Topic: Willing my bitcoin to my children (Read 335 times)

Actually there is no problem when we want to leave or invest in our children's future. As long as we understand all the risks of the investment. Regarding investing in Bitcoin for children later, this is also actually a good idea. As long as we can really prepare for it, want to consider who will handle the investment, at what age will the children be told and taught. Because it's impossible if we don't teach our children about Bitcoin, because we don't know what will happen. But here, we also have to consider the security of our wallet, in terms of access or storage.

However, wait for your kids to be mature enough before you will start teaching them about bitcoin and expose them as to what kind of investment you are into. For now, you can teach your wife first so she’ll be aware also on how to trace your investment if ever you suddenly lost your breath unfortunately. I guess that will not worry you anymore because your wife will be the one to teach your kids in the future when you are not around anymore.

Basically, knowing some of the fundamentals of bitcoin is very necessary. So as to have idea how it works. So, you can teach your children how bitcoin is and how it works. For the Start to arouse their interest, you just give them the basic tips about bitcoin do not force it on them and watch how they pick interest in it. They would become curious to know more about it and at that point in time, you can put them  through the process of knowing more about bitcoin but should not let them know you have that as a will for them otherwise they would act smart on you if your kids are the type that she's too curious to get down to every details as they want.

I believe after they must have been knowledgeable enough about bitcoin and be able to control themselves enough if they get to know about the will then you will be able to let them know but do not tell them where it is kept.

Many suggestions say that you should teach your kids about bitcoin. I also agree with this idea. Someone else who knows these keys can always be a problem, so it may be best to teach this system to your kids when the time comes. If the time has not come or it is too early, you should leave some of your investments as money in the bank.

It's hard to trust your inheritance with any person or companies that would hand over your inheritance to your kid, I think it's a very risky move to make.
Firstly there is no third party you approach a company who are into Bitcoin inheritance and give them your private key to your Bitcoin with hopes they would give it to your kid after death.

Firstly how can you trust their credibility, also what are the chances they would keep your private keys safe, to me that's a very risky move to make never trust anyone with your private key.

In situation like this then i would usually be having that kind of will which it would be including that some sort of USB or falshdrive containing all of those private keys. Of course its a bit risky in putting up some safeboxes
or would be deposited something like this and on the time comes that you've died then this is the time that they would be able to access those things but of course you should really be letting them know
on whats Bitcoin or crypto is all about so that they would really be having  the idea on how to access it and make some conversions if ever they do want to have some money.
If you do trust up your child then you could also let them know about those phrases or have access but actually it is  really that hard to entrust out when we are still alive.
We dont know on when those coins would be accessed out without your permission which as long someone does know the keys of such wallet then it could really be accessed anytime.

If the amount of bitcoin you have is significant enough you want to inherit it to your kids then you need to teach them about it, now I know you do not want to force them if they are interested on it and that is fine for a great deal of topics, but when it comes to something this important you really need to teach them, after all how many kids do not like the idea of eating vegetables and yet the adults insist on it because it is for their own good? I see this in the same way, so teach them how to recover your coins and get rid of those nightmares which keep you awake at night.

Some people still have the wrong mindset about bitcoin, including Onyeeze.
Bitcoin cannot be inherited without a seed or Private Key. Your child only needs to have one of the two files/ both in case you are gone for any reason.

You just have to store it safely somewhere and inherit it from now on in some of the recommended method. There are many people and companies in the real world who can be trusted when it comes to inheritance, so you may consider that suggestion for your inheritance plan for children including passing on your Private Key and Seed to them.

Your children can inherit your bitcoin if you make good planning now you are alive by putting down necessary information that will be needed in the future in a safe that they can get it without being tampered with just as the money that is in the bank. Everything depends on your planning,  
same with the morning in the bank if you don't make good planning of inheritance and if you are no more your children won't have access to the money.  Your children can inherit anything you want them to inherit if you plan things that will make it easy to get access of it. Everything is planning and doing it in a right way.

if you die without giving your children your wallet address which is part of your property for them to use to sustain themselves on earth to keep praying for you for Allah to grant you peace. BTC is a good thing will need to impact to our children so that when they grow up to experience the favourable side of BTC they will have every reason to be thanking their father or mother.You don't need to force them to learn BTC at their age now, but start taking them out for flexing and remind them that you are using BTC to finance the outing so that it will make them to be serious to learn BTC so that when you are no longer alive they will keep growing in wealth.

Bitcoin investment is not having any disadvantage, when it comes to death, just depending on the way you plan yourself. If you properly plan yourself then your bitcoin won't waste even after your death, but if you don't plan yourself well, then your bitcoin might be in your wallet forever. Even if you are having just one wallet and you are having 3 children, the bitcoin can easily be shared among them, just make sure you private key is in your WILL and after your death, the amount of bitcoin you are having can be divided by the amount of children you are having, and each children will create new wallet which they will use to receive their bitcoin.

It's very easy to give details about bitcoin to your children if they are not of enough age to understand so just wait and after few years teach them they will surely understand the thing because people easily pick the things which is in his favor and which give him advantages.

But I will suggest that never share this idea with your family members or any other relatives because there are large number of individuals who just think about themselves so if mistakenly you share the passwords of these three wallets then it is not hard to collect all the information related to the bitcoin.

Hacking of wallet and to stole a password is not a big deal these days so be careful with your own assets and try to save the whole details with your family only.

If you are willing to give your children your Bitcoin after death it's best to give them details about the wallet now, if you trust your children now and think they deserve your Bitcoin after your death then I think you shouldn't hide it away from them now.

It's true that right now there isn't much plans in place to pass down ones Bitcoin to the next of kin Incase of death, but I believe there are few plans prepared for this type of situation, but there is a time lock plans that would help you

It is the time to invest in Bitcoin for your children. It's important to choose a platform that's easy to use and secure. Before investing in Bitcoin you must thoroughly educate your child about the Bitcoin. They must know the basics of cryptocurrency market and know how to secure the wallet. Bitcoin is good for long term investment and you can gain huge profit.

It’s your Bitcoins and you can do whatever you want with them. I don’t see any solid point to share this context here. I mean are you asking about your decision? Or are you here explaining us the process that you gonna follow in order to do the activity that you have mentioned in the OP? There is no point of storing the Bitcoins in two separate wallets and passing the private keys to the children. Instead you can directly send the coins to them and without any taxes or major fees. But yes now the world has advanced so much that, I am hearing cases like this where digital assets are also inherited. Good luck OP.

Bitcoin willing to your children is not a bad idea but then it becomes an issue if your children do not know anything about Bitcoin and how it works. So the willing of Bitcoin to your children will only make sense if you put them through and bring them to the knowledge of Bitcoin so that in ur absence they will see the need to uphold the investment

😆 You acted like a typical Nigerian there and our way of running away from telling ourselves about death. What is someone mistakenly dying 😆.

This is a big issue with cryptocurrency and I know a lot of this scenario has occured with many hodlers, even in this forum, with those who died intestate. I've heard some make laughable comments as to how they will make sure they reveal their crypto hidings to their loved ones or next of kins before they die as if anyone knows what date they will die. Those who loud the need for privacy are the worse hit on this because they hardly trust anyone with their crypto stuff and wouldn't want to divulge any. It's important to have our crypto hodlings documented somehow so they can be discovered when we pass on.

This thread reminds me of a post I read months ago, where we were arguing if it's okay to share your private key, phrase, and wallet access with anyone other than you. This kind of thinking is actually the reason why people have rethought how to store and safeguard their bitcoin. But to me, this is actually nothing to worry about. The same way you can open up a fixed deposit account in the banking sector and set them up for your children, the same way you can actually secure your children's Bitcoin investment for them until they are all ready for you to hand it over to them.

All you need to do is either create a separate wallet for each of them to avoid complications and sharing issues. Those wallets can be funded just like you said you already have some Bitcoin holdings. If you choose to use a hardware wallet, you can actually protect and safe guard the wallet together with each of your child's important documents and materials, maybe their birth certificate, school certificate, etc. If it's a hardware wallet, you can use a secure password that you can only give to the owner of that exact wallet and let each of them know what's inside. That's just one simple way among many that you can use to avoid a total loss of funds if you are not there to hand it over to them yourself.


The advancement of technology I don't think anyone actually needs to learn more things or show more serious interest in Bitcoin before they can be able to use it; all you need to do is teach them the basics, how to secure the wallet, and how to send out. That's all; those are things they can actually do themselves in a matter of minutes without anyone teaching them.

In my opinion, the problem is not that children are taught Bitcoin, but that they are too young to take responsibility and may cause your fortune to be lost if they acquire it before they reach the stage of youth or manhood.

If your children manage to get the keys to your wallet, they may act wrong and cause their money to be lost, so in my opinion it is better to keep the private key with a trusted person (the children’s mother or uncle, for example) and when they grow up, they are taught Bitcoin and handed over their own keys.

Or you can use bitcoin timelock transaction :
https://bitcointalksearch.org/topic/m.24712001

Transferring Bitcoin to your kids as an inheritance is not the problem, the problem is how sure are you that your children will see Bitcoin as a valuable inheritance unless and until their thought of the value of Bitcoin even though Bitcoin does not have a physical representation.

Some kids will value assets like real estate or a company as sustainable assets to inherit since society is wired to reason that way,  and if you want the pass your bitcoins to your kids it is quite simple if they have the motivation built in them.


So you as the father who is involved in Bitcoin have the responsibility to teach them everything they need to know about wallet and wallet securities how to recover them and so on.  


Store the private keys to the wallet holding the Bitcoin somewhere safe and accessible in your absence and the only time they can have access to the wallet key is when you are no longer alive,  that way,  you pass the inheritance without incurring any liabilities in form of bills and feel in any form.