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Topic: What happens with my crypto when I die? - page 13. (Read 3042 times)

hero member
Activity: 1372
Merit: 503
I think no one has any plan on how to deal with the question which you have raised mainly due to three reasons. Firstly, cryptocurrencies are somewhat new to most of the users and they might not have plans on whether to keep those in long run or to sell those and convert into the fiat currencies. Next, the majority of the Cryptocurrency users are millenials and the Gen Z persons who are still in the age group of 18-40. Finally, if you consider the way the market fluctuates at the moment, no one would think of holding the currencies for many years and they would surely sell those as soon as they get a better rate. So, if anyone has a doubt on what to be done to the cryptocurrencies under the mentioned circumstances the options he/she has are: including the credentials in his/her last will, share the credentials with a trustee, have a backup at some other place, etc.
there's only two that maybe happen when your die. maybe your cryptocurrency is just stacked in your existing account because we know that the accounts are haven't mo expiry date. but mybe the one that may come happen also, if there's a data tht observed in the system of user of cryptocurrency and if they set an year it is just cycle in the industry.
member
Activity: 356
Merit: 14
https://exiptoken.io/
I think no one has any plan on how to deal with the question which you have raised mainly due to three reasons. Firstly, cryptocurrencies are somewhat new to most of the users and they might not have plans on whether to keep those in long run or to sell those and convert into the fiat currencies. Next, the majority of the Cryptocurrency users are millenials and the Gen Z persons who are still in the age group of 18-40. Finally, if you consider the way the market fluctuates at the moment, no one would think of holding the currencies for many years and they would surely sell those as soon as they get a better rate. So, if anyone has a doubt on what to be done to the cryptocurrencies under the mentioned circumstances the options he/she has are: including the credentials in his/her last will, share the credentials with a trustee, have a backup at some other place, etc.
jr. member
Activity: 154
Merit: 1
Your bring your coins with you if you do not leave your private keys to some one open or in question mode how mosaic

I  let my wife or husband or kids knows my private key when I'm still on sickness or wrote in a piece of paper  to let them take in place in behalf of my absence or they can used my coins in preparing of my grave.
Crypto currency is design as decentralized system if you  didn't able to share your password with your heirs no one can touch it. It will be forgotten and die.
member
Activity: 420
Merit: 11
BitHostCoin.io
If you have a tension of coin after your death.So first you have to explain to some family members about Bitcoin.If your family member does not understand Bitcoin then how do they withdraw money from Bitcoin Wallet? It has to be explained so that the money you invested can reach your family.

You are right, but how can we be sure that the family members will spend time knowing all our investments if we just gave them some info about it? I think giving a step by step notes will gonna help them in the future if they are really willing to get our investments or if they will believe us.
full member
Activity: 434
Merit: 100
I think the investment will still possessed in your name and no one should claim it unless there is a stipulations that governs the ownership of that securities which have been abandoned by the decedent.
copper member
Activity: 280
Merit: 0
If you have a tension of coin after your death.So first you have to explain to some family members about Bitcoin.If your family member does not understand Bitcoin then how do they withdraw money from Bitcoin Wallet? It has to be explained so that the money you invested can reach your family.
newbie
Activity: 266
Merit: 0
I dont think so that bitcoin will die.., many people now is involving in crypto world, thats why its hard to think that bitcoin wilL die.. But if that happen in the future i guesS many of ur is a millionaire at that time.
full member
Activity: 434
Merit: 100
☀️ Iskra Coin ☀️
If you die your crypto will still stay in your wallet. If you dont give the backup with your family then your coins will not be sold unless your wallet is hacked. So my suggestion is give your backup to your wife or husband or people who are very close and you trust.
hero member
Activity: 1540
Merit: 508
It is alway in the network system until the system down even you die. You can pass it to your wife or kids by sharing private keys or cold wallets. If not, it will stay forever in the system.
full member
Activity: 696
Merit: 100
Depends on you when you were still alive, if you gave or shared your wallet`s password or private key to someone, then they could use your crypto when you die. But if not, then it would stock on your wallet or perish at the future. Better donate your money already when you feel like dying, there are many people who are needy.
newbie
Activity: 70
Merit: 0
 A silly question it is but a good one too, well no can predict the day of their death but the only thing we can do is to make sure that our money is secured and always have a back up
newbie
Activity: 84
Merit: 0
Your bring your coins with you if you do not leave your private keys to some one open or in question mode how mosaic

We dont know when we will die if our dying period is on tragedies or accident all those coins are gone.
newbie
Activity: 84
Merit: 0
Your bring your coins with you if you do not leave your private keys to some one open or in question mode how mosaic

I  let my wife or husband or kids knows my private key when I'm still on sickness or wrote in a piece of paper  to let them take in place in behalf of my absence or they can used my coins in preparing of my grave.
sr. member
Activity: 339
Merit: 250
Because you can control your own wallet. So nothing will happen to the crypto. Preferably before you die, you first tell your family about the private key to access into your wallet. Then it will not be a waste. because if you die but no one can access your wallet then it will be in vain and better you give access to your family. That's all I think.
newbie
Activity: 266
Merit: 0
When you die your cryptocurrency token will remains in your wallet but if there someone part of your family using also or know also the crypto they can get your account
sr. member
Activity: 523
Merit: 285
If you die with your secret key stored in privacy where no one can get them then in your wallet is where they will remain, no one touches them ever, they literally die with you, however, your cryptos can be passed down to your kids i you so wish, Open a safety deposit box  and write a will that it be opened only when you are dead, in it  write down the details and instructions to whom you want the coins to go to, this way your coins are passed on to someone
sr. member
Activity: 434
Merit: 250
When you die, your cryptocurrencies stay at your wallet, so if you give your private key to person , he will be the owner of this wallet .
full member
Activity: 868
Merit: 108
Obviously if you die your digital money will die also, if there is no other person has knowledge about your crypto wallet, maybe you need to give some information to someone you are trusting like your mom, child, or a like.
newbie
Activity: 76
Merit: 0
The last month has shown how much the mood of market participants depends on the reliability and security of their savings.there is nothing to worry. Until then they will be serene and peace of mind.
member
Activity: 140
Merit: 10
BookiePro.Fun - The World's Betting Exchange
Silly question right? Smiley
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.

Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them

So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?


UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.

What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.
If you have a bitcoin in your wallet and you died but no one knows what is your private keys to your wallet then literally your bitcoin will stuck their forever and no one can access it. So if I were on you just share you keys to limited persons who are trustworthy.
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