What would happen to your BTC and Alts if you died today?

[eaLiTy]

As I use BitGo and a little Blockchain, some desktop apps but they really don't have much on them. My family -- if they cared much about this money would go ahead and find my secret 16 word code somewhere in my house and they'd use it to cash out and sell through Coinbase.
My family would get it and sell!

So basically you will be putting a puzzle hoping that your family members will find out in case you die and most probably they wont be cracking the puzzle.The only solution is to give a detailed instruction on where your digital assets are stored and you can lock all these details in a bank locker and when there is an untimely death your family members could retrieve all the accounts without much trouble.

[Pattart]

Before i turned 60 yrs old, i think my children are old enough to know and understand what i'm doing with cryptos so i will try to explain it to them to understand it more and i will give them a copy of all my private keys for my bitcoins and alts so if ever i died, they can get benefit to my savings by withdrawing it and selling or exchanging it into fiat.

If you are old then it is better if you meet someone who is trusted to make a will. Which contains your wallet password. You can give it to your brother or your child when you're dead

[mrcash02]

Before i turned 60 yrs old, i think my children are old enough to know and understand what i'm doing with cryptos so i will try to explain it to them to understand it more and i will give them a copy of all my private keys for my bitcoins and alts so if ever i died, they can get benefit to my savings by withdrawing it and selling or exchanging it into fiat.

If you are old then it is better if you meet someone who is trusted to make a will. Which contains your wallet password. You can give it to your brother or your child when you're dead

Even not being an old man everyone should does it... Nobody know what can happen on the next day, so you have to give your informations like passwords, logins to someone near you, someone you trust to make useful use of your money if you can't use it (if you die for example). For me it's not a problem as I let all my informations wrote on a notebook, trusted people near me have access to it and I'm sure they will use the money very well if I can't!

[SingAlong]

Why not have a clear written letter with all instructions written and store it somewhere safe such as a vault or a safe. This way if ever any of us passed away our entrusted relative will be able to able to use our stored bitcoin. Though they do not know what bitcoin is, leaving then an instruction will do the trick. The instruction must have your private keys and anything related to your wallet, how much is in there in terms of fiat, how will they exchange it to fiat, some information about bitcoin , etc. This way our accumulated bitcoin will never come to waste and be lost forever.

I'm sure they will now be eager to learn how Bitcoin qorks if they know how much money you have in there. Kidding aside, since there is no solid provision for Bitcoin like in the banks or anything where your wealth is distributes according to your last will but in this case it is better to withdraw it then store it in a bank if you feel your life is gonna end anytime or you just want to be practical. For now, countries like Japan and Russia are recognizing and legalizing Botcoin and might as well the other nations then they may come up for a provision with your wealth in Bitcoin which for now I don't know how will they do it or maybe you just need to list down your wallet, password or email so the lawyer and the family could consult a person who knows Bitcoin then withdraw the money ypu have there.

[davis196]

I have accumulated some Bitcoin and other alts. Most of my holdings are in a single wallet yet I have a few on different platforms and one left on an exchange. I have tried to explain this to my spouse yet there is not a full understanding. If I died I am confident that all of this would not be recovered.

This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.

What is your situation ?

I don`t have large amounts of bitcoin to hold and usually i sell my bitcoins to fiat very fast,so i don`t care that much.
You are right,they won`t be recovered after you die,unless you share your passwords with your relatives.

[Amph]

my family would have access to my bitcoin, and use that to continue their life, they are not obscured or hidden in anyway , they know that they are mine and won't touch them

if you can't trust your family then i think you have a problem, and it's better if you spend your bitcoin if you ever think your are going to die because you are ill or something

[Blackdeath]

I have accumulated some Bitcoin and other alts. Most of my holdings are in a single wallet yet I have a few on different platforms and one left on an exchange. I have tried to explain this to my spouse yet there is not a full understanding. If I died I am confident that all of this would not be recovered.

This weeks project is to write an encrypted note detailing where are the holdings are and how to access them. Even with access, the knowledge is not there to be able to convert the holdings to fiat if necessary.

What is your situation ?

I don't have large amounts of bitcoin to hold and usually i sell my bitcoins to fiat very fast,so i don`t care that much.
You are right,they won`t be recovered after you die,unless you share your passwords with your relatives.

If you know you might die(expectedly), you should have made your account's list and passwords and make your statent in which you are going to inherit your wealth with description. If you are about to make a list, it's better if you put it on a notbook so that it would be accruate and will be found easily.

[Taki]

In the case of my death I think my bitcoin would be safe. All my passwords is written in a block note and my husband, who also in bitcoin world, knows it. So, my bitcoins wouldn't be lost.

[Omikifuse]

would disappear because no one knows about them

[lienfaye]

I think no one will be able to access my account since my family are not interested with what im up to. thats why im trying to explain this to my sister because she is the only one i can count on with this matter and if she agreed ill pass my private keys incase something happen to me.

[Kakmakr]

I have two friends that I introduced to Bitcoin and they made a ton of money on the trading side. I have a small black book with detail instructions and passwords and private keys. If something happens to me, my family will take the book to these guys and they will know what to do. < because they are familiar with Bitcoin >

I have the same arrangement with them, if something happens to them. ^smile^

[AjithBtc]

In the case of my death I think my bitcoin would be safe. All my passwords is written in a block note and my husband, who also in bitcoin world, knows it. So, my bitcoins wouldn't be lost.

That's good and a perfect planning of the future, because none know what's gonna happen in the future, even the next minute is not assured. My earning goes wasted, because till date I haven't thought about it. Now I have decided to give a detailed information about the same to my sister who is aware of using bitcoin.

[Renji Abarai]

This is a very good question because most of us wants to know what happens next when we are gone. As of now I don't know also what will happen as i don't have also future plans with my bitcoins. Maybe I have to educate one of the members of the family regarding with bitcoin and entrust him with private keys or put it in a book the instruction how to recover my bitcoin when I am gone. As I don't have lawyer to entrust, I think that is the best way I can do it.

[barnes13]

Almost three month i'm thinking about this, what happen if i'm gone with all my asset in cryptocurrency, and I have an idea to make some video about cryptocurrency tutorial, but it's need a process and before it, i'm decide to teach my sister about cryptoworld and i'm happy because she give nice attention about cryptworld, my next target is teach my nephew after she 12 Years old.

[btcdiggingmaster]

This is one is the best question to answer because in every family everyone will face the situation at one day, so my plan is I will share all my investment information to my wife and everything she will note down in a book so that she can keep track of everything after my death. At the same time, i will store all my investment information in my external hard disk.

[alexsamudra]

Yes I will tell my family about the existence of bitcoin dah site sites that I already know, I hope my family will continue bitcoin that I have made to continue it in order to continue to grow.

[robocop3]

It is like other properties，I will tell my family about the BTC and other digital properties.also tell them how to get it if  i dead!

[thebitcoinkiddo]

Try putting it in your death will, and disclose the location of the safe in it with instructions. I'm sure she can figure it out if you're clear enough. Don't use a complicated wallet system, just a code to scan on some site to import your key.

[DoublerHunter]

Try putting it in your death will, and disclose the location of the safe in it with instructions. I'm sure she can figure it out if you're clear enough. Don't use a complicated wallet system, just a code to scan on some site to import your key.

I agree with you, do not use any complicated wallet and make sure that wallet can import private key so if the time comes and you died then they can get your money really easy because they just need to scan the barcode then they can get your bitcoins or altcoins and convert it into cash and use it for their own.

[CODE200]

Then my family will benefit that because I have a note inside my wardrobe contains all of my accounts in all site that I handle and they can easily find that because my sister know that and my social media account password is not there so they will benefit it. And the last thing is almost all of my earning now is in the bank so I will not lose some now.