Topic: What happens to the coins after your death ? - page 2. (Read 2430 times)
If that was going to happen am afraid to say these coins will be there just growing in value without anyone to claim them and I think this is a what happens with many crypto users bitcoins. And I think it's time to introduce family to this so that should anything happen they have some crypto to remember about should they decide to use it after am gone.
When you die your coins die with you unless you set up some kind of system that transfers your coins to your beneficiary after your death. I think with cryptocurrencies in this case it is even worse for the deceased and his family because without the private keys the coins are forever lost. Another story for the news
Unless the access to where its stored is not given to any, it would lost. I would prefer to give the access to my spouse. I am training her on it though. But to those who do not trust anyone else, can write their wills to any trusts, orphanages, homeless people and etc. If this is not done so, the coin remain stable somewhere, where none can access and it would become useless.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
it has become a certainty-the crypto that is owned is useless-for that from an early age people who are involved in the crypto world, should teach the family-that's important.Crypto-assets-so the family deserves to know.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Unless its an accident of a sudden death, your coins could probably be dead also. For me, if I can feel death for is near, I would really make a personal letter in email containing my keys and send it to my beloved ones with a note in every address. A plan should be established before your death and give all your wealth. You can't bring those wealth so give it to people you care the most. I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Because of the nature of cryptocurrency, if one doesn't make proper plans as one does for his assets after death, it may either be lost permanently or squandered.
It may be lost in the sense that if his passwords and keys are not properly documented and kept safely, nobody will be able to gain access in the sad case or scenerio of death.
It may be squandered and sold off quickly also if it was documented and passed on to someone who has little knowledge of the importance and future of cryptocurrency and is just shortsighted.
That is why inheritance should be considered as early as possible by those who own large amount of crypto asset such as bitcoin. The investor in crypto will probably care so much about the asset they own that it's possible for them to think about where their asset should go after their death. If they do not have a private key that has been secured and handed over to a trusted party, chance are that the heirs will not be able to be used by their heirs. That is, when the heirs do not have the private key then the asset is not for them and the worst thing is that the asset will be lost forever from circulation.It may be lost in the sense that if his passwords and keys are not properly documented and kept safely, nobody will be able to gain access in the sad case or scenerio of death.
It may be squandered and sold off quickly also if it was documented and passed on to someone who has little knowledge of the importance and future of cryptocurrency and is just shortsighted.
Because of the nature of cryptocurrency, if one doesn't make proper plans as one does for his assets after death, it may either be lost permanently or squandered.
It may be lost in the sense that if his passwords and keys are not properly documented and kept safely, nobody will be able to gain access in the sad case or scenerio of death.
It may be squandered and sold off quickly also if it was documented and passed on to someone who has little knowledge of the importance and future of cryptocurrency and is just shortsighted.
It may be lost in the sense that if his passwords and keys are not properly documented and kept safely, nobody will be able to gain access in the sad case or scenerio of death.
It may be squandered and sold off quickly also if it was documented and passed on to someone who has little knowledge of the importance and future of cryptocurrency and is just shortsighted.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Now I don’t have neither a spouse nor children, but when I get married and have children, I will make them learn all the seed phrases and passwords, and I will leave them my cold wallets and all accounts, of course. I suppose that my children will be familiar with Bitcoin, blockchain technologies and all innovations, so they will know what to do with this digital heritage.
I would be very careful with anyone and in a best case scenario it is a friend who in relation to your crypto wealth earns enough wealth himself or herself to not be tempted to ultimately betray you. If your best friend is known to be in (financial) trouble, with all due respect it might still not be the perfect decision to entrust him with keys to your cryptocurrency wealth.
I wouldn't do that if I were you. Even brothers, sisters, and wives can do things you won't expect they would. If you are healthy or do not expect to die sooner like you have plenty of enemies trying to get you just keep your private keys and seed with you. I can see the logic that anyone could die any moment, probably won't wake up the next morning but at least give it to someone you know you can trust.
Having kids is a lot difficult actually. You don't know who to trust and if the ones you trust will also take care of your kids. A less bitchy sister I guess will help.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Now I don’t have neither a spouse nor children, but when I get married and have children, I will make them learn all the seed phrases and passwords, and I will leave them my cold wallets and all accounts, of course. I suppose that my children will be familiar with Bitcoin, blockchain technologies and all innovations, so they will know what to do with this digital heritage.
I would be very careful with anyone and in a best case scenario it is a friend who in relation to your crypto wealth earns enough wealth himself or herself to not be tempted to ultimately betray you. If your best friend is known to be in (financial) trouble, with all due respect it might still not be the perfect decision to entrust him with keys to your cryptocurrency wealth.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Now I don’t have neither a spouse nor children, but when I get married and have children, I will make them learn all the seed phrases and passwords, and I will leave them my cold wallets and all accounts, of course. I suppose that my children will be familiar with Bitcoin, blockchain technologies and all innovations, so they will know what to do with this digital heritage.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Now I don’t have neither a spouse nor children, but when I get married and have children, I will make them learn all the seed phrases and passwords, and I will leave them my cold wallets and all accounts, of course. I suppose that my children will be familiar with Bitcoin, blockchain technologies and all innovations, so they will know what to do with this digital heritage.
I am trying to figure out the best way to give that information to my loved ones, without giving them the information first before I die. Is it cheap to rent out spaces where you can store notebooks with passwords on it. I don't even think these kinds of establishments exist. Put everything in a notebook and then just leave it in a pile of your personal documents, waiting for them to see once you are gone. I think that is they only way. Specify that it is cryptocurrency so they should find someone with the know-how and retrieve those coins.
I think that is one of the best ways to go about it. I do understand that some people are uneasy about giving out this kind of information thinking that some family members might even turn against them because of what they believe they can get from it but somehow there must be a trusted person in your life that you can share such information with. I really don't think that family members might turn against each other when it comes to digital assets ( I am not sure about that though since in my experience families get to arguments sometimes when it comes to matters concerning plots of land or inheritance). But my idea where all of your passwords, passcodes, seed phrases, wallet addresses are inputted inside a notebook and then just leave that notebook inside your personal documents stash and then kept in a "chest" to be stored for a long time. For me that is really the best way for you to ensure that your digital wealth can be passed on to whoever has possession of the notebook.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Now I don’t have neither a spouse nor children, but when I get married and have children, I will make them learn all the seed phrases and passwords, and I will leave them my cold wallets and all accounts, of course. I suppose that my children will be familiar with Bitcoin, blockchain technologies and all innovations, so they will know what to do with this digital heritage.
I am trying to figure out the best way to give that information to my loved ones, without giving them the information first before I die. Is it cheap to rent out spaces where you can store notebooks with passwords on it. I don't even think these kinds of establishments exist. Put everything in a notebook and then just leave it in a pile of your personal documents, waiting for them to see once you are gone. I think that is they only way. Specify that it is cryptocurrency so they should find someone with the know-how and retrieve those coins.
I think that is one of the best ways to go about it. I do understand that some people are uneasy about giving out this kind of information thinking that some family members might even turn against them because of what they believe they can get from it but somehow there must be a trusted person in your life that you can share such information with.
I am trying to figure out the best way to give that information to my loved ones, without giving them the information first before I die. Is it cheap to rent out spaces where you can store notebooks with passwords on it. I don't even think these kinds of establishments exist. Put everything in a notebook and then just leave it in a pile of your personal documents, waiting for them to see once you are gone. I think that is they only way. Specify that it is cryptocurrency so they should find someone with the knowhow and retrieve those coins.
I have been working in this cryptocurrency for a long time. From here my country has come up with a much bigger idea. But the day I will not be in this world, I will go through the children in my family in this life.
In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.
I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
Everyone is trying so hard to make that this asset like the crypto is well safe from hackers or family manipulators who can switch on ones weakness to destroy the long awaited reward of holding a crypto. This is why many crypto holders and investors will keep be hiding their secret keys from anyone and when they die, everything will be lost without trace by the family members or close relatives. I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this
While holding we give maximum importance to the security of the wallet. We use different forms of security enabled to keep our holdings safe. Same as this it is more important to have our private keys shared to someone close or with our family, because we don't know the truth about life. The private keys need to be shared in such a way, it can be used only after his/her death. This is possible through some bank/private vault services.
As far as I know, our coins are just gone if they didn't share the private information with anyone before we die. Because there is no other way to recover the necessary information that is needed to access a wallet.
It is true. If you don't share the private keys, all the coins will be gone since no one can access them. That's why it is very important to share your private keys with someone else, suggested to the nearby person (a family member). We must know if we won't live forever, there should be the end of this life. So, to prepare it is a must, the coins can be useful for our lovely people at least. It is very unfortunate if they are gone or stuck in the wallets.
As far as I know, our coins are just gone if they didn't share the private information with anyone before we die. Because there is no other way to recover the necessary information that is needed to access a wallet. I know that it is frustrating but we must keep the wallet information somewhere safe and easy to remember.
Jump to: