What happens with my crypto when I die?

[agentx44]

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.

If you die your cryptos or your holdings will be safe in your wallet, but if none of your family members or relatives knows how to access in any of your accounts then it will be all useless. To avoid it you should teach one of your family members about cryptocurrency and give them your private key, so they could access in your accounts.

[mmo_online_1981]

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.

A good question, if you put money at the bank, your relatives have the opportunity to get money back. If it is digital money, Private key will follow you. Unless you personally give someone a private key,

[Sobol101]

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.

In this you will be able to understand the numerous forums on the Internet, where a lot of professional people in this area are given advice, so good information you can find on the Internet.

[pragna]

Nothing will be happen sir. Until your nearest man can not know your private key that you storied your BTC or crypto wealth anybody could not stole or brake your wealth. Because they did not know you as a man, they know you with digits.

[putrii]

which will happen with the cryptocurrency you have when you die it seems like you will lose your assets and your cryptocurrency assets will be stored in the wallet and no one will be able to withdraw because no one can access your wallet.

[doraegun]

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.

Your problem has a simple solution, first  trust your parents and Siblings or anyone who trusted love once share all your private entries to accomplished about how procedure to CASHOUT your bitcoin before it can happen, that's very simple. if you want your bitcoin safely.

[Dr.Osh]

which will happen with the cryptocurrency you have when you die it seems like you will lose your assets and your cryptocurrency assets will be stored in the wallet and no one will be able to withdraw because no one can access your wallet.

you are right. of course it will always be there, and no one can open it, unless they know it to get into your wallet. well. basically the asset that you have locked there, then from that, save all the back ups you have to a trusted person.

[Ronzky]

when you die and no one ever know your account in bitcoin, probably all your account will be useless, because none of your family or friends know your private key. maybe my advice to everyone is that we should have a book for all our secrets so that by the end of the day, or the unexpected accident in our life one of our family would be able to recognize or access our private key. it is better that everyday we are ready all the the time, because accident happen anytime.  

[Lady Coquet]

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.

Nothing will happen with your cryptos it will just stay on your wallet if you die because you cannot bring it with your grave, but if one of your friends or relatives do not know your private keys all of cryptos will stuck in there and will be useless. You should tell one of your friends or relatives that you have trust how to access on your account because if not all of your cryptos will be stuck in there.

[dukker]

it's go away forever please give your private to your wife 

[Maame Esi Sergio]

Death is inevitable so if you really have figured all this unpredictable events that can befall you, then i advice you find alternative means to solving that problem. Apart from you dying, you can find solution to regain your money in case any of that befalls you. I believe for any problem, there is a solution.

[Fesatmas]

There is no guarantee that your crypto assets will be safe when you die. Bad thing if you use a third party service to save the private key of your wallet that will be used when you die it's the same you sacrifice your assets to be managed by third parties..

[ViktoriaM]

if you have a great value in crypto in the world, make a backup, keep everything in a safe place. And if you have a lawyer and you just set everything you want if one day you do not want to happen - it should be transferred to a family or someone indicated

[patitricks]

Your cryptocurrency will be useless if you die without carrying any of your relatives or child along which is very bad.  However, if you let someone whom you trusted to have an access to your account and even trusted your wallet and your private key so that if anything happen to you they can still have an access to your account or to your digital currencies.

[jayarbillones]

it all depends on you if before you die you give your wallet password on the person then after you die crypto you will be taken over the person but if no one knows your password.Don`t panic. While you`re young and healthy go bitcoin and other cryptos if you`re interested and time will tell what will happen next.And if you have more Bitcoin once you die no one else can get it.If the price increasing It will also increase and years come it will grow and grow.

[ASHLIUSZ]

If the details of your cryptocurrency holdings were left unknown to someone who is trusted to you or to anyone in your family it goes unused. Better is to provide the private key as well all the related details to someone trusted, because we don't know what happens next minute.

[burky155]

Why would you think about that? I think you love Money a lot After you die there would be nothing that you care.. I think you should help people with your money or coin if you can while you still alive..

[zmkriel]

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.

Ofcourse there will always be a solution on what is listed above. It is so simple and easy and not so complicated. Everyone of us has a friend or someone that we trust much right? So why not trust that person aswell with our important belongings like our passwords, cryptos addresses and private keys especially on our other half or into our children. So we are not going to be worried about those things. Anyway, we invested for them, right?

[rinkeshkashyap01]

If you suddenly died, so your family can be extracted by your hardware wallet to go out of your digital currency assets.You can give your private/secret data like I say before to the people which you really really trust and rely on. You can using online wallet for it, because people who you give your private/secret data like email address, password and private key of you wallet can access it.

[Wahyud11]

before death comes we must give our security keyword bitcoin to the family or relatives, so that someday we die bitcoin that we have can be utilized family or relatives