Topic: In what way you’ll inherit Bitcoin to your loved ones? - page 2. (Read 236 times)

My option is Notebook or journal because all my accounts,email, password,wallet address and ptivate keys are all listed on my notes. And i think, for me i will teach them about bitcoin and other cryptocurrencies and on how to use it so that it become easy fot them to inherit my bitcoin and other cryptocurrency. It is like a tradition or custom that every member of the family should be taught so that it is not difficult to pass on to them and to the next generation.

If you have a lot then might as well just spend it now to buy properties or something that is tangible and that you know they can benefit even without your coins.  Just let your coins be found. You can add a note that you have some type of digital assets and how to access them.

I haven't thought that far like dying but I might just print my addresses and privatekeys along with it and pin it on the bulletinboard we have. Its just embarrassing that I only have few my kids will just laugh at it but at least they won't have to quarrel over it.

Crypto is a form of an asset and inheritance which should be handled the same way you handle all your other assets. If you hold bitcoin I will advice you to file a documents containing the wallet phrase private keys and put it as part of your will same way you do for your other properties. So when you die, your relations can inherit it. It is now left for them to understand how to use the information you provided to access the crypto

This is true, this is about time to tell your family or teach them how they can access your wallets if ever that something bad happened to you. There's no need for prior research, you can guide and explain to them everything they need to know.

Or simply put your trust on someone that really matters to you. Doing such hiding, burying, or what is like you're avoiding anyone even your family to have it. It will only put to waste if you leave it behind that's why it is better if someone will benefit from it even if you are not here anymore.

I think that there is only one way to inherit Bitcoin to your loved ones - to give them private key to the wallet.

Perhaps it's about time to discuss it with your family then? We really don't know man, if you have a ton of bitcoins, at least let someone know how to access it.


Yes, we really need to go old school and write it everything down or used our imagination on how to hide our private keys, like burying it underground or something. Or just a vault in bank to make sure it will be safe from criminals or physical damage.

For me I still have a small money in crypto to think of this scenario, but If I am going to die I'll just let them know on a sheet of paper. My password and pin on my mobile wallet.

I have personal friends who knows cryptocurrency, in fact they are the one who told me about it and taught me how to do it so it won't be a problem for me and my family to recover my funds in any of my accounts. I hope someday we'll have to talk about it, if one of us die suddenly we should be responsible for transferring the money to his family end. Basically writing it on a sheet of paper is risky, coz what if your house got robbed?

There has been multiple discussion about this in the past. You might want to check it out. Pretty sure 80% of the tips were already mentioned:

- https://bitcointalksearch.org/topic/bitcoin-inheritance-planning-5097720
- https://bitcointalksearch.org/topic/inheriting-bitcoin-5194028
- https://bitcointalksearch.org/topic/leaving-bitcoin-as-inheritance-5245183
- https://bitcointalksearch.org/topic/how-bitcoin-inheritance-can-be-achieved-5106560
- https://bitcointalksearch.org/topic/using-locktime-for-inheritance-planning-backups-or-gifts-5180850

Only make use of wallets that support private keys and seed phrase (paper for bitcoin or hardware for both bitcoin and altcoin is excellent as it can bypass any other protection like pin, finger print or password).

So far you save it for your loved ones to inherit it, it will be good to use a wallet that support BIP39, the reason is because only this backup is excellent enough, all you need to do is to let your loved ones know about bitcoin and how to operate wallets, they should know how BIP39 is so useful to the extent that they can use it to recover back whole funds/cryptocurrencies  from another BIP39 wallets, letting them know about hackers and scammers too.

So, all you will let them be able to access it the BIP39/seed phrase. With this, no 2FA, finger print, password, pin or any other access codes is required to have access to the funds so far the cryptocurrencies are stored on their individual blockchains which their private keys can access, the seed phrase is easily used to access all the private keys at ones and have access to all the cryptocurrencies.

Exchanges are not safe for this purpose as it could have been hacked and does not support BIP 39
Do not use custodial wallet/API key wallets because they do not support BIP39
Use BIP39 wallet that can be easily recovered from other BIP39 wallets for easy recovery.
Indicate the wallet you used for the cryptocurrencies.

We have a thread on this forum about the best way to backup BIP39/seed phrase, this is all what you need.
https://bitcointalksearch.org/topic/m.54635541

This is one thing I have never really taken care of, to be honest. I have this fear sometimes that I might die and my coins would simply stay locked. I don't think there's anyone I know who could get inside my wallets without prior research about BTC..

I might either teach a few of them (closest ones) how to use the wallets and where to take the passwords and seeds from or, otherwise, I'd probably write it all in a notebook although this is a quite bad idea to do so. Imagine writing a "how to get my Bitcoins!" tutorial for in case I die and a thief finding it. That one should either be very very well hidden (perhaps buried underground, but there's moisture and a lot of other factors you have to consider..).

I'm moving towards a notebook one. Now most of my holdings on bitcoin and other coins are under a wallet generated and backed up using mnemonic phrases. And I've written them down on my dairy. My brother is a crypto dumb and my parents are getting old. I'd probably forward it to my girlfriend after we get married (soon). I still have many coins on exchanges and some of my payments are still carried out through web wallets. All of those IDs and passwords are saved to my google account. I need to share it too. But at the moment if I die suddenly, no one would be able to get any of my coins.

I will keep my things very simple. Only bitcoin, there will be no altcoin because more altcoin means more wallets for them to discover and restore.

For my bitcoin wallet I have my seed in papers. Not all words are written in the same paper. Half of the words will be sent by mail or by in person to one group of people (max two) and the rest of the words will be sent same way to another group of people (max two). Both group of people will know my next of kin but they will not know each others. All of them will be instructed to give these papers to my next of kin if I expire by accident or any other reason. My next of kin will have basic knowledge on how to restore a wallet.

PS: Never store your wallet information in any online electronic device.

Last night, I was “advance thinking” in saving all of my passwords, private keys, seed phrases, etc., in case something happens bad to me later on. Lol I’m not saying that I’m dying or so. It’s just that I want to make sure that I would not leave my family empty handed later on if circumstances would arrive to me either by health deterioration, accident, etc. I want them to enjoy later on what I have left for them (just in case something bad happens to me because life is so unpredictable).

If you want to inherit your Bitcoin and other cryptocurrencies to your loved ones, which one of these would be your best option to save your confidential information?

1 - Notebook or journal
2 - TXT or doc file to be saved in USB or external hard drive (especially keystore files)
3 - Google Drive, Docs or Sheets
4 - Others (please specify)

I was also thinking of leaving a fingerprint for my phones to be unlocked for those Bitcoin wallet apps and exchanges that I  have enabled 2FA and Google Authenticator. It’s also not safe for me to save all of them in my dummy e-mail as draft, so I was going to transfer all of them on a much-secured option. Mobile phone is also not an ideal option for me as well, because there’s one time that it forced me to factory reset and I almost lost my seed phrases that I took screenshot using that phone (good thing I enabled Google backup back then).

I would love to hear out your responses to this one guys. Thanks!