Is there a tool to rescue your funds after you are dead?

[phips28]

Hi Guys!

I am looking for a tool, lets call it "dead-man-switch".
Lets say I die, all my funds would be gone. 🤔
=> everyones dead persons wallet would be gone forever.

Is there a tool to store the private keys (or other credentials), which get released to predefined persons after you die?
You have to login to this tool once a week to signal you are alive.

If its a 3rd-party tool, then there would be a trust issue if they just store the keys in a database.

Have you heard about something like this?

[Xavofat]

I assume that this tool would have to be connected to the Internet in some way, so it would potentially be vulnerable to malware and any other threats.  People who are using paper wallets or something else offline might not be satisfied.

I don't think that this exists, but I could imagine a decent hardware wallet considering implementing it.  TREZOR have a connection to Dropbox feature, so even though I wouldn't expect it to happen, I could imagine a feature in which you decided criteria for the wallet to assume that you're dead and then the information could be exposed in the correct circumstances.

Perhaps you could just leave a paper wallet in a bank safety deposit box and then leave it to someone in your will.

[Rozita]

There isn't any tool. It's the first time I hear this and it's a good idea. Loss of bitcoins after death has always been a concern.

As a solution your private key ca be emailed a person we have defined before.

[eyesopen]

the only tool is to leave the private keys of your wallets to your intended recipient in your will or before you die.

[JumboCactuar]

Cant you just add keys and instructions to your will?

[BitSat]

There isn't any tool. It's the first time I hear this. It's a good idea. Loss of bitcoins after death has always been a concern.

Its very serious concern but we can put private keys in any bank locker for next generation with all details because now most of peoples can manage to use internet and understand all things without any problem USB is also very useful for this as all data can safe in very easily without any problem  

[coin163]

Let's save your private key to somewhere in paper. I don't think any theft will take the un-meaning words from your house haha.
Share pincode, word-phase of cold wallet to your family members.
That's key then event they don't know they would ask someone to help later

[Alns]

That tool is called "private key"

I am looking for a tool, lets call it "dead-man-switch".
Lets say I die, all my funds would be gone. 🤔

That is the only thing that the other person needs to unencrypt your wallet, there isn't any magical tool for recovering those bitcoins that are in a wallet because the owner of them has died.

So forget about it, it does not even exist and it will never exist, at least, it hasn't been created yet.

The Real satoshi has posted in here this:

When someone dies and he has bitcoins on his wallet, then those funds are lost forever because they will be here, so take it as a donation to the price, to all bitcoin holders

It was like that, but wrote with my own words lol

[odolvlobo]

It is possible to make a "dead man switch". You create a transaction sending your bitcoins to an address, but use the "nLockTime" feature. This feature makes a transaction invalid until a certain block. You give the transaction to the person you want to get your bitcoins or put it in your will.

If you die, the transaction can eventually be used to send your bitcoins. If you don't die, then you can invalidate the transaction by sending the bitcoins to another address before that transaction's nLockTime is reached.

For example, assuming the current block height is about 500000.
1. You create a transaction sending all your bitcoins to your will's executor, but set the nLockTime to about a year from now (block 552560). The transaction is not valid until block 552560.
2a. If you die, then the executor will be able to publish the transaction after block 552560 and receive your bitcoins.
2b. If you survive the year, then you send your bitcoins to another address before block 552560, invalidating the transaction. Then you create a new transaction with nLockTime.

[reingelz09]

I think if its possible it cannot handle full security issues. If it is stored in with the use of internet of course many will attempt to hack the accounts. Aside from that you can't trust your account to anyone. Much better to tell it to your family members about your account or make a vault in the house and write all your account information. and if you die instantly then your family members will attempt to open the vault forcefully even without your key to the vault.

[bitart]

Hi Guys!

I am looking for a tool, lets call it "dead-man-switch".
Lets say I die, all my funds would be gone. 🤔
=> everyones dead persons wallet would be gone forever.

Is there a tool to store the private keys (or other credentials), which get released to predefined persons after you die?
You have to login to this tool once a week to signal you are alive.

If its a 3rd-party tool, then there would be a trust issue if they just store the keys in a database.

Have you heard about something like this?

Don't use a 3rd party to store your private keys for you or for anyone you want to have it after.
Simplest thing is really that you have to rent a safe box at a bank and put the private key and some detailed instructions in a closed envelope into it. Lock it, and in your will mention something about the safe box and your family will have a look surely. I won't recommend a hardware wallet for this long period of time, becase who knows that after several years or decades what kind of PCs or any other system will we use, so the easiest is paper and printer...

[TimtheYoutuber]

If you have your coins on coinbase ( which I would not suggest ) then someone in your family could access it simply with your password and email.

However if you have access to a private key you will need to educate your family on how to retrieve the money.

It is possible to make a "dead man switch". You create a transaction sending your bitcoins to an address, but use the "nLockTime" feature. This feature makes a transaction invalid until a certain block. You give the transaction to the person you want to get your bitcoins or put it in your will.

If you die, the transaction can eventually be used to send your bitcoins. If you don't die, then you can invalidate the transaction by sending the bitcoins to another address before that transaction's nLockTime is reached.

For example, assuming the current block height is about 500000.
1. You create a transaction sending all your bitcoins to your will's executor, but set the nLockTime to about a year from now (block 552560). The transaction is not valid until block 552560.
2a. If you die, then the executor will be able to publish the transaction after block 552560 and receive your bitcoins.
2b. If you survive the year, then you send your bitcoins to another address before block 552560, invalidating the transaction. Then you create a new transaction with nLockTime.

This is actually a very good idea, and I might consider doing this with a trial amount of coins. Seems pretty cool.

[jeanpadel14]

I think there is no tools to rescue your funds before you die.Its is big concern once you left your account.My suggestion is there is someone who know your account and this person is trustworthy or in your husband or wife.

[bajangpesu]

Leave the private key on the paper, your email, password and xcahnge name where you are trading, store in the cupboard or some where, a time will be found your child

[armansolis593]

The only way for your love ones to get hold of your funds in bitcoin if they knew your private key, lets say you put your private key in a bank vault then you ask your lawyer that if you die you will give your love ones the authority to open the vault which contains the private key to your wallet.
Or you can put them in a case and bury them in your yard and on your last will and testament you will indicate that you leave them with wealth hidden in your backyard they just have to did for it.
Regarding the online tool or downloadable tool there is none and virus or malware may corrupt your pc or usb that is not advisable.

[entrepmind23]

It is possible to make a "dead man switch". You create a transaction sending your bitcoins to an address, but use the "nLockTime" feature. This feature makes a transaction invalid until a certain block. You give the transaction to the person you want to get your bitcoins or put it in your will.

If you die, the transaction can eventually be used to send your bitcoins. If you don't die, then you can invalidate the transaction by sending the bitcoins to another address before that transaction's nLockTime is reached.

For example, assuming the current block height is about 500000.
1. You create a transaction sending all your bitcoins to your will's executor, but set the nLockTime to about a year from now (block 552560). The transaction is not valid until block 552560.
2a. If you die, then the executor will be able to publish the transaction after block 552560 and receive your bitcoins.
2b. If you survive the year, then you send your bitcoins to another address before block 552560, invalidating the transaction. Then you create a new transaction with nLockTime.

This is an interesting idea. Furthermore, OP have the option to just print the paper wallet and keep it in a safety deposit box in a bank or somewhere that is safe. We don't know what will happen in the future so right now, you can start educating some of your family and friends about bitcoin so that they will have an idea how to use and retrieve your coins in case something happens.

If you have a significant value of coins then have a meeting with your lawyer about your will and then if possible don't just put your funds in a single wallet to reduce the risk and put it in several places as well.

[Ilegendph]

Hi Guys!

I am looking for a tool, lets call it "dead-man-switch".
Lets say I die, all my funds would be gone. 🤔
=> everyones dead persons wallet would be gone forever.

Is there a tool to store the private keys (or other credentials), which get released to predefined persons after you die?
You have to login to this tool once a week to signal you are alive.

If its a 3rd-party tool, then there would be a trust issue if they just store the keys in a database.

Have you heard about something like this?

There is already token/coin for your concern and I think it is digipulse. It is a token for preservation of inheritance and I think its on the ethereum network as smart contract.

[akamit]

It is possible to make a "dead man switch". You create a transaction sending your bitcoins to an address, but use the "nLockTime" feature. This feature makes a transaction invalid until a certain block. You give the transaction to the person you want to get your bitcoins or put it in your will.

If you die, the transaction can eventually be used to send your bitcoins. If you don't die, then you can invalidate the transaction by sending the bitcoins to another address before that transaction's nLockTime is reached.

For example, assuming the current block height is about 500000.
1. You create a transaction sending all your bitcoins to your will's executor, but set the nLockTime to about a year from now (block 552560). The transaction is not valid until block 552560.
2a. If you die, then the executor will be able to publish the transaction after block 552560 and receive your bitcoins.
2b. If you survive the year, then you send your bitcoins to another address before block 552560, invalidating the transaction. Then you create a new transaction with nLockTime.

Its a awesome feature you have mentioned. Is there any specific wallet to use "nLockTime"?

~op~

The easiest thing I have done regarding the issue about a year ago is just by telling my wife and brother.
I was thinking the same thing one year back, "what will happen to my coins if I die?" Then the solution came up for me.

I just wrote all my logins, private keys, backup phrases and printed out.
Then I simply handed over to my wife and brother and taught them how to claim the coins if I die.

Still my wife don't understand about cryptocurrency but my brother recently shown interest and started learning trading.
I'm just hoping that my brother will learn all the technical aspects of cryptocurrency very soon.

But if your case is different then you can use above feature as mentioned by odolvlobo.

[TheGodFather]

Hi Guys!

I am looking for a tool, lets call it "dead-man-switch".
Lets say I die, all my funds would be gone. 🤔
=> everyones dead persons wallet would be gone forever.

Is there a tool to store the private keys (or other credentials), which get released to predefined persons after you die?
You have to login to this tool once a week to signal you are alive.

If its a 3rd-party tool, then there would be a trust issue if they just store the keys in a database.

Have you heard about something like this?

i doNt think that there is a tool invented for this especially with how everything is going on this regarding our assets and properties when we die. However if one can be made or created then that would certainly be good news to the gamily of the fallen

[phips28]

thx to all for the great input!

I definitely will try the approach for @odolvlobo - but first off all just for learning

For now the best solution seems to be the paper+safe+will method. How old school