What happens with my crypto when I die?

[bitcoinjasensatom]

At this moment, Bitcoin is anonymous enough that it would be unfeasible for example to entrust your Bitcoins inheritance. Perhaps with the development of cryptocurrencies, it will be possible to connect some of the wallets for crypto, which would allow for the transfer of funds that would be lost. Everything before us remains only for us to wait for the situation to develop.

While we are still living we should educate our family about cryptocurrency so that time comes that we gone in this world our successor will  know what to do with our crypto's. Be sure that private keys are stored in hard wallet and and have a buck-up storage for safety purposes.

[innocentlamb]

i never thought of that to be honest and that's a very good question. I guess in the most cases, the coins get lost forever if the owner dies, but there are for sure some people which think of their relatives and maybe leave a note or something in case something happens with them. I'm still unsure how I can do that, but I'll find a way to inform my family about my crypto portfolio in case something happens with me. Thanks again for the thread!

[Polkadott]

this is why we have the heirs of our cryptocurrency assets. So the family is good, we have a successor if we die and of course before we die we must tell our family or our children if they have it

[popelene1]

You die then you bitcoin die with you unless some of your family or a friend of yours have access to all your login details for the access of your account..

[libert19]

Your coins will be literally considered burned from supply. However, just few days when I was researching for bounties, there was an ico that said to give solution about "you lose private key, you lose all" problem.

[bololord]

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.

PArt of the update was true to its senses making The crypto Inherited by the one you trust, making a last will and testament saying I leave all my earnings to my son and the passcode is given to you attached on this letter. YYou can also say goodbye to all your earnings when you just kept it to yourself never thinking about others and their wealth. So, just be practical and do what you think is right for both parties.

[Bounty_Manager100]

When wallets are lost like your hard wallets or your cold storage then your crypto will be floating in the air like nobody cares what it was.  You know we can't foretell our future's of what's gonna happen, if no plan at all with our crypto it will just stay as is in our wallet.Maybe I am selfish, but my coffin won't have pockets to keep bitcoins there, I have no intention to take them to the grave.

[sicnarfwb]

This is the same as you put your last will to your family before you die to ensure that everything is in good place. Having a crypto  online wallet savings must be visible to the person youve trusted to overcome the risk of dying. You need to risk to trust some for atleast when you die your crypto will not die with you.

[Btcmicel]

This is the same as you put your last will to your family before you die to ensure that everything is in good place. Having a crypto  online wallet savings must be visible to the person youve trusted to overcome the risk of dying. You need to risk to trust some for atleast when you die your crypto will not die with you.

Well if you want to continue your crypto just tell the most trusted person on your family. Either teach them what's going on in crypto. By time that you left for good that person will continue your journey with crypto.

[johnwest]

My suggestion would be write everything in a diary or paper, with seeds, account details of exchanges and other important stuff then keep that in Bank locker. It will be inherited to the person you want to after your death. I guess thats the most easy way.

[Jerzzz]

Your crypto will stay as is in your wallet since we do not know when is our time end. You have to make a definite plan as where to store your crypto. Make a statement that your love ones will know about your assets indicating the procedures on how they can get their wealth from your cryptos.

[Firefox07]

If you die and noone knows what are your password or private key. Then your bitcoin will die too. So before you die. Tell yoir wife about your private keys. So that uour bitcoin will be enjoyed by your family.

[PM.coins]

good question. the death of no one knows, but that's for sure. but at least you can start teaching someone you are entrusting to take care of a crypto account. may be wife / child. or a believer. in contrast to banks that have complete management governance that has been arranged neatly.

[superman99]

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.

COMMAND that that you did not exist to. Time to yourself to be need for the problem for this problems.

[victorski]

I think that you need to have a person to whom you are ready to entrust information about your wallet. Without a secret code, no one can get your bitcoins when you die or lose your wallet. And this is a serious problem.

[christina30]

We can't predict what's gonna happen if crypto will die.But for me I choose to believe that it will not happen because it's a big opportunity to everyone that crypto came into our lives and we can share it our child for the future so I keep having positive thoughts

[sunnyevening]

It will be just there I think. or may die with you also with the fact that you're the only person that knows your account credentials on your crypto wallet.

[neite99]

there were so many projects regarding this issue in a blockchain system but as you said the ways are always the same and traditional, personally I would give them to my brother who I do believe and if something happens he could take charge of things.

[chrismartin]

As this things will happen mate, i think that you bitcoin will be stuck forever because no body knows on how to open your account. Unless that their are somebody know your seed or private key in your family or friends.

[hdtqisg]

An interesting question!
If you do not share the private key with anyone, when you die, altcoin will follow you forever!
You can leave to others by bringing the private into a puzzle for those you love!