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Author Topic: Your Wallet Keys and Passwords should be known to you and you alone. Yes! But...  (Read 2318 times)
ammo121810
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August 26, 2018, 02:11:28 PM
 #61

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.



Of course the wallet should be protected by keeping many back ups of the password and private keys. As an investor i had already entrusted my passwords and keys to the person whom i really trust just in case something happen to me they could still get my investments in the future specially for my kid.

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August 26, 2018, 02:19:02 PM
 #62

Yes at first you think that your password must only known by yourself. Make a secret to anyone.  Only you can have it.  But think and think that there is a question that in your mind.  When you die what happen to your coins if you only know your password,  if somebody or anyone knows your password?  So i must suggest that,  i think youst trust one person to know your password so if you died,  your coins cannot be wasted. 
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August 26, 2018, 02:28:59 PM
 #63

we do not know what will happen so we must share the information to our love ones someone we can trust. wife or husband or children closest to us. so if anything unexpected happen they can use it.
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August 26, 2018, 02:32:09 PM
 #64

For all my wallet's, emails, sites that I visit often to buy things online and social network pages I use different variants of one password, just changing one or two letters on big ones. Such strategy protects my profiles... from my own  Grin
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August 26, 2018, 02:55:01 PM
 #65

It is true your wallet keys and password should be known to you and you alone, let assume, you are sick and the sickness is to the point of death in which fund is needed to rescue you from the sickness, then your key and password is needed to access the fund in your wallet. What will be the way out. I suggest you should have an intimate and trustworthy friend that you can share your wallet key and password with. In case of unforseen circumstances.
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August 26, 2018, 07:08:04 PM
 #66

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 should have at least a note or a last will testament in your private keys of your crypto wallet in case of death. You should take this seriously because once your gone all your assets will go into waste. We accumulate wealth not just for us but also for our love ones.
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August 26, 2018, 07:59:16 PM
 #67

This warning needs to be sounded lound and clear. Interestingly or not, you have airdrops requesting for private keys these days and the sole aim from their BOT is to see if one is not a robot. Imagine that. You give out such sensitive information about your wallet, and the wallet is gone for good. And on the other part you raised, I have always been thinking about it too. Should finalize on it pretty soon as you raised a valid point. Well, we ain't dying soon, we will live to enjoy the BTC pump. 
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August 26, 2018, 08:48:44 PM
 #68

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.


Quite a good point though. But can someone actually include his cryptocurrency wallet in his will? Maybe that may help too. Otherwise, all the coins you have will just be wasted forever when you are dead.

Your answer's very interesting, though very simple but very reasonable and easily understood by anyone, even for those who are still laymen. I think if there's an easier way why look for difficult ways.
aoluain
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August 26, 2018, 09:04:40 PM
 #69

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.



Decision made a while back and it was easy. I have entrusted 2 people with
my private keys, my crypto brother who enticed me into bitcoin and my
daughter, who has no interest in crypto but hopefully in the future she will
remember what I tokd her should anything happen to me.

Its better than leaving the wallets to freeze and at least someone can
enjoy the benefits.
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August 26, 2018, 09:09:20 PM
 #70

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.



The best option is such situation is to have a hardware token that stores all assets thus it will be very easy for any of the family members to access given enough details on what to do and how to go about it. Bitcoin and Cryptocurrency at the present moment is what passing on to family members.
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August 26, 2018, 09:35:03 PM
 #71

Having a hardware wallet in this situation would make it quite simple seeing as there's just a pin code required to access it, and one doesn't necessarily need to let anyone know of the fact that one has a hardware wallet, but, maybe leave a text in the will or a letter somewhere informing of the pin code?
You have indeed raised a valid point here, its better to hodl all your Cryptos assets in a hardware with a simple and straight forward password concealed and kept in a will or even in file kept in a secure place, this will prevent the cumbersome means of assessing some online wallets like mew, block chain, coinbase etc. which might be difficult to access by a newbie in cryptosystem.

 
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dgreat
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August 26, 2018, 10:46:56 PM
 #72


as far as privacy policy is concerned anything of such nature such as your wallet keys and passwords should be known to you alone and yes that is the simple truth because it is valuable, the gate way and access to your finance which calls for more reasons why it should be private to you alone. why because these are the details that gives direct access to your financial account for withdrawal and every other transaction which you would want to do never forget these details are the most sourced for by hackers,fraudsters,scammers lots of them too numerous to mention are all alert and waiting for the slightest opportunity to hack into peoples account but this is just the real truth always or make sure to live a trace for your family when you are not around so they can have access to your details atleast it could be of great help for the family if they get details of it. choose a particular person from your family to entrust your details to.it might just help the family in time to come rather than getting it freezed or for some other persons you know not to merit what your family is supposed to.
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August 26, 2018, 10:56:40 PM
 #73

That should be it ,that the walletkeys and your passwords must be known to you alone , this is for security and prevent this from hacking incidents , but in case if emergency and you are dying if you could relay all your hidden things especially this pin, keys ,password you can pass this to your trusted one ,to continue your legacy,bur if you are lively keeps this things secrets as much as possible.

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August 26, 2018, 11:28:54 PM
 #74

maybe if we give it a few years, people will be "on the blockchain" (tracked!) and a smartcontract can move funds over to family members when one goes "offline"  Shocked

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August 27, 2018, 11:19:33 PM
 #75

Having a hardware wallet in this situation would make it quite simple seeing as there's just a pin code required to access it, and one doesn't necessarily need to let anyone know of the fact that one has a hardware wallet, but, maybe leave a text in the will or a letter somewhere informing of the pin code?
You have indeed raised a valid point here, its better to hodl all your Cryptos assets in a hardware with a simple and straight forward password concealed and kept in a will or even in file kept in a secure place, this will prevent the cumbersome means of assessing some online wallets like mew, block chain, coinbase etc. which might be difficult to access by a newbie in cryptosystem.
This will really be a very good idea. Maybe you just let the person you will entrust the wallet to know where you keep the hard wallet, and then right the PIN in your will, and some clue statements that even your lawyer may not be aware of unless the person you will entrust the wallet to. You may discuss this with the person ahead of time maybe without full details, but if it is your child, you may be less in with your secrets.
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August 28, 2018, 04:41:17 PM
 #76

If you do trust that member or that person enough then sure, it will be safe to disclose it. Just like banks, we trust them enough with our money, the same will happen with that said person.
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August 28, 2018, 06:20:11 PM
 #77

Because what we get in crypto world all are going to store in the wallet so that we need to be more conscious about the key and password and never going to disclose this in front of anyone.
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August 28, 2018, 06:24:01 PM
 #78

I already told my beloveds that i have this much of crypto and that much. I also put those keys in a safe place and let some of my families know just in case.
In this world, you never know. Things happen. I haven't had a wife but if I do now, she will be the first one that I share my passwords and secret stuff in crypto. Of course.
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August 28, 2018, 11:10:51 PM
 #79

The fact here is not about letting your family know rather letting people to know your private key whom you can trust with your everything. I am quite sure we all have someone like that, be it our kids or wife or even friends. Otherwise, there is no point is saving those money and taking them along with you to the grave.
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August 28, 2018, 11:19:03 PM
 #80

Hacking online is imminent especially related to financial assets and everyone should be careful about it. As crypto currency is on trend this would find a great interest on mischief and inevitable but there are some tips to avoid from hacking attacks. Private keys are always our responsible for safekeeping and it should be most important to do so. Mostly hackers used phishing method so it's best to always bookmarks important websites in order to avoid phishing sites sometimes it can be sent thru emails.
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