Topic: What happens with my crypto when I die? - page 26. (Read 3042 times)
We can keep our cryptos into the hardware wallets or online ones. We have the secret keys. Like we do for other assets, we can put them in a bank vault and then give a power of attorney to our lawyer that he/she can reach the ones we want to leave a legacy.
Nothing will happen it will.be stired in your wallet forever.so before that happen why not try to share youre private key to one member of your family so that even you died they have access.pick someone whom your trust much.
And don’t forget to teach someone from your family how to use it, if they don’t know. As for me, the best option is to give private keys to your trusted relative. Or if you don’t believe anyone now, maybe you can put this information in your last will. But I don’t know whether it is possible.
I never thought about this issue. But after reading the comments, I saw so many options! But I always have data to access my wallet on paper and my wife knows about it.
It is your responsibility to make sure, someone will have access to your crypto, if something happened to you. Probably it is better to give the info to someone trusted, and knowledge of cryptos, than to the ones, you actualy would want to give, but have no idea what to do with it.
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.
With these above probable causes then the future of our coins will be probably will be become useless if not properly pass to our loves ones. What i did is i created a soft copies to a USB of my coins complete details like the accounts and passwords, private keys, wallet addresses with details and a complete guide on how to transact deposit and withdrawal which hidden in our secret vault in which my wife and children are instructed well just in case. I don't want my hard earned coins will be useless if i'm gone so this is much better than not preparing.
Nothing will happen it will.be stired in your wallet forever.so before that happen why not try to share youre private key to one member of your family so that even you died they have access.pick someone whom your trust much.
maybe it will be stored in your wallet forever, but I do not know. we do not know that. even people who lost their wallet, still have bitcoin inside the wallet. maybe it will be an investment forever.
Bitcoin is a virtual form of money that is protected from hacking and theft using cryptographic methods. On the one hand, this increases the safety when storing money. On the other hand, there is a risk of losing bitcoins if their owner dies. There is a chance that a huge fortune in digital coins will be lost to the family forever. This is the problem of most relatives of technically gifted and progressive-minded holders of crypto-currencies. And this market has tens of billions of US dollars. so you need to hedge and leave all your relatives with keys.
according to us The best way is to explain to family members about Bitcoin currency or direct them basic ideas what is Bitcoin currency and how to operate transactions in Bitcoin. If you get the amount of currency is very high, then you must prepare a power of attorney or distribute your Bitcoin currency to family members.
This is a silly question. If you die, your wallet will remain in the network forever. You end up giving back the backup documents to the person you trust most, so that your wealth can be passed on to him.
it seems that what will happen with the cryptocurrency you have when you die is probably the cryptocurrency you have will be a treasure which means no one can take the bitcoin you have because access is only for you who know.
if your relatives know that you are investing in a crypto currency, take care in advance to give them access to your wallet, otherwise your crypt will simply sink into the abyss after your death.
Need to leave a will, otherwise the wallet will be lost,Because Bitcoin's price at the time of arrival will definitely reach an incredible price.
So these preparations must be done well.
If you die, i think no one couldever happen to to pick it up. Unless youve already told your private key to some one or to your family members that treasure your crypto . I think there should at keast one of your family know your personal things so that if there is happening for you, there is some ine who can help.
If you die that will happen to the cryptocurrency you have also no one will be able to pick it up. Unless you've already told your private key to someone closest to you so your treasure in crypto can be used for your family. At least there is one person who knows about your personal things.
Death is inevitable. We cannot do anything about it. Maybe have someone you trust and know about cryptoworld knows about what and whom you want to give it when you die. Make a backup copy somewhere else. Maybe do your last will and testaments already. Backup even hard or softcopy is a big help in cases like this.
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.
Your crypto will be yours only cause no one can transfer your assets without private key or access to your wallet so if you share with any of your close one they can save that. 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.
The death of a cripto purse user would do the amount of bitcoin assets reduced from the large amount, because bitcoins are created with finite numbers.
So without inheriting the key of your wallet then your assets disappear / can not be taken by others, therefore avoid the causes that make his password forget, there are good love people know key to people you trust, like family.
So without inheriting the key of your wallet then your assets disappear / can not be taken by others, therefore avoid the causes that make his password forget, there are good love people know key to people you trust, like family.
Because you are your own bank then you have to put in a provision that in the event of any of the above ,then you have a way to recover your funds.
Death - if is a significant amount then you can always make a back up with a will and a solicitor will execute your wishes .
Fire - keep a back up some other place than your house
Loss - again you can make backups
Death - if is a significant amount then you can always make a back up with a will and a solicitor will execute your wishes .
Fire - keep a back up some other place than your house
Loss - again you can make backups
I agree with this opinion, if you do have a large amount of value in the world crypto, you should make a backup, and keep it all in a safe place, better if you have a lawyer and you just set it all as you wish if one day things you do not want to happen, like death may be, so your lawyer will then give you all your account data to who is entitled to receive it, just like your family.
this is just my opinion
hacking is also a problem that can happen and we will lose access because of hackers.
I do not find the safest way except by using a hard wallet like ledger, ledger offers excellent security to us. double lock and privacy key are stored very well.
my wife already knows all my crypto account and password, so I do not worry where my crypto should go after death.
I do not find the safest way except by using a hard wallet like ledger, ledger offers excellent security to us. double lock and privacy key are stored very well.
my wife already knows all my crypto account and password, so I do not worry where my crypto should go after death.
But I think cryptocurrency so far has dome well you ensure everyone takes care of their funds themselves in all realms. Keep your wallet details safe and pass it on to your family members or offspring so they can have access to it if death occurs anytime sooner or later. The problem with cryptocurrency is very fast, the world so I think it in this era of the future, tell you have to be one. The best for you have To say, and other information that they belong in your savings and other information. Or it can be hold. What happens when you die the tokens in the unfortunate event of death you could wroght down a will with instructions.
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