How to transmit funds from an exchange to relatives

[Redrain]

Hi to all the community.
Recently i've got a problem with my trading account on binance, got it 2FA verified and 2FA was on my mobile phone which i've lost. So i've lost an access to my exchange as well, because i didn't save a code to 2FA.
So i've started again and wondering if there's something can happen not only with my equipment, but me as well,  how can my relatives receive my funds without getting an access to my binance account, email, 2FA, etc. Is there any service i can use that will be something like a backdoor which i or my relatives can use if something goes wrong?

[andreibi]

You should email Binance. They will then ask you some questions about your account which only you and Binance knows about. And then they will ask you to send them a copy of your government ID with another photo indicating date and your signature.

Of course you have to do this from the email address you used to register.

TLDR They will help you regain account access as long as they can confirm your identity.

Once all this is done and you regain access. Sending your coins to relatives is already easy.

[Josefjix]

Hi to all the community.
Recently i've got a problem with my trading account on binance, got it 2FA verified and 2FA was on my mobile phone which i've lost. So i've lost an access to my exchange as well, because i didn't save a code to 2FA.
So i've started again and wondering if there's something can happen not only with my equipment, but me as well,  how can my relatives receive my funds without getting an access to my binance account, email, 2FA, etc. Is there any service i can use that will be something like a backdoor which i or my relatives can use if something goes wrong?

A well detailed information about such incidents is provided by Binance, you should have asked them on their official telegram group or check FAQs on their website to verify.

https://www.binance.com/en/support/articles/115003585911

[Lakai01]

Once all this is done and you regain access. Sending your coins to relatives is already easy.

I don't think that's what he wanted to know. He's concerned about how his relatives would access his funds if anything happened to him.

I can only give you one tip here that I've used myself. Make a copy of your most important data and give it to the person who would be your heir in case of your death. You could for example create a USB stick with photocopies of your codes/seeds etc. on it and encrypt it with a password that only you two know. Alternatively, you could of course give this data to a lawyer who would handle your estate ... should you have one.

I think it is very good to make arrangements for such situations, you just don't know what will happen tomorrow. Especially private keys and co. could be irretrievably lost if you don't store them in a secure place where a third party knows about them.

[Redrain]

Hi to all the community.
Recently i've got a problem with my trading account on binance, got it 2FA verified and 2FA was on my mobile phone which i've lost. So i've lost an access to my exchange as well, because i didn't save a code to 2FA.
So i've started again and wondering if there's something can happen not only with my equipment, but me as well,  how can my relatives receive my funds without getting an access to my binance account, email, 2FA, etc. Is there any service i can use that will be something like a backdoor which i or my relatives can use if something goes wrong?

A well detailed information about such incidents is provided by Binance, you should have asked them on their official telegram group or check FAQs on their website to verify.

https://www.binance.com/en/support/articles/115003585911

thank you, it worked!

Sending your coins to relatives is already easy.

You mean sending it by myself? Well, yeah, but if i won't be able and noone from my relatives know about my funds and they don't have any idea what crypto is. Is any way for them to receive money?

[bitbunnny]

Once all this is done and you regain access. Sending your coins to relatives is already easy.

I don't think that's what he wanted to know. He's concerned about how his relatives would access his funds if anything happened to him.

I can only give you one tip here that I've used myself. Make a copy of your most important data and give it to the person who would be your heir in case of your death. You could for example create a USB stick with photocopies of your codes/seeds etc. on it and encrypt it with a password that only you two know. Alternatively, you could of course give this data to a lawyer who would handle your estate ... should you have one.

I think it is very good to make arrangements for such situations, you just don't know what will happen tomorrow. Especially private keys and co. could be irretrievably lost if you don't store them in a secure place where a third party knows about them.

That is one way and very good I have to say.
The other is to include the data about your wallet including private keys into your last will. That is good way for these data to be protected and at the end they will be revealed to person or persons you want them to and everything will be covered legaly also.

[enhu]

You need to email there support. I happen to also not save my 2fa code so their system asked me to provide KYC again.  Shit happens.

What you provide for KYC the last time you did it must also be the one for quick approval. I learned this because I tend to submit my drivers license the 2nd time. But they reminded me that I submitted passport during my first verification so I did submit my password again. It was time consuming because it took aweek to 10 days when you do account recovery.

[joniboini]

Well, yeah, but if i won't be able and noone from my relatives know about my funds and they don't have any idea what crypto is. Is any way for them to receive money?

Well, they should know about crypto then. At least know how to withdraw your funds and exchange it into fiat when they need it. There is no other way, trusting another person or institution to do it for you has more risks than benefits. You should educate them while you still can.

[CucakRowo]

You mean sending it by myself? Well, yeah, but if i won't be able and noone from my relatives know about my funds and they don't have any idea what crypto is. Is any way for them to receive money?

An ambiguous sentence (bold sentences). here's what i want to ask :
- If your relatives have no idea about crypto, how will you send money to them?

But i have suggestions (based on scenarios that your relatives have no idea about crypto).
- Change your crypto to your local currency
- Withdraw it from exchange.
- After withdrawal funds received in your bank account, transfer it to your relatives.
Those suggestions sounds familiar right?

[Eureka_07]

Hi to all the community.
Recently i've got a problem with my trading account on binance, got it 2FA verified and 2FA was on my mobile phone which i've lost. So i've lost an access to my exchange as well, because i didn't save a code to 2FA.

You can contact Binance and they will assist you afterwards.
You have your account back if you passed the authentication.
That's a problem on 2FA authentication, if you lost your phone, it can't be access. So you need to ask for help from binance.

So i've started again and wondering if there's something can happen not only with my equipment, but me as well,  how can my relatives receive my funds without getting an access to my binance account, email, 2FA, etc. Is there any service i can use that will be something like a backdoor which i or my relatives can use if something goes wrong?

You can tell on your security keys, passwords, seeds etc.  to anyone you trust a lot.
Family or relatives  are my recommendation.
Anyone is valid as long as you trust them, like your bestfriend your partner.
Consult an attorney to legalized your chosen people to own your things.

[Kelvinid]

I understand that no one from your relatives knows about crypto but it was not a hindrance to making a transfer. All you need is to educate them and provide information or account details needed to log in. It won't takes so long as long as they want to listen and learn about it but if not, you don't have any choice but to let others will do the job.  

So i've started again and wondering if there's something can happen not only with my equipment, but me as well,  how can my relatives receive my funds without getting an access to my binance account, email, 2FA, etc. Is there any service i can use that will be something like a backdoor which i or my relatives can use if something goes wrong?

But I don't recommend third-party services because the risk is high and I'm afraid you could lose everything you have. Better to choose your closest friend that you have trusted for a long time and could really be trusted.

[sheenshane]

Sending your coins to relatives is already easy.

You mean sending it by myself? Well, yeah, but if i won't be able and noone from my relatives know about my funds and they don't have any idea what crypto is. Is any way for them to receive money?

Probably he/she meant to say is make another account that the identity was under by any of your relatives then, withdraw.

But for me, I won't suggest this if I can provide KYC. Sending to your own bank account and then transfer to the account of your relative might a good idea.
If you will directly send to your relative accounts, it might look suspicious to the exchange and probably they think that your account has been compromised. But first, try to ask their support regarding this matter, sometimes honesty will benefit us in the end.

[Yaunfitda]

Hi to all the community.
Recently i've got a problem with my trading account on binance, got it 2FA verified and 2FA was on my mobile phone which i've lost. So i've lost an access to my exchange as well, because i didn't save a code to 2FA.

As others have said, contact Binance support.

So i've started again and wondering if there's something can happen not only with my equipment, but me as well,  how can my relatives receive my funds without getting an access to my binance account, email, 2FA, etc. Is there any service i can use that will be something like a backdoor which i or my relatives can use if something goes wrong?

There no such thing as backdoor, everything is crypto should be well taken care of. Your passwords, keys, it should be back up so that when worst comes to worst, you have a fall back plan and you can recover everything.

[Assface16678]

About the problem with the binance by recovering your account you should make a PM to them because they have good customer service but still if you don't want and you know have a new account it depends on you.

There is another way if you don't want that your relatives can have access on your account and do you want to them the money, use platform that support the use of the cryptocurrency and fiat currency and by that, you can easily convert your funds without hassle because its more convenient to you but I think you are the one who still manages that because what if they don't have enough knowledge with the use of that.

[PaperWallet]

I think the answer is easy: Write your will. If something unfortunately happens, your assets on Binance should have no problem being transferred to relatives.

But of course as said before just contact Binance it's obvious...

[slapper]

Emailing Binance is the only and the best solution. They have quite good service and they do take care of their customers a lot. Don't worry too much. Unless you lose your private key to access your wallet, nothing needs to worry so much. Third-party platforms usually centralize your coins and take responsibility for you in many cases. That is why Binance, Coinbaes, etc are trusted over the last few years

If you want your relatives to access your wallet and exchange, you need to make them understand bitcoin and others stuff related to it. Then, you can make a copy of your 2fa code and give it to them.

[dentolas]

I have wondered about this myself, I don't think it will be easy or even possible for relatives to gain access to exchange accounts, especially if these are not kyc verified... and besides, who will know about your assets and their location?... only way I've found is to instruct one person about all the stuff and share a copy of the access keys...

[pawanjain]

If you lose your 2FA then binance have a procedure where it asks you for your backup code from where you can reset the 2FA and if you don't have that as well then you have to go undergo the KYC process where identifies your identity and then gives you the access to your account.

In case something happens to the owner of the account then there is nothing their relatives can do unless they have the access to your account.
This is why you should ensure that you have kept the backup code in a safe place and have informed about it to your relatives so that they can access your funds in case of a misfortune.

[bitgolden]

Well, the easiest way would be to have all the information on a piece of paper that you give your lawyer with the will that would be read after you die? Your own "will" that you leave will give your house to someone, your stuff to someone, your money to someone and that will give your crypto to someone as well.

From 2fa to everything else, when you die, your loved ones can take a look at a piece of paper that explains how they could cash that out, if they are interested in crypto they would know what to do but if they are not you will leave them something that would help them cash that out to fiat currency which they could later use. I have already got one ready, my wife got pissed because I was thinking about death but it is life and a car could hit me at any time, I do not have to die from old age only, it could be something else who knows.

[thesmallgod]

You can get the 2FA deactivated by simply open a ticket and provide reasons why you want to deactivate it. It is going to be less rigorous if you already verify your account and as well as you have access to the mail. To your second question, I'm very sure this has been answered a lot of time in the forum. You can provide detail to your wallet on your will. However, it is not advisable to always put all your coin on exchange