What happens with my crypto when I die?

[margarita_free]

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.

Do you want to try hold your crypto for your child?

[enwi]

if you die and you have lots of crypto then your crypto will be a treasure because no one can get into your wallet and take your crypto if you do not tell anyone about the password you have, so you should tell your walet password to your family or person that can be trusted

[Valzzz005]

Because you are your own bank then you have to put in a provision that in the event of any of the above ,then you have a way to recover your funds.
Death - if is a significant amount then you can always make a back up with a will and a solicitor will execute your wishes .
Fire - keep a back up some other place than your house
Loss - again you can make backups

That is true when you die nothing is gonna happen to your bitcoins it will stay the same just stock on your wallet and that will never be access my anyone if you did not tell anybody what is you passwords it is like an account in some technology if you die then it means you cannot access it anymore so that is how bitcoins also work. So my advice have a will and testament if you have a lot of bitcoins because that can be on your family if you die. And that is gonna help them instead of being forgotten

[SPQR_Legionnaire]

I keep my recovery seed in a safe at my parents home which is in another country to me. This is both as a security measure and for if I die unexpectedly.

[tunapa]

Everything ends after death, you are no longer in control of anything in the physical realm. Its eminent that our we keep safe our private keys, password, should be written on a paper or dairy to ensure there is last opportunity for recovery of your funds in case you lose everything. These details will help to login again to your wallet and be happy.

[Getcoinsite]

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.

I am very professional regarding my funds in this crypto community,thats why i make sure that every single details of those are accounted,secured and assured to be distributed incase of emergency and importantly when times of death,thats why my addresses and passwords are written in physical paper that attached in all my important papers that has been introduced to my son and wife,so incase of those situations i am sure my funds will be on right hand and those are my family

[Radio-Active]

Your cryptocurrency coin will be there, in your wallet forever if no one know your password.
I suggest you to save your backup, and give it to your family or trustable relatives.

[pekavcilar01]

After you die, nothing happens to the coins in your account. If someone else does not know your account, it will still remain. No one can reach it.
He goes with you to eternity.
No one can touch your accounts.

[PG13]

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 my own understanding when you die your coins in your wallet will still there as long as your dependents know your private key. You should orient your wife and children about crypto to make sure that they will continue or cash out your investments.

[pheonyx]

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 know what, it is a silly question indeed. But what I can say it's full of sense as well and I don't think there is a solution to this, what I am sure is to withdraw it, never put big amount in your crypto Wallet because if you lost your access on it or if you die, your wallet will be like be an abandoned paradise.

[russaa8]

if you die and you have lots of crypto then your crypto will be a treasure because no one can get into your wallet and take your crypto if you do not tell anyone about the password you have, so you should tell your walet password to your family or person that can be trusted

That's what I'm going to do. I think that family members should know about what I have in the crypto currency and how to get them later.

[benhill]

To avoid total loss of your crypto when you die is to let one of your child that you trust have access to your accounts that is, knows the details of your accounts,e.g password, email address, public and private keys and others that may required. The child that have interest and already in the system.

[vonnyaries]

from your post i read many possibiliteis with your wallet lost, as long you dont have any backup of your wallet like private key and other things i think its immposible to recover your bitcoin and other wallet, because the private kay is like encrypted code and nobody can reverse it, which is you will never open your wallet and can't do  some transaction while your private key lost

[3philong]

Sometimes I think of this too. And honestly, I think they will be buried with us. But with the other risks, I think we only need to store the security key is not a problem

[maitexisi]

You can only use your wallet with your keys and take out your encrypted currency.

If no one knows your key and password, it will be lost forever and always in your wallet.

[Cutieh01]

maybe there's nothing to do and if some years have passed the price of your hold is great, but it's best to put all your wallet info just as soon as your family finds it or you can tell them if you go procedure how to make money for not being able to work

I guess it is too hard to predict the time when we are going to die, don't you think? There are different ways on how people die, slowly or instantly. So, there is nothing we can do if we die and our family doesn't even know where our cryptocurrency is, and the cryptocurrency of yours would remain in this world because you can't bring it on the others side and trade, lol.

 
It's better to a make a testament of well to ensure that even when you're died your wealth or crypto has been given to  your heirs. Be sure that everything (private keys) are stored  in a proper storage and make a backup storage. Nobody knows when we're going to die it's better to be prepare than everything will be vanish.

[Ehrakeziah]

Your death is the end of whatever you have,it does mean,all of yours pertinent to cryptocurrency will be forfieted. There's no one can be benifited of that,unless you shared already to your love ones,relatives,or the others a lot of informations before you died.

[Babylon]

Nothing would happen to your crypto if your family doesn’t have control over it,
It would just be stock ,
The only way that you could secure your crypto is by using an off line wallet and make sure you have some back ups to the offline wallet incase you lost it.

[Spanopohlo]

PArt of the update was true to its senses making The crypto Inherited by the one you trust, making a last will and testament saying I leave all my earnings to my son and the passcode is given to you attached on this letter. YYou can also say goodbye to all your earnings when you just kept it to yourself never thinking about others and their wealth. So, just be practical and do what you think is right for both parties.

[satria2]

Nothing would happen to your crypto if your family doesn’t have control over it,
It would just be stock ,
The only way that you could secure your crypto is by using an off line wallet and make sure you have some back ups to the offline wallet incase you lost it.

It's true, it will not affect anyone until whenever the internet network can not be reused.