Topic: What happens to the coins after your death ? - page 4. (Read 2425 times)
We are taught to being not share your keys to anyone. After death coins are useless for family. If anyone leave its keys in his personal dairy then it can be benificial for his family otherwise coins are useless.
will be buried into a treasure, if my heirs do not know my virtual treasure, or at least until my children can access and learn to find out my files,
as an anticipation I will introduce crypto early on at least to my wife so. that my crypto assets will still be useful if I die
as an anticipation I will introduce crypto early on at least to my wife so. that my crypto assets will still be useful if I die
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
In this situation you will lose your bitcoin forever, it is locked. we saw these problems when John died physically in prison, his wife couldn't use the options to open the wallet. Bitcoin and crypto do not have proof of inheritance. It is also a risk that you must build to avoid these situations. 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
So what could be the solution to this
When i first learn and invested in crypto , i tend to keep this as secret to my wife and family , i don't even tell stories to my friend because those days in my country this was being talked as scam or some sort of that. but eventually when my investment grows and my activities here comes long and longer? i realized that what is the purpose of this if one day i died surprisingly ? so i start sharing to my wife and now , she already has access to all my accounts so whatever happened we are ready and they will benefits from all my funds.
I personally make a box containing the keywords of all the wallets that I use. And I told my family the box could be opened if I was gone from them forever. And I assume when the time comes they won't understand how to use it either, but I've made a message to where they ask and find out everything, I'm giving this forum link and hopefully when the time comes all my legacy in the wallet can be inherited safely without the intervention of others.
This is a good idea, keep everything in a box, we have to make sure that the box is safe from damage or theft, the next step is to tell about crypto. Sometimes it is not easy to tell details about crypto to the family, the easiest way is to convey that crypto is the same as stocks and can be sold, then they will easily understand.
Agree. He has a brilliant idea . I would try to do this also though i am still young but we really dont know when our death arrives so we should be ready. It good to save all the private key or phrases in paper then store it in box or anything, informed you family about it then it is not necessary to teach them crypto they will know it later on and discover how to open your wallets.
I personally make a box containing the keywords of all the wallets that I use. And I told my family the box could be opened if I was gone from them forever. And I assume when the time comes they won't understand how to use it either, but I've made a message to where they ask and find out everything, I'm giving this forum link and hopefully when the time comes all my legacy in the wallet can be inherited safely without the intervention of others.
This is a good idea, keep everything in a box, we have to make sure that the box is safe from damage or theft, the next step is to tell about crypto. Sometimes it is not easy to tell details about crypto to the family, the easiest way is to convey that crypto is the same as stocks and can be sold, then they will easily understand.
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
I personally make a box containing the keywords of all the wallets that I use. And I told my family the box could be opened if I was gone from them forever. And I assume when the time comes they won't understand how to use it either, but I've made a message to where they ask and find out everything, I'm giving this forum link and hopefully when the time comes all my legacy in the wallet can be inherited safely without the intervention of others.
This is a great way to pass down our digital treasure to family members. Giving that message will of course be safer and all the achievements we have achieved will be more useful for our families when we die.
I'm thinking about this, but haven't started to take action on it yet.
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 put on my back up everything now into 4-5 flash drives in case there are some problem with it because we know sometimes it can be broken or unreadable and i save it in my room. Maybe if i dead, my parents can use it to access my wallet/exchanges which i save my money (hope so) and can retrieve my money. It happens once to my friend, gladly she shared his account to friend that she believe and they can give her parents money that she saved in Poloniex. 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
No one can say when people will die, but death is inevitable. No matter how much you save in cryptocurrency, one day you will have to leave it.I will write down all my passwords and important documents in a notebook and leave it with my daughter.The girl has already shown me all my passwords and important phrases. Will be able to use them after my death.
As far as I know, there is no way to recover the lost private key etc.. It doesn't work like you click "I forgot my password." and bingo! So, you should keep your private information somewhere safe and inform the people you trust about it. Otherwise, there will be nobody who knows about it when you die and your coins will be gone forever I'm afraid. I know this is unfair but for now, we have nothing to do about it except this.
I came to the same conclusion of my own, after all storing something long term in an USB is simply not a good idea, I have had USBs that died on me from one day to the other for no reason at all which means that it is not really a reliable way to store your coins and hope that they are there for long enough for the person that you want that it gets your coins to actually do so, I suppose that I still need to study the subject and see if there is a more viable solution.
Storing important files in hardware such as USB then the item can die or be lost, another disadvantage if you don't tell someone then no one will know the use of the file. I don't think there is any other solution other than informing siblings and teaching some wallet access knowledge or getting them involved in crypto. 
Don't share your private key with anyone. However, depending on the kind of family that you have, you and your family can be one. You can be so united that y'all trust yourselves. But if your case is not so, you can leave them a clue based on their intellegience. You can store your keys in a secret place but not too tough for family. What if you store it in a device that only your family member's fingerprint can open but you won't let them have access to the device. Or what if you split each key between different courts, instructing them to give it out on confirmation of owner's death?
I have not thought about it, as far as I know there are already USB devices that can only be opened with your fingerprint, so if the USB encrypts all the information that goes inside then you can set it so it only opens with the fingerprint of the one you want to leave your coins but you do not give them access to it until you pass away, this is not a bad way to inherit your coins and I am going to look into it a little bit more to see if it is a viable strategy.Mehn, I cannot trust these USB devices. I have seen flashdrives (pendrives) have errors and the owner looses vital information. In a case like money, I don't think USB devices is a good way to store your keys. Ever wondered about it having some virus and getting corrupted? Even if they say it is virus-free, mehn, we are talking about money here; one must be careful to avoid permanent loss of funds.
Don't share your private key with anyone. However, depending on the kind of family that you have, you and your family can be one. You can be so united that y'all trust yourselves. But if your case is not so, you can leave them a clue based on their intellegience. You can store your keys in a secret place but not too tough for family. What if you store it in a device that only your family member's fingerprint can open but you won't let them have access to the device. Or what if you split each key between different courts, instructing them to give it out on confirmation of owner's death?
I have not thought about it, as far as I know there are already USB devices that can only be opened with your fingerprint, so if the USB encrypts all the information that goes inside then you can set it so it only opens with the fingerprint of the one you want to leave your coins but you do not give them access to it until you pass away, this is not a bad way to inherit your coins and I am going to look into it a little bit more to see if it is a viable strategy.Mehn, I cannot trust these USB devices. I have seen flashdrives (pendrives) have errors and the owner looses vital information. In a case like money, I don't think USB devices is a good way to store your keys. Ever wondered about it having some virus and getting corrupted? Even if they say it is virus-free, mehn, we are talking about money here; one must be careful to avoid permanent loss of funds.
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 thought about that long after we had children. And now I've been teaching my wife about my job, about bitcoin and others. We have to trust each other, if with your wife you don't trust her by giving her the password it's your risk. The coins you save will not be useful later for loved ones. So I've set it all up, gave my wife the passcode. Because I believe and believe in my wife.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
Nice words and in fact whom are you going to trust if not your wife in a healthy relationship? Wouldn't share it with her if she was soon going to be my ex-wife, but that is not how you enter a marriage right? 
Someone should know where and how to access your digital assets. It is a damn pity if you have a fortune lying around and your children grow up and can't benefit from it. That is not what a father would ever intend anyway. That is awesome and I see it the exact same way. There is no perfect and ideal world where you can trust someone 105%. Even a marriage can fail at some point, but that doesn't mean distrust is the necessary outcome of course. We will always need someone whom we trust no matter what, that is just how life goes. Trusting the mother of your kids is probably the safest bet, at least in many cases.
All the best! 
If you don't give someone access to a platform like crypto no one will be able to find them after death. That's why we should teach someone close to us about crypto and share personal information with them then after death he will be able to re circulate the coins the trustworthy person of the family has to teach everything in advance. Also those who have no idea about crypto can convert to fiat by doing this they will be able to transact easily the coins will not go bankrupt.
I can't write exact answer of this particular question because these type of things are new. In my family nobody understand what is bitcoin, what is private keys and things like that so in that case we should try to move our funds into centralized exchange and we should add nominee there and I know there are some exchange which don't provide service like this but exchange should think about it.
Every person can get the tests of deaths and no one can get ride of it. I am also ready to take the situation of death and already listed all my personal wallet account password and phases into a daily notebook and handed to my only daughter. She would recover my all data after my dead.
Don't share your private key with anyone. However, depending on the kind of family that you have, you and your family can be one. You can be so united that y'all trust yourselves. But if your case is not so, you can leave them a clue based on their intellegience. You can store your keys in a secret place but not too tough for family. What if you store it in a device that only your family member's fingerprint can open but you won't let them have access to the device. Or what if you split each key between different courts, instructing them to give it out on confirmation of owner's death?
I have not thought about it, as far as I know there are already USB devices that can only be opened with your fingerprint, so if the USB encrypts all the information that goes inside then you can set it so it only opens with the fingerprint of the one you want to leave your coins but you do not give them access to it until you pass away, this is not a bad way to inherit your coins and I am going to look into it a little bit more to see if it is a viable strategy. 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 thought about that long after we had children. And now I've been teaching my wife about my job, about bitcoin and others. We have to trust each other, if with your wife you don't trust her by giving her the password it's your risk. The coins you save will not be useful later for loved ones. So I've set it all up, gave my wife the passcode. Because I believe and believe in my wife.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
Nice words and in fact whom are you going to trust if not your wife in a healthy relationship? Wouldn't share it with her if she was soon going to be my ex-wife, but that is not how you enter a marriage right? Someone should know where and how to access your digital assets. It is a damn pity if you have a fortune lying around and your children grow up and can't benefit from it. That is not what a father would ever intend anyway. 
I told my brother about my cryptocurrencies Investment and I also gave him my private keys. It important you tell someone about it, not just anyone, but someone you trust. Because it you don't, and eventually something happens to you, they won't have access to your Bitcoin. And it will be useless. However, you have to tell someone who can manage and secure your bitcoin, someone who knows about Cryptocurrency and how it works.
Jump to: