What happens with my crypto when I die?

[tiurminator]

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 lawyers, 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 such a product. But again I realy do think it should be built decentralized and trustless.

UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?

Your crypto will die with you.  This is sounds like a death metal song title.  LOL.  Yeah this is one of a problem about crypto, because we have to keep private key private, like people said trust nobody.

[1714795950]

1714795950

[GabiGoal]

I do not see a fundamental difference between access to the Bank account and access to the wallet where the cryptocurrency is stored. Both can be foolishly lost. Similarly, all this is easily transmitted when necessary.

[Bulljcak]

I want to put your hardware wallet safe to your family, so is a good way, if you suddenly died, so your family can be extracted by your hardware wallet to go out of your digital currency assets.

Not all death comes naturally.I will inform my  family about btc so that when the sudden death come,they already know btc.

[win365]

I suppose it will be stored on your wallet where do you leave it, before somebody will hack your wallet or other option you can give the passwords to your family or friend who would be able to withdraw money and give it to your.

[inv_ker]

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 lawyers, 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 such a product. But again I realy do think it should be built decentralized and trustless.

UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?

It is like, "What happens to my house when I die?", right? So first of all, I assume that you definitely need to share it to your family. Needless to say it, but it is true. Do not be greedy and selfish to your family.

[taeewo]

You already know what will happen to it if no other person has access to your private key, pass phrase or login details except you. Its a permanent and forever loss when even the developer cant have access to.

[dedi joni]

It is like, "What happens to my house when I die?", right? So first of all, I assume that you definitely need to share it to your family. Needless to say it, but it is true. Do not be greedy and selfish to your family.

If all could be planned, but when death comes suddenly and never anyone know. We haven't had a chance to tell all of the assets of our crypto wallet or exchanger. I think all of that will be lost if a family of no one knowing access to crypto.

[CryptoGuro1]

If you die without a plan then its your own fault. The safest way is to keep all crypto on a hardware wallet and then have a copy of the seed locked away in a safety security box in a bank or something, then leave a will to access to whomever you chosse

[tamradhwaj]

if your family dont have any knowledge about crypto currency and also dont know about your wallet's  private key. then your assets is hidden treasure for them. and that treasure can not be recover without private key. so its better to educate to family about crypto currency and tell them to where u kept your private key.  or  before u die make a note about your wallet  n key n mention instruction how to use it.

[Zhess Miller]

I guess it depends, if you leave instructions, passwords, email account info, in a will, trust, or with family, sure its attainable. If not, then its the same as if you lost your private key, it's gone. I use encrypted excel files with everything saved on password protected thumb drives (seperate copies) with family, and two additional ones in my possesion. Don't leave in a bank deposit box.

[Miguel Fulton]

Your Crypto won’t know you’re dead. So they’ll just wait patiently, living undisturbed on the block chain. Incurring value.

4 years after you pass, you will be worth billions. But not one will ever know...

[popelene1]

You crypto too die along with you since you the only one with  your private key and no other people can get it to withdraw your  coins.

[chopperchopper]

Perhaps there's nothing to do and if a few years have passed the cost of your hold is incredible,
yet it's best to put all your wallet information right when your family discovers it or you can let them know whether you go method how to profit for not having the capacity to work

[anume123]

Of course before you get lost in the cryptocurrency field you need to point it out to your friends, cousins or family because they just benefit from being able to keep the cryptocurrency started.

[boksoon]

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 lawyers, 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 such a product. But again I realy do think it should be built decentralized and trustless.

UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?

No other option to recovered  your all  bitcoins and other alt coins except to shared your complete details to your love once in case you will die  that's it.

[JovhanHermias]

Crypto will never die, maybe weaken but it will never die. It already proven itself the the community for over many years and pass so many downs and struggles so i say that crypto will never die.

[heartwreck]

Maybe its time for you to make a notes and indicate their all your wealth including your cryptos so that your family will benefit from it. hahaha

[Akenosi]

Hackers will break your computer and take all the Crypto currency, so do not worry - they will find the application

Which hackers will break into your wallets thats without your private key, am sure you dont really know what you are saying   as regards the topic.

[Ekimzjames20]

Hackers will break your computer and take all the Crypto currency, so do not worry - they will find the application

Which hackers will break into your wallets thats without your private key, am sure you dont really know what you are saying   as regards the topic.

Well that stage we can't predict what time we gone, only god knows. I think it's much better if we teach our partner on crypto on how it work, so that when we left, our hardworks in crypto will continue, and pass generation by generation.

[linlinhl]

I think one will also forgive with important information about wallet details including private key with a reliable lawyer who will deal with death and fire and loss of utilities, backup will is an alternative to recovering wallet information