What happens with my crypto when I die?

[Pepito Manaloto]

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.

Certainly, nothing bad will happen to your bitcoin when something unfortunate occurs. The only bad thing happening is that all of it will be buried together with you if you are not going to make a way to ensure your belongings to your loved ones. If there's nothing the bitcoin community could do, maybe it will be better if you make your own way for the sake of your family's financial security.

[jemerson1420]

i think the crypto account is will be blocked by holders.

[henry80]

If you died by your age, it would be 20-30 years ahead, right?
So the question is: Has blockchain been replaced by other technology? no more cryptocurrencies, it must be quantum currencies or smth else.
Crypto will be vanished!

[Saveralll]

it's better to pass on to someone I trust and really understand the world of crypto. if I leave it and I'm not inherited then all my bitcoins are wasted.

[Marrionbitcoin]

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.

Well, obviously it will just keep on your wallet unless you will give the password to your family or trusted friends or relatives. Just don't think negative but let's all think positive on how to spread the benefits of Bitcoin so that they will invest too and the price might increase.

[Mekmbem]

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 and no one can open your wallet then your crypto will be locked forever in the wallet

[sultanGol]

I do not have any safety method for the case it happened, but it is a good thought, I guess I should make some guide for that.

[mrben77]

If the owner of the bitcoins dies without transferring the private key, his heirs can find the wallet and only then realize that they will never get access to the funds on the account. To prevent such scenarios, the owner should only make sure that someone will receive a copy of the private key after his death.

[Froloff92]

Anyway no one tells it all. It does happen and it maybe anytime any day. But my humble advice is you can always share your private key with one of your trusted member of the family.

[Gabb]

This is an issue that has long been around my head, especially in these days when because of security protocols I had to spread my bitcoins in a lot of wallets to avoid the massive loss of all my cryptocurrencies in case of a hack.

But I can not find a practical solution to solve this problem. Everything seems to indicate that if by some unexpected accident I were to die, most of my bitcoins would be lost forever, however I have left it in writing to a relative some keys to try to recover some of my hidden bitcoins, but given his little involvement with this technology I have no doubt that this would be a difficult task for him.

[Tommy len]

The hardest part of crypto currency is listing of pin and crypto wallet information. 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...

[Indai24]

This is an issue that has long been around my head, especially in these days when because of security protocols I had to spread my bitcoins in a lot of wallets to avoid the massive loss of all my cryptocurrencies in case of a hack.

But I can not find a practical solution to solve this problem. Everything seems to indicate that if by some unexpected accident I were to die, most of my bitcoins would be lost forever, however I have left it in writing to a relative some keys to try to recover some of my hidden bitcoins, but given his little involvement with this technology I have no doubt that this would be a difficult task for him.

Why complicate things wherein you can have a simple answer to your question, find at least one person whom you trusted the most like your mother or siblings. So whatever happen everything is safe.

[Yohr87]

Death is unexpected, unplanned and no one knows when it comes in our life.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 .

[oracleongoodbye]

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.

[justin0062]

You will not forget that your wallet is owned. Maybe it still has your assets and coin in it. If not then your coins will be your monument to the blockchain.

[Janation]

it's easy to give all your assets passwords to your child or family. because it can be a family heritage or we can donate to people who can not afford. like a poor man .

Do we still need to think about our crypto currency investments when we die? We can just include the private keys to our last will since they will just take care of it until you die. When I know that I am dying, if I am did not die in an accident or any of sorts that will kill me instantly, I will be giving most of them to my family since they are the one who deserves it, some of them will go to charity but not directly the cryptos I am holding but the money that I will be giving.

[duc4487]

That does not sound silly at all! Sometimes, I myself think that something bad happen to me, what happen to my asset. Because with crypto, you save your money in your own wallet, in case you won't tell anyone about it, or don't have a plan. Then those crypto will be in your wallet forever. So at least find some one you can trust to entrust your asset. But if death is about aging, then who know will those crypto will last until then.

[Sampson7]

I figure you can utilizing on the web wallet for it, since individuals who you give your private/mystery information like email address, secret key and private key of you wallet can get to it.

By along these lines don't stress in the event that you lost your equipment wallet and possibly got mischance (I trust no and I trust you generally wellbeing with your family). You can give your private/mystery information like I say before to the general population which you super trust and depend on. You can disclose to him the motivation behind why you do that, similar to need to hand down to your kids when you get mishap, or some another issue .

In any case, you ought to be savvy to pick individuals, bless your heart

[godrey123]

obviously when you don't tell any person when your private key before you die. then all of your crypto will be waisted and stock! no one can recover it! so I suggest that you give your private key the most reliable person in you life. In that way if yiu die they can benifit from it.

[demonist]

Find a Trustee, make a will with a quest and play your cryptocurrency among relatives. by the way very interesting subject, he thought of it.