What happens with my crypto when I die?

[Boov]

Because you are your own bank then you have to put in a provision that in the event of any of the above ,then you have a way to recover your funds.
Death - if is a significant amount then you can always make a back up with a will and a solicitor will execute your wishes .
Fire - keep a back up some other place than your house
Loss - again you can make backups

Okay , bitcoin is owned by an unknown company, atleast for me because I haven't seen the company of bitcoin and for me even if it is owned by a company that is widely known , the  rules here in this world of virtual currency is that we can secure or not our investment, the only way to secure this type of investment is through paper wallet and I do not see anything that we can do if ever you die,your investment will just be put on waste.

[12tribes]

Technically it dies too, as no  one is able to access it without your passwords and necessary details. to be on the safe side, write your will today and include where you have the passwords hidden somewhere so that when the inevitable happens your folks know where you have been saving something for them.
Don't die soon Mate!

[VK.point]

There is a project that allows you to make a will and dispose of your crypto-currency assets. This is based on smart contracts. Smart contracts control the fulfillment of your will. So at the moment it's not a problem.

your answer a little to make my heart relieved. because this is important. I can not predict crypto in the future, but at least I've made anticipation if I die. thank you

[burakdat]

Well definitely it will get higher and well had a good market price in the near future but in return you could not enjoy it anymore so what you should do is to disclose your btc holdings to someone dear to you because as we all know that btc could be an asset that could pass on the next generation and the good thing is that it will be enjoyed and it not be on the corner just gaining more increase in  value but no one could enjoy it.

[tungaqhd]

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.

It will stay in the system forever or until the system down because nobody know your private keys so it cannot be decrypted.
You should write down you private keys for your wife, kids so you won't waste your coins when you die.

[eydrea]

I think if bitcoin owner dies his/her coin will not be passed to his family. i think that your bitcoin will follow you forever because no body knows on how to open your account or wallet. So if a bitcoin owner dies without passing his private key, there is no way his/her heirs gain access to his wealth on cryptocurrency. So to prevent this , a owner must leave a copy for his/her heirs to have a access by writing down, storing it on trusted storage or to use a service that can manage it.

[Bitcoinnumberone]

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 the value has no value at all. Cryptos will not die because people need bitcoin to transfer money you need to trust bitcoin people think its risky but you have to do research to know how to use bitcoin and btc wallets according to what country you live.

[Tashi]

There is a project that allows you to make a will and dispose of your crypto-currency assets. This is based on smart contracts. Smart contracts control the fulfillment of your will. So at the moment it's not a problem.

Wow this project is something interesting, I really hope that it is real. Also, I wonder if this project could help you with securing your own cryptos for your successor, that would be totally cool!

[Kamal Zenda]

If a Bitcoin owner dies without passing on the private key, he lost your money so we all should think of a backup plan in case something happens. I showed my brother where my backup key phrases are.

[Larrycool]

If you die, everything goes with you, except if you write all your wallet or bitcoin related business on a paper or can save it in hour computer or mobile which your brother sister, your son or any other your family member can use to fin and can get your money that you have invested or earn in crypto world on your behalf.

[MartinAK]

The issue of death by bitcoin holder becomes really big issue when there are no good measures in place to make such wallets accessible by another. This will affect a lot of coins when they longer become accessible by reason of death. I believe at least we should a trusted person to share our password with so they can access them

[Gdra467]

Such an interesting question. I think once you have some good amount of investment in crypto, you have to find a clever way to bequeath you successor with the information the need to know without having to necessarily disclose everything plainly to them. You can cleverly store your information on a cloud account so the one who finds out mistakenly cannot unlock things easily.

[improvegoup]

If you die, all of your crypto will die with you. Therefore, I think you should leave your private key to one person, who you trust the most. in case, there are something bad happen.

[Amarantcoral]

When you dead , does it even matter ?

[charlemagne_15]

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.

Your cryptocurrency or coins will stay as is if ever you will die. I mean no one will have any access to it so it will probably be remain or dies with you unless you told someone your private keys regarding your bitcoin. I suggest that you do it for a reason that your compiled coins will not go to waste. More importantly your beloved will use it if ever you will leave this place.

[Chaelbrin]

Since you are your own bank then you need to put in an arrangement that in case of any of the above ,at that point you have an approach to recuperate your assets.

Demise - if is a huge sum then you can simply influence a back to up with a will and a specialist will execute your desires .

Fire - keep a go down some other place than your home

Misfortune - again you can make reinforcements

[Dana-pasar]

I will use it for the future of my family and child bro. if I die. and partly I will use to help people who can not afford and to the place of worship gan. because bitcon is an asset that we can inherit to the family ..

[rossr1]

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

It is a really good idea about our Private keys and passwords. Still, must be one person that we trust in all. Because if we don't tell somebody that information our money will disappear.

[stefy77]

I'm sincere. I will take them with me to the crypto-paradise he he he.

[bananaohnana]

There is a task that enables you to make a will and discard your digital money resources. This depends on savvy contracts. Shrewd contracts control the satisfaction of your will. So right now it is anything but an issue.