What happens with my crypto when I die?

[Ronni]

It will be left with your online wallet. Bitcoins are stored in your bitcoin wallet and you are the one who knows how to access it, if you died, there will be no one knowing it unless you said it to other people. Your cypto will stay in your wallet and it will never be converted to cash by itself, it needs someone who will transact to convert it to cash. The best solution to it is when you know that you are dying inside, then immediately tell the person you really trust to convert your crypto into cash.

[1715080667]

1715080667

[grabpopcorn536]

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.

When you die you will not know anything about the market anymore, all your information will still be stored on the internet, but no one can take over, I think if there is no change in Crypto then your information will remain forever.

[mahilchii]

You have to share your wallet to any of your family members or whom you trust before any thing happens to you to make use of Bitcoin. You should choose who is the right person to handle your wallet after you to spend for useful things what you left over.

[ToddDiaz]

If no one has your passwords and passkeys to your wallets or whatever storage you use then I am afraid those coins are gone forever. You would always put it in a will like you would other properties and investments, write the passwords and passkeys down and have it specified who and who gets the passwords and passkeys so they can get your crypto when you die.

[ellapurity]

If you die without handling your crypto to your friend or family is going to die along with you.

[WorldBiz project]

You should have a piece of paper with your wallet pass =)

[r32godzilla]

It's always better to have a backup of private keys in a hardware wallet and it should be stored in a secured place.S ince this life is full of insecurity,its always better to give details about our passwords to our loved ones.These must be the best options as many early bitcoiners have left their bitcoins useless forever after their death.

[Bionicgalaxy]

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 all of your crypto's will stay on your wallet, so your crypto's will be useless if no one in your family members or friends how to access in your accounts. So you better tell someone to your family members or friends how to access in your accounts in case of emergency for your crypto's will have a purpose of you die.

[JimmieA]

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.

crypto is a very high security system, if you don't give the information of your account to anyone then none can get the money in your wallet or sell your's coins. so you should backup the information about your wallet with password to somewhere to prevent the worst case can happen. maybe in a USB and give your relative.

[jagdeepjd]

I think that we already have offline wallets like trezor and ledger nano s. you can store your crypto offline with those devices and also if those things you mentioned happens you can (or the other person you inherited in case of death) get your wallet back with the help of seeds(code) they ask you to provide and write down.

[crypto.kaka]

give your,s account data to anyone family member maybe he use your fund practical in life .

[ololajulo]

a wealthy account is a good will but you had better not die now. I am not planning to die now, may God help me but Sometimes I advice you put all your password and pin on a diary and keep it in a safe place.

[ekeh]

crypto can not die, as long it survived passed three months, base on force news, with a high pressure, it think crypto currency com to stay, secondly crypto is a digital money that is acceptable all over the world. which we can see it as a virtual money. crypto is the best so far. 

[alroys]

To anticipate the things we do not want like this, we should be able to be open with family. I do not know for those of you who are not married, but for those who are married and have, we should tell your wife or your child your private key. in case of death to you, your family does not lose any assets you have. although they will lose you, this can also be called a heritage.

[Lubang Bawah]

When we are alive then all matters relating to finance should we tell the family or a trusted person so that when we die the asset does not disappear, and I've told my brother and sister that I have a bitcoin that I keep in coinbase and blockchain.info.

[00DKM@]

Surely you will lose them. By bitcoin there is no authorization or inheritance. they are peer-to-peer networks. So you can weigh on your wallet types and be able to share with your loved ones or family to maintain your bitcoin properties.

[rhomzkie26]

If no one knows about what you are doing here, then you have a lot of coins on your wallet such as in electrum and MEW all your coins will not steal  

by others unless hacker's track it all effort will be vanished but if not it will only be stock on your wallet forever.

[sana gull]

Surely you will lose them. By bitcoin there is no authorization or inheritance. they are peer-to-peer networks. So you can weigh on your wallet types and be able to share with your loved ones or family to maintain your bitcoin properties.

Yes that is right but i think that at least to you can write all your wallet or bitcoin related business on a paper or can save it in hour computer or mobile which your brother sister, your son or any other your family member can use to fin and can get your money that you have invested or earn in crypto world.

[ilovefeetsmell]

You're money is still there and no one could use it. You must have a last will to your loved ones or maybe have a list of passcode to open your wallet. If your family don't know any of them, the crypto will also die when you died.

[bitfocus]

keep the data (passwords, keys) to a bank vault and make a will to pass it to your children.