Crypto After Death?

[Arcanefist]

Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?

This is a very interesting topic for discussion. I think that most likely in a couple of years, cryptocurrencies will be considered a full-fledged legacy as ordinary money now and they can be documented to be transferred to their heirs

[Fedots83]

I thought that. It seems to me that so far such cases are units since cryptocurrencies appeared not so long ago and many people store passwords on computers or on paper. And then when crypto becomes commonplace, we'll be documenting it all.

[ElenaN]

It is for this reason that a close person should know about the wallet, who could use it in case of some kind of trouble!

[Downloaded]

Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?

Death is hard and scary. It seems to me that it is impossible to accept it and it is necessary to think of the future even if it is inevitable. It seems to me that we will simply transfer cryptocurrencies by inheritance or automatically after death to transfer to relatives

[kleeck]

Actually i thought about this. Gave the details to my very close friend and if i die, he will take %5 of my crypto for his services and give the rest to my family. Who holds the keys, have the cryptos.

[CTO@MyBitMine]

I've already think about that and it's pretty good question. First of all I explained to my family what does crypto mean for me and how to get access to my funds, I got backup of my seed and private keys for wallet and exchanges. It should be enough imho.

[jonruhoax]

Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?

we have reviewed so many posts as discussions, and always have a long debate that never ends. If you want to be safer, you can make a will to the closest person like your parents or children. so like something happens, they can still access your assets.

[EvgenOrel]

I've already think about that and it's pretty good question. First of all I explained to my family what does crypto mean for me and how to get access to my funds, I got backup of my seed and private keys for wallet and exchanges. It should be enough imho.

I still do not think about death, though I understand that it can occur absolutely at any time. Nevertheless, I have one friend who, in the event of my death, will be able to use my laptop and get a password from my several cryptocurrency wallets. I think this will be enough.

[Torbeks]

When someone dies,their coin will be forever on hold to a certain wallet . The only time it will be accessed is when someone has the private key. That is why we should tell our family on how to access our wallet so that when the time comes, they will be able to inherit our assets. Trust your family.

[passwordnow]

Get a lawyer so you can write down your last will testament. But if you can't do that, teach and tell only the person that you can trust in your family.

The one that will never move your fund until you die or until you permits to do so. Those coins that is being owned by the deceased owner can be considered lost forever.

[shiming]

For cryptocurrencies, private key is very important. When we passed away. You can create a document that allows future generations to learn to use encryption, which is a fortune for them. I think they will be happy to learn,

[Babyjamz3026]

It is something I should reconsider.
For feasible assets I can write testament and I am sure that my assets will be inherited. As for digital goods like crypto there is no legislation.

[kethan]

Cryptocurrency is really our future, but all of us will die and many will have heirs. I think that cryptocurrency will simply be transferred in the same way as usual money is now transferred. Nothing new here not to purchase

[mika1977]

They disappear without a trace, it's obvious. No one except the owner of the private key has access to money. If you do not leave behind access to private keys to their children, then everything will be lost forever

[gelinshidong]

People with such ideas are usually very wealthy, and these people usually have their own solutions, such as assigning coins to the next generation in advance. They are unlikely to ignore this important phenomenon. If it is then the coin will disappear.

[olsyd]

So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?

Probably in the near future, we will see secure storages something like electronic cells that keep keys and passwords to the wallets of their owners

[puremage111]

Have you ever wondered what will happen to your cryptocurrency when you die, for those holding huge funds, what have you put in place to make sure your kids or family benefit from your crypto savings.
This is quite fascinating because if you know someone with huge crypto savings and he gave up the ghost, I wonder how such families would benefit from his savings since he alone has the private key to his/her wallet.
I guess this is one reason some user still prefer banking Institutions, because they made provision for next of kin unlike crypto.
So my question is what happen to those crypto when the owner of such wallet is no more and no one has access to such wallet?

That's the problem and i know there were certain project are doing something like a Will with smart contract
I am not sure how it can be coded to such that you can move funds from other wallet where you don't access to private key but i believe everything could be coded.

Perhaps you parents would have access to this certain Ethereum Address, you know that they doesn't know about privacy and security. Hence this is why custodian service is out there to help and secure people's wallet.
So lets say you are dead, after X amount of days when wallet is inactive, there will be an execution of all the ERC 20 tokens to your designed designated wallet address.

I believe this should be the way

[bdc2343]

This is probably a fun joke you made, but I think your Crypto and I are sure to have a second person as well like my wife and I know. You probably have not thought of it, but I'm sure there will be someone who knows your password too, and that person is lonely with you to be more trustful after you die that the password still exists. 

[moanna123]

the crypto has its own wallet pirvate key and i think have to share at least with one member of the family in order to get access after you die but the one who you really trust.

[gerbas]

If no one have our private key, then everything will done. no one will be able to access that fund, and it will stay in our wallet for ever. I think that could be a bit disappointing to have that only possibilities.