What happens with my crypto when I die?

[Geor]

I never thought about this issue. But after reading the comments, I saw so many options! But I always have data to access my wallet on paper and my wife knows about it.

[usamamalik555]

Nothing will happen it will.be stired in your wallet forever.so before that happen why not try to share youre private key to one member of your family so that even you died they have access.pick someone whom your trust much.

And don’t forget to teach someone from your family how to use it, if they don’t know. As for me, the best option is to give private keys to your trusted relative. Or if you don’t believe anyone now, maybe you can put this information in your last will. But I don’t know whether it is possible.

[bmirror83]

We can keep our cryptos into the hardware wallets or online ones. We have the secret keys. Like we do for other assets, we can put them in a bank vault and then give a power of attorney to our lawyer that he/she can reach the ones we want to leave a legacy.

[jchav010101]

It is better to have a backup of private keys in a hardware wallet and it should be stored in a secured place.Since this life is full of insecurity.It is 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.We better inform our family members on how to access our accounts in case of emergency.

[Dayan1]

It is better to have a backup of private keys in a hardware wallet and it should be stored in a secured place.Since this life is full of insecurity.It is 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.We better inform our family members on how to access our accounts in case of emergency.

I agree with this statement , if your feel unsecured and you are afraid because life is to fragile that you might passed away in any time,you should give some information to your love ones most especially your family, just in case you past away well at least your work or your hard work in crypto will not thrown away. I guess crypto should also address this problem just like in banks it has a beneficiary so weather you are ill or not , your investment is safe.

[MarioV]

This problem is very difficult to solve. I think that you must teach the heirs this world and give them private keys only when they are skilled and not before you are dead :-)

[Crypto Mark]

One of the characteristics of a good business is insured or can be generated to family or children. London that launched insurance for Bitcoin is a good example.

[suse100]

Crypto is a financial asset.

I dont see any difference between crypti, gold, property or bank account.

So, i think there will be no problem to do anything you want with crypto after death.

[chriskins]

Crypto you have earned, bought or invested in, is just like any other business ventures, your password  and private locks is there, so your closet relative should know about your source of income. And you should have a jotter were you write about your business and how it's been operated. Since it's not a finger print locked business, it can be inherited by your spouse.

[HelenS]

Can I hand my crypto down to my children? 

[Chopmoney]

I think all securing crypto if there is something we do not want to happen simple solution we backup our data to offline,
inform the heirs about this, hopefully later our heirs can continue this

[Pasaway2701]

Nothing will happen it will.be stired in your wallet forever.so before that happen why not try to share youre private key to one member of your family so that even you died they have access.pick someone whom your trust much.

That can be work. Let one of the family member knows about your account and at this early teach him how to work on it and how it is being use. You can also save the money from the bank if you have no time to tell them because it is more safe and your gonna leave without worrying about your investment. Even in the bank it will grow, not much as you earn in bitcoin, but more safe on where it is.

[cutecute]

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 if you die your crypto will gone because no one knows about what happened to you except when you give it to your love ones or you waiver it to your family. Actually I didn't know what is the possibility to happen because I don't encounter it and I will not encounter it because I'm the only one in my family that are working here in cryptoworld

[ayubadairo]

In 2013, 26-year-old bitcoin miner Matthew Moody died in a plane crash in Chico, California. Today, his father Michael is still trying to unravel the complicated issue of cryptocurrency inheritance.

[KID_28]

Some wallets have up system i think. For this, i think you should add this to your will. The acct and the password you use.for your heirs and heiress, you should leave them anpuzzle or antreasure hunt to unravel your password.

[crystalworld]

Your crypto is safe if you share your sources of income with someone or remain on line for as long as that particular coin exist because no body can access it expect your account is been hacked.

[Jacsnuffles]

I once read here on BTT a story of a family whose father died in a car accident. Then figuring out the password to the hardwallet was or still a problem to them because the father shares it to no one. I thought about it the moment I read it. And I make sure that it won't happen to me that I left my family with nothing. I bought a vault that contains my passwords and talked to my trusted lawyer about the things to do like a normal will of testament's purpose, the rest of the details are private. Invest in yourself in for your family. You'll never know what will happen next, so always be prepared and considerate.

[Allura74]

Nothing will happen it will.be stired in your wallet forever.so before that happen why not try to share youre private key to one member of your family so that even you died they have access.pick someone whom your trust much.

That can be work. Let one of the family member knows about your account and at this early teach him how to work on it and how it is being use. You can also save the money from the bank if you have no time to tell them because it is more safe and your gonna leave without worrying about your investment. Even in the bank it will grow, not much as you earn in bitcoin, but more safe on where it is.

Crypto-currency is a decentralized system and if times that people die and he/she has an asset in the field of crypto then no one can claim it since no other party involve, unless the password and other important wallet key and exchanges password and the specified e-mail as well.

[Intensity13.6]

If no one knows for having you in crypto,it will be stored in your wallet,or if time comes that there's a professional hacker that can hack your wallet it can be possible to happen. Much better if there is even a one of your family member also knows your wallet,password and private key.

[Kanda Yu]

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.

There are possibilities that your crypto will stay on your wallet forever but you can change that by lending some of your money in the banks and admitting it to one of your loved ones so that your earnings wouldn't go nonsense. Some people just let their crypto die together with them without anyone benefiting from it.