What happens to my Bitcoin when I die? - page 4.

Fredomago

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Quote from: traderethereum on December 08, 2021, 10:34:21 PM

Quote from: arditiyan on December 08, 2021, 07:53:45 PM

actually it is not a problem if you lose your assets. because it does not affect the market. but I think it's better if your assets can be passed on to your children, and your child or wife must know your password in the future. so I think it can be useful for your assets in the future

It will not affect the market, but it will affect his family wherein he can give the asset to his family while he teaches them how to use it.
By doing that, your family can have an asset from you that is passed away and who knows, they will have a chance to make more money from the asset.
That is what you should do if you care about your family and want to see them have a better life and use the asset appropriately.
Besides that, by teaching your family about your asset, they do not have to confuse or search for the other job because you teach that by working from crypto, it will be enough for them to cover their needs.

Most of the time, the money or any investment that we have we wanted it to be inherited by our love ones, if you die and forget to provide any information to anyone there's no chance recovering all your asset anymore, you needed to make sure that as early as now, talk to someone who you really trust and provide the information.

Make sure that you fully trusting the person you are dealing with, especially if you are owning a huge amount of assets.

Internet is an easy access to hack your money, trusting is another thing for sure. Roll Eyes

bitzizzix

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What happens to your digital assets when you die, there doesn't seem to be a single answer to that question and but There is a lot of good advice to be prepared when we die because death is certain.
and the best way is to make a plan or instructions for making a will as most people say and make a list of how to use it or how it works so that the heirs can access it and can use it, and you have to give it the will of someone or a family member you trust and you believe he can do it.

and if you realize that death is imminent, it is a good idea to make a sale and transfer it to your wife if you are married or another family member or tell someone you trust about the assets you own before death arrives.

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Quote from: 95Bolu on December 05, 2021, 01:33:04 PM

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

This is the reason why now that you are still alive, you should pick the most trusted person or people in your family so that if an accident will happen at least somebody knows how to access your Bitcoins or altcoins.

If they don't know your passwords or private keys and you die (hope not) then those coins will be lost forever at least for now. We don't know what can be the technology in the next years and decades and maybe we can see something that can get lost Bitcoins (though I'm not expecting this to happen) but to summarize, if nobody knows your private keys then your holdings will be lost forever.

As for me, I already gave all my private keys to somebody that I trusted with so that if something bad happens to me then at least somebody knows where are my holdings and just sell it immediately.

barabarian1

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Quote from: 95Bolu on December 05, 2021, 01:33:04 PM

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

its like your secret story, they will disappear with your life.
your family will get your coin if you tell them about your job, not only that coin, but also how to do something if that bad thing happen.

the problem is, most people who use bitcoin is younger, and their parent dont know, or they know but just know the outside. when we start to tell, it will take long long time for them to understand because of age. good decision if you have right man to make action if that thing happen to you.

RavenTimmy

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Bitcoin is a crypto currency with no physical existence. A person can store Bitcoin in his blockchain account. Secured De-Fi wallets can also be used for storing bitcoins, and the details should be stored with the ultimate privacy. Hence, when a person dies, those details can be lost forever. In that case, it will be impossible to recover them again. However, the person can decide to share the details with his family members considering a case of emergency like death.

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Quote from: arditiyan on December 08, 2021, 07:53:45 PM

actually it is not a problem if you lose your assets. because it does not affect the market. but I think it's better if your assets can be passed on to your children, and your child or wife must know your password in the future. so I think it can be useful for your assets in the future

It will not affect the market, but it will affect his family wherein he can give the asset to his family while he teaches them how to use it.
By doing that, your family can have an asset from you that is passed away and who knows, they will have a chance to make more money from the asset.
That is what you should do if you care about your family and want to see them have a better life and use the asset appropriately.
Besides that, by teaching your family about your asset, they do not have to confuse or search for the other job because you teach that by working from crypto, it will be enough for them to cover their needs.

Dhaniii

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no one knows when and where, as an investor in crypto it is impossible to die an asset but cannot be used by relatives or children. My advice is that you leave important notes to be accessed by your wife and children when you die and before that you have to be open and teach your children about crypto that you have storage assets in the form of bitcoin assets so that at any time you die they will know you have an inheritance. abandoned.

xSkylarx

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Quote from: arditiyan on December 08, 2021, 07:53:45 PM

actually it is not a problem if you lose your assets. because it does not affect the market. but I think it's better if your assets can be passed on to your children, and your child or wife must know your password in the future. so I think it can be useful for your assets in the future

It's going to be a major issue for your family or children because they won't know how to obtain your bitcoin and also because it's a large sum of money that could greatly benefit your family. Imagine if you were the only one earning money and feeding them when you suddenly died. What will happen to your family? They will struggle! That is why the last will and testament were created; those assets could be given to family members. Therefore, I believe it is best to inform them and also have a physical wallet available to them. It is preferable to be prepared, as we never know when we will die.

arditiyan

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actually it is not a problem if you lose your assets. because it does not affect the market. but I think it's better if your assets can be passed on to your children, and your child or wife must know your password in the future. so I think it can be useful for your assets in the future

oemar bakrie

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can't do anything if you don't know private or access to bitcoin wallets or other crypto wallets.i
ndeed that's a risk that must be known,, with risks like that from now on give or give a password or a note on how to enter a bitcoin wallet on .those closest to us who we can trust.and it's like an inheritance to our closest family or friends.

Cling18

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It is advised that we should have at least a single person who would handle our holdings if ever happens in the future. In my case, I and my spouse are both holding a small amount of Bitcoin and we entrusted each other with our wallets' access. We should be well prepared since we don't know what could possibly happen to us in the future. Entrusting our funds with our family members would be a wise idea but we have to make sure that they would also know what to do with it in the future.

Alisha FR

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You are a person who owns bitcoin assets, do you believe in your child. If you trust them, you can also tell them the confidentiality to access your wallet. The method is very easy, you just need to give them trust, if one day you have died, then the child will be able to manage your bitcoin assets. I think this is more suitable, the most important thing is to instill a sense of trust in the children themselves.

Jasad

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what happens to bitcoin when I'm dead, maybe the answer is simple, because it all depends on our own stance, this goes awry, if we give the code to someone else, our bitcoin will most likely disappear, if we don't give the key to someone else otherwise, bitcoin will be wasted, I personally think it's better if we leave a will to the closest people and people we trust the most, so that bitcoin can be used by our children..

Obito

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Unless you've thought of what to do if that time comes then I think that it's possible that your bitcoin would be given to whom you choose to give it to and in the case that you didn't think of it, I think that it's a good call to say that you're bitcoin will forever be lost especially if it's in a hardware wallet.

airdata

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Quote from: Amejoaquim on December 06, 2021, 11:07:11 PM

If you don't have children/ familly, find a friend you have absolute trust in and give them the seeds to store in a safe.

As a Example, Have one Bitcoin in my wallet and i am alone, not have my family, Then I don't have to think about what will happen to my bitcoin after my death. And i think it maybe dangerous if someone share about his hidden fund with his Friend.

AakZaki

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many threads have explained about how to do so that our family knows about the coins we have and holds full private keys with valuable assets. Everything must be arranged and made in the form of notes as heirs of the wallet you have.
There are many ways that can be done if you really care and want your family to know about the investment and some of the coins you have.
only trusted people are included in the inheritance rights and don't give it to people you don't trust.

kucritt

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well, if you die without give your wallet account (username or private key or passphrase) i think you will let your bitcoin stuck at that wallet, your family just can see your bitcoin without have access to use it, i think it will be good if you tell your family about your wallet account, user name, private key or pass phrase from now, because honestly we can't now when we will die haha Grin

molsewid

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Quote from: rozak on December 07, 2021, 11:47:35 PM

that was if everything had been planned well before he died.
but if he dies due to an accident without a plan to make a will to be given to the family or the handling party. I guess the owned BTC assets will never open again.
at the very least, we should tell how to manage assets or teach families to invest in crypto assets. so when the family gets a will or knows the file to access the wallet. they can access the inherited BTC even without the help of others.

I think this is not the first time I've encountered this related thread here in the forum and answering OP's concern whenever a bitcoin holder dies left without any notes or no one knows that he/she has a crypto asset then no one could access his/her digital wallet. I don't want to think any bad things happen to every bitcoin investor or holder but I think as a preparation for any circumstances it is much better that we take down notes of all our important phrases, keep it and leave a direction note to where it is located if ever it is not stated on the last will. No one wants to die or unexpectedly accidents happen but if anything would happen it is better to leave our family something that could greatly help.

rozak

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Quote from: Reatim on December 07, 2021, 11:12:25 PM

actually he can set it all in his last will and testament , there is no need to give those right away, it can be out in a Vault together with His physical assets and bank books that will only be open once he died .

that was if everything had been planned well before he died.
but if he dies due to an accident without a plan to make a will to be given to the family or the handling party. I guess the owned BTC assets will never open again.
at the very least, we should tell how to manage assets or teach families to invest in crypto assets. so when the family gets a will or knows the file to access the wallet. they can access the inherited BTC even without the help of others.

Reatim

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Quote from: suryogandul on December 07, 2021, 08:26:42 PM

Quote from: 95Bolu on December 05, 2021, 01:33:04 PM

If I die (let's be honest, that will probably happen), would my wife or family get my coins? What if they don't know my passwords/private key?

It's simple, if you don't tell your wife or kids, you won't be able to pass the bitcoin benefits on to your family and the bitcoins will stay in your wallet forever.

not just wife or kids or family members because this can be a friend that you trusted more specially if you have no family members

Quote

it may not be good considering you have a family. so my advice is that you have to give your secret password to your wife or child who can be trusted to be able to be a re-generation to pass on your assets in the form of bitcoin.

actually he can set it all in his last will and testament , there is no need to give those right away, it can be out in a Vault together with His physical assets and bank books that will only be open once he died .

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