Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
I'm a living witness of such a frustrating scenario. Early this year I misplaced the passphrase to my Trust Wallet. I didn't know that I didn't have the passphrase again (can't really explain how I lost it till today) until my phone packed up and I needed to reinstal it. I reinstalled it but couldn't log in again. I searched for my seedphrase but couldn't find it, even till date. I see the cryptos I have there whenever I check my address on bsc explorer. But of what use is it if I can see my assets but can't withdraw it. Though I know the case at hand is slightly different from what I passed through; of one not revealing one's passphrase to anyone before their untimely death, both events meet at the same junction of the owner or anyone not being able to assess what is in that wallet. I'm like the biblical Moses, seeing the assets in my wallet but can't withdraw anything. 
Topic: Who else has your passphrase (Read 370 times)
Well, I'm still bent on keeping my keys in myself. Not because accidents or calamities will notify me before anything but, I just have a sense of hope and belive that nothing is going to happen anytime soon. Haven't really thought of it but then, my keys are silently stored away while, I plan a way, the best way of putting it out in the event of a disaster.
There is no way my coin would be lost, its a possibility but, one that I'm not going to let happen. It must be passed on maybe in a while of certain directives or maybe in a puzzle that could be accessed for clues when I'm no more or maybe too aged to really go about my crypto investments then, I would put it out along with other directives.
There is no way my coin would be lost, its a possibility but, one that I'm not going to let happen. It must be passed on maybe in a while of certain directives or maybe in a puzzle that could be accessed for clues when I'm no more or maybe too aged to really go about my crypto investments then, I would put it out along with other directives.
If you die now or die tomorrow trust your family will not have access to your seed phrase or wallet because we all are so secretive not letting anybody know that we have a coin in our wallet that be a source of income. Some of us hide this to escape family members asking us for unnecessary money ww will not like to give.
If you disclose your seed phrase to your family, they can terminate you and do away with the funds making it a risky thought.
If you disclose your seed phrase to your family, they can terminate you and do away with the funds making it a risky thought.
~
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
Right now the one who knows seed phrases/private keys of my wallet is just myself. I had written everything in an ordinary note but did not have a plan to inherit it to the people around me yet, maybe someday I would give clues on how to use it to them if the time has come. Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
I once thought about this same question because lots of people are dead now and they are having coins in their wallet but since they are dead the coin in the wallet is completely useless because nobody knows about their private key which is very bad, I believe if you are creating a wallet you should always back it up in your diary which even after your death your family will definitely check your dairy and they will see your private key and they can make use of it instead of your coin to be useless in your wallet.
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
I myself, I'm planning to give all of my seed phrases to my partner, so if ever something happened to me, it can be used.
No one wishes for calamity nor is any wishing to die young but we leave in world where death could come at any point. What will happen to your portfolios the numerous coins in your wallet. The XRPs, the doge, the Shiba Inu and the noble Bitcoin in that wallet will it go into the network without accessibility.
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
Right now, only I know the passphrase of my wallets. In case that I might leave this world, I'll gonna note everything even the steps on how to access my wallets if ever they found that note so my assets can still be used by them. Of course, it will be gonna a waste of time and effort if no one will get my money so better ready a note that probably gonna help them to access those wallets and of course, it should be given to your family only or people that you trust. Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
The title should be "Who else has your seed phrase?"
No one can access your fund with your passphrase.
In the case you are talking about the series of words used for recovering a wallet, that's called seed phrase (or mnemonic phrase), not passphrase.
If you have added a passphrase to your seed phrase, then you need both seed phrase and the passphrase.
No one can access your fund with your passphrase.
In the case you are talking about the series of words used for recovering a wallet, that's called seed phrase (or mnemonic phrase), not passphrase.
If you have added a passphrase to your seed phrase, then you need both seed phrase and the passphrase.
This is what I have been thinking nowadays in case something happens bad to me in an instant like an accident. Ain’t gonna invest in a safe box lol. I would rather give them some clues for them to inherit my seed phrases, private keys, etc., for non-custodial wallets.
Your family would benefit from your investments if it's a success investment if wvwr something bad happens to you. I think for custodial wallet is that your family can claim funds by providing personal details that they are your family if I remember correctly. This has been discussed on Bitcoin discussion board. There is a medium link about a solution if ever something bad happen. This was found by mk4 https://medium.com/@pamelawjd/letter-to-loved-ones-a-template-for-your-crypto-estate-planning-4ee0975434e4.
Death is inevitable. it will come for all man. remember to spend time with friends and family. and also learn how to share some of your financial details with your family. incase you are gone. they might find it very easy to give you a grand finale. 
. Also remember to talk to your creator and never act like the rich fool in the bible. it is a good ting to reflect on that one day, we will all die.
. Also remember to talk to your creator and never act like the rich fool in the bible. it is a good ting to reflect on that one day, we will all die. No one has my phrase but I do have backup of my wallet which I've stored it and my family can access it after gathering certain information to open my wallet. More like a treasure hunting, your family member will only know your wallet once you told them that you gave hidden wallet info or leave a clue for them to discover. Before that will happen, first thing is that you should teach them about crypto.
This is what I have been thinking nowadays in case something happens bad to me in an instant like an accident. Ain’t gonna invest in a safe box lol. I would rather give them some clues for them to inherit my seed phrases, private keys, etc., for non-custodial wallets.
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
At the very least, I have to tell the people who are closest to me and who have always loved me, from passwords to withdrawals, as well as the exchange sites I own, it should be done, there is nothing to hide from someone who always loves us in this life.Of course what you say is true, everyone will experience death, someone should probably know what we keep or we have.
Crypto is also an asset in the form of digital money, almost the same as the paper money we have, gold, money in the bank that we tell our families, crypto, why not, don't you think so.
No one has my phrase but I do have backup of my wallet which I've stored it and my family can access it after gathering certain information to open my wallet. More like a treasure hunting, your family member will only know your wallet once you told them that you gave hidden wallet info or leave a clue for them to discover. Before that will happen, first thing is that you should teach them about crypto.
I think this topic has treated here in different ways, shall any ways, any question deserve an opinion or an answer, your point is what really make us human being on Earth, it's obvious that passphrase or password of anyone using bitcoin is is very important and is the highest key for security purposes, actually someone can die anyday and any hour without anybody having access to penetrate into his wallet due to the passphrase is not review to anyone, so the investment can be of waste without the passphrase to penetrate, so its very encouraging that any wallet password should be written down as a proper document or in forms of landed properties documents should in case of death and siblings or wife or husband can have access to the wallet, because it's very clear that death is unpredictable and unsecured.
The XRPs, the doge, the Shiba Inu
Bold of you to assume I hold those shitcoins
Imagine after gathering all the coins you can afford to gather and no one can access your wallet should in case something terrible occurs will the investment still worth all the time and effort devoted to acquire them?
Maybe my relatives will be able to access my crypto exchange accounts since I did KYC there and in the future there might be laws that will help with accessing such accounts in these cases, just like relatives can claim bank accounts in case of death. Right now the amount held in exchanges in really small, but who knows how much it will be in the future.
As for wallets, right now I store my seeds without any encryption, so if they go through my stuff and don't screw up the recovery process by installing a fake wallet, they might be able to claim all my coins.
You don't have to give them your passphrase/seed/private keys. You only need to make them learn some stuff, like how Bitcoin wallets work etc; you should just sign a transaction which spends all of your money (you want to inherit) to a freshly generated address which will be owned by your family/loved one.
Just make it spendable after a certain block and ta-da! Trustless inheritance.
Thats a bit technical I think, but the idea is great and cool. Im thinking also the situation on how could I let my family knew how to recover my asset in anycase something happened to me. I know its a bad thing to assume that something like thay could happened but in any case I like some suggestion I read now it gives me such clues what should I do. Just make it spendable after a certain block and ta-da! Trustless inheritance.
You don't have to give them your passphrase/seed/private keys. You only need to make them learn some stuff, like how Bitcoin wallets work etc; you should just sign a transaction which spends all of your money (you want to inherit) to a freshly generated address which will be owned by your family/loved one.
Just make it spendable after a certain block and ta-da! Trustless inheritance.
Just make it spendable after a certain block and ta-da! Trustless inheritance.
What is important for me personally is that no one has access to my seed/private keys as long as I am alive and aware of the things around me, because in that way I prevent any risk that someone will use it and steal everything I have. Let’s put aside family ties and mutual trust, when it comes to big money most people have a completely blurred judgment and do things they wouldn’t otherwise do.
And what about people who have no one close to them, or are they surrounded by people who do not deserve any inheritance? In that case, it is better to take the secret to the grave than for some people to enjoy something they did not deserve - because who else loves leeches and parasites who do nothing in life and take advantage of others?
And what about people who have no one close to them, or are they surrounded by people who do not deserve any inheritance? In that case, it is better to take the secret to the grave than for some people to enjoy something they did not deserve - because who else loves leeches and parasites who do nothing in life and take advantage of others?
I have already gave instructions to my parents in such gloomy case.
I believe the important thing it is to store the seed where your relatives can find it and be sure they won't fall for a random scammer on the internet telling them:
1 Am s0rrY for Ur l0ss, Sir. AlSo 1'm a PaRt Of BiTcOiN TeCh SuPPoRt 1 cAn HelP If u giMME thE SeeDs sir.
One needs to be clear that the seed it is literally the money and whoever has the seed have the control.
I believe the important thing it is to store the seed where your relatives can find it and be sure they won't fall for a random scammer on the internet telling them:
1 Am s0rrY for Ur l0ss, Sir. AlSo 1'm a PaRt Of BiTcOiN TeCh SuPPoRt 1 cAn HelP If u giMME thE SeeDs sir.
One needs to be clear that the seed it is literally the money and whoever has the seed have the control.
Thus, you need someone you really trust to be able to access your personal wallet when something unexpected happens.
If the assets that you keep have a large enough value, then you need to make a good plan to give inheritance rights or access to someone.
Store in a secure private wallet that is not connected to the internet. Do not store all assets in third party exchanges, because you do not have full control.
Make sure again that you have the correct private key and it is stored in the most secure place and can be accessed by you and the people you trust, don't let it be lost or known to the public.
Actually, questions like this have often been discussed, you can see them by searching in the search feature.
If the assets that you keep have a large enough value, then you need to make a good plan to give inheritance rights or access to someone.
Store in a secure private wallet that is not connected to the internet. Do not store all assets in third party exchanges, because you do not have full control.
Make sure again that you have the correct private key and it is stored in the most secure place and can be accessed by you and the people you trust, don't let it be lost or known to the public.
Actually, questions like this have often been discussed, you can see them by searching in the search feature.
Jump to: