What happens with my crypto when I die?

[mxyzptlkof6th]

I think your sons or daughters will be the one whos responsible of your cryptocurrencies. Or you can give your wallet password to someone who you trust like your wife, mother, father.

[1715150317]

1715150317

[careCentre]

It is a very interesting question  ... The idea of blockchain technology and decentralization is one of the best ideas that have been created to solve the problems the centralization faced. But in terms of next of kin and death related issues, this system is lacking.. In case a holder of bitcoin wallet dies, i think his/her bitcoin will still be in the system but no one can assess it. Making his/her asset lost .

[jhonnydeep87]

It all depends on internet users in the world. If you have someone who will inherit your bitcoin like someone you really trust.

[addeqt]

Here is the thing my friend, if nothing knew you have a bitcoin or an alt coins, those assets die with you too. So I could advice is to let one close friend or family member to knew your possessions and give them instruction in the case those unwanted event occurs. They, will even be happy that you left them some treasure that could be use in your memorial service. But you know, I just think of, I think those coins could be claimed by the crypto wallet service provider if they knew no one got interest on a particular account. 

[wallstone]

For me, if I would die, I wouldnt let my Bitcoins die. I would be writing it in a piece of paper and secure it in a place where they will be able to find it after im gone. Big or small amount can help, and besides what would you do with bitcoin? you cant use it in the other life

For me I will remain my bitcoin alive and continuing earning of profit. I make a write a letter and I kept in safe and secure place, when I die my family fine it. I will give to my family my bitcoin big or small it will big help for them and also I write, they will continues joining in bitcoin for there future become successful and financially stable.

[Kristy22]

I guess it depends, if you leave instructions, passwords, email account info, in a will, trust, or with family, sure its attainable. If not, then its the same as if you lost your private key, it's gone. I use encrypted excel files with everything saved on password protected thumb drives (seperate copies) with family, and two additional ones in my possesion. Don't leave in a bank deposit box.

[xiboothrezi]

For me, if I would die, I wouldnt let my Bitcoins die. I would be writing it in a piece of paper and secure it in a place where they will be able to find it after im gone. Big or small amount can help, and besides what would you do with bitcoin? you cant use it in the other life

For me I will remain my bitcoin alive and continuing earning of profit. I make a write a letter and I kept in safe and secure place, when I die my family fine it. I will give to my family my bitcoin big or small it will big help for them and also I write, they will continues joining in bitcoin for there future become successful and financially stable.

So, communicating the ownership of bitcoin assets with the closest family is very important. whether supportive or not, leaving a message in the form of a "something" that we have can keep our property usable. It would be useful if the nearest person also understands the world of this cryptocurrency, if not then you should also leave the tutorial to access it. Well, it's all to be prepared.

[Ayaancool]

We always keep details of bitcoin very confidential from everyone to escape from the cyber hackers. But I think you have to share the detailed knowledge about bitcoin to your family and the informations about bitcoin that keeps in several wallet and records. Otherwise after your death if no one knows about your investment in bitcoin then there is no use for anyone.

[Tagus45]

Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.

Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them

So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?


UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at layers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.

What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of a such product. But again I realy do think it should be built decentralized and trustless.

You can share your private key with your family, and if you die then bitcoin will be automatically inherited to your family.

[Tayata2005]

This is a great thread. Always wondering what becomes of one's assets during disaster especially death. Reading through this I can see that the best option is to give your private key to a lawyer or trusted family member. Thanks for the thread.

[joebrook]

you must think of it carefully and make a good plan for this accident.

As investors we should make sure that the bitcoins that we so tirelessly mined/bought don't go to waste in the case of our demise. The best thing to do is make contigency that will ensure that our bitcoin investment pass on to some who at least knows what bitcoins is and what it can do.

[aardvark15]

The best option is store you public and private keys in a bank safe deposit box along with instructions on what it is and how to retrieve the coins. My dependents won’t know what to do with the keys, so it’s important to leave clear instructions. It may also be a good idea to leave all of this information in your will. I also recommend having a secondary storage location just in case.

[vvaswert]

after death, the purse will be dead and useless. so leave the key to one of your relatives or write it down on a piece of paper that you will find later. Do not take it with you and grave

[fbastage]

Of course, nothing, we do not keep a record of the population who have crypto currency, besides it is anonymous) You can simply transfer the keys from your purses to your relatives and that's it!

[Yakapo]

Wel if you die with your secret key stored in privacy where no one can get them then in your wallet is where they will remain, no one touches them ever, they literally die with you, however, your cryptos can be passed down to your kids i you so wish, Open a safety deposit box  and write a will that it be opened only when you are dead, in it  write down tour details and instructions to whom you want the coins to go to, this way your coins are passed on to someone

[conceivedspoon2]

Bitcoin is not just a currency, it has also become an asset. Once your passport and wallet id is secured, then you can pass it on to your children and families. So when you die, your bitcoin does not die with u.

[a_t_e_e_b]

your coins will stay in your wallet as it is it just wont be circulated anymore unless and until someone from your family comes to know about it and decides to use your money

[fuer44]

when you save all your crypto data including your wallet, when you die it will not happen anything. Crypto in your wallet will be a hidden treasure.

[Daboy_Lyle]

The crypto on your wallet will still. It will keep alive until someone knows your privatekeys. It's better to teach your son or one member of the family. Keep a flashdrive including your PrivateKey or important things that should be known by your family.  This will keep your crypto useful.

[Th3Program]

We do not like to think about death. But our descendants and dependents will remain without means of subsistence if access to assets dies with us. It should not be. Simple and easy actions will help savings not to disappear, such as a will.