this is the answer of your question
* death... obviously ( if you don't give your private key into your family, your bitcoin and other cryptocurrency gone)
* house burns down along with hard wallet (I think it will gone)
* one can accidently loose his cold storage or hard wallet (it will be gone too)
Topic: What happens with my crypto when I die? - page 15. (Read 3042 times)
That's a good question. I think everyone needs to take care of it during his lifetime. Keep them in a very safe place and in case of unforeseen circumstances, someone from relatives had access to them.
Yes, we need someone can trust to take care of our investment in bitcoin cause we don't know what happen tomorrow to our life in case of emergency they know what to do in your investment.
After you die, your assets are still there but the value may increase or decrease based on the market price. You need someone to inherit the property if you die
The crypto on your wallet will still. Beside that, tell our trusted family about our private key just in case. Crypto is the future of investment and at least we left something worth for our family
I will make as a legacy for my family gan. and some I will share with people who can not afford, especially the elderly. because I want to be a caring person to others. in order to be my good deed in the afterlife .
I will make as a legacy for my family gan. and some I will share with people who can not afford, especially the elderly. because I want to be a caring person to others. in order to be my good deed in the afterlife .
It will not disappear of that property, as it is like a block of your property, until your nearest man can not know your private key that you have stored your BTC or wealth. In terms of electricity bills no one can steal or brake your wealth.
The crypto on your wallet will still. It will keep alive until someone knows your privatekeys. Crypto is the future of investment and at least we left something worth for our family
For now when you die without telling anyone of your investment then trust me your investment will remain in the air for good.That is why it is prudent to make other trusted persons aware of your daily dealings. This will help curb situations like this, but i think for some years to come measures will be put in place to enable investors name their next of kins on the platform.
When you die then your crypto currency will remain immortal in cyberspace. If only you alone know where you invest or only you know where you keep your crypto currency assets and you are now dead then none of your family can not find it. You better tell the people you trust the most, maybe your wife or husband. If you have an asset deposit in the crypto currency and tell him where you saved it. This is so that people that you leave can access your savings.
If your relatives do not have access to your wallet, your crypto currency will be lost. so if you do not want your work to be wasted, provide data to the purses.
Silly question right? 
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.
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.
I believe our crypto will still be safe even we die but just make sure that the we give already the keys to person that we really trust so they can continue to invest.
Aave all the private keys/passphrase/passwords all at same place, encrypted. Tell someone about them, maybe the person who you want to have them in case you die. At least reach them about how you can withdraw and cash your holdings.
If amount of your holding is very big then make a will and leave your encryption password there for your loved ones who you trust.
If amount of your holding is very big then make a will and leave your encryption password there for your loved ones who you trust.
That's a good question. I think everyone needs to take care of it during his lifetime. Keep them in a very safe place and in case of unforeseen circumstances, someone from relatives had access to them.
Yes, we need someone can trust to take care of our investment in bitcoin cause we don't know what happen tomorrow to our life in case of emergency they know what to do in your investment.
Good question. I'd be in your place, then I'd get a safe Deposit box and store the hard drive and the cold key files. Perhaps in Switzerland with a detailed solution has already been found. And you can rent the server as a safe Deposit box.
previously the family should be taught and understood about cryptocurrency so that when we inherit they can take and use it, I have made a list of private key and all assets that I have safely that is known to my whole family.
When you die, your crypto will also die if you did not previously prepare to be given to someone you want to receive your crypto. Surely it must be accompanied by the crypto password that you have, so that the person who received your crypto can use the crypto you give it.
you should share your privet key with your close person in your family,i think it's only way that your family can use your coin after your sudden death .
Maybe if you die crypto will be better and growing in my opinion crypto also continue to be popular till whenever and crypto also ajab in use by bank as their transaction tool to facilitate transaction
The best way I know is to explain family members about Bitcoin and giving them a basic idea of what Bitcoin is all about and how Bitcoin transaction works. If you have high amount of Bitcoins then you can prepare a legal will and distribute your Bitcoins to your family members in a legal way to avoid any disputes. Maintaining multiple backup copies is always recommended.
That's good and bright idea to explain your family members about bitcoin and give them a basic information how to bitcoins works. Making a last will testament is one more important things you do cause it indicates here the person you choice to claim your bitcoin. Making more copies of will is good and always recommend of legal counsel. Jump to: