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Author Topic: Your Wallet Keys and Passwords should be known to you and you alone. Yes! But...  (Read 2318 times)
nuraziaaziz
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November 13, 2018, 05:29:18 AM
 #161

Yes definitely. It works the same way like ATM machine. If you want to access the card, you need the card and also your password in order to be able to withdraw and deposit the physical money. Basically any individuals who has the card and knows the password are able to access to it even though the card is not belong to them. Same goes to your wallets keys, it is best to keep it to yourselves for your own safety. If you are not careful enough, all your money will be gone.
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November 13, 2018, 06:14:13 AM
 #162

Yes, we should do that. Because nobody knows when something is going to happen that we might not be able to talk, walk, see or write. So I personally would leave a trace to my crypto asset to my younger brother that can help him get access to my wallets in case I am gone. Because I believe him a lot. 

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November 13, 2018, 06:30:22 AM
 #163

My wife knows about my online activity specially where I store my crypto assets. She knows where I store my passwords in case of emergency but so far she never laid her eyes on it. She didnt even try to ask how she can get it. I was afraid of that as well that when time comes like emergency and I need to liquidate my crypto assets but I have no access, my wife needs to know how to do it.

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November 13, 2018, 06:40:12 AM
 #164

My wife knows about my online activity specially where I store my crypto assets. She knows where I store my passwords in case of emergency but so far she never laid her eyes on it. She didnt even try to ask how she can get it. I was afraid of that as well that when time comes like emergency and I need to liquidate my crypto assets but I have no access, my wife needs to know how to do it.

In my side, I'm the only one who knows everything because I don't have someone to trust, good for you that you have your trusted wife. This is also advisable that someone whom you trust must also know your passwords just incase.

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November 13, 2018, 06:44:40 AM
 #165

Well of course that would be something to consider since you would have to have someone to leave your assets to in case something happens to you. Though not all family members should know your private keys and i don't think everyone would understand how that would work but at least your most trusted kin should have access to it.

Sort of true. We do not know what might happen next therefore we should be ready in all aspects. Do not easily trust, rather have someone who will be trusted the most. And also do not let them have the access realntome in which they can control it in an instant. Be smart enough.

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November 13, 2018, 08:29:01 PM
 #166

Yes! You need to protect your wallets against any possible theft or hacking. You must protect your private keys and wallet passwords. This is a must for everyone, else your coins will be stolen.

The frequent warnings of ensuring you protect your private keys from anyone seems to have eaten too deep into almost everyone of us in cryptocurrency. Some of us have forgotten certain realities of life and cryptocurrency wallets which I want to warn you about. My warning is mainly targeted at anyone who has a family, or at least, a child. You must leave a means or trace that your family will be able to access your wallets when you are gone. I mean when you are below 6ft. Each one of us will die some day. No one wants to hear this, but it is the absolute truth. If you suddenly die today with your secret keys and passwords unknown to your family, your coins are lost forever. Your crypto wallet is not a regular bank, so no way your family can claim your many crypto wealth online.
Don't be selfish. Your family or wife or children must not suffer when you have so much Bitcoin or other coins trapped in an inaccessible online wallets.

Remember your family and loved ones.

You have a very strong and uneasy decision to make today.


Well said many people has taking this notion of keeping private keys in a safe place to something else forgetting their family and love once, it will be a bad reputation having huge amount of coins online that worth billions of dollars and your family suffering when you are no more. So it good no only to tell the about your secret keys but also carry them alone because private key might be uses with knowing what to do with it.
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November 13, 2018, 09:16:25 PM
 #167

your point are well received, but trust is a very key element here. i am of the opinion that such information should be willed to ones family after ones demise, because you may loose your funds to a close family member who has details to your wallets, willing it will ensures anyone has access when and when you are gone.

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November 13, 2018, 10:27:26 PM
 #168

Yes, we should do that. Because nobody knows when something is going to happen that we might not be able to talk, walk, see or write. So I personally would leave a trace to my crypto asset to my younger brother that can help him get access to my wallets in case I am gone. Because I believe him a lot. 
I agree. You can tell it to someone who you can trust because you are not sure how long you are going to live and can do the same thing. Wallet is like an asset which you can transfer on someone who can handle it on the future. My sister also do the same what I am doing and I let her know every transaction I did. There is nothing to worry when your family is the one who knows it.

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November 13, 2018, 10:38:24 PM
 #169

I think, that can be done instruction on use wallet with all passwords and keys. This instruction can be hidden in a Bank cell and then after your death your family will be able to get it and use bitcoins.

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November 13, 2018, 10:38:46 PM
 #170

Yes, we should do that. Because nobody knows when something is going to happen that we might not be able to talk, walk, see or write. So I personally would leave a trace to my crypto asset to my younger brother that can help him get access to my wallets in case I am gone. Because I believe him a lot.  
I agree. You can tell it to someone who you can trust because you are not sure how long you are going to live and can do the same thing. Wallet is like an asset which you can transfer on someone who can handle it on the future. My sister also do the same what I am doing and I let her know every transaction I did. There is nothing to worry when your family is the one who knows it.
I can relate to that.My brother and i are doing the same thing too.He always inform me all the transactions he did and so did i.Trusting someone like having to share your private keys and passwords is really hard but considering the person you have shared is a part of your family,then security is still there.

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November 14, 2018, 12:13:18 AM
 #171

I agree but this will only work for those people that still have their family with them but not on those people who now lives  alone. I suggest for those people to find a partner so if they die, that person is worth it to be left with your asset and earnings instead of just letting it get locked in the cyberspace forever.
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November 14, 2018, 12:27:04 AM
 #172

Yes right you are the only one who should know your own PK's and password BUT what if you die? Atleast if you're married and you trust enough your partner then tell everything to them. My husband knows my PK's and passwords in all the exchanges that i'm into just incase i die.

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November 14, 2018, 03:43:10 AM
 #173

This is something that can be quite difficult to balance, you do not want to give your information to anyone but at the same time you want your loved ones to have access to your coins in case something happens to you, that is something that I have been thinking about it for quite some time and yet I have not found a solution to it that is satisfactory for me.

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November 14, 2018, 04:13:23 AM
 #174

My wife knows about my online activity specially where I store my crypto assets. She knows where I store my passwords in case of emergency but so far she never laid her eyes on it. She didnt even try to ask how she can get it. I was afraid of that as well that when time comes like emergency and I need to liquidate my crypto assets but I have no access, my wife needs to know how to do it.
Thats what Im thingking right now, when emergencies like death or other conditions where we can't open it, and we need that money, if only you know the password, of course it will make you trouble. tell trusted people near you where you keep the password it will be better when an emergency comes
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November 14, 2018, 07:30:15 AM
 #175

My wife knows about my online activity specially where I store my crypto assets. She knows where I store my passwords in case of emergency but so far she never laid her eyes on it. She didnt even try to ask how she can get it. I was afraid of that as well that when time comes like emergency and I need to liquidate my crypto assets but I have no access, my wife needs to know how to do it.
Thats what Im thingking right now, when emergencies like death or other conditions where we can't open it, and we need that money, if only you know the password, of course it will make you trouble. tell trusted people near you where you keep the password it will be better when an emergency comes
Security has to be of topmost priority when speaking of wallet keys and password. Trust no one but only yourself. Store it in a safe place, a backup of your wallet can protect you against computer failures and many human mistakes.
Bitcoin can provide very high levels of security if used correctly and responsibly. It's very impressed to adopt good practices in order to protect your money.

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November 16, 2018, 02:13:07 PM
 #176

Yes! You need to protect your wallets against any possible theft or hacking. You must protect your private keys and wallet passwords. This is a must for everyone, else your coins will be stolen.

The frequent warnings of ensuring you protect your private keys from anyone seems to have eaten too deep into almost everyone of us in cryptocurrency. Some of us have forgotten certain realities of life and cryptocurrency wallets which I want to warn you about. My warning is mainly targeted at anyone who has a family, or at least, a child. You must leave a means or trace that your family will be able to access your wallets when you are gone. I mean when you are below 6ft. Each one of us will die some day. No one wants to hear this, but it is the absolute truth. If you suddenly die today with your secret keys and passwords unknown to your family, your coins are lost forever. Your crypto wallet is not a regular bank, so no way your family can claim your many crypto wealth online.
Don't be selfish. Your family or wife or children must not suffer when you have so much Bitcoin or other coins trapped in an inaccessible online wallets.

Remember your family and loved ones.

You have a very strong and uneasy decision to make today.


You're right. But this information, I believe, can be told only to one person from a family. It is probably advisable to tell this to your parents, because, unfortunately, it happens that families are destroyed, and your husband or wife can leave you at any time, knowing your secret passwords. Undecided
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December 14, 2018, 10:18:17 AM
 #177

Yes! You need to protect your wallets against any possible theft or hacking. You must protect your private keys and wallet passwords. This is a must for everyone, else your coins will be stolen.

The frequent warnings of ensuring you protect your private keys from anyone seems to have eaten too deep into almost everyone of us in cryptocurrency. Some of us have forgotten certain realities of life and cryptocurrency wallets which I want to warn you about. My warning is mainly targeted at anyone who has a family, or at least, a child. You must leave a means or trace that your family will be able to access your wallets when you are gone. I mean when you are below 6ft. Each one of us will die some day. No one wants to hear this, but it is the absolute truth. If you suddenly die today with your secret keys and passwords unknown to your family, your coins are lost forever. Your crypto wallet is not a regular bank, so no way your family can claim your many crypto wealth online.
Don't be selfish. Your family or wife or children must not suffer when you have so much Bitcoin or other coins trapped in an inaccessible online wallets.

Remember your family and loved ones.

You have a very strong and uneasy decision to make today.



Death, where everyone goes in the end.
If you really trust the person, you can can let them know  your key instead there something happened to you. We all know that it is important to keep secret your private key so its better to give it to your trusted family member  that will protect it  once   there something happened to you and also that person know crypto and how to use it.
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December 14, 2018, 10:39:53 AM
 #178

Recommend BitKey wallet.

BitKey uses a password and some security question to encrypt wallet data.
The password hint and security question will give the family member a good hint to decrypt wallet.

Besides the above design,  BitKey supports multisig-timelock address which is perfect to storage Bitcoins without worry about lost and stolen.

APP:
https://itunes.apple.com/us/app/bitkey-bitcoin-wallet/id898643317?mt=8

TimeLock-Multisig Address
https://medium.com/bitkey-blog/bitkey-s-multisig-timelock-address-22ff41c1b017?source=collection_home---6------0---------------------
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December 14, 2018, 11:43:32 AM
 #179

I do not feel safe to leave a private key of my wallet to anyone, I don't believe what if he can't keep it a secret too? of course I won't give that. When it's time for us to leave the world, of course we will bring nothing, including money, to try to give up everything.

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December 14, 2018, 11:52:06 AM
 #180

I have watched a movie long time ago. And there is a sentence came to my mind now. It is not a secret what known by more one people. So yes it is sad but if you share with someone your PK, it is not secure anymore. Including family member. It can be dangerous to share it.

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