Bitcoin Forum

I want to ask all of you, do you share or give very private things (private key, passphrase, password and else) of Bitcoin to your family? I ask like this because I think if something bad happens to us (I personally hope it doesn't happen), it would be better if we pass down all the things from bitcoin that we have to our families. For example, when we have an accident that makes us comatose state (I hope it won't happen) at the hospital and we need medical expenses, it would be better if our wife or children can take money from the bitcoin that we have to use as our medical expenses.

I personally bequeath all my bitcoin knowledge to my family. I told them my bitcoin assets, how I made money from bitcoin, and also told them how to access them. All of this I did so that all of my bitcoin assets could be useful for my family. What about you guys, do you guys do the same with me?

Crypto assets should be treated like other valuable assets, someone people give their family members the details of every assets they own and how to access them e.g bank accounts and some write them down in wills to be given to their family members when they die and some die/stay in a coma without anyone being able to access their assets, i think that's how it is for crypto assets too.

It is a good move to delegate someone you trust most e.g. family members, to have access to your digital assets as a contingency plan once something bad happens to us! Just put your sensitive files and keys to a reliable password manager and hand over the password to your trustee and set the conditions forth on accessing it.

I once thought about that, because my life is not healthy. I once thought what if suddenly I die in front of the computer then no one knew I had crypto assets to support them and their lives. and i think this is will be a reminder for me to tell them more about crypto include private key how they can access it.

Simply giving people a private key is not enough, there's a big chance they will lose those coins if they install a malicious wallet, or their computer has malware, or they will fall for exchange phishing. You need to provide very clear instructions how to safely convert those coins to fiat.

If you don't fully trust your family, you can also check some deadman's switch schemes that are discussed on this forum. For example, here: https://bitcointalk.org/index.php?topic=5180850

Very pity on your situation. It is always a good choice to share these with family. I have made a separate file for this, further I need to add the step by step procedure to access the wallet. This will make it an easy to use, and I never inform them. Let them find it if something happens with the uncertain life.

If you're doxxable, I'd keep mum about any of such arrangements you may have with your family, otherwise you're painting a target on their backs (that goes for all topics asking users to divulge unnecessary information about themselves). Also, can you trust your family members to follow long, even if explicit instructions to manage/sell their newly acquired inheritance?

My family know where I put my password and passphrase but they do not open it. I also teach my sister how it works so they can also earn bitcoin and other crypto. They didnt try to open it because they know I will get angry with them. But, I always tell to them that if you want to open just ask me because I will give my permission to open it.

I have the same thoughts as you
the plan is that I will write all my email / username / password on a piece of paper and store it in a safe place, and tell my family how to access it ... And also makes  paper wallet and keeping it in a safe place

I did that. And everyone certainly should, because we need to think about our kids in the future. And in 10-20years our 0.0001 btc could be worth a lot of money.

The thing is, if you don't 100% trust someone, or if you would like to be more protect from a possible thief that could rob your house, you could split your keys.

For example, give your Seed to a relative and the passphrase to another.
Or if you wish you can give 12 word to one person and the other 12 to another.

There are many ways to do it, but you certainly should.

My wife is my best friend and my most trusted ally. So she knows everything about my investment and I intend to teach her about building upon bitcoin investment and how it all works, this I will do when her phone is replaced. Only the meticulous family member should be made known our private keys and password.

I am not giving any of these private information to anyone, not even to any of my family members. I guess you are right though that we have to be somehow prepared for the unknown but I don't personally think about it that much. If something bad happens to me, God forbid, then perhaps they will have to find ways to get access to my laptop and phones which are complete with security features. They know that I am into crypto and some little treasure is right inside these gadgets of mine.

Right now, I'm the only one who knows and keep the private key, password, and phrase word were all of it was stored at my USB.
But I am planning to share and tell it to my fiancee, because if I am going to tell it my own relatives they won't get any interest to know it.
So far, I am teaching my girlfriend little by little about what I'm doing here in crypto, from converting my altcoins to fiat, and keeping it where
it stored, so that whatever happen to me all of my assets in crypto will be useful at least.

Me personally, I don't really see cryptocurency or Bitcoin as an asset but as digital cash for making business transactions online. In as much that I don't see it as an asset, I have saved the necessary information regarding  my private keys and passwords  on a flash drive and written them down in my small notepad which will make it easier for my family to have access to all my crypto wallet. I did this just in case something happens to me, my family can easily have access to all my crypto coins and will be able to cash them out.

I put my private key in the safest place of my computer, sometimes I write it in my book and I keep it safe, no one can know what I write in it. As for relatives, I do not share, I trust them but I am afraid that they will accidentally reveal my information.

FYI if this computer is ever connected to the Internet, your private key isn't safe, and you're risking that someone may one day spend your bitcoins.

it is called "private" key for a reason, it should remain private. if you share it with others then it is no longer secure, not because they may access the funds but because they may leak it if they are not careful. i personally prefer hard copies on a piece of paper, that way you can only physically access them and you will remain in possession. then if something happened to you, your next of kin can go through your belongings and find it. you could also add instructions to what bitcoin is and how they could access the funds.

I do the same thing, I produce a  printout of my private keys and keep it together with my important documents.  I also have  a back up of those keys on a USB disk.  I trust my parents and of course they are old enough to keep confidential matters so I told them how important those stuff and how it holds my important cryptocurrency holdings.  

It good to share some secret with one's family but I don't share my private keys, passphrase, password etc with my wife because of the vulnerability which may involve. However, she understands that I have my private information stored in a secure flash which I believe she can figure to be in case something happens.

I don't share everything about bitcoin or cryptocurrency directly, but I already prepare one box that I will give to them before I died. That box contains everything I know about cryptocurrency with a ledger inside that box. I left a letter to them just in case if they want to know how to use that thing inside the box. But I always tell them about cryptocurrency, and I want them to try by themselves, and someday if I almost died, I will tell the details to them. I hope that they can use what I have for their life so they can make a better life than what I got now.

No, i never shared that kind of information to my family but i have a file in my flashdisk and there are so many information about private key, passphrase, password and else inside. I don't share it to my family because most of my family don't know what is crypto and how it works, but i told my family if something bad happens, go look into my flashdisk.

To be honest, I didn't share my private things with my family. Fact isn't about trust, fact is I don't have enough time to explain and train whole bitcoin system since I am working on abroad. But I have a notebook and I have noted all personal details with websites. All password, private keys and phrases write down there. So if in case happen any accident all funds would be recover easily. And yes, I have write a name where should be send my notebook if happen anything. I trust a guy who is familiar with all things. Hope very soon I will able to explain my family as well so they could recover themselves. But sure, I will not share personal thing and it will remain on notebook.

We're almost the same but I shared only in my wife, she knows everything I have and I don't have a plan to keep any secret to her. I saved all my assets details of a flash drive and I put also a password on it. My wife knows where I kept and she knows also how valuable that thing. I do that because we never know in the futures happen, there's possible that we can't avoid and that is sudden death. All your crypto asset will be lost if you did not tell anyone that close to you.

I would share my private things like private key to my parents. Eventhough they didn't know how to use it and how it works. I'm sure they will find a way to use it. So no matter what will happen to me. My family will benefit from my cryptocurrency asset.

I never saw this as a problem. After all, if you trust your family with your fiat money, why is it so difficult to do the same with crypto? It is just a currency, not a state secret. So yeah, I believe in sharing. Better than for something to happen and that money ends up locked up forever, useless to everyone.

Im sure everyone thinks about it and secure their keys and only tell people who they trust where and what is, most of us here our relatives are not interested with what we are doing but at least give them knowledge on what do to when something bad happens to us.

Hmm.. you've just gave me something to think about. Nobody in my family knows how to access my crypto holdings and if anything happens to me, God forbid, there is a chance the crypto will just be forgotten. On the other part you need to have full trust in them to not lose/burn/destroy your private keys lol depending on their take on cryptocurrencies  :D

yes i do that . i use a local wallet and it needs a 4 digit pin to open  .

 i share those 4 digit pin to my wife so that she can access my wallet not because for preparation that if something bad happens ( hopefuly not ) but because i just love to share my own stuffs even the private ones to my wife  .

i dont feel contented if i keep my own stuff a secret to my family members  . aside from that  , i also make a seprate wallet for my wife and then i send her some coins   .

@nankers yes I have already done something similar, I have kept all my bitcoin related details locked away in a vault which will only be accessible to my family when I’m gone. The reason I didn’t wish to give them such sensitive details now is because, I didn’t wish them to panic each time Bitcoin prices crash.

 
@ChrisPop your concerns are valid, but I’m sure you’ll be able to find at least one person in your family whom you can trust with such details.

I have been thinking about this... crypto are assets and should be treated as such... if something happens to me, I would like to know that the crypto I own is usefull to my wife and children, even if it is not worth a lot, it is always something...
But it is not easy because my children are very young and my wife is not prone to crypto... I'll have everything written down I think...

My family are not interested in bitcoins. Even if i tell them they have their own opinions on it , some say it is illegal and i should stop using it asap.
I never tried to give them the private keys as they are hostile to bitcoins. But i always try my best to be lawyer to advocate bitcoins to them whenever i get the opportunity.

OP has a valid point here, there are so many stories of people with crypto investments dying abruptly and taking all their investments to the grave and i  believe such investment would prove very beneficial to their families in their absence. People should strive to bequeath things that would help their families access their funds should they be dead or incapacitated.

Not to the whole family of course. Perhaps to my closest siblings who also have an idea of what crypto and bitcoin is. Or to my wife. I get the point that it would be a waste if something happens to you and nobody else has access to your crypto assets. A sensible person would look into such circumstances and would always plan ahead.

Yes but not a copy of my private key but the place where I safely hide those wallets and also my wallet or exchanges account .
My Ether wallets are safe on my hard drive and both of my wife and brother knows how to open it or use it .
I think that it is better that way instead of keeping it to yourself and when something happen no one could use it .

I only trusted my privatekey to my wife only and nothing else. Like yours, I told and explain to her how to access my accounts and my bitcoin holdings in any case something happens. But as far as my children? no, they are too young to understand the intricacies of bitcoin and private keys.

There is only one person who knows my details about my engagement on cryptocurrency. the rule is don't give your details to anyone even your relatives can't be trusted when millions of dollars are on the table.

I followed these rules and didn't tell them anything about it except to my friend.
I know him well and I trust him and that's all it matters. as for his details, he trusted me with that. this is the bond between us.

We think the same when it comes a time if one of us will be gone someday the tokens that we are holding cannot be wasted.
and we made an oath to give us to our family since they don't know what we're doing. only one of us can withdraw our tokens and change it to fiat.

When my time comes or hers, all of the altcoins of deceased will be change to fiat and will be given to mine or her family.

I think this is something really important what all the crypto world needs to hear to. After we saw a recent case where CEO of a top exchange died and the BTC was stuck in the wallet and thousands of people lost their money. We need some sort of legacy contract option in BTC or everyone atleast must tell their family members their private keys. Reason is that not only people would lose their money on a global level we are losing that amount of BTC from our total supply as they will be gone out of circulation forever. Thus an already deflationary currency will become more and more expensive in times to come. But another problem here is trust. Trusting your partner or children with all your funds can be a bit dangerous at times too.

People are different, some are generous and think of others, some just the opposite. Personally, I don't think it makes sense to die and take some of your fortunes with you to the grave, especially if there are some nice people in our lives that those assets would mean a lot. It really all depends on who we have besides ourselves, do we have a good and faithful wife or someone who cheats on us at every opportunity? Children walking the right path in life, or alcoholics and drug addicts? Sometimes is better to burn everything then leave it to someone.

In the event that we choose to share our secrets with others, it is important to emphasize the importance of keeping such things private. Imagine sharing with your wife that you have 1 Bitcoin, and she posts it on social networks the next day ::)

The unwanted thing might happen to us, but everything has been set up, we can only strive for the best. We have digital assets and not everyone can know. The good thing is if we give this information to our family. All about the things we do in the crypto world, including telling us about the assets we have.

We all definitely wish the best for us. This I do because of my family that I can trust them to develop my investments. If at any time I die. I hope that all people in this industry can share knowledge about family or people you trust.

I immediately remembered the story of the CEO of the Quadriga CX exchange. When the director died, hundreds of users forever lost their Bitcoins, since only CEO had access.

This is all individual. If you are Scrooge McDuck, you can store your key somewhere in the attic and not tell anyone about it. If you have true friends or family members to the bone, then trust them. Then if an accident happens your money will not be frozen and useless.
For example, I entrusted my private key to my wife and I do not regret it, I am 100% sure of it, but this is only my personal decision, I do not give advice

Since I am not young, I did try that. Just my wife didn't want to hear about it (something like if we talk about what to  do in case of bad things is bad karma).
So right now I don't have a good solution :(. The funds are not that big, so it's not a huge issue and I hope I'll handle it before Bitcoin reaches 250k USD ;)

Yes my wife.

I didnt tell him literally those series of numbers for she wont even memorize it. Even me had not the guts to memorize it.  ;D
I just told her where I left it and what is the password to open it.
Also I left a paper on our secured vault and told here the private keys is also there.

You dont know when an accident will happen so better be prepared.

I have the same sentiments as I also share all the information to my wife and let her know about my private keys. So incase there's accident or emergency where it's needed to withdraw funds, she can deal with it. Though she's not fully aware but I managed to teach her how to do it and make sure that whatever happens, she's going to benefit with everything that I invested and have a life with my kids.

That is necessary and needed just like other investment and properties that we have. Talking about properties, many people don't like to disclose to their wives and relatives. So bitcoin or crypto is not different.
The people that don't have the habit of disclosing will also not find any reason to disclose.
Well, it is important that we let people that have earned their trust with us to know.

Well yes I do. If your family is what you can really calk a family then by all means I would trust them with it. They literally were the ones who fed me while growing up and trusted me enough to grow up into a fine human being so why would I not trust them with money. Its like how they say you cant really bring physical belongings to heaven so might as well leave them to people who can actually use them.

I did. I shared my privatekey and all my crypto access to my brother who also invests in crypto. It's also for emergency if I will need some money and I don't have access on my wallet or accounts and if something bad happens to me. I guess it is best to let someone look after your account and assets for security and emergency cases.

I do the same thing as you, telling the family what I have and I know about bitcoin. as well as you, I'm also vigilant if something happens to me. but not everything I'm telling them, for passwords or privacy keys I keep it hidden. until the time comes, they must find where it is the located.

I think until and unless you don't have any option to leave your keys to someone who would give them to your family after something unfortunate happens to you I think you should always share everything with your family because it is essential to leave them something for the times of need .
I also shared my keys and everything with a very close friend of mine so that he could give them to my family if something happens .

I did this before in the bull run when I actually was making money in crypto and had Bitcoin and other crypto-assets but right now I am tapped out and trying again to grow again somke Bitcoin but at the moment it isn't worth it because I barely have anything of value to give my family. If in the future I have anything to value to bequeath to my Son and other members of my family, then I surely will give key members and next of kin my wallet addies and private keys so they may take what I might have in liquid crypto assets after I am gone. I will try to work if God gives me life for the next two years in this space to try to gather some bags of Bitcoin and other cryptos, if I fail again this time, well there will be nothing left to leave for anyone. Time will tell if I can succeed or not or if I will fail as I did in the past three years.

When you are in the crypto industry please do not believe even your family members. They can easily say that we do not know how that happens. If the wallet hacks also you will feel that other person stolen your funds.
Better you need to keep your funds very safety and do not share to anyone.

I give all my personal info to my mother. The only one I trust with it. I trust my family but I want someone "offsite" to have access to my funds as well. Incase something happens to the house and they are lost.
It is just an extra precaution. I have not taught anyone in my family how to restore a privatekey or use crypto but they are not stupid and will teach themselves. I think my brother will have that handled. So long as they can access my personal info they should be able to use it.

You could leave instructions in a secure place (ie. bank vault) in case of emergencies, and only instruct them to check that in such a situation, but without they actually knowing what it is in there, and certainly not having access to the actual seeds / passwords etc. Because if they do, chances of "mistakes" increase.

Unrelated to your real savings (and secret instructions), teach them how to make and handle their own offline wallets. So they get familiar with the process...

Since you already spilled the beans you probably either have to move those coins and redo it again, or hope no one makes a mistake, because i wouldn't be surprised to see all your savings phished out. Believe me, i saw it happen already, once its gone, its gone. Don't be careless with this.

For some reason it is termed private key. This means it is to be kept private without revealing information with friends and family. There are incidents in which the wallets on the personal computers were provided with remember the private key. This has lead to transact funds from the personal computer by his friend.

We're in a world, where it is hard to trust. But if we haven't shared the private keys with someone else it will go unused if something happens to us. So, we're in a situation to find someone trustworthy.

No, I've never shared such an info with my family and other people

I have never thought about explaining cryptocurrencies in-detail and sharing my private key etc. with my family. I agree with the thought that cryptos should be treated like fiat money in a situation like when something happens to the owner of cryptocurrency.

Sharing the Bitcoin information key with the family, in my opinion, is one thing we should stock, it will help the family to be better and more comfortable for many jobs such as the things we want to leave. For example, if someone has a disease that requires hospitalization, then the family can use their electronic account information to take care of them. hospital fee for that person

I share information about bitcoin to my family, but I don't share the details about private things like OP mention. I think the time is not right to explain to them, but I prepare everything so when the time is right, I will give to them with the details. I want to give my asset to my family because I am very loved them, and I want them to use for their good or continue what I did. I know that it will be too confusing to them, but I believe that they can do as what I say.

Private keys and many more private stuffs that you need to keep personally are made just for you and no matter how close your relatives are to you you cant just give that away or give them access on it.Its still personal things and personal things is outside a relationship no matter of how close that relationship is.

Usually I use a portion of my crypto balance, when I really need it for certain purposes. Even if there is an emergency, I can cut losses to the coins that I hold to Fiat. As long as I don't need debt and can solve the problem. And that is part of the use of crypto for me.

Yups my wife and eldest son has access to my wallets as I have already told them that all my investments here are for their future,though the other one is for my wife and me only because I am saving also for our future as partners when our children’s already have their family’s in future

But yea I shared my keys to them literally

In my part, I personally didn't share any private things even though it has a large amount of money that I have. When the bad things happen on me, I know that my family can make through in that problem. So, if I'm going to survive then that is the right time to pay for all the problem that I have given to my family. Though I'm sharing all the things that I know about bitcoin and yet I will not give the private things in my life.

Sometimes I give some of my private things like private key on my family but not in my friends. I think it right because like what you have said, we don't when emergency happens. So, I think giving private keys and knowledge about bitcoins to your family will help them lessen the load in their backs because of the miscellaneous.

Sharing what we know to our family is good, so if something happens to us, they know what they need to do with our assets like what my sellers said a few years ago. One of his clients has died, and his son and wife came to my sellers and asked how they can access his husband's account in the exchange because before his husband died, he gives a letter with full information about what he did. Then my sellers guide them to access and moves all of his assets into bitcoin and sell into my sellers. They don't sell all of his bitcoin but only some amount, but still, that amount is too big to imagine.

From that case, I think we can do that just in case we already told our family to continue what we did, and they can do our assets for their good. But we need to choose the family member whom we can trust so they can use our assets with good.

all of us would do the same because bitcoin/cryptos are not good to be wasted inside your wallet most especially if you own a large quantity of them   .  like op i also teach my mom and dad as well as my bro and sis about crypto stuff but i only provide my pkeys and phrases on my mom  . i said that i have cryptos on my wallet that he can convert or withdrew  if ever something unlikely will happen  .  the rest of family members , i can still share some of my cryptos from them  .

Im also thinking about this scenario. What if something happen to me one day then im the only one who knows everything about my crypto assets and all the private keys? This question keep on popping up to my mind before. So I decided to share everything to my husband (though he is not really good in computer matter) since he is the only one whom I can trust and its for the welfare of our kids.

I think it depends on you, if you want to keep things private then dont share it to others. But if you're thinking of what if something might happen to you and you want someone to know about your assets then think about whats best.

I'm glad my intentions and goals were delivered to all of you. I think for those who have not left all the important things about your bitcoin (private key, passphrase, password and including how to access your bitcoin assets), I suggest doing that. because it will be in vain if we only collect bitcoin but in the future, bitcoin that we have collected cannot be used at least for our own families

I left some private keys for my younger brother and sister for them to use but I can't see any interest in them about cryptocurrency in them so I disregarded the idea of passing my cryptocurrency stuffs to them but instead entrusted them to my long-time girlfriend who is willing to learn and go into bitcoin industry.It's not mandatory for us to share such information with our family if you see them having no interest in it.

It is very difficult to talk about bitcoin so freely because there are no laws in my country that can protect me... that's why I avoid talking about bitcoin and consistently withdraw my bitcoins and keep it in my fiat bank account.


You're right, but at least try to convert your coins to fiat and save it to your bank account. bitcoin was made to be used in the real world and not to be kept in the wallet for years as most people think ... think:

What is the point of having bitcoin and Hold for many years and you die without using your coins?


and are you legally married? how long have you been together?


And how the hell your family will find a way to access you laptop and phone? not to mention that they won't know that you have hidden coins


Have you ever used your coins for your family? people just believe in the things they can see and touch and benefit them

Maybe I will think the same as what you say for this, but you don't have to say it fully, because, if you tell your family fully, I worry that what is said will be the carelessness of our wife and children, because in my opinion someone has the nature and different characters even though they have become part of the family.

explaining that you must clearly teach Bitcoin to your family about how to get BTC, sell BTC and important things about BTC so they understand and don't take the wrong action.

I think even though there are emergency instances, I would not going to prefer to choose to provide the information pertaining to my assets of cryptocurrency. The only person that will going to provide you, your security is yourself. If we are about to provide them vital information about our assets, it can be used against us. Like for example, our relatives are vulnerable to blackmailing, and other illegal crimes.

That's very interesting idea. I have the same problem. My whole crypto-stuff can't be passed down if I died now.
I must do something about that.

Thnx for bringing that up.

My parents don't know much about Bitcoin. They have some theoretical knowledge about how it works but they never performed single transaction. Nor does my wife and children have any knowledge and they also don't wanna learn.  :D Only person whom I can trust with these details is my sister.
Therefore, I have already set-up an email containing my all cryptocurrencies passwords, private keys and not only that even location of my other assets. This email will automatically deliver to my sister after 30 days if I don't confirm that I am alive. Legacy email scheduling is very necessary in today's world of technology. There are many services available out there like after.me but I don't trust them with my info so I created one for myself in PHP.

Personally, I don't think is advisable for me to share my private keys with my family.  What if you share them with your family and one of them decides to be smart and empty all your wallet? I will rather store them on a usb drive and  add a video with an instruction on how to have access to my funds.

To be honest, I haven't think of that scemario but regarding with that, I am always open with them. It's fine with me to share my private key since I know I can trust them. But the thing is, will they take it seriously if I told them I want to share to them such info cause unexpected situations might happened. They know what I am into... They know what I'm doing but my mother might just get mad if I told her such reason.

No, I don't. My family has no idea what is bitcoin and cryptocurrency, and I don't have enough patience to teach them. But I have a person in my life who shares my passwords and assets. It's enough for me. And if to speak about emergencies or some accidents that could happen, I have some savings in my bank account. I don't see the point to keep for emergencies crypto with totally unstable prices.

hell no, none of my family or friends  i will be given my private key. but you are mentioning if something strange happen . well in that case you should told them where your important keys can be seen so if that happen they know where it is. but it doesnt mean you will give your private key .

I wouldn't mind sharing my private keys and other important stuffs with someone who i truly trust. In fact, the person I trust deeply has access to my laptop and knows at least the basic stuffs one needs to know about bitcoin and blockchain. So yeah, I guess I already did the right thing?
Anyways, just giving them access to your wallet won't help. They should know how to keep it safe, how to use it and how to exchange those coins. Those who are saying "let them figure out", what if after figuring out they F up things?

I heard too much stories about mostly gamers sharing their game account and very often loosing them in the end because of that.
Why risk? You can barely trust yourself and its impossible to get into someone else head to know them 100%. You don't know yourself 100% even. Computer psecurity, Bitcoin security need to resolve that issue.

LOL  ;D May i ask you something, how to access your wallet without giving someone a private key or password? give your smartphone to someone you trust and tell her to take money from a Bitcoin ATM or is there something easier, can you tell me?

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I am agree with you sir. even the people we trust can not do anything if we only provide a password or private key. therefore I suggest to tell all things about bitcoin assets (including how to access and how to exchange bitcoin into fiat money) to people we truly trust. even if they are not interested, I keep telling them all this. because if something bad happens, at least they know I have some money from bitcoin and they know how to use and how to exchange bitcoin into fiat money

My family don't know about how bitcoin and what bitcoin using, I live in my family and only me understand about bitcoin. Maybe if I leave file or bitcoin data for my family they do not know how to sue and log in to bitcoin access, I keep data for my self and save it for my self, but I will withdraw my fund if some thing happen.

i dont do this, my family dont know and too old to know about bitcoin. i ever telling this to my brother but he no respon or not interest about it. i dont care if someday bad thing happen, i mean i always rotate my profit in real life and when i dont cash my token out, it mean that token never be sold.

In you whole life I bet you'll have someone who can be trusted by you, you'll share everything to him/her and you have known each other.

For me, it depend on you, when you have a lot of money in your wallet (crypto) then I suggest you have to give a private key to him/her in order to when there is something bad happening in your life then you need to spend money but you can't do anything then there is someone who can help you. But give it to just one person, no more than that.

I myself has done that, I give everything about my activity to my wife although she doesn't know yet about it but at least he has known how to withdraw cryptocurrency to money fiat. I guess this field I'll be hold until I'm getting old, I'll never make a decision to leave this field, although I have made something that I wanted. Yeah it is very difficult to leave something which have made my live meaningful.

Same as what you did I disclose all my information with regards to my bitcoin assets to my family because I had a faith in them that it will be used on good hand. Like what you said, we can't tell when were going to die or we encounter our untimely demise so it is better to let your family know of these things so all your hard work on bitcoin would not go to waste.Moreover not all families are on the same case so we can't apply this to all who had one.

Yes, my bitcoins is also going to my family and it is stipulated in my Will.  ;)  A very close family member of mine know where I store my bitcoins and another one know where the duplicate copies are, so if something happens to either one of them, then they will still be able to get to those private keys and seeds.  ;D

Make sure you do not store your coins in one location, because natural disasters can quickly destroy your whole hoard. Also make sure that you split the Private key, so that people will not be able to do something with it, if they stumble onto it by accident.  ;)

Very well said, also if anything happens to the owner like for example he died, someone from the family will get the hardworked money, its better for them to take it than having it all to yourself, the owner cant take their wallets in the afterlife. At least if you leave if to your family someone will use it when needed and it wont go to waste.

My partner who taught me about trading and investing knows all my private keys. I'm confident that whatever happens, my earnings would go to my family. It's important that there's someone we trust who could access our wallets for emergency purposes but you have to make sure that you'll only choose a very trusted person or a member of the family if possible.

Just trusting them is not enough. Educate them too so they will not just simply know what bitcoin is or just for them to have an idea of what you are doing but to also help them understand how to use it when the time comes.

It's the same way in how rich families tend to train their children on how to manage, run, and be the next heir of their business.

no , i guess even i give that , they still dunno how to using it. and i am not typical a gladly person who will teaches a things , because basically from my logic as far i live, people can know everything based on their understanding, and the fast way to give some educate is try to understand how they are think of things.
it will be useless if i talk based on my understanding. i am not a people with haughty attitude if u think i am like that.
since i've do that before , and they just laugh to me.

Crypto or Bitcoin is just a form of money in Digitial sense you can use it as you can use money in real-life. If you are comfortable to give you bank details to your wife or any other family member you can also give them your Bitcoin key so they can use money when they need it.

No, I don't. I didn't share my password or anything with regards to my bitcoin accounts because I don't want it to compromise even on the member of my family. I always make it private because even if I will tell them about bitcoin, they won't still believe me and they will just think that it is a scam. But I keep on it on a chest inside my closet, and the time comes when I die they will trace my bitcoin where I stored.

Dude, think again. They might not believe you right now but there is a time that they will in the future. I think you just lost faith in them because of that. Have you ever thought of what if something happens to you right now or any other days? Do you still think that not sharing it to them is useless? Well, anyway you still keep it somewhere I guess they can figure it out soon but isn't it too exposed i mean what if someone start to climb in your house? Burglar?

i tweeted my private key, just in case

It's about personal assets and assets that I think need to be really safe and only I know the key, and I won't tell anyone the key even though he is someone who means a lot to me and I will save it by writing keys on paper and will keep it in the safest place and only I know.

I didn't give my private keys to anyone in my family. I am the only one who have access to my private keys. I know it can be called as selfish but I only trust my self because it is for the safety and security of my funds.

I have everything in a safe and a backup of everything in the safe in my parent's house. I think it is plenty. I have a more easy to access copy in a secret place in my study too for quicker access.
When crypto catches on to the point of the mainstream use then I will not keep my private keys in my secret place I will only keep them in the safe.

I think it's not bad idea. If you have people whom you trust 100%, then why not give the necessary knowledge and data to them so that they can use these assets, if suddenly something irreparable happens.

Printing a white paper of your private keys are good too, for them to easily understand it, but it is too risky because they might misplace it somewhere and it is possible that it could be stolen easily. This is a good will for your parents or your sons and daughters if you have one, it is a good assurance for their bright future ahead. It would be good also if you are going to tell them how to use it properly.

I feel that bitcoin, just like any asset, can and should be passed down like any other heirloom would. Especially in the case of BTC as there is no way(that I know of) to reclaim inactive wallets/zombie accounts. With a finite rescource like BTC, it would be important to pass it down to keep it in circulation  :)

Why have to give private key data to your family if they do not understand about crypto and bitcoin investment, how come they will access to your wallet if they do not know how to do, better give for your trusted friend because its help you when some thing bad happen to you at the future.

Yes I do. My family have access to some of my coins and a cheap masternodes and this is good. You never know how you can loose yours and you have back ups on your family as I doubt they will start to use crypto when they barely use computers. My parents also have access to 1 of the exchanges where I keep some coins without any good future but just in case they skyrocket I will donate all to them.

What is this post doing here ? This is not an ICO thread to promote your project man so please move it. ( post above me )

Keeping your private keys in a safe place is good, but printing it as a whitepaper I think it is not safe, private keys are created not to be seen by everybody, by printing it your are just giving a chance for other people to get your crypto saving. Its good that your family will have a copy but it is not good to give it that way. It will be your biggest risk if possible.

Well my family didn't know about bitcoin and the things that I am doing here so for now it is really nonsensical to do that but if I have a chance, I will teach them or atleast one of em the things I am doing. It is because again, we never know what would happen the next minute, day, or years. Atleast we have back-up plan in everything and our family is I think the most trusted people. If we cannot trust them, so who are we going to trust?

I'm just thinking about it guys. but I haven't given my family an understanding of bitcoin, how to generate and access withdrawals. You are very right, that is important. because sharing bitcoin access with family is good. to be useful for us and our family. maybe I will immediately teach it to my wife, so that one day if something happens to me (hope it does not happen) my wife can access and use it. thanks for reminding me guys.

I've left an encrypted folder for one senior relative with full instructions. I don't really trust anyone else with it. For all I know other family members might have heroin habits or secret second families that need supporting.

I have also witnessed a few times families going to war over wills so I'm not super confident vile behaviour could be avoided even when someone is alive if large and accessible sums are on the line.

I am considering rescinding that one person's access anyway. Since I'll be dead why should I care what happens to it? They have their own money. 

You make valid points about making family and loved ones having access to funds in the event of death or disability. The problem is how do you find that fine line between not effectively handing them the crypto in your lifetime and ensuring they get access to it after your death or disability?

That's the tricky bit and that's where you have to very carefully consider your trust levels. You could split the means to access coins or info with family and a lawyer or something but that could be open to being games.

I'm leaning towards assuming I'll be same and not dead enough to wait until the last moment before taking a risk.

What a poor childhood you have had, let me guess, your family didn't like you and now you're having a rebellion against them. Your family might not know how to use bitcoin technology but just like you and your friend, you begun with nothing, you didn't know also at first how this technology works but you did all your best to learn it, I just want you to know that your family could do that too.

We are working hard for our family, so our private keys and other information that contains cryptocurrency belongs to them as inheritors of it, that's more worthy than giving to a friend.

this cannot be confirmed unless you are still alive to see if your family uses the money from the crypto that you have earned so far. I think at least the family that I trust knows that I have some money from crypto that they can use when they are experiencing economic problems

Good thing your family knows how to do a transactions in crypto. This is what I'm doing my family knows where it stores, if everything transpires to what we did not expect, at least one of the member of your family knows where to locate your assets. Just share to your must trusted love one's.

You are right about splitting the information that leads to access the coins but that too has problems. For example, if a lawyer has drawn up a will which is to be opened in the event of death he knows which part of the private keys he is to keep and he knows which family member to release it to. Therefore, the lawyer knows who has the other half of the private keys and access to potentials of thousands of US$. Is it always a good idea to give 50% of the keys to one person and tell him which of your loved one has the other 50% even if it is a lawyer?

This is (as you put it) the very tricky part because a balance needs to be found.

maybe I haven't done anything like that now but in the future I think I will also give a little return on my investment to my family and maybe I will teach my family a little bit about playing bitcoin and other cryptocurrency so they can be easier to work so they don't have to tired of looking for work outside the home and I will definitely give them a portion of my work income for my family to make them happy.

In my case, no. It's easier to just keep it that way to avoid any private invasions. But I've of course put aside some of my assets and put them like a life insurance just in case something happened. I have crypto as a hobby but most of my income comes from the outside world. I do take out some profit out of my assets but I never tell them to my family.

I agree, this hard work that we are doing the whole time if for our family, and letting it go to waste by being selfish by not teaching them about how this world works will make no sense. The greater knowledge you pass to your love ones, the greater death you would experience because you don't have any regrets anymore, that is why it is important to share our blessings to them rather than it will stay on nothingness.

No one will use that bitcoin you saved because it is well kept in your wallet, think of it as a legacy that your family should have.

I have not but time will come if I think that it's needed. They are aware of cryptocurrency but doesn't know how to do transactions.

And also, if I share my private keys to them, they might eventually say it suddenly by telling a story to others which is risky on my part. That's why I've decided not to.

Just doing for my friend, I save my private key or my bitcoin account data with my trusted friend because my family do not know about what is bitcoin, I have trusted friend and I save his private key data and he save my private key data, we doing together if some thing happen on each other my friend or me, I keep give everything my data to him.

I didn't give my private keys to my family as I am not thinking of dying yet but if time will dictate about my life then I guess my funds will be lost as no one of my family knows about my work and to my private keys.

I've been thinking of it also many times but whatever happen to me, I guess it will be the end of my investment also. And I didn't explain also to my family on how to use crypto currencies therefore they will have difficulty also if I just give them my private keys and will tell them to withdraw all the money there if I die someday.

Have give your data private key pr phase prase for your family with your bitcoin or your exchange account, we don't know when we got an accident and can't open our bitcoin account, by saving our bitcoin data or private key to our family they will help us when open or selling our bitcoin assets.

Are you really ready to trust them to do it the right way? I'm not saying they could steal your Bitcoin but if they're newbies they will make newbie mistakes. They won't check if the addresses are correct, click on phishing links thinking they are logging into your exchange account, they will use devices that aren't secure and have no antivirus software. There's many ways a newbie can mess up.

If you want give your private key or password to anyone in your family it's alright choose the people you really trust so your assets will be safe what ever happens. And I think if you give that  to trusted person make it sure they know how to use it. Nothing is wrong if you give to one your family member what your private key like you said it will be helpful to them what ever happens to you in the future.

Private key is the most important thing if you own a crypto currency. If you share it with someone or even with your life partner, there is every chance that you might have a bad day with him/her and he /she may misuse your funds. It is very difficult to completely trust anyone and then share the key with your loved one.

Well, I see it to be very good move. I wouldnt wanna be in such and my family cant access my account because i didnt share with anyone. That will be very sad

Hence the dilemma.

What do you do to ensure your loved ones can access the funds in the event of disability or death?

What is the safest option?

Yes i have a copy of my personal information like password private key and everything important and i give also a copy to my husband so that if some happen to me they will open my wallet.
And I'll teach them also what they do so they know what they are doing someday.

If it is someone from your family or your loved ones it shouldn't matter.
Thinking something like they misused your fund will only show that you do not trust them.

But its everyone's decision whether they share any information with anyone or not, if not sharing it to someone close to you will secure your funds then its fine.

My wife knows what are my private keys too, passwords in email, social media, my laptop, I don't need to hide anything to my wife and I know she will not do anything with our funds without knowledge. It's just a matter of Trust and communication on how to use your fund wisely.

Well I a have all my private key and passwords in my excel file and it is saved inside my usb. If something happens to me they will just open that usb and so they can access to my crypto accounts. But the main problem is not with the private key and password but it is because they dont understand how to use it since they are not interested and because my wallet has no bitcoins left because I always withdraw it to purchase the need of my family.

Malware is bad thing faced by many people get online system, many people faced with malware virus in their computer with installing some application in his computer, be aware when you want to check some application to your computer and use correct link for saving your data and use flash drive to save your private key or your bitcoin account detail.

Indeed, so very extra careful for this. In telegram, you can see this things lurking around. So very careful with this matter, if unsure and if it came from PM or from unknown sender, then don't dare to open it if you don't want all your hard earned tokens will be gone quickly.

I think we should say our private keys, passwords and other important things to our family. So that we do not have to fear any possible future events. It should be ready and our spouse or any beneficiary of our crypto money will know. And of course we have to give this information only to trusted people so we can be sure that it will not fall into the wrong hands.

We should pay attention to it now because we are not in control of our lives,

We have share or give our family data with private key and bitcoin account exchange, we don't some thing happen with us one day later, maybe if we are giving access to our family they can take our assets in exchange account or holding in myetherwallet, most important to give private key only for trusted family where keep save our data, but they have understand with crypto and wallet access how to sell coin from myetherwallet and exchange account.

Your family members, if you love them, should certainly have access to all your assets, both cryptocurrency and any other. This is life, anything can happen, no one is immune from an accident. A trader, an investor, should be a conscious person and take care that in case of something native people were able to take advantage of his funds.

I want to but the problem is, I don't know who because I'm the only one who knows Bitcoin in our family.

I don't have my own family at this moment but my couple knows a bit about Bitcoin so maybe she will be the one whom I share my keys to. I want to teach my relatives too about cryptocurrency but I find them not interested when it comes to this thing so I decided not to teach them. I decided that I will teach my own family regarding crypto in the future.

LOl, it is better that you just still keep your private key safe because one day, you will still have sufficient amount of money to store into it for future, but this excuse you gave will really not help you from getting bashed in future when your children open your wallet and found that you have not bitcoin in your wallet, they will not want to take that excuse that you were spending it on family need because they will never understand as much as you do understand yourself.

No matter how tight the situation may be, I think that it is best if you still have some bitcoin in your account saved for the future and never touch it no matter what. You just have to learn to be disciplined so that your children can have something to praise you for in the future when they need you the most to stand by themselves or when you die and they need something to continue with life.

yes almost the same as you, but I am more to my friends who understand about crypto as well, if anything happens to me, he will give the mandate to open my computer data, yes he might steal my assets without my knowledge but remember the law of karma, and give my assets to my family through my own best friend whom I consider to be your brother.

To be honest, I am not yet doing this, but this topic provides me an idea on what would happen to my funds when I am not in this world any more.

The solution I can think is just to provide thw password of my pc to my relatives, I couldn't trust my friends and my family would be the most reliable. Going back, I'll provide step by step instructiin how to manage my funds including wallet addresses and private keys, as well as transferring funds to their future account. Not to withdraw to fiats, but to encourage them to have their own accounts using the knowledge from my pc.

Before sending private key account to your family teach them what is crypto and how to use crypto, you have teach basic of cryptocurrency from bitcoin until altcoin, you have know to your family how to get altcoin and how to sell your assets, without teach them how come you send private key but they not understand how to withdraw and how to sell your altcoin in private key.

Cryptocurrency brought a big change in my life, especially in terms of work and finance. My family all know that I work and earn money from cryptocurrency, even though they don't know the details. Who knows in detail from the people closest to me is my wife. I teach it all about cryptocurrency, we work together to earn money that we use to meet household needs. My wife focused on the bounty campaign, and I focused on trading, we combined both. Of course, all our passwords and important data are managed together :)
If you are married, you have a very trusted partner, don't waste this opportunity, and invite your partner to work together to take advantage of the benefits of cryptocurrency.

I think you are doing the right thing, you must explain the basics of crypto to the person you intend to leave your funds to in the event of your death. If you do not have kids right now maybe you can teach them too.

After all you have to make allowances to ensure your loved ones (or chosen ones) receive your funds in the event of your permanent disability or death.

Yeah, actually I also have that plan, because we don't know what will happen in forward, right? while the only one who knows your money in cryptocurrency is just you. If you die, of course the assets that you hold in crypto will settle and cannot be taken by anyone, because crypto is not like a bank, where the heirs can take your money if you die. I also want to give my family knowledge about crypto, just to be on case, give a password and all access to my wallet.

Of course, it is better than to deny them the funds if something happens to me, and keep the coins locked away forever.

i have not share any of these to family but it is in my head already before that even 1 in the family should know my crypto details
in case unexpected circumstances happens. I do not want that all of my efforts and profit will just be a forgotten.

I don't share data to my family because almost them do not understand with bitcoin and altcoin, I have teach step by step with bitcoin and altcoin then how to withdraw coin from exchange and myetherwallet, they still newbie with how to use bitcoin and altcoin become cash money and how to withdraw bitcoin or altcoin assets from exchange wallet to bank account.

My family know where my funds came from and they know bitcoin but they don't know how to access even I already teach them its too difficult to them to learn and also they don't know how all cryptocurrency works. and that things are so difficult to me so I trusted a person. friend of mine as an option if something happen really bad. we were together at the beginning learning crypto. so I'm not afraid to entrust him for my funds. with this times may come just don't be so greedy to share your knowledge and gave some info to any of your acquaintances.

No, but a couple members of my family do know that I own some crypto, and I do keep all passwords and seed phrases where they can find them in case I drop dead.  They also know I want everything to go to them.

I don't think it's generally safe for people to be giving that stuff to anyone unless you really trust the person or persons you're giving it to.  Lots of greedy people in the world, even family members.  The best thing to do is to have a will made up.  You don't even have to show it to anyone or let heirs know what you're leaving them.