If You Died Tomorrow, What Would Happen To Your Crypto?

[PavelMed]

There is an option to make crypto-weighing. Only there are problems, as a rule a will is on average, or even at an older age. And if this happened at a young age and this is an accident. Then all the savings remain on the wallets. There is also data on thousands of bitcoin wallets. I do not say the owners have died. There is a fact about wallets with currency, and that it will remain so.

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[fuer44]

Wow, you think so far ... I salute you

okay, first of course we never tell our privacy in the crypto world to people close to us including our own families. so, everything in the crypto world, they don't know. the first point shows that after we die, our assets in the crypto market remain intact, unless someone can open them.

then if we are given the opportunity before we really die to say the last message to the family, consider it as inheritance and leave all these assets to the family. even more difficult if our family does not know how to use or enter the crypto market 

clear, our assets will remain safe

[akmal1984]

As more and more investors join this sector, a question everyone should be asking themselves is: "What happens to my crypto if I was to die unexpectedly soon?"

I understand the thought of this is depressing, but it is inevitable and the only thing that matters is whether you prepared for it or not. Most of us have enough money in this game to start preparing for this in order to prevent it from going to waste.

If you haven't planned around this, or even thought about it yet, I recommend investigating the few options below:

1) Include all your wallets and passwords/seeds in your will. Make sure you include instructions on how to access your funds as well as giving these to someone not familiar with crypto will be just as useless as not even including them in your will.

2) Along with the will, teach the closest person in your life how to access your funds. Whether this is your significant other, family member, or really close friend, make sure someone understands how to access a wallet and transfer/sell the funds. Just like how you should be researching projects before you invest in it, make sure you choose who you share your secrets with carefully.

3) Take a look at Safe Haven. Safe Haven is building an Inheritance Platform that will allow you to do everything above, but with a legal entity that understands crypto and will make sure your funds get in the right hands. Not only will you reassured that your funds are secured and inheritable, but you will also be increasing the adoption of crypto yourself, outside of just investing into it.

So no matter what you are invested in, if it is a large amount of money, I recommend you begin thinking about the future. Crypto is very complex and requires a lot of time to make it fully inheritable, so please make sure you take the appropriate safeguards and steps in doing this correctly.

I have prepared it by storing it into a very neat file for everything related to my crypto assets, such as passwords, private keys, and so on. Although I have not told my family. I have filled each site with email and password. So it will not be too complicated for my heir if I have already left this world. Even though they don't understand crypto, at least they will just have to ask questions because my friend is also in the same field as me.

[Lance203sin]

All my treasures will die with me

[lighpulsar07]

This topic is already asked already... just search it in this forum.

And of course the answer is the coins will be lost forever since the owner of said bitcoin or altcoin is dead and only he/she can only access it this is why you should secure your bitcoins just in case that your fate is already sealed what i mean sealed is you are dying from illness

[Webetcoins]

That is the right step, we really should like that tell our families that we have valuable assets
on a smartphone or laptop so that if we die then our family can take our assets. I personally have also told my family about the Crypto assets that I have.

It is like if we have gold or diamond or any other valuable, what will be we doing with it? Obviously, share it with our family members. Similarly, digital assets should also be shared with them. After all, they are the people whom we struggle for and earn money. They deserve to know about our owning. There are people in history who buried assets somewhere and died. No one has discovered them yet. Same is the case with digital assets.

[smyslov]

This is something that people should address, because we can never be sure of our lives, if we are investing and hodling Cryptocurrency, it is just right that we know how to transfer this to our heirs, like we transfer our properties and cash to our heirs, we can create a documents that will detail everything about our inheritances, a video can help and of course you need a ledger to to keep your coins.

[bohr]

As more and more investors join this sector, a question everyone should be asking themselves is: "What happens to my crypto if I was to die unexpectedly soon?"

I understand the thought of this is depressing, but it is inevitable and the only thing that matters is whether you prepared for it or not. Most of us have enough money in this game to start preparing for this in order to prevent it from going to waste.

If you haven't planned around this, or even thought about it yet, I recommend investigating the few options below:

1) Include all your wallets and passwords/seeds in your will. Make sure you include instructions on how to access your funds as well as giving these to someone not familiar with crypto will be just as useless as not even including them in your will.

2) Along with the will, teach the closest person in your life how to access your funds. Whether this is your significant other, family member, or really close friend, make sure someone understands how to access a wallet and transfer/sell the funds. Just like how you should be researching projects before you invest in it, make sure you choose who you share your secrets with carefully.

3) Take a look at Safe Haven. Safe Haven is building an Inheritance Platform that will allow you to do everything above, but with a legal entity that understands crypto and will make sure your funds get in the right hands. Not only will you reassured that your funds are secured and inheritable, but you will also be increasing the adoption of crypto yourself, outside of just investing into it.

So no matter what you are invested in, if it is a large amount of money, I recommend you begin thinking about the future. Crypto is very complex and requires a lot of time to make it fully inheritable, so please make sure you take the appropriate safeguards and steps in doing this correctly.

I have been thinking about this for some time, while I do not have enough coins to consider myself wealthy in any way, in the case something happened to me I would like that my family can get my money, but I have not decided for the appropriate method to do so since I do not think it is a good idea to share that information in your will since your lawyer could always steal your coins from you if he happens to read carefully what it is written there.

[qwertyup23]

This is actually an interesting question as it delves deep into the usage of cryptocurrencies as an inheritance asset. Although the problem with it is that, no company/organization has created such institution wherein it considers the inheritance aspect when the owner dies leaving his/her valuable BTCs (or any cryptocurrencies) remain at his/her private wallet.

I think the best solution would be to inform your relatives or loved-ones about your private wallet and try to teach them the basics of everything. Always be ready with a contingency plan!

Funny as it may sound, the truth is that if many die, their asset will be gone and not transferred, this is because the first rule about wallet is keeping it safe and not disclosing it to a third party. It might surprise you that the one person who knows it might not be careful using your private keys, so, many people will only give out their private keys when they know they are about to die.

Like what I recommended above, it is advisable that you tell your close relatives or immediate family about the existence of your private wallet and the funds inside it. Anything can happen at the spur of the moment and leaving your precious assets without anyone owning it would be a total waste.

[Webetcoins]

This topic is already asked already... just search it in this forum.

And of course the answer is the coins will be lost forever since the owner of said bitcoin or altcoin is dead and only he/she can only access it this is why you should secure your bitcoins just in case that your fate is already sealed what i mean sealed is you are dying from illness

That is true. If the information of bitcoin and altcoins is not shared with anyone by the owner before his death, that asset will be lost. It is similar to what happens in real world with physical assets. If I have a huge amount of gold which no one knows about and I have buried it at a place which only I know, after my death that will be lost because one even knew it was there at the first place.

[Raymzopai]

NO one knows when he or she will die but if i die today, my crypto hasnt gone because i made sure i write down all of my password and secret phases in a seperate notebook which will be giving to my family once have kicked the basket.

[syamster]

This topic is already asked already... just search it in this forum.

And of course the answer is the coins will be lost forever since the owner of said bitcoin or altcoin is dead and only he/she can only access it this is why you should secure your bitcoins just in case that your fate is already sealed what i mean sealed is you are dying from illness

That is true. If the information of bitcoin and altcoins is not shared with anyone by the owner before his death, that asset will be lost. It is similar to what happens in real world with physical assets. If I have a huge amount of gold which no one knows about and I have buried it at a place which only I know, after my death that will be lost because one even knew it was there at the first place.

yes both are similar cases, not telling about your assets will be useless if you die, but i think that the crypto users are wise enough to deal with this problem, they must write the passwords of their wallets in their personal diaries and also it is very rare cases that only one member of the family know about the crypto, usually in a family atleast two or three persons must know about it, so i think it is not a big problem for majority.

[Becky666]

Wholeheartedly am doing this business with my husband and he knows my wallet and password to my social media because life is very short. Although, many of these business have some good layer of security  that; sometimes the consent of the two parties will be require for access to access funds.

[dimox]

i ever think about it. when we die, no one can access our asset and its really harmful for our family, maybe we give it to them little by little but if we die it will be useful for them.
for me, tell about bitcoin to your family or close friend (trustful) is great. tell them how to access, transfer, trade it, all of basic about it. so when something happen, our asset still useful for our family

[ra_pl]

This is a crucial question to be honest. I wouldn't think to die though, like you ask.. I would like my cryptocurrency to be with my partner though we trust eachother and have access to my private key . This is the best thing to do . I use to ask the same question that how would your cryptocurrency assets end if you die. Unfortunately I won't want to keep my assets to third party.

[Wend]

I hope i will not die tomorrow because I want to earn more in crypto and help some funds from my brother in school and I have more bills need to pay.
But we cannot tell yet on what happen on us tomorrow or another day, So we must be ready for that or where to send our holdings in crypto or else teach them how to earn in crypto so they can get money while i'm not in this world.

And for me I send to my family and its a big help for them. And I hope they remember me when I'm gone in this world

[MathGame]

I am sure if someone dies with a crypto bag 99 percent chances are that his portfolio will be lost, because most people will not share their passwords and private keys while they are alive even with their close ones. I think in few more years when crypto adoption will increase only then their will be some services or platforms that may offer such services to transfer the portfolio to declared wallets in case of death of hodler.

If you died tomorrow without disclosing or writing down your wallet information to any of your family members you died with your coins. Without a login password to your wallet or private key, no one will have access to your bitcoins or altcoins. thus, it is very important to keep your wallet information somewhere people can find if you die without notice.

[letyouearn]

Nobody really cares about the savings in case of sudden death, people are living this moment and trying to be positive
And this question was very actual in 2017, not now, when everything is too dumped. Hope this will change in 2020...

[bohr]

Wholeheartedly am doing this business with my husband and he knows my wallet and password to my social media because life is very short. Although, many of these business have some good layer of security  that; sometimes the consent of the two parties will be require for access to access funds.

You are lucky to have someone which you can share that information and be completely sure he is not going to steal your money, but for the rest of us we have no option but to try other ways to give our coins in a secure way to our family members in the case something happened to us, I still not have figured out a way to do this but I am sure in the future services could appear that will help us with this and if this is not the case I know that in the future the community will help us to figure out a solution to this. 

[coinfinger]

This could be a good problem for big investor. For me I will set up a family member as a nominee. Then I will write down all steps how to open or how to use even will write authentication code if exchange used. Then all I will put in bank account, this is the plan to me.

Have you done it now? this indeed becomes a dilemma, if we do not write a will to someone in order to access our wallet. this also can erode little by little the supply of bitcoin in the market later. I think we should prepare it immediately so that our assets do not stop

Some people are so selfish that they will rather allow their money to wroth in the wallet or bank than allow anyone to gain access to it even while they are gone, especially the younger ones that have not married or start having children, because if not, at every stage of one's life, one should have a next of kin, and the next of kin should be the one to have access to the cryptocurrency money.

In cryptocurrency, naming next of kin is really not enough because they might not know since nobody will inform them unlike banks that will call, no one controls cryptocurrency which makes it very important that one should do a will down so that the lawyers can read the will to the next of kin in order to have all the detail needed to access the wallet.