Crypto After Death?

[Invest-or]

There are many ways of passing on your cripto keys and that does not require a bank at all. However, these custodiaries are a practical resource if you don´t want to get technical.

[jusertvaz]

I think I will sell all your crypto-currencies to my death and the children or grandchildren leave paper money. It would be more correct because nobody knows what will happen with the industry of cryptocurrency even after five years, not to mention the distant future. I hope that the era of cryptocurrency is just beginning.

[tosmartak]

I think that you can just bequeath your wallet with coins to your family or friends. Just bequeath them a flash drive or disk on which the coins are stored.

It is not even a must that you have to tell them everything before you die, but at least let them just know some details about where you are holding some of your coins or simply just put it in a very safe place they can only have access to it when you pass to the next world, if there is anything like that. I have heard of someone talking about putting in a bank vault and writing a will for it or simply passing it on to your next of kin as the case may be.

It is better though that while you are doing that, you try as much as possible to get those you are leaving behind familiar with the usage of cryptocurrency, how to keep it safe and how to access it, so they do not end up flopping if they do not have an idea what to do with it.

[Muhammad Muneeb]

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?

make use of ethereum smart contracts.. there is a project called digipulse who's sole purpose is to deliver your private keys to your heir after your death or save your pvt keys and all information in hard form

[HichemFetoui]

after this major dump the crypto market is much more healthy we will see real and healthy progress in the upcoming year in this space good luck with your long-term choices

[No Pain No blood]

maybe we should be able to pass on the crypto that we have to the family. with how to give your privatkey and wallet data to a trusted family.

because otherwise we don't do that, when we die later crypto we have will only be left in the wallet and no one will use it.

[Ladysmith]

Smart contracts for cryptocurrency allocation after death could be useful..

How money is dispersed after death is an issue even with fiat. My girlfriend's childhood friend's father died, who was loaded and had his money in so many assets and offshore accounts around the world and hid everything perfectly to avoid taxes that they never had access to it.

Who knows though? Maybe this won't be an issue once we'll be able to be uploaded into the cloud   We'll still be able to control assets after physical death.

[lKSLMNSLKnkndlksnkJ]

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?

What you are forgetting is that cryptos' arrival on the scene is a SYMPTOM of an abusive money system forced on the masses for too long.

The powers that be are pounding crypto with their media and regulations because they can't control it.  It was meant to be that way.

The problem I see here is most people don't realize they are putting their trust in someone else putting money in a bank.  The defeats the whole purpose of crypto.

Crypto is meant to put power back into the individuals hands.

Instead of having a bank keep track of your numbers, crypto allows you to do it yourself.  The mechanism is there, people just have to break the brainwashing they are subject to.

We don't need banks.  They need us.

If you had a big chunk of gold and or silver, unless you spend it all while you are alive, you are going to want to pass it on to someone in your family.  When that is the case, you take time to educate those individuals so they are ready when the time comes.  Same with crypto.  Take responsibility for your own future, and you'll never look at a bank the same way again.

[pekingcoepo]

You can divide your private key or seed phrase into several parts and distribute them to relatives, so that only when they come together they can get access to the wallet.

It is very true that the method is very good by dividing some of the seeds of savings to the nearest person very efficiently so that it is easy to keep the wallet alive. \basically we will bequeath all to our family or descendants for a good future, and crypto in my opinion in the future be an asset or a savings, to keep that trust the wallet to the closest person who can be trusted or team.

[Ucy]

Guess the simple thing to do is to have everything stored on a safe website (possibly a decentralized website) then  have the password and username saved on a thumb drive and stored in a bank vault or/and somewhere safe a at home.

 You can then ask few family members to access it when you die. The storage location should have inbuilt alert system that alerts you when it is accessed at the wrong time so that you can re-enable the lock.

Will be cool to have something like this. Wonder if it already exists in Crypto world.

[mbluxs]

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?

it would be better if one family knows the key to the wallet they have, because we will not know what will happen tomorrow, so that what is in the wallet can be used or can be passed on to the family, unfortunately if you don't know it continues to burn just like that

[Cryptodiscuss]

Same thing like if you lose your cold storage, in fire, flood, get stolen etc... Those coins are lost forever and can only lead to rise in price eventually for that lost coins.

[weborsha]

All the funds will remain in the wallet and nobody will be able to withdraw it ever. There is no regulation for such cases, so if you wanna my opinion - family must have the private key. Don’t tell them what the combination is for (if you don’t want them to know how much you have), leave your last will with the instructions.

[elenka n]

Well, why, my wife and children know about the technology, know what I do and know where the private key of the wallet lies!

[Malam90]

It is a matter of highly thought. Most of the crypto lovers's family don't know about crypto or cryptocurrencies wallet infomation. This can be a big problem if the particular person die. It is better to show the information to his/her family members so that they can use after their death.

[annajacob92]

Crypto will be here for all times because it has done really important and significant contributions for people and for the whole world as well. So it will be in ourselves always.

[smoolae]

Actually, it's a "good" thing when someone leaves their wallet behind and doesn't give out any passwords. Total circulation of this coin/token gets smaller and so the price rises .

No, but for real, nothing probably really happens. The give crypto gets basically locked up and is now unreachable for anyone.

[romeolopez21]

Death is not the end at all and it is impossible when it is said about the crypto. Its being here is the key to the bright time later so I don't agree here.

[rickadone]

do not forget to leave instructions. To whom to go with this flash drive and what to do with it. Relatives may not be aware of this.

I may not have so much yet, but one thing I have thought of is to just put my cold storage in a safe in a trusted bank, and then leave it there. People live gold and some other assets or documents in a bank vault and all you can just do is to pass it to your next of kin when you die. Like you said though, it is always better to leave instructions, so they do not end up losing the funds out of trying to even understand what they are holding and then the stuff getting into the wrong hands. One way or the other, it should always be a good thing to put them through and at least make sure they have a huge idea first.

I think that all the keys and passwords from crypto wallets get to those who killed their owner. It's just a joke. You can store cryptocurrency on a hardware wallet, and a seed phrase, for example, in a safe deposit box that will be given to relatives after the owner’s death.

A big lol to that first part. A lot of cryptocurrencies have gone missing over the years as a result of death and the individual not making some pretty good arrangement in the case of his or her demise. For instance, recently a man who is holding billions of dollars in XRP was found dead, but unfortunately no one have an access to what he is holding except himself. Like you said, sometimes, the best way is to just either put what you have in a cold storage and then probably save it in a bank vault or a safe like you said, which will be accessible only when you pass away.

[velona2589]

Will crypto even survive until a day I die? If so it might be interesting. Or might be not. In those times it might be something usual like leaving a fiat money inheritance.