What happens with my crypto when I die?

[davison2]

Yeah its really an issue, because if there is place for a next of kin, you have to look for a person who is also in the cryptocurency business to know how to go about it. Its wonderful that somebody has pointed it out, i hope something will be done about it.

[russaa8]

We need to figure out how to protect this information from strangers and how to pass it on to our relatives in the event that something very bad happens to you ... The main thing is that this information does not fall into bad hands ...

[Coinlover9]

Well it becomes part of the abyss

[Sakhawat169]

If you are die,your crypto die with you too. :
So, you can share with your close friend about your wallet,may be your familly member find your crypto.

[pekcoin01]

After you die, your calculations will die with you forever. Nobody can handle your password unless you know someone else or if someone does not find your password.
Maybe hackers break your cipher on the network and steal all your tokens.
What are you going to do after you die? Enjoy hell: D

[Blockpass]

You should make a will before hand with your wallet details so it can be accessed. Alternatively, keep a physical record of your account details and tell someone you trust where to find it if need be.

[tanginamoo]

If the holder of the crypto died, definitely the crypto will be joining your death. You are the only one who can access your crypto then no one can touch it id you die. But the thing will have a different result if you have someone that you entrusted your account or wallet.

[Stormyblue]

This may seem funny but it is very realistic. A friend of mine just lost all his devices to which he saved all information used to access his ether and bitcoin wallet. The solution should be to store it online, where you can always access it. That is one advantage of using crypto currencies: that you can always access your wallet wherever you go and with whatever device. As to the question of when you die, I believe you can always make provisions for the one to inherit your properties

[Erlinda Santiago]

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.

we dont know maybe just for sure you should tell your account to your relatives so that you can inherit it to them  so they cn use it in their future

[gjtnwls1]

If you are the only person who know what you have and private keys, you better share with one of family member (spouse). Also you better to backup all information other than your computer in case you are not able to use your computer.

[toast]

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 think investors are already considering and planning ahead of what happens if the owner of the investment dies later, maybe they've made some sort of lock code stored and told their trust person

[dedelp01]

question that no one knows. I think it would still stay there even if the coins will die. And another thing is that BTC cannot die that easily.

[DanyJr]

Choose someone who behalf of you take yous cryoto.

[AnthonyLa]

Your crypto will be save here even after the death of yours.

[ClarenceDo]

Give the password of your wallet to someone whom you trust.

[BlakeMye]

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

[Crypto one]

Your crypto will live forever, or at least until the last miner turn off his computer.

[PaulTrace]

I think the best solution is give your personal information to your wife or your mother.

[taxli]

Silly question, I agree. I think your son or whoever else can inherrit your wallet with all of the funds on it as well

[cryptoloverlife]

Backup methods will need a lot of changes in the technology itself. This is a trustless system, which needs the intervention of the person holding bitcoins. No one else should be involved. So better to take precautions at owns end, probably make a process documentation for recovery and put it in your legal will