Topic: What Happens To Your Crypto If You Sleep One Day and Don't Wake Up The Next Day? - page 2. (Read 307 times)

Let your heirs be conversant with Bitcoin and cryptocurrencies in general. I think these threads will help:

Halloween inspired poll –would your Bitcoins get passed on if you suddenly died?
What happens to my bitcoin if I die today?
Leaving Bitcoin as inheritance

I have a question for you, do you manage any hard notebook to write you all the credentials related to crypto? If so, then simply write a trusted person's name on the notebook with a phone number who could help recover your funds and handover to your family after you pass away. Better if you tech one of your family members about how works cryptocurrency and how they could recover. For me, I have written one of my trusted friend name and mobile number as well. If I pass away my family member would call him to recover all the crypto since I write all the credentials I am connected with. I know it's hard to trust anyone else, but I don't have any other option. No one from my family member is enough educated to recover the funds. So you may do the same as me, I don't see any alternatives way.

If i go to sleep and dont wake up anymore tomorrow , nobody will get my crypto i have now !
There are not much left of people who i can be give anything .
But yeah possible i make some plan about to donate it some where but dont know .

Bitcoin is a decentralized network and there is no stipulated system for inheritance, but you can create your personal means of transferring coins should you not be available to access it anymore.
Ideally, you should only store your funds on non custodian exchanges and ideally, you should also keep backups for all your funds, you can leave this backup available to your next of kins for them to discover, you can disclose the location to them.

If they are not cryptocurrency savvy, you can draw up a will with notes and guides on how to access it, this will be revealed to them should anything happen to you.

You can also create a timelocked transaction which would be sent to a specific address sometime in the future, you will at this point have revealed the details of the wallet to whoever the transaction should be going to.

Hi guys!

Today, I came across a thread in the altcoin section which asked about the wildest things in crypto... I thought deeply for some seconds, and this thought came to my mind, and immediately, I realized I've thought about this several times in the past but never paid any attention to it, that thread/topic in altcoin section took me back and reminded me of this again, and am putting out the same question out here for all to ponder on, and who knows, maybe from here, we all might begin to think of ways we can make crypto much better for all.

I will go straight to the point....

 CryptoCurrency is decentralized, we all know this by now, and due to this decentralized nature, there's currently no way to register or appoint a next of kin who will take over the crypto assets of a user when he or she passes away/dies.

You know sometimes, I just ask myself, "what happens to all this money I've invested in crypto if I sleep tonight and do not wake up tomorrow morning? (that is, die in my sleep)" what happens to all my crypto investments stored on centralized exchanges which non of my family members know about or have access to, because they either don't know am into crypto or they don't know the password to login to this different exchanges and withdraw my money?? What happens to the money I leave in this exchanges when I die?
What happens to the coins and tokens(worth alot of money) stored in my different private wallets, example, trust wallet(I have more than 10 different wallets inside trust wallet), metamask, atomic, coinomi, monarch wallet, Bitgesell wallet, student coin wallet and several others, this different wallets have different private keys and some make use of seed phrases and non of my family members have access to any of this wallets because -

1. they  don't know it exist or that am into crypto(if at all they know what crypto is).

2. (if they know am into crypto) they don't have or know the private keys or seed phrases to each of this wallets and they also don't know where I store/stored them.

3. Assuming they have my phone in which this wallets are installed and still linked, they are all passworded and they still don't have the password to unlock it.

If I then go to bed tonight and don't make it out alive tomorrow morning, what happens to all this money ive invested in crypto, how do they get access to this money, what about the ones I staked on different platforms, how do they figure out each one of this platform and get the money out when am not there???

I guess this is a very important question we should all ask ourselves.

Thank you and welcome to the discussion.....