take over of your holdings. Your holdings won't vanish just because the wallet is no longer active, as far as I know. So basically it does depend to the person if he would let other people know about his investments in crypto if ever he would die someday just to be prepared and for investments to not be wasted.

Basically, if the owner dies and his wallet was left inactive, the supply of circulating crypto will decreased. Unless he trusted it to someone else and continue using cryptocurrency as his heir, which is better so someone can benefit from the earned crypto than letting it to put to waste and become inactive forever.

Kersh768

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The answer to the question is a bit obvious, it would remain in your wallet, ofcourse, unless, there are other people who knows about private infos of your wallet in order for them to take over of your holdings. Your holdings won't vanish just because the wallet is no longer active, as far as I know. So basically it does depend to the person if he would let other people know about his investments in crypto if ever he would die someday just to be prepared and for investments to not be wasted.

bryant.coleman

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Well.. for my part I have taken a printout of all the private keys to my Bitcoin wallets and the hard copy is with my parents. They don't know anything about Bitcoins, and therefore I think that my coins are safe. But this is not a 100% safe method. Always there is a chance of a robbery occuring at home and these backup sheets stolen. And once the coins are moved from the wallet, there is no method to get them back. I think this is a major issue facing the cryptocurrency users as of now.

And this is why I am thinking about purchasing a hardware wallet. It is easier to keep secure backups with hardware wallets. And if something happens to me, then my relatives will be able to access the hardware wallet (provided that I am keeping my PIN number somewhere secure). But the advantage with hardware wallet is that it makes your coins more susceptible to government seizure or confiscation. If we keep our coins in online wallets, then there is no such risk.

tambok

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If I die I will not be happy because I have little children left and no longer have the privilege of being a father to them, and just in case I died today my wife is there to continue what I started here in crypto, besides all my account and password even email are all known by my wife.

Fredomago

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Quote from: Brunus on October 20, 2019, 04:35:05 PM

Well, be careful and prepared. Storing private keys in paper format is not difficult, but you need to know who can be trusted, and this also applies to notaries, lawyers or other.
We say that it may be useful to leave a set of instructions to a notary, indicating the place where "documents" are stored without specifying what it is.

Always be in the positive side, You have to specify those information without giving any idea if what are those due to the possibilities that even those types of services can harm your assets. Thinking about making it more legal and allowing your store assets be in the right hands after something wrong happens to you.

Let everything be in the right position. Dying can't be stop, planning ahead is a must not to let your assets turned to nothing after.

BitcoinHunt3r

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Quote from: Eugenar on October 20, 2019, 02:37:45 AM

Quote from: BitcoinHunt3r on October 20, 2019, 12:43:28 AM

I already backed up all my exchanges account, email and password and 2fa in notepad. But only in 2 flashdrive. And told some of my friends that if i die, please call my family in my facebook list so they know if i have assets in exchange.

if and only if, your family is aware how bitcoin is or cryptocurrency is. because sadly to say, most of our parents are already contented with our fiat, most of the time, they arent accepting any new form of technology as if their mind is close to it. I would rather suggest that you should tell your friends about this. Those that also know how crypto works.

I already told my father and mother about bitcoin. And they only told me to be careful especially if bad news appear in television. Maybe we should tell them slowly, and prove that we can success with it. Before success, it is better to keep it first because some parents usually underestimate what their kids do.

Brunus

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Well, be careful and prepared. Storing private keys in paper format is not difficult, but you need to know who can be trusted, and this also applies to notaries, lawyers or other.
We say that it may be useful to leave a set of instructions to a notary, indicating the place where "documents" are stored without specifying what it is.

Ferris419

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I never thought about it, but by reading your points, Now I thinking that I should make a will for the future! Though I gave my hardware wallet's phrase code to my parents and younger sister. But they Don't have any idea about cryptocurrency at this moment. So, If i die today, my all assets will remain in vain! In the coming time, when my sister will grow up, I will teach her. And, I will never support any third party services for my crypto assets!

Classica35

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I am looking toward to building my portfolio to a point where I will be able to say that I am leaving something substantial for my loved ones. Although, what seems to be small today, might be very huge in future, because of the volatility of cryptocurrency as well as the possibility of its growth in future.

Sithara007

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Quote from: ?? on ??

I have been here for about a year, on the other hand I started teaching my brother to know the crypto industry and how to store assets in one place. from there I don't worry if I die tomorrow because my sister is the first person I tell about my wallet.

Hmm.. good for you. I don't have such a luxury, because I don't trust anyone with my coins. It was my husband who introduced me to the world of cryptocurrency back in 2014. I haven't shared my backup or private keys even with him. Sharing them with siblings is also out of question. I don't trust them 100% as well. For now, I am the only one who can access my coins. If something happens to me, then $30,000 worth of coins will be lost. But that's the way it is going to be. Don't have any other option right now.

forexandcryptoauditor

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All my assets in hardware wallet and delivering it along with private key to my 10 year old daughter, explaining whats inside the wallet.
Someday, she can encrypt all assets and sell it or hold it.

joinfree

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

This thought had once occured to me before and i figured it would really be a total waste of time to accumulate some amount of money in crypto and if unfortunately i should pass away nobody gets to spend it. So i have been saving my keys on an offline and giving instructions on how to spend some cryptocurrencies. This is sometimes tiring as i need to give so many directions. In addition, i have talked to a very bossom friend of mine to help my family in case the unevitable happen to me someday Sad

pundit

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This is worth giving a though, death is inevitable, if your crypto wallet is secretly accessible to you only it may go useless after you. Your current crypto profile may be worth nothing but if it contains lot of crypto coins which may increase in future giving good return. It is very important to give access to some very close friend or family members of yours to access your wallet . I think the best way is to teach your spouse or any person you trust the most to access your wallet when you are not there.

valuater

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In 2017-2018 I thought about this one way I think we should teach families (brothers, sisters, cousins, etc.) that can be trusted and teach them how to access our wallets and also teach them to sell the assets we have, and I don't trust close friend because he could have actually just taken our assets but to avoid this maybe I could make an agreement as well and maybe also make a legal statement first and notify our family.

leowonderful

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Bitcoin FTW!

I've entrusted a few people close to me with one of several keys that can be combined to unlock a multisignature wallet with a part of my funds I've set aside purely in the case that I were to die, and I've also left the locations and coordinates of a few cold wallets I've got and basic instructions on how to use those cold wallets (in various forms, paper wallets and hardware etc). I still keep the majority of my coins on my personal cold wallet and those coins are likely going to be lost in the event that I die, but that's for in the case someone decides to take my coins early.

There's really no perfect solution to this. Simplest thing is that your coins go with you when you die.

malekbaba

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I have educate my wife to withdraw funds from wallet. It was hard task cause she has little knowledge about wallet , above all about crypto. Cause I have positive feeling about crypto and that is why I am here into this forum, and I consider my tokens/coins as valuable asset. I am ETH and BTC lover and have wriiten my MEW details into my secret places and my wife knows all of the places. I even used secret code so only she can understand. I am keeping my asset secret for my baby boy and my wife, for future use.

Pearls Before Swine

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I think we just had a similar thread floating around here somewhere. Anyway, I’ve told family members about my interest in crypto and also that I’ve written down passwords and seed phrases in a notebook that I keep secured. Not that big of a deal since I don’t have enough crypto in total to make anybody even close to wealthy.

As I said in that other thread, individuals with very large amounts of bitcoin or alts ought to have a will made up so there’s no mistaking who gets what and how to access it. I don’t think anybody should own significant amounts of crypto without putting into place a plan. That’s irresponsible and short sighted. We’re all going to die at some point and nobody knows when that’s going to be, so planning is important.

Irvinn

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If you answer the question in essence, then personally in my case all my work and the cryptocurrency that I saved will disappear without a trace in the event of my death. It is today such a situation that there is no such person in my family who can understand the activities that I do. But it would be correct to write a will, and this needs to be done at the moment for every person, regardless of what he does, but in cases with cryptocurrency users, you need not only a will, but also conduct some training for the person to whom you will bequeath your cryptocurrency assets. In addition, if the will shows where your funds are stored, then one way or another, the person who receives everything under the will will be forced to understand and study this issue in order to use cryptocurrency assets.

aysg76

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Quote from: airdnasxela on October 20, 2019, 06:18:42 AM

Circumstances may happen suddenly so we should always be prepared of it. We're all going to die so if ever I will die tomorrow (I hope not), I have my family who can handle and manage what I have left in this earth. Everything is in my pc, accounts, password and etc. and they can just access it. It's better to let people whom you trust the most, know about these stuffs but not to disclose everything to others. Only to your family and you know you can trust.

Yeah, you can't deceive death but all one can do is to be prepared for it. Since most of the people want their future, their family's future to be secured, so it's better to make your family or your closest ones aware of all your investments in the crypto, your accounts, passwords previously before the death so that they could manage them after you and that can help them to sustain life else all your money would be lost...

Topic: If You Died Tomorrow, What Would Happen To Your Crypto? - page 9. (Read 2574 times)