What happens with my crypto when I die?

[Macinto$h]

Your savings will remain. Nothing will happen to them. But since the private key is only for you, then you will have to take care in advance that your heirs will have access to it.

[crossabdd]

the basic concept of decentralization is that all control is in your hands. so 90% control and risk is yours. 10% are hackers. if it's about losing, whatever purse you use. the risk of loss persists. so use some back up for private key to minimize the risk of loss. if using hardware wallet. keep it in a place unknown to anyone but always visit. that's the best thing about me. no system is 100% perfect, all there is risk even though it is small.

[Gumpfire]

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 cryptocurrencies and bitcoin will just stay on your wallet, but if none of your family members knows how to access on your account or knows where are your private keys all of your cryptocurrencies will be useless, so better be ready because you don't know what will happen to you in the next day better teach one of your family members on how to access on your account.

[HiringYou]

If you will be dead then all your coins will be wasted.This is because your coins are stored in some online wallets which are only accessed with the help of a private key which only you know.So when you will be dead no other person will be able to access that wallets and all your money will be wasted.So in order to prevent this situation you should share your key with a person whom you trust so that he/she can use it after your death.You can keep a regualr check on your money so that the person with whom you have shared your key should not misuse your money.

[finlandais]

Simple answer to this question is that all your coins will be wasted and will be of no use, so the best way is to share your wallet key with your family member or the people whom you can trust blindly.All  the coins are present in the wallet and private key of that wallet is only known to us,in order to access the wallet we should know the private key,so if we want that our coins should not get wasted after we died, we should share the key with some trust worthy person.

[Soodo1]

It's a part of your estate.
You need to will it.

[uozer]

Actually, death and some inevitable incidence like fire, water logged or flood and so many others could lead to entire loss of ones Cryptos. To me, other than my cold or hard wallet like ledger Nano S when huge amount of coins are involved can be trusted in the hands of one's will solicitor[lawyer.] You only give the back up copy and be rest assured your coins are be-withed in to the hands of your heir even after your demise.

[S.R Rikto]

We do not have to do anything and if the cost of your borrowing becomes great for a few years, it will be better to keep all my wallet information when it is found by our family or you can make money in their way, you can tell them not to work. thank you

[Supremacy2]

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 love this question and it will help many investors think of ways to make their children or anyone they wish to take over their CRYPTO properties after they died.. My opinion, it is good to have all information about your Bitcoin assets on a written paper and keep it safe as document, you can as well update anytime you have additional information.

[SistaFista]

Nothing will happening. Your balance of crypto will be remain on your wallet. Unless there are peoples who know your wallet private key,
have your wallet file and password. If you have a massive amount of cryptocurrency, i suggest you to backup your wallet and give to your family.
Or give it to the peoples who close to you like relatives. So your massive balance will be keep circulating in the supply.

[jonas5222000]

I think it will gone too,unless you have heritage by your own relatives ,and if you do that it will give to them a useful and very helpful things,but make sure that if you gave your private things ,it will be eligible to handle your own things.

[Pettuh4]

It's simple! Just have your private keys printed and kept buried somewhere and then you leave a clue in your will to guide them find it. I don't think you should keep your private keys to the extent that you loose all that value when you are no more.

[adjong]

For me i figure you can utilizing on the web wallet for it, since individuals who you give your private/mystery information like email address, secret word and private key of you wallet can get to it.his deposit box will only be opened when you are gone, that way you get to pass your cryptos to the next of kin, or else they will lay idle i your wallet forever.

[AVAMONEY]

Your crypto will live forever, or at least until the last miner turn off his computer. Your cryptocurrencies are still in the internet but it depends on you if you have person that will inherit your bitcoin like someone that you really trust so if you did that then your bitcoins will not just die and it will continue its life from a new bitcoin user which is the person that you trusted to inherit your bitcoin. Or I can say the best solution is keep your wallet details safe and pass it on to your family members or offspring so they can have access to it if death occurs anytime sooner or later.

[nevergone]

I think all of us should backup our password to other people we trusted, otherwise we may lost our money if we suffer an accident, because private key is everything in crypto world

[Babycuteless]

when i die the crypto is still alive for me only the crypto will be forever.

[muarip]

Your virtual money will always be there until the internet network can not be used in this world again even though you have died it will be stored safely and can not be used if you do not provide important information about the virtual currency.

[allthingsluxury]

Similar to those who have done some infamous "midnight gardening" and forgot to tell their loved ones before they passed on. It is lost.

[pjr77]

if you do not leave data to your relatives, nothing will happen. Your crypto currency will remain on your wallet, and no one can use it. so if you want to be of use to them after your death, give the relatives the wallet data.

[valisa]

to avoid such things we have to back up important data about the cyrpto currency we have, so that when we die it will be inherited to people who are entitled to our heirs such as wife and children