What happens with my crypto when I die?

[lani123lani]

if you die, your cryptocurrency will die down with you too. but the best way I know is you have to explain your family members about Bitcoin and give heirs to trusting children or relatives, and they should know the basic idea of what is Bitcoin and how it works Bitcoin transactions. so your crypto is not , siya- if you die because there are already heirs.

[swiftbits]

The thread is really fun to read, those are really possible, well for me having back-up and keys given to someone you really trust is better, it's like they became the beneficiary of you crypto wealth as well the one who will continue your cryptohub journey.

[crypto_the_river]

I've heard about some projects that think about testament on the blockchain.
Such solutions even have been integrated in a new kind of wealth managemene, retirement planning systems and so on)

Luckily, I had no possibility to prove its operational state)

[Rana590]

It will be still available on your account. Generally it is a virtual currency and for this reason you need password, private key and others necessary details. If you give these information to your family/friends, they can access your account after your death.

[Noctis Connor]

nothing will happen: your crypto-currencies will be lost. so if you are interested that this does not happen, just indicate the details of your wallet for your relatives, and it is desirable to indicate it in the will. and then your crypto-currencies will be safe and sound.

as bitcoin exist we can use it well when it may have to die for there is a possibility that it may looks for nothing we should have to aware if this can be happen try to just store it and if there is no other way cause bitcoin totally die then it may look for you cant get anything on it even buying for anything you want everything will be useless.

I will leave my crypto funds to my successor if I die, as long as the crypto world exist it is still a good thing that to have your own legacy in maintaining your bitcoins and funds, perhaps I will give it to my relatives and other person who have an interest in crypto, It is also a good sign to invest it in some properties or things that is usable.

[Escan0r]

If you prepare as you want to inherit your relatives and keep the privacy key to access your wallet. It might not be worth it because it will be useful to the person who left your crypto currency. Hopefully they understand who accepted your inheritance.

[T.TAYLOR]

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

[putriliesma]

if you die and your crypto currency no one can access, i'm sure it will be gone forever. because no one will know that you save the crypto currency in your wallet. if anyone knows also no one will be able to access.

[jesse kaplin]

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.

[SemaVaflist]

I usually stay here in try to read as much as i can including all posts from everyone. I think it really helps to improve your info about the crypto market. Now this topic is also one of that i liked to read most.Or you can give your wallet password to someone who you trust like your wife, mother, father.

[MobyCrypt]

There have been sone decentralised solutions attempted, one was a project called MyWill, I don't k now how it ended. You may look for that.

[Nasonn]

To avoid your crypto dying with you, I suggest you find someone trustworthy enough it may be a family member and one who understands cryptocurrency and entrust your keys with the person. You can as well write it in the form of a Will.

[penguincomel]

For example, we died, if not given to others to manage our cryptos. Then crypts that we save will also be abandoned just as well. Therefore, it is my opinion that it is best if given to the second person to manage the crypto we store. The stored cop can also be taken and used by the second person to manage all of our funeral matters.

[thenxinhang89]

I recommend choosing an optimal backup method. You should let a loved one know your wallet. your trading account. and the money you are investing. It may be a silly idea, but not, that would be a fallback if you die. like me. The closest person who knows about cryptocurrency that I trust is my brother. He will keep his wallet address and password, account name and password on my trading platform

[crypto360]

Simply if you are married tell your spouse about your every investment in crypto and if not tell your siblings

[Mariela]

Well everything will be goes to zero.. your Crypto will also die. Unless there are other persons who are knows your password or your account.

[wahyu5]

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.

Humans are social beings, which means we have to socialize, build good relationships with anyone and maintain mutual trust in socializing. Thus if we have a crypto and want to pass the crypto to the person we want, then teach him the way of crypto transactions and others and give the crypto password we have to him, I think it is not difficult, but sometimes we ourselves always complicate so that we eventually become confused or anxious about the situation we create ourselves.

[abhi777]

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 before you start investing you are already thinking about all the possibilities and how to solve the problem in your bitcoin storage make the storage with code and the code is known by the person you believe it is possible to make your bitcoin safe in case of bad things that we do not take into account

[dongosquad]

if no one knows you have a cryptocurrency asset then that asset will last in your wallet, unless someone is able to hack it. So I suggest to share to your closest people related to the assets you have, just assume inheritance

[warwar]

well it is obvious too that  it is useless and no one could used your crypto if you die unless there are person who knows your private key wallets that could access it after you die. You coin still intact with the market, it pumps when the price goes high and dumps if  it is red days . It is consider it a useless coin because no one could use it. Example you do have  a bitcoin in 2010 a 100 couple of bitcoin then after that you die then the price now is big so if you havent told anyone your priv key then it stays  in your wallet.