What Happens to Our Bitcoin and Other Assets If We Die?

[fennic]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

[1714949155]

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[BlackHatCoiner]

Normally, when the owner of an asset passes away, the asset is transferred or inherited to his family. For example, a house, or a business (in that case, the stakeholders might earn something too). Gold, however, which is closer to bitcoin than houses and liabilities are, can't be accessed unless he's told them the place he's hidden it.

Bitcoins, for once more, have the advantage to be signed as inheritance, without revealing the private keys / location. See Using Locktime for inheritance planning, backups or gifts.

[fennic]

Normally, when the owner of an asset passes away, the asset is transferred or inherited to his family. For example, a house, or a business (in that case, the stakeholders might earn something too). Gold, however, which is closer to bitcoin than houses and liabilities are, can't be accessed unless he's told them the place he's hidden it.

Bitcoins, for once more, have the advantage to be signed as inheritance, without revealing the private keys / location. See Using Locktime for inheritance planning, backups or gifts.

You are right but nobody like me do not know how to do this. Cause mostly people and also in our family thinks that cryptocurrency is a joke and can be scam and they do not believe in this. Same case is with me. And cause people do not believe what is hidden.

[Hispo]

Normally, when the owner of an asset passes away, the asset is transferred or inherited to his family. For example, a house, or a business (in that case, the stakeholders might earn something too). Gold, however, which is closer to bitcoin than houses and liabilities are, can't be accessed unless he's told them the place he's hidden it.

Bitcoins, for once more, have the advantage to be signed as inheritance, without revealing the private keys / location. See Using Locktime for inheritance planning, backups or gifts.

You are right but nobody like me do not know how to do this. Cause mostly people and also in our family thinks that cryptocurrency is a joke and can be scam and they do not believe in this. Same case is with me. And cause people do not believe what is hidden.

If any of us (Bitcoin holders) die and we left no instructions to our family on how to claim the satoshis then these are essentially lost forever.
I recall a story of a guy who turned millionarie because of Bitcoin back in 2017-2018, he decided to take some vacations in Mexico to celebrate, but unfortunately he ended up dying during his travel. Since he did not leave behind instructions for his family and his Bitcoins were protected by a passphrase he took his Bitcoins to the grave, leaving nothing for his loved ones.

[Rikafip]

I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Maybe its just me, but tt feels kinda weird to store my crypto backup in bank. With that being said, I do have contingency plan set and people that are very close to me are explained what to do in case something happens to me. I don't have millions (at least not yet  ), but it would be a shame to go to waste.

Bitcoins, for once more, have the advantage to be signed as inheritance, without revealing the private keys / location. See Using Locktime for inheritance planning, backups or gifts.

Huh, definitely a good solution if you are extra paranoid/careful, or if you don't have anyone that you trust enough with something like this. Even though I doubt I'll ever use it (at least not for inheritance but I might for the gift), will check it out. Thnx for sharing.

[DdmrDdmr]

<...>

There are quite a few threads on the matter at hand, as it is likely a recurrent question that we all ask ourselves every now and then, or at least should (and more than once). Besides the legal procedure that may be defined to a certain degree on a per country bases, there is the actual, let's say, technical side of things to consider – meaning how any potential heir may gain access to the bitcoins.

One of the threads to read though would be this one:
Halloween inspired poll –would your Bitcoins get passed on if you suddenly died?

It offers insights into what people have planned in this sense, but also, and rather shockingly (as one might expect though), the poll showed that a very significant amount of people were aware that the chances of their heirs being able to access the bitcoins where small to none – and that is on a biased environment where people tend to become more conscious of these things precisely because we talk about them recurrently.

[OgNasty]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me  and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

When someone dies there is no doubt that things in crypto get lost.  I'm sure we all put in effort to make sure that those who love us would be able to recover certain stashes, I seriously doubt that anyone would be able to recover everything in the event of my death.  I'm not even sure if I know all the different coins and NFTs I've owned on different chains, not to mention airdrops, etc.  This is definitely one of the problems with crypto, but it's also a reason to be bullish as market caps don't take into account lost coins.  I'm not sure how this problem could be solved without biometrics, but I'm not sure anyone really cares.  That's the survival of the fittest attitude.

[Oceat]

You should plan ahead if you think you have someone you can trust or you will need someone to retrieve it or do you want to give it to them as a gift or something before you passed away. There are ways on this forum posted several times when they want to make back-up or a trigger on a website that would send automatically the private key to someone's email if not being active after a certain time like month(s) or year(s).

People in the past didn't know this yet since they think Bitcoin has no value in the future that's why most of them forgot or lost their Bitcoin without knowing how to retrieve it.

[isaac_clarke22]

~

I have not yet done this, but my plan was to write the seed phrase to a piece of paper and hide it somewhere. I would just write it out that they should keep this only for themselves and never ever tell anyone about it.
Those closest to me would know what I am talking about and they would know where to use the seed phrase.
You should see as well what BlackHatCoiner is mentioning by the way.

[Lanatsa]

Normally, when the owner of an asset passes away, the asset is transferred or inherited to his family. For example, a house, or a business (in that case, the stakeholders might earn something too). Gold, however, which is closer to bitcoin than houses and liabilities are, can't be accessed unless he's told them the place he's hidden it.

Bitcoins, for once more, have the advantage to be signed as inheritance, without revealing the private keys / location. See Using Locktime for inheritance planning, backups or gifts.

You are right but nobody like me do not know how to do this. Cause mostly people and also in our family thinks that cryptocurrency is a joke and can be scam and they do not believe in this. Same case is with me. And cause people do not believe what is hidden.

If they are thinking up on that way then they are just basically wasted off that million dollars of yours.  This is the significance on making or letting your family members on whats crypto specially if you are

dealing with it and if they do have that impressions that going opposite into what you are trying to explain then so be it.When you do mind about of those coins of yours if something bad happen into you then

it would be ideal or sensible that you would be making out some set of instructions on how to access it or on how to sell those coins on the time you pass away.
I wont really be tending to put it on a bank safe but rather i would make my personal one.

[Sanitough]

You should plan ahead if you think you have someone you can trust or you will need someone to retrieve it or do you want to give it to them as a gift or something before you passed away. There are ways on this forum posted several times when they want to make back-up or a trigger on a website that would send automatically the private key to someone's email if not being active after a certain time like month(s) or year(s).

People in the past didn't know this yet since they think Bitcoin has no value in the future that's why most of them forgot or lost their Bitcoin without knowing how to retrieve it.

If you care for your assets, then you should learn to value them while you are completely alive. The reason why we need our family too or even a trusted friend to be inclined about bitcoin so that if we pass away, our loved ones can inherit them and use them purposefully. But it will be more satisfying on our part if they will continue what we have started since bitcoin's value will keep on increasing and would mean a very huge amount in the future. Otherwise, once we die, our assets will also be left with nothing and will become useless in the end.

[Rruchi man]

Hello guys just don't get me wrong. As we all know that one day we have to die.

This question has been asked many times on this forum, and it usually gets a lot of answers.

Transferring bitcoins and other traditional assets to next of kin can be different. For other assets, it can easily be transferrable via a will that is legally binding unlike transferring your bitcoins which may require a little more technicality and planning so it doesn't

I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.

I quite agree.

[Welsh]

You decide what happens, however you need to make that contingency plan sooner rather than later if you're worried about securing your inheritors future, if something were to happen to you. Obviously, if your family think it's a joke as you've mentioned, that can make it somewhat difficult. However, there's nothing stopping you from making the wallet that you want to inherit it too, and give that to them. Tell them to keep it safe, and that's all you ask.

At least then, when the event comes they get to decide, and have that option open to them. Most people won't say no to an inheritance. Regardless if it was fiat, Bitcoin or watches they don't wear. If it has a value, they'll likely accept. Even if it's out of honouring your loss.

[Raflesia]

Actually, if I'm not mistaken, there are a number of the same threads discussing this but indeed when we die and no one knows access to our portfolio then indeed this can also die with us in my opinion but there are some things that must be prepared such as inheritance and others.
I personally gave a note which is now entrusted to people I trust in this case if anything happens then I have given this access which will only be given to my family but with a note that I am dead.

[milewilda]

Actually, if I'm not mistaken, there are a number of the same threads discussing this but indeed when we die and no one knows access to our portfolio then indeed this can also die with us in my opinion but there are some things that must be prepared such as inheritance and others.
I personally gave a note which is now entrusted to people I trust in this case if anything happens then I have given this access which will only be given to my family but with a note that I am dead.

No one knows on when we died, whether it would be sudden by accident or via illness, this is why you should really make yourself that prepared because it is really just a waste if you do just let those coins
be lost on void just because you had forgotten on how you should be passing on that one.You cant really be that too confident on exposing your private keys even into your loved ones and we
do know on whats the risk because they could possibly access it without any permission.This is why i do understand on why there are people who cant just trust up even
inside of their own family.This is why some decide on ending up on having those will but its not really something ideal or something that you could trust it out too.

[blockman]

I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

IMO, instead of putting that in a bank safe for which if no one claims that, it will be their property after wards. The better approach I guess is to have your own safe at home and just put it there and let your family or relatives you want to give it open it for you as you pass away.
You can be the one to make those instructions on how they'll gain access to those bitcoins that you left them. It's easy these days but still be careful with the resources because it's better to make a personal instruction so that they won't go to any website or ask it elsewhere that might fool them during the retrieval.

[NicNacCoin]

Cryptocurrencies are becoming more popular day by day. At one time we had very few people working all over the world but now many people work here all over the world.So we can see from here that cryptocurrency has become quite popular now.But the more popular it is the more time people will get hooked on it. Now maybe even our son will work here and I will express my interest to work here myself.And I will leave my wealth bitcoins between them and spread it between them.

[8rch7]

Death is the secret of the creator we will never know when death will arrive, so we must prepare ourselves to do something for our loved ones, because I don't want the bitcoins that I have to die buried with me, I have prepared access to my family, i will leave an inheritance to them, and keep it in a portfolio and i will give all the keys to them by the way i write it on a paper and i keep it in a safe place, i give a will to them on condition that the paper is in a new chest can be opened after I die.

[Esther C]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me  and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

That’s why it’s important to let your family know of important dealings like this abs bring them into it so they have an idea on what’s going on.

[Sarah Azhari]

I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.

I quite agree.

can this make us happy? because the more bitcoin missing, the less supply we will get, so the price will be higher if many demands. This theory may be used by rich people to send their bitcoin to Op_Return or burn the backup. So if love bitcoin and our family let's bring them to know how to access it before we die.

[Iranus]

Normally, when the owner of an asset passes away, the asset is transferred or inherited to his family. For example, a house, or a business (in that case, the stakeholders might earn something too). Gold, however, which is closer to bitcoin than houses and liabilities are, can't be accessed unless he's told them the place he's hidden it.

Bitcoins, for once more, have the advantage to be signed as inheritance, without revealing the private keys / location. See Using Locktime for inheritance planning, backups or gifts.

You are right but nobody like me do not know how to do this. Cause mostly people and also in our family thinks that cryptocurrency is a joke and can be scam and they do not believe in this. Same case is with me. And cause people do not believe what is hidden.

I believe you haven't told them how much the property is worth. I think even if someone doesn't believe in bitcoin or thinks it's a scam, if you say you're holding $1 million worth of assets, let's see how they react, if they don't want to believe, they have to believe. But if we let them know too soon, it can be dangerous for us sometimes, so give it to the person you trust the most.

For me, my parents are also old, they don't believe in these virtual things. But when they see I can make money with my daily job of sitting in front of a computer screen all day and I make even more money than people with college degrees who are working. Maybe they don't know what I'm doing but now they believe in something called bitcoin that can make a profit.

[Zlantann]

Maybe its just me, but tt feels kinda weird to store my crypto backup in bank. With that being said, I do have contingency plan set and people that are very close to me are explained what to do in case something happens to me. I don't have millions (at least not yet  ), but it would be a shame to go to waste.

It is really difficult to trust anyone currently because of the evil thoughts and intentions of men. People are now driven by materialism and uncontrollable desire for wealth that they can even kill because they want to inherit wealth. But the truth is you have to trust someone. My wife was not interested in Bitcoin because she taught it was a scam. But recently she has developed much interest in Bitcoin that she now wants us to invest more. This was achieved through gradual Bitcoin education. If I die, she might only one that would have access to my funds. Afterall all these struggles are for the children and she would be the best person to take care of them. But when my children grow up, I might have to divide my funds and give each one their own keys. But I think in the nearest future there might be a better means of transferring Bitcoin funds to heirs.   

[Darker45]

There are a number of ways to let your family know that you have Bitcoin when you die. For sure, when you die, they will try to get access to your computer, smart phone, files, and other stuff in your room. So you can actually leave a note somewhere indicating that you have Bitcoin funds safely kept in a wallet. You will also include all the information that is needed for them to gain access to the said funds. I guess that would be enough. But a bank safe is also an option.

[Raflesia]

Actually, if I'm not mistaken, there are a number of the same threads discussing this but indeed when we die and no one knows access to our portfolio then indeed this can also die with us in my opinion but there are some things that must be prepared such as inheritance and others.
I personally gave a note which is now entrusted to people I trust in this case if anything happens then I have given this access which will only be given to my family but with a note that I am dead.

No one knows on when we died, whether it would be sudden by accident or via illness, this is why you should really make yourself that prepared because it is really just a waste if you do just let those coins
be lost on void just because you had forgotten on how you should be passing on that one.You cant really be that too confident on exposing your private keys even into your loved ones and we
do know on whats the risk because they could possibly access it without any permission.This is why i do understand on why there are people who cant just trust up even
inside of their own family.This is why some decide on ending up on having those will but its not really something ideal or something that you could trust it out too.

Well in this case it is true because in this case trust is something that is very difficult to do, especially when it comes to your portfolio, even if it is in the family.
But on the other hand we also know that in this case we should have some more preparation about it.
As you said we don't know when we die and the worst can happen even if we don't expect it.

[Oneandpure]

There are a number of ways to let your family know that you have Bitcoin when you die. For sure, when you die, they will try to get access to your computer, smart phone, files, and other stuff in your room. So you can actually leave a note somewhere indicating that you have Bitcoin funds safely kept in a wallet. You will also include all the information that is needed for them to gain access to the said funds. I guess that would be enough. But a bank safe is also an option.

No body know abut when our die coming and necessary give detail data about private key if bitcoin fund saving on hardware wallet or giving all data needed from email, 2fa until mobile phone number if hold bitcoin on exchange market account. Actually need open minds secret with our family about how much assets have and save in bitcoin, when some thing bad happened to us they can recovery and get access to exchange market account or hardware wallet to transfer bitcoin assets we have.

I save bitcoin and several altcoin on hardware wallet and have prepare with all private key data access by my family, actually I have give them guide how to access hardware wallet and give them education about sending bitcoin or altcoin fund to exchange market.

[lovesmayfamilis]

Still not getting Any merit 😁

You can walk through the topics and see how much merit you can get by creating just one really competent topic instead of a bunch of useless ones. You have only recently registered on the forum, but you have already spawned 20 topics with questions that have been discussed thousands of times. 
Also, by copy-pasting other people's articles and begging for merit, you are building yourself a very bad reputation. 
But, on the subject, as long as you have your two dollars, I think you and your family have nothing to worry about.

[Mauser]

I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

If you have 1 million USD invested in bitcoins and other crypto currencies I hope you made a testament that includes all your assets and how the should be split among your family. Without a testament all your assets will go to your wife or children automatically. But if they sing know about the bitcoins all your coins might be lost. The next step would be to guarantee that your family can access your bitcoins. If they only know about your coins but can't access your keys than your coins are lost. With investment above 50,000 USD I would consider renting a safe deposit box at your local bank. There you can store all important information in one place and your family and has no trouble finding them. Alternatively you can also add instructions on how to access and keys to tour will. Then your lawyer will deliver that information to your family.

[rendravolt]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

[Jody.Drummer]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

Bitcoin becomes legacy, maybe so. All assets that we have today are none other than for our families in the future, whatever that includes bitcoin. That's what they should know about this (bitcoin). But it becomes vulnerable to loss. I mean if we tell all our families about the assets we have, because not all family members can be trusted 100% trust, let alone tell us the private keys of our wallets. That's a big mistake in my opinion. It's better to only tell those we trust and can hold on to our beliefs. Or we can also give it with a will.

[KingsDen]

What Happens to Our Bitcoin and Other Assets If We Die?

What happens to our money in the bank if we die without letting any of our relatives know we have money in the bank. Will the bank manager withdraw all the money if they suspect you are no more and start announcing on newspaper and television?
However you want your bitcoin to be when you die, arrange it now you are alive.

Still not getting Any merit 😁

If there's a way to retrieve the ones you have gotten, this topic would have reduced 1 for you and begging for merits will reduce another for you.

Please before you ask what happens to our bitcointalk account if we die, please use the search buttons, many of these topics have been discussed.

[Bobrox]

Bitcoin becomes legacy, maybe so. All assets that we have today are none other than for our families in the future, whatever that includes bitcoin. That's what they should know about this (bitcoin). But it becomes vulnerable to loss. I mean if we tell all our families about the assets we have, because not all family members can be trusted 100% trust, let alone tell us the private keys of our wallets. That's a big mistake in my opinion. It's better to only tell those we trust and can hold on to our beliefs. Or we can also give it with a will.

No doubt with all assets in our hands today become the owner for our families later actually after we die include with bitcoin, but have exceptional if our family know about private key or document with exchange market access used for saving bitcoin fund. Alive and have chance for giving document or private key to our families not bad way tell them about how much bitcoin assets have and save on which one exchange market or hardware wallet. Lets our family know about detail with Bitcoin fund saving on market and give them little way how to withdraw if our families do not know about Bitcoin way for withdrawing, don't make Bitcoin burning assets because can't withdrawing without know private key and keep exist in our wallet forever.

[dunfida]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

Bitcoin becomes legacy, maybe so. All assets that we have today are none other than for our families in the future, whatever that includes bitcoin. That's what they should know about this (bitcoin). But it becomes vulnerable to loss. I mean if we tell all our families about the assets we have, because not all family members can be trusted 100% trust, let alone tell us the private keys of our wallets. That's a big mistake in my opinion. It's better to only tell those we trust and can hold on to our beliefs. Or we can also give it with a will.

Better if its on will rather than giving and telling on into your keys when you are still alive.Risks on getting accessed would really be there.I dont really like to put up some doubts and suspicion into my family member but

its better to avoid it for now because its true that 100% trust isnt something that you could guarantee even if we do talk about your loved ones.There's always possible risk or chance that things turns out to be mess
when we do speak about money.

Money can change everything,even if it need to break up someones trust and relation.This is why its better to avoid while its still early.

[DoublerHunter]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

^But the fact is it is hard to trust someone.
I will instead hire a lawyer maybe that holds the key to my safety vault which is where my private key and other valuable things are stored.
When the time comes I will pass away, my lawyer will get those and my heir will surely get my belongings including BTC.
However, we are not alone, there are too many people out there whose BTC has been stuck forever in their wallet because it cannot be recovered due to an unfound private key which is very sad.

[Ihugbogo]

To me bank safe is not an option to have as a backup plan for our crypto wallet asset, what if the bank is been hit by criminals and the safe is being targeted what will happen then?
the best way to me always is to let one or two of your contacts incase of emergency always know about your assets and holding and a bit access to them incase of emergency. by so doing even when one is late their can be chances of assets recovery from their.   

[len01]

for this matter i have thought long ago planning to pass my crypto assets to my son.
when i already have a plan to pass down the bitcoin assets that i own to my children and my wife now the brand has started investing in bitcoin. and long ago i have passed down all the private keys i have to my wife and children. so that when i happen something fatal there are still my two families who continue my investment.
and i am grateful that since i left all my assets, my wife and children have also started investing in bitcoin and every time they buy and always add assets to hold long term

[Pmalek]

Plan ahead and make the necessary preparations while you are still alive. Your family inherits your possessions and assets, unless you make a will and give it all to someone else. This also depends on the country you live in. Some countries don't allow individuals to be excluded from inheriting what is legally their fair share. For example, a father who has 3 sons, can't exclude one of the sons from inheriting his fair share even if he makes a will. He can only do that if the excluded son tried to hurt or kill his parents.

Let's get back to bitcoin. To avoid legal complications and procedures, show your family how to access your crypto and what to do after you are dead. Even if your heirs inherit everything you have, including your bitcoin, that means nothing if they don't have the means (seeds and keys) to access those coins. That's the beauty and danger of a non-custodial asset.   

[Leviathan.007]

This question is a bit old and repeated for many times in this forum, the answer can be different for many people depending on how they think. Some people including myself write the recovery seeds on a piece of paper and they make sure that their kids or inheritors will get access to the bitcoin by reading that piece of paper after their death, surely keeping that note secure until their death can be challenging for everyone. but some other people prefer don't let anyone get access to their assets and bitcoins after their death, so the bitcoins will lose forever if they die.

[kryptqnick]

This topic has been discussed before in various threads. If a person dies before making any arrangements for the coins and if nobody finds a password or a passphrase afterwards, then the coins are as good as burned: they exist, but nobody can ever access them. So yeah, it's up to everyone to think about what a person wants to do with BTC in an event of death. BlackHatCoiner mentioned LoyceV's Locktime thing, which is an interesting solution. In my case, I have a person I fully trust who has access to my coins, and another person who can figure out access to my coins if necessary.

[Issa56]

When you die and nobody knows your private key then your bitcon is gone, no matter how many bitcoin you are having all is gone, so it's better you secure your private key in a place where it can be seen after your death, so that your bitcoin won't just remain in your wallet forever, I know this have happened to lot's of people, most of them won't back up their private key where their relatives will be able to see it, some people's relatives don't even know they are having bitcoin in their wallet, why some people's relatives don't really know about bitcoin, so if you die then your bitcoin is wasted because it will remain in wallet forever and it won't be accessible.

Still not getting Any merit 😁

I don't get you, did you write the post because of merit? I don't see anything special in the post, similar thread have been created before, so I don't think anything is special that really deserves merit, anybody that wish to give you merit will definitely give, you don't have to be begging for merit. if you create a thread it's not compulsory to give you merit, anybody that wish can give you and if anybody those not wish to give you then they won't give you.

Please before you ask what happens to our bitcointalk account if we die, please use the search buttons, many of these topics have been discussed.

I think how to use a search button should be among the pined posts, atleast newbies joining the forum won't have to be creating threads that have been created multiple times before, am sure some newbies on the forum don't know about the thread and they don't even know how to use the search button.

[The Cryptovator]

You should manage something right now since you are thinking about what happens after you die. Have to teach your family members or have to trust someone else who knows everything about how to recover. I managed a notebook to manage all my credentials related to cryptocurrency. So in case of death, someone should be able to handle the funds. I wrote a couple of a number of my dearest friends who are able to recover. And I am teaching my family members as well. But the notebook is under my control of me. I don't trust anyone right now.

[tranthidung]

You should manage something right now since you are thinking about what happens after you die. Have to teach your family members or have to trust someone else who knows everything about how to recover.

Exactly a must thing to do.

A true story from my experience. Years ago, in early of 2018, my friend asked me what happens if someone dies and his coin on cryptocurrency exchanges. I introduced him about crypto and he asked this question after reading news about a sudden death of a CEO of an exchange (I think you knew that case too). I told him that he should write down his email, email password, exchange account information (password, 2FA) and any related thing to his accounts.

I also told him that even his wife can get access to his phone, email but if suddenly exchanges ask for KYC before approving withdrawal request, it will become terrible case.

Unfortunately, he died in a motorbike accident a few weeks later. His wife fortunately has a notebook in which he wrote down all things but does not know what to do with it. She came to me, asked for help and all went well.

From this story, if anyone does not make backup of such things, a sudden death will be a termination of all cryptocurrency assets on exchanges or in custodial wallets too.

I managed a notebook to manage all my credentials related to cryptocurrency. So in case of death, someone should be able to handle the funds. I wrote a couple of a number of my dearest friends who are able to recover. And I am teaching my family members as well. But the notebook is under my control of me. I don't trust anyone right now.

You did a good plan B.

[qwertyup23]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

Yup you are right- most tangible assets are transferred to your respective heirs (mandated by law) and/or to the persons stipulated on your last will/testament. In case of cryptocurrencies, since the latter is not regulated by any institution, it is up to you on how you would transfer your assets in case that you meet an unfortunate death or accident.

Generally, it is somehow dangerous to keep your private keys with someone else. I do suggest, however, that you put them inside a deposit box and name someone as the beneficiary of such in the event that something happens.

[BTCat]

You can create a file with manual on how bitcoin works and how and where your coins are stored and retrievable.

Obviously non tech people will need assistance, as long it is clear who becomes the next owner.

It's no different as other assets. If there is no one that knows of the crypto's it will go lost without anyone caring about it.

[Jody.Drummer]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

Bitcoin becomes legacy, maybe so. All assets that we have today are none other than for our families in the future, whatever that includes bitcoin. That's what they should know about this (bitcoin). But it becomes vulnerable to loss. I mean if we tell all our families about the assets we have, because not all family members can be trusted 100% trust, let alone tell us the private keys of our wallets. That's a big mistake in my opinion. It's better to only tell those we trust and can hold on to our beliefs. Or we can also give it with a will.

Better if its on will rather than giving and telling on into your keys when you are still alive.Risks on getting accessed would really be there.I dont really like to put up some doubts and suspicion into my family member but

its better to avoid it for now because its true that 100% trust isnt something that you could guarantee even if we do talk about your loved ones.There's always possible risk or chance that things turns out to be mess
when we do speak about money.

Money can change everything,even if it need to break up someones trust and relation.This is why its better to avoid while its still early.

In this case it is true and as you said because with something like this it is clear that if you do not fully believe it will actually boomerang for yourself.
But indeed on the other hand it will be very difficult too if we do not make any plans from now on especially for the age obviously no one knows.
There must be a third person like a Notary, maybe this can be used as an option, but indeed this is still another risk because we really have to find someone who can really be trusted in this matter.

[adzino]

It's simple. If no have has access to your private keys, then the coins are lost forever unless someone somehow manages to get into your computer/wallet to withdraw the coins which in this case means you haven't completely kept your coins secured. So when you die and no one has access to your coins, the bitcoins are lost forever. This will create more scarcity of the coins. If you want

I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.
-snip-

So the bank will have access to your keys? If you really want someone to inherit your "coins", then just share parts of the keys with your lawyers or different family members and when you pass away, let they act together to recover your coins.

[Ayers]

I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

it is also a way but for me, i create a full backup file of all the necessary information accessible to my crypto assets and give it to my wife to keep. although she doesn't know anything about cryptocurrencies at the moment, in the future i will slowly teach her about basic usage such as how to recover and access assets as well as related to buying and selling

i would rather give it to my loved ones than transfer it to the bank. now i try to hard work every day for my family, so i think they are the people i trust the most and deserve to know all my secrets

[_BlackStar]

When you die and nobody knows your private key then your bitcon is gone, no matter how many bitcoin you are having all is gone, so it's better you secure your private key in a place where it can be seen after your death, so that your bitcoin won't just remain in your wallet forever, I know this have happened to lot's of people, most of them won't back up their private key where their relatives will be able to see it, some people's relatives don't even know they are having bitcoin in their wallet, why some people's relatives don't really know about bitcoin, so if you die then your bitcoin is wasted because it will remain in wallet forever and it won't be accessible.

Bitcoin is not lost just because someone can no longer access the wallet, it just stays forever on the blockchain without being able to be moved. Bitcoins are not stored in a wallet, so your wallet only provides a private key to transfer the bitcoin to your other bitcoin address.

One might have to think about having a backup of his wallet file ^{[private key or seed]} and securing it somewhere. Bitcoin can be inherited, there are several ways to do it and I think that could be considered. But if someone doesn't do it before his death, then of course the bitcoin will forever be stored on the blockchain.

[awik p]

When you die and nobody knows your private key then your bitcon is gone, no matter how many bitcoin you are having all is gone, so it's better you secure your private key in a place where it can be seen after your death, so that your bitcoin won't just remain in your wallet forever, I know this have happened to lot's of people, most of them won't back up their private key where their relatives will be able to see it, some people's relatives don't even know they are having bitcoin in their wallet, why some people's relatives don't really know about bitcoin, so if you die then your bitcoin is wasted because it will remain in wallet forever and it won't be accessible.

Bitcoin is not lost just because someone can no longer access the wallet, it just stays forever on the blockchain without being able to be moved. Bitcoins are not stored in a wallet, so your wallet only provides a private key to transfer the bitcoin to your other bitcoin address.

One might have to think about having a backup of his wallet file ^{[private key or seed]} and securing it somewhere. Bitcoin can be inherited, there are several ways to do it and I think that could be considered. But if someone doesn't do it before his death, then of course the bitcoin will forever be stored on the blockchain.

this is the main problem for us to lose assets in cryptocurrencies, where the private key is the main key to open assets, at least we tell someone closest to us to know where our files store assets. that way the assets we have can be useful for our families. I don't think anyone has been able to open a wallet without the owner's private key, even phishing requires an access process to get the private key, not looking for it yourself to get it

[abel1337]

If you did not share your keys to someone or you even didn't store your private key on  somewhere where your loveones can't find it, The asset you have in your wallet will basically be untouched forever unless it is store in a custodial wallet where there's a possibilty of being touched. Just make preparation incase. Personally I've got some few ways where my loveones or the one close to me can recover or inherit my funds. I put it somewhere where the only one who can access or find it is the closest to me.

 Extra tip in making a preparation. Put some trick on your instructions, just like treasure hunting! I'm sure it's fun. Also,  make sure that the only the one closes to you will open your wallets.

[LoyceV]

I have a person I fully trust who has access to my coins

Aren't you afraid of adding a second point of failure (for instance from a $5 wrench attack)? You're the first point of failure, and if you make a terrible mistake, you lose your coins and have only yourself to blame. But giving someone else the same access is a huge risk, even if they don't take your coins on purpose.

[KingsDen]

Please before you ask what happens to our bitcointalk account if we die, please use the search buttons, many of these topics have been discussed.

I think how to use a search button should be among the pined posts, atleast newbies joining the forum won't have to be creating threads that have been created multiple times before, am sure some newbies on the forum don't know about the thread and they don't even know how to use the search button.

I think you have a very good insight here. How to use the search button should be among the pined posts. This sounds good, but I bet you, if such post is pinned only 2 out of 20 newbies might be able to read it.
The forum unofficial rules and other pined posts are always ignored to create topics, such that older members will now reply the thread with the links to the same pinned posts The worst case is that some newbies never return to the topic they created to follow up the conversation. So we have no other option than to continue to caution and report to moderators when necessary.

[Rikafip]

Aren't you afraid of adding a second point of failure (for instance from a $5 wrench attack)? You're the first point of failure, and if you make a terrible mistake, you lose your coins and have only yourself to blame. But giving someone else the same access is a huge risk, even if they don't take your coins on purpose.

I think that risk of giving someone else the access heavily depends on the person you choose. In my case I would even say that it is safer with that person than it is with me as he lives in a rural part of country, and is ex-military who is very cautious and security oriented because of the job he did. On the other hand, if you give it to someone that is close to you and who you can trust not to steal from you but is not really cautious and doesn't care about safety, then you are asking for trouble.

[Davidvictorson]

Still not getting Any merit 😁

Hey fennic, I want to take this time out to point something out to you. You should see earning merits as what is exchanged for knowledge shared according to filliponne. Merits will flow naturally if you shared knowledge, answered the query of a user to their satisfaction, stated an opposing point of view in a respectful and polite manner. You may not believe this but if you hang here long enough, you'd understand. Here's how he put it

It’s all about the knowledge. Try to think about merits as a knowledge exchange: you give merit when you learn something new, you get merit when you teach something new, or you make other people think about something old in a new way. Once you progress in the knowledge you can start answering other users' question and solving their problems, or start contributing to  the forum providing new resources or tools, if you have the skills. Just try to figure out the best way to do so that suits your capabilities and resources.

[Mate2237]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

Ahahah!!! The last paragraph or clause is making me laugh. What do you mean by

Still not getting Any merit 😁

? Do you create the thread for merits or for knowledge or information? The question you asked is a good question but this your last statement spoiled everything.

Let see your first statement. We all know earth is not a permanent place for all the humans. So any how you acquired properties other people will inherit them, (that is for the physical properties) but when it comes to digital assets (cryptocurrency bitcoin), it will lost in the internet, if nobody knows your private key. So with that we were advised to show a trusted sibling or your parents or your friend about your key so in case of any demised, they can withdraw the fund from the wallet and give to your children and if your children are well trusted too, you can show one or two of them so that they can be able to use the fund when you are no more.

[TribalBob]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

it's actually simple, every time we have valuable assets, there must be a careful planning who our heirs will be, even if in small quantities if it is useful in the future, it is mandatory to record it and to whom we will give it

[coinerer]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

it's actually simple, every time we have valuable assets, there must be a careful planning who our heirs will be, even if in small quantities if it is useful in the future, it is mandatory to record it and to whom we will give it

It is very simple but when this simple task is not done properly it is marked as the biggest mistake of the whole life. Those who have no means of recovery or correction. Lost forever. To tell someone in your family member who is your trusted and share your information so that no one in your family has to fall in such a situation.

[glendall]

When you die and nobody knows your private key then your bitcon is gone, no matter how many bitcoin you are having all is gone, so it's better you secure your private key in a place where it can be seen after your death, so that your bitcoin won't just remain in your wallet forever, I know this have happened to lot's of people, most of them won't back up their private key where their relatives will be able to see it, some people's relatives don't even know they are having bitcoin in their wallet, why some people's relatives don't really know about bitcoin, so if you die then your bitcoin is wasted because it will remain in wallet forever and it won't be accessible.

death can't be determined by us, without any preparation or anything
preparing early is also not good because there will be other unforeseen circumstances such as fraud and embezzlement of funds from people we trust to keep our private keys
honestly I'm confused in this case to determine which is the best

[samuraijin]

if you die, you can get rid of your bitcoins by leaving them in your wallet if you don't want your wealth to be inherited, but if it is inherited you have to create a folder to store all the wallet key files into your flash drive, don't forget to provide some kind of tutorial on how to access it. your bitcoins in that wallet and how do you get your bitcoins or your other cryptocurrencies, I think everyone has a will so write it down in paper form or file like PDF for your family or loved ones

[Issa56]

I think you have a very good insight here. How to use the search button should be among the pined posts. This sounds good, but I bet you, if such post is pinned only 2 out of 20 newbies might be able to read it.
The forum unofficial rules and other pined posts are always ignored to create topics, such that older members will now reply the thread with the links to the same pinned posts The worst case is that some newbies never return to the topic they created to follow up the conversation. So we have no other option than to continue to caution and report to moderators when necessary.

You are right, most people won't check the pin post, even the rules and regulations guiding the forum that have been pinned, newbies still those not care to read it, I don't know how many minutes it will take them just to open it and go through it, that's why at the end most of always go against the forum rules and they get banned. some people are just lazy, to be honest just as you said even if the post is pinned newbies won't still open it, but if I tell you it's not only newbies, their are some high rank people that won't still care to open it, they will just go ahead to create thread even if it has been created multiple times before.

[romero121]

All our cryptocurrency holdings serves to be an investment for the entire family. Once after the death, close ones who have got the access to the recovery phrases will be able to take control of the holdings. If we share the recovery phrases with our close ones When we're alive, they can take control over it. Just to overcome such issues it is good to keep it secure in some place or there are legal services to do it.

[carlfebz2]

All our cryptocurrency holdings serves to be an investment for the entire family. Once after the death, close ones who have got the access to the recovery phrases will be able to take control of the holdings. If we share the recovery phrases with our close ones When we're alive, they can take control over it. Just to overcome such issues it is good to keep it secure in some place or there are legal services to do it.

Lots of people do really have doubts even into their family members thats why they do totally keep it as a secret into those private keys or seeds that they do have, which it would really be ending up on full lost of

coins once we die.This is why it would really be a test of trust in towards your family members or you would really be making other preparations which would really be that for your family to access those coins
in case you do die suddenly or unexpectedly.

It would really be such a waste for those money to be wasted on in case you do die.We've been working harder and smarter just for them.So its just right
that they would or should benefit those coins.

[landheer]

if someone dies and the dead person owns bitcoins, and nobody knows that he owns bitcoins, or his family doesn't know that he owns bitcoins? Of course this is very unfortunate because the family who died will not be able to enjoy the investment returns of the person who died, but I think it would be better if the person who invested before investing should inform the family first, that is so that our family can enjoy the results of OUR investment if if WE die first.

[Slow death]

this will undoubtedly be the biggest test of trust that you will have to do with the people close to you when you tell them that you have bitcoins stored and where you kept them and then you will have to give them your private key and passwords and explain everything to them, then you will have to pray for them I hope they are reliable and don't steal money from you, without a doubt there will be days when you don't go to sleep thinking: " did I do the right thing?" but you have no choice, you have to count because if you die all your bitcoin dies with it . in my case I told

if someone dies and the dead person owns bitcoins, and nobody knows that he owns bitcoins, or his family doesn't know that he owns bitcoins? Of course this is very unfortunate because the family who died will not be able to enjoy the investment returns of the person who died, but I think it would be better if the person who invested before investing should inform the family first, that is so that our family can enjoy the results of OUR investment if if WE die first.

the problem is that the family can spend all bitcoin even before the person who told them dies, there is already a lot of fight between members of the same family because of money, unfortunately

[xzy887]

Normally, when the owner of an asset passes away, the asset is transferred or inherited to his family. For example, a house, or a business (in that case, the stakeholders might earn something too). Gold, however, which is closer to bitcoin than houses and liabilities are, can't be accessed unless he's told them the place he's hidden it.

I think that while it is possible to inherit an asset after the owner dies, it is not easy to inherit Bitcoin assets.
Because if the owner of an asset dies and his family inherits the asset.
But if he has bitcoin assets then they can't own that asset until they find all the information about his hiding place and location.

[jaberwock]

Bitcoins privacy and decentralised nature had made these conditions that no one except the owner can tell how many or where the Bitcoins are present.
So if you die, then ultimately your Bitcoins will lost.
You need to show some faith, and tell your wife, your son or your closed ones, how to access those Bitcoins if something happens to you.
This is the only way possible to access to your cryptos and prevent it from getting lost, if by chance something happens to you.

Btc isn't totally anonymous and it's possible for someone else to take a peak if how many btc you have by just pasting your address in a site like blockchain explorer. Your family and friends can also tell if how much btc you have if you tell it to them or if they open your wallet. It's a big deal for some especially if they are holding large amounts but it will be a good idea to have a trusted person and lend them your backup keys so that they can be able to use your btc for good once you perish in this world unexpectedly.

I think there are projects created on the past to solve this issue where our coins will be transferred automatically to an active address once there's no activity detected after a long time. I only forgot its name unfortunately but ill try to remember it or will search for it and maybe I'll attach it here.

[smartaction]

It is actually a critical thought that what will happen to our holders of cryptocurrency when we die and who will get that bitcoin . Now if we let some second person alive know about our bitcoins and give them the key of that wallet then any time he can harm us and he can steal those bitcoins.  On the other hand, if we don't tell anyone about our bitcoin relationship and we die, then those bitcoins will be useless and no one will find them, so what should we do?
I think we should write down all our accumulated cryptocurrency in a note and hide it in a secret place.  As if some of our next generation gets them as a treasure after we die.  and can use it

[FanEagle]

When a person leaves his bitcoin wallet and leaves the world without telling anyone, that money is lost. I think every investor must love his family. And they are the ones who own those resources in life. No one can live long on earth. Therefore, those works should be done on time so that their inheritor are not deprived in any way.

I believe that is true for anyone who has a serious amount of money in the bitcoin world. If you leave like $70$ in the crypto world, no matter where you are in the world, that would help your family maybe for a day or two, maybe a week if you are in a poor nation, but it is not a result that would help them for the long term. I know it is hard to talk to your wife and say "when I die.." and then explain, they would be upset even with the idea and may not want to hear it.

However, it is your job to explain to them how they can remove that money, and need to insist if there is a good amount. That way if something happens to you, not only they will be able to withdraw it, but you need to leave like step by step explanation so that they can check that to withdraw.

[Awwal08]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

Oga sir that is why you need to create awareness of what cryptocurrency is for them to know. If you create awareness one of them will remember about your asset after you had gone. Not worry it will not go.

About merit don't just Focus on getting merit be calm, patient and hand work.

[KaliLinux]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

I have seen similar threads with this same question before and they have been well-deserving answers there too but however, I believe this is simple in my opinion. Some of us are fortunate to have good families around us that we have been able to entrust Infos of accessing these crypto assets to, in the eventuality of a case of death. Backups of access to wallets and private keys can be accessed by some family members so that they can have them.

[hd49728]

Btc isn't totally anonymous and it's possible for someone else to take a peak if how many btc you have by just pasting your address in a site like blockchain explorer. Your family and friends can also tell if how much btc you have if you tell it to them or if they open your wallet.

Knowing that you have how many Bitcoin is different than having access to your Bitcoin.

If anyone knows your public address, they can type it on block explorers and check available balance. However if they want to access your Bitcoin, they must know either your wallet password or know your private key. If they know it, they have access to your Bitcoin and can use it for sending, trading, etc.

It's a big deal for some especially if they are holding large amounts but it will be a good idea to have a trusted person and lend them your backup keys so that they can be able to use your btc for good once you perish in this world unexpectedly.

First make your wallet backup correctly
Second store your backup safely and secretly
Lastly, make sure you tell someone you trust about that as a reserved solution when you suddenly pass away.

I think there are projects created on the past to solve this issue where our coins will be transferred automatically to an active address once there's no activity detected after a long time. I only forgot its name unfortunately but ill try to remember it or will search for it and maybe I'll attach it here.

Maybe this one
Using Locktime for inheritance planning, backups or gifts

[Cryptmuster]

It is actually a critical thought that what will happen to our holders of cryptocurrency when we die and who will get that bitcoin . Now if we let some second person alive know about our bitcoins and give them the key of that wallet then any time he can harm us and he can steal those bitcoins.  On the other hand, if we don't tell anyone about our bitcoin relationship and we die, then those bitcoins will be useless and no one will find them, so what should we do?
I think we should write down all our accumulated cryptocurrency in a note and hide it in a secret place.  As if some of our next generation gets them as a treasure after we die.  and can use it

Does it really matter what happens to your bitcoins after you die? In fact, it is worth worrying about their safety while you are alive. You can even conduct some kind of poll here for the sake of interest, how many of the forum members, get at least some kind of inheritance? In the end, the goal of accumulating bitcoin is not to save it all your life and pass it on as an inheritance, but to live a comfortable life, get the opportunity to live an interesting life, travel and be financially independent.

[CryptoBuds]

When a person leaves his bitcoin wallet and leaves the world without telling anyone, that money is lost. I think every investor must love his family. And they are the ones who own those resources in life. No one can live long on earth. Therefore, those works should be done on time so that their inheritor are not deprived in any way.

I believe that is true for anyone who has a serious amount of money in the bitcoin world. If you leave like $70$ in the crypto world, no matter where you are in the world, that would help your family maybe for a day or two, maybe a week if you are in a poor nation, but it is not a result that would help them for the long term. I know it is hard to talk to your wife and say "when I die.." and then explain, they would be upset even with the idea and may not want to hear it.

However, it is your job to explain to them how they can remove that money, and need to insist if there is a good amount. That way if something happens to you, not only they will be able to withdraw it, but you need to leave like step by step explanation so that they can check that to withdraw.

Honestly, our wife or relative is the most trusted place. We're working hard every day for us and for themselves, so there's no reason we can't trust each other. I used to do the same thing with my wife, my experience is that you don't talk about life and death, but say we are husband and wife and both need to share what both deserve. I don't know about the others but with my wife she happily accepted and kept the keys for me. I currently keep a copy for access when needed, and my wife keeps a copy in case something goes wrong.

[bitzizzix]

This thread has been discussed many times, but that's okay because as time goes on new users keep growing and need to know how to do it after the owner dies, and all the answers are good and helpful for those who haven't thought about it or planned. Because death will no one know when, not even looking at age.
and i am personally transparent, i mean because i am married so i am always open with my wife and i tell my wallet and keys a long time ago and also how to use them. And apart from being on guard when death comes, my wife can also do it when I really can't for some reason.

[pawanjain]

It has already been discussed quite a few times and you can use the search box to read more replies on this topic.
Generally there are two things to consider here. One is that the bitcoin holder has already informed about his holdings to his family/known person.
In that case he would have already created a will or informed them on how to access his funds when the time arises.
Second is that the bitcoin holder hasn't informed about his holdings to anyone. In this case, if his family/known person is really luck then he might get access to his funds.
For example, if the bitcoin holder had stored his funds on his mobile or laptop then his family/known person can get access to it if he is lucky.

[fillippone]

To me bank safe is not an option to have as a backup plan for our crypto wallet asset, what if the bank is been hit by criminals and the safe is being targeted what will happen then?
the best way to me always is to let one or two of your contacts incase of emergency always know about your assets and holding and a bit access to them incase of emergency. by so doing even when one is late their can be chances of assets recovery from their.   

What happens if your contact betray you and steal the fund? They can cooperate to steal your funds without you knowing anything.
Is this risk bigger or smaller than the one of thieves robbing the bank?

[defriadi]

I totally agree with that and I've also thought about it. prepare ourselves from now on so that the assets we have are not in vain.

[Rikafip]

Can you share with us what's your contingency plan? I also have some crypto assets and been wanting to make a backup incase anything happens to me especially that I have a medical condition.

I literally explained my contingency plan (no point going into details like "take the seed and import it into xyz wallet") in that post that you just quoted, you might wanna read it again.

I only have a sister and she is not very knowledgeable in this type of technology. My parents on the other hand are very old-fashioned that they think that what I do about cryptocurrencies is just a scam. Even if I leave my backup phrases together with some detailed instruction how to access to it, I don't think they will be able to recover my assets if I die.

People that I trust also don't have a clue about crypto and are not really into tech but I don't think that is impossible even for them to figure things, given how many both written and YouTube guides are there around. After all, you can write them guider yourself and prepare them in advance what to do.

[Franctoshi]

Definitely very simple, what happens to your Bitcoin when you die actually depends on you , weather you let your family member know about it or not. For instance, Just as you have next of kin ,either you let someone in your family whom you trust, the person you normally use as your next of Keen know, and whom you will tell how to go about your digital asset (cryptos) ,give he/she clues on how to get access to those funds when you're no longer alive.

[EarnOnVictor]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

As it is in regular banking, it's supposed to be in crypto, we should document all that we have. Many have a high number of BTC wallowing in some wallets right now after death because they are not wise and too secretive. No one is too young to write their will, anything can happen at any time. As we hope for long life, we can plan an independent sharing with a lawyer, bank and immediate family member (wife/husband, children or others). You might share the wallet with your lawyer, and keep the password in the bank, while the seed phrase is with your wife/husband or children.

This arrangement could also be interchanged as the owner wants.

[Smartvirus]

Do we see this to be some shortcomings on the part of cryptocurrency, privacy and inheritance?
Have you ever thought of it, a case of sudden that, your sudden death and then, you've got all these coins stored away with your private key or seed phrase been kept so private to a point everyone us clueless of even its existence and then, you kick the bucket!

I can never be comfortable in death fo have it all lost with the thousands or millions of others. Its so disheartening and I think, one needs to find the time or moment to put out some ears that can lead to someone actually claiming or inheriting the abundance.

[Lanatsa]

Definitely very simple, what happens to your Bitcoin when you die actually depends on you , weather you let your family member know about it or not. For instance, Just as you have next of kin ,either you let someone in your family whom you trust, the person you normally use as your next of Keen know, and whom you will tell how to go about your digital asset (cryptos) ,give he/she clues on how to get access to those funds when you're no longer alive.

Really simple to say but once we do talk or mention about trust and when it comes to money then even your family wont really be an assured thing that those funds are safe while you are still living.Specially if they

could able to check out that you've been holding a huge amount then temptations is really there always which those funds are always at risk on getting spend up on no time.

If you are really that minding about inheritance of those coins then you could really be finding ways and some people do even suggest on those wills
which i dont even trust up with those things and the storage which it can be forcedly check if someone  permits or even bruteforce.

[Gallar]

if your family or close people don't know about the bitcoin ownership,
then it will not be able to be taken let alone used.

so my advice is that your family must know about your crypto/bitcoin ownership, so that if something happens, your family will know about your crypto/bitcoin ownership.

[BTCapsule]

I created BTCapsule to solve this problem. You can save it to a USB flash drive, enter a year and your private keys, and when the year comes to pass your private keys will be available to whoever you give it to. BTCapsule uses Bitcoin Core to get the timestamp from the most recent blocks, so it can be used offline and doesn’t rely on any centralized time protocol.

BTCapsule is open source, but on my website you can download an executable that is converted to C and compiled to machine code.

Here is the code:

https://github.com/BTCapsule/BTCapsule

Website:

https://btcapsule.com/

[Sandra_hakeem]

Nobody.....I repeat, NOBODY can claim your stock without your priv keys.. with your priv keys, no passphrase is required and the coins are easily claimed, wether or not you're alive or dead.

Therefore,It's imperative for a user to atleast, confide their either passphrases or privkeys to their next-of-kin (yeah, this isn't unnecessary and dangerous as it looks cus you ain't dead yet and, everything is still at your watch) let's say-- your wife, husband or first child could take up as a Kin, so yes, your coins ain't lost.
Now, it all depends on you; if you wanna die with it 😹 (seriously, I'm laughing) I dunno how funny that is.

Sandra 💇

[RockBell]

If your family does not own the crypto asset wallet, it is impossible for them to receive those coins. For this, you should definitely leave the passwords of these wallets to your family.

The world is becoming easier because everything is becoming more digital. As long as your family has access to your private key, it will be simple for them to access the asset. All you need to do is deposit it in a bank for safekeeping and designate a next of kin who will be legally able to claim it in the event of their passing. They can also take the necessary steps to import the seed phrase.

[smartaction]

If your family does not own the crypto asset wallet, it is impossible for them to receive those coins. For this, you should definitely leave the passwords of these wallets to your family.

Who do you give your password to?  Who will you trust?  What's the guarantee that if you give that password to someone on your family while you're alive, they won't cheat on you? So what you can do is write down your passwords in a note and leave it in a secret place so that after you die someone in your family can find it and access your wallet

[sumant]

With our death all Bitcoin or other assets might be zero because no one will recover these assets. Crypto industry is password security place where everything need a tight security to secure you fund in form of a competitive passwords. Some people can share these passwords to their wife's so they can use these assets after you and make some happy in family. For simple process we should talk somebody about passwords.

[Hyphen(-)]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.

We all know that death is unavoidable, but if we die today without informing any of our relatives, family members, or friends about our Bitcoin and wallets, we will die with our assets because they will be unable to retrieve your assets because they do not have your private key.

I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

It is preferable to be your own bank, which is why Blockchain technology is preferable because it is transparent. Bitcoin gives us complete control over our wealth; taking such a file to a bank, as you stated, exposes your privacy, which is against Bitcoin; your privacy is very important, so such backup is not recommended. Because of such deaths, you should inform any of your family members about your wallet and private keys.

[CryptSafe]

This is interesting. You see this is one thing I make people to understand your assets is transferrable to your next of kin as you may wish. What you will have to do is to make sure you have your key phrase stored in a safe place where you can easily retrieve it at any point in time. Sending or keeping your phrase in the bank safe is quite alright but at your safety.  Your private keys should be accessible by your next of kin on your instructions on when to do that or otherwise.  It isn't advisable to keep it much a secret to your family or your next of kin because that is an investment which would definitely grow bigger and better so you will have to have trust in your next of kin to know where you keep your phrase so they can have access to it when you are no more. It is not like bank where you will have to pass through processes that would take much of your time coupled with the stress involved compared to blockchain where you can have access to assets through private keys giving you unhindered possession of to blockchain assets without third party interference.

[Victorik]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

[imamusma]

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

This means that you must be ready to have a solution so that your assets can be transferred if you die later. I mean you have to prepare everything just like you prepare inheritance for your children and family. In bitcoin you may find it easy to do so if you trust one of the nuclear family members, but if not then there are many other solutions that you need to learn so that your assets will be useful for your family in the future.

Have a backup of your wallet and give it to your family that you really trust. But if you mind, then I think you can give it some or in any way you might prefer. Inheriting your assets to your family is important, especially if you care about them because whoever we are will surely die.

[ajiz138]

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

This means that you must be ready to have a solution so that your assets can be transferred if you die later. I mean you have to prepare everything just like you prepare inheritance for your children and family. In bitcoin you may find it easy to do so if you trust one of the nuclear family members, but if not then there are many other solutions that you need to learn so that your assets will be useful for your family in the future.

Have a backup of your wallet and give it to your family that you really trust. But if you mind, then I think you can give it some or in any way you might prefer. Inheriting your assets to your family is important, especially if you care about them because whoever we are will surely die.

Of course this must be planned further about how to transfer assets to our heirs when we die, as I have said in my post, that the private key will not be given to anyone including my family but I will still teach them to know about this so I won't complicate them when I'm not around, just pointing to a place where we store it and that's what we're told while my private key remains secret.

This has to be concerned but I think what is planned must be different, but what is certain is that telling the heirs, especially our children, is important, so basically they want to save wherever they have to be for the plan.

[ultrloa]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

Challenge will not be a challenge if you have trusted guys in the house and tell them up early where your private key stored. For sure those peoples who love you know what you are doing and tell them early what activities you are on so that they will be more aware on it.

If country does not allow it then there are so many ways to store your private key and you can write it up on your notebook so that they can easily access it when unfortunate things happen.

[dunfida]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

Challenge will not be a challenge if you have trusted guys in the house and tell them up early where your private key stored. For sure those peoples who love you know what you are doing and tell them early what activities you are on so that they will be more aware on it.

If country does not allow it then there are so many ways to store your private key and you can write it up on your notebook so that they can easily access it when unfortunate things happen.

Just let them know on where you do store up those notebooks or whatever writings you would really be that storing those keys but its really something that is risky but well everything does have the risk even storing it

digitally or on a ledger or something because it all matters on how knowledgeable into those people who would really be accessing later on when you are already dead.

You should really make yourself that be prepared because we are thriving on earning money for them but i dont really have the trust on exposing my keys when
im still alive yet there's always chances for them to access it not on the right time.

[Henrobakkara]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

It is not necessary that you have to store your Phrase or whatever login information with the Bank. You can simply write them down somewhere and let your trusted family have access to them when such an incident happens like an enveloped message to a lawyer for delivery in the incident of death however there have been many suggested ways to let your family get those crypto assets which are also technical but I believe there must be a trusted person around you to put in the know.

[Victorik]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

It is not necessary that you have to store your Phrase or whatever login information with the Bank. You can simply write them down somewhere and let your trusted family have access to them when such an incident happens like an enveloped message to a lawyer for delivery in the incident of death however there have been many suggested ways to let your family get those crypto assets which are also technical but I believe there must be a trusted person around you to put in the know.

Let me ask you a personal question. Do you currently share your key phrase with any member of your family. If yes, then this your assertion will be valid.

Moreso, besides just sharing these information with close/trusted people around us, no one can tell for sure when they will answer the call of death, so it doesn't give enough time and room for such action.

Personally, I am married and even my wife do not even know my key phrase, partly because she is less interested in cryptocurrency and absolutely nothing you tell her about it.

[Victorik]

 

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

Just let them know on where you do store up those notebooks or whatever writings you would really be that storing those keys but its really something that is risky but well everything does have the risk even storing it

digitally or on a ledger or something because it all matters on how knowledgeable into those people who would really be accessing later on when you are already dead.

You should really make yourself that be prepared because we are thriving on earning money for them but i dont really have the trust on exposing my keys when
im still alive yet there's always chances for them to access it not on the right time.

I think the highlight of what you've just said here is how knowledgeable the people you are exposing your key phrase are.

Even when you share these information with close people, what if they are not knowledgeable about it?
Not everyone understands and know how to recover a wallet using key phrase.

[Sanni_w]

Same question I've been asking myself. I hope binance will not inherit my Bitcoin 😣 . The best thing to do is to write down your key ☺️ and share it with a trusted family member

[FanEagle]

If your family does not own the crypto asset wallet, it is impossible for them to receive those coins. For this, you should definitely leave the passwords of these wallets to your family.

The world is becoming easier because everything is becoming more digital. As long as your family has access to your private key, it will be simple for them to access the asset. All you need to do is deposit it in a bank for safekeeping and designate a next of kin who will be legally able to claim it in the event of their passing. They can also take the necessary steps to import the seed phrase.

Honestly this is why keeping it in exchanges feels a lot easier for me. People say "not your keys, not your money", but reality is that binance would keep your money safe easily, I do not get why wouldn't you feel comfortable with that.

Considering that my 2fa is in my phone, which they can access easily, and open up binance which already has username and password saved on my pc, and use that 2fa, and then access to the funds is quite easy. Will they really want to? I am not sure, it’s not life changing amount, it's tiny, so they may ignore it and nothing would really change, but for someone with a lot more money they could definitely do that easily.

[tjtonmoy]

I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

I don't trust banks. All you can do is make a safe in your own house and let someone in your family know how to deal with it. If the bank knows your secret then they will retrieve it for themselves. So no way i am saving my life's earning to someone else either than my family and loved ones.

But it is totally up to you what you want to do. And live your life like there's no tomorrow. Stop thinking about what is yet to come.

[Henrobakkara]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

The challenge is that unlike Fiat that is kept in the bank, cryptocurrency holders usually do not reveal their key phrase, so it becomes difficult to transfer the assets to a next of kin.

Another thing is that some country do not approve of cryptocurrency meaning you can't store your phrase with the bank.

It is not necessary that you have to store your Phrase or whatever login information with the Bank. You can simply write them down somewhere and let your trusted family have access to them when such an incident happens like an enveloped message to a lawyer for delivery in the incident of death however there have been many suggested ways to let your family get those crypto assets which are also technical but I believe there must be a trusted person around you to put in the know.

Let me ask you a personal question. Do you currently share your key phrase with any member of your family. If yes, then this your assertion will be valid.

Moreso, besides just sharing these information with close/trusted people around us, no one can tell for sure when they will answer the call of death, so it doesn't give enough time and room for such action.

Personally, I am married and even my wife do not even know my key phrase, partly because she is less interested in cryptocurrency and absolutely nothing you tell her about it.

Then we are quite different. My wife knows everything about my crypto life even if she is not really a crypto person and has access to every information pertaining to login and so is my sister who by the way is also a very active crypto investor too. Let me shock you again, I run my other sisters staking platform for her meaning I have all her login details and we all trust each other like that and that was why I used the words "trusted family" I understand it cannot be the same for all of us that's why everyone must do what is best for them in that regard. 

[Hamphser]

I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

I don't trust banks. All you can do is make a safe in your own house and let someone in your family know how to deal with it. If the bank knows your secret then they will retrieve it for themselves. So no way i am saving my life's earning to someone else either than my family and loved ones.

But it is totally up to you what you want to do. And live your life like there's no tomorrow. Stop thinking about what is yet to come.

But its not bad to mind off for the worst rather than making yourself that confident that there's nothing gonna happen on you which you would really be making yourself that too reckless on ensuring things.

We've been working hard and earning wisely for the benefit or our loved ones or family which it would really be just sensible that we would really be finding up ways for them to cherish or benefit out

on what you had worked for and not would really be just wasted in the wrong hands or totally cant really be accesses just because you had forgotten on telling them or setting up instructions
in case you do die.Trust is the main thing on here but there are people who cant just easily trust up.

[Wakate]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

This is always happening in cryptocurrency and it is a very difficult question to answer because many of us, our families and friends do not have any idea whether we have any crypto holdings or not. Some persons, there family or wife does not have any idea if they really have some cryptocurrencies and the major problem is where to find the private key to the wallet because many persons would never disclosed there wallet key to anybody even there wife because of trust which is why it is very difficult to get a genuine or reasonable answers to this question.

[BitcoinAddicts]

It's very simple. You have to make a will with a lawyer.

[CryptSafe]

No one on Earth knows when their time in Earth would be over. So while you are still alive breathing, you should be able to do the right thing in the sense that as a Crypto Enthusiast, you will have to let your next of kin know more about what you are into. Your heir should be able to access your private keys when you are no more so that they can also enjoy the fruits of your labor. It would be very sad that you accumulated massive wealth onchain as a result of your investment in project at their early stage and gradually, those projects turns out to be a mega projects and you had no idea and your next kin by privy of information guy to know you had such investment, they should be able to make a good earns with it to remedy what ever situation they are in so as to cushion their current predicament. If you know it would cause issues amongst your children, you make a Will and instruct your lawyer on what to do when you are no more there. I is as simple as that.

[Antonas1]

~ I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Seems you already have the answer to your question. But don't put the key or backup file in the bank. You can use a metal plate to save your private key or sheed phrase, then keep in your safe-deposit box or another secure place. And don't forget to use hardware wallet like Trezor or Ledger as the most secure wallet, use it and teach your wife or kids how to use.

[Dr.Bitcoin_Strange]

It's very simple. You have to make a will with a lawyer.

 What if the lawyer gets biased and decides to keep the asset for himself after your departure? You know that crypto is just crypt. No one will know, even if you have a billion coins. I don't see it as a wise idea.

~snip~

For me, I have a hard drive and a 500-page notebook. I store all my information and directions for authorization on the hard drive and the note book. These two items are kept just within my reach and no one else's. I will definitely leave my will to my children after my departure, and these two items would be able to guide them through recovering every asset I own on the Blockchain. I have my brother, who I am teaching about crypto. This is a modernized world, so I have plans to teach my children about cryptocurrency as well. If I died one day and they (my children or brother) came across my hard drive and the note book, they would have every piece of information they needed to recover my assets.

Still not getting Any merit 😁

Begging for merit is against the merit system. I guess you are not aware of that. Instead, you could search for some thread (earn merit on quality posts) created by some merit source, and report your post that is of good quality and deserves merit.

[Mahanton]

~ I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Seems you already have the answer to your question. But don't put the key or backup file in the bank. You can use a metal plate to save your private key or sheed phrase, then keep in your safe-deposit box or another secure place. And don't forget to use hardware wallet like Trezor or Ledger as the most secure wallet, use it and teach your wife or kids how to use.

You should really make yourself that responsible on teaching up things on your loved ones because its better that they do have knowledge on how to access things in case you passed away.
Some do really have trust on their family members where they could expose their PK even if they are still alive but there are who doesnt really like on doing so due to some trust issues.
This actually boils down on how a certain crypto earner or holder on how he would be securing out their assets.You wont really be that dumb on not to consider
on putting these things on safe and could be recovered by your loved ones.

[kamvreto]

You should really make yourself that responsible on teaching up things on your loved ones because its better that they do have knowledge on how to access things in case you passed away.
Some do really have trust on their family members where they could expose their PK even if they are still alive but there are who doesnt really like on doing so due to some trust issues.
This actually boils down on how a certain crypto earner or holder on how he would be securing out their assets.You wont really be that dumb on not to consider
on putting these things on safe and could be recovered by your loved ones.

the ones we can trust are the people we love and we know they'll be able to do that by providing some education while we're still healthy and being able to teach them, or providing some guidance that they'll open up later when we're gone. Instead of having to entrust it to a third party like a lawyer, of course there are still doubts. We also really have to imprint heirs on the digital assets we have so they can open them. don't let the stored bitcoins can't be opened again.

[Antonas1]

~

~ You wont really be that dumb on not to consider
on putting these things on safe and could be recovered by your loved ones.

Two simple questions:
1. Is it your goal to collect bitcoins just to enrich yourself and not share with your wife or even your children?
2. Before you die, you know that if you die your wife (and children) will be broke, don't you wanna give your bitcoins to them?

[Maidak]

~

~ You wont really be that dumb on not to consider
on putting these things on safe and could be recovered by your loved ones.

Two simple questions:
1. Is it your goal to collect bitcoins just to enrich yourself and not share with your wife or even your children?
2. Before you die, you know that if you die your wife (and children) will be broke, don't you wanna give your bitcoins to them?

For me, I would put my trust in my wife and children more than banks or any other 3rd service. I work hard and invest, the ultimate goal is to bring happiness and a full life to my family, there is no reason why I don't trust them but trust outsiders. Currently all my crypto assets are stored in hardware wallet and my wife is the holder of it, I have copied my private key into 3 different copies, my wife keeps 1, my son keeps 1, and one for me. For me family is everything, if my family is gone then I have millions of bitcoins will also be meaningless.

[noormcs5]

Same question I've been asking myself. I hope binance will not inherit my Bitcoin 😣 . The best thing to do is to write down your key ☺️ and share it with a trusted family member

First of all, the binance does not have a key. If you have funds in Binance you need to give your password and the 2fa code and probably the email associated with binance too , to the person you trust and become the owner of your funds after your death.
In case if you are storing your bitcoins in a decentralized wallet, you will be giving your private key to your loved ones. However some complications still remains as if you give your wallet access to someone and he misuse it even while you're alive.

[Sarah Azhari]

It's very simple. You have to make a will with a lawyer.

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

[Minecache]

It's very simple. You have to make a will with a lawyer.

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

Lawyers or banks are not as safe as we think, they also have greed and if it is a large amount of money they are willing to ignore morality to get it. I wonder what are we investing or making money for?, for whom? for ourselves or for our loved ones or families. If it's just ourselves, then we don't need to share or inherit it to anyone. And if we do everything for the family, instead of giving the private key to the lawyer, give it to the person we trust most in the family. It's strange how many people don't trust their loved ones but trust their lawyers.

[bitterguy28]

It's very simple. You have to make a will with a lawyer.

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

I think the seed needs to be split to the lawyer and the people you are going to give the funds in case of drying , with this I'm sure there is no one that can take the funds unless they will agreed to each others claim.

giving it completely to the lawyer will surely take the business effect as greediness may take place .

[AicecreaME]

There are two different scenarios that could happen when you die. First, if you didn't plan it early, about what your lawyer would do in case you die, your family will never get the assets you had. Second, if you planned it out early, surely your family will get those things that you've left behind. Death is very unpredictable, that's why it's better to sort things out earlier, for your hardwork not to be wasted.

[Leebabe]

They simply die with us if there's no other person that has access to them. In most cases it's pretty obvious that people don't have access to whatever crypto currency we possess because of the safety of these assets, trying to prevent them from being stolen so we choose not to share the access with anyone even to the point of family members. So If no one knows about it then it becomes lost the same way we lose these cryptocurrencies whenever we lose our recovery phrases or any other means of getting them again

[Antonas1]

~

~ Currently all my crypto assets are stored in hardware wallet and my wife is the holder of it, I have copied my private key into 3 different copies, my wife keeps 1, my son keeps 1, and one for me. ~

Yup, that's a good choice. But it must be confirmed, especially for children, that they are not allowed to unlock the wallet while you are still alive. It would be better if the private key in their hands could be used only when you die, or if you're alive but can't afford to handle it.

[Tony116]

It's very simple. You have to make a will with a lawyer.

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

I think the seed needs to be split to the lawyer and the people you are going to give the funds in case of drying , with this I'm sure there is no one that can take the funds unless they will agreed to each others claim.

giving it completely to the lawyer will surely take the business effect as greediness may take place .

What if the lawyer doesn't want to give the rest or he knows it's too big, he will demand a bigger ransom. Once their work ethic is overshadowed by money, they can do anything. One more thing, we always prioritize privacy and will making will ensure our privacy and crypto assets? In my opinion, there is no need for outsiders to interfere in this matter, give it all to the people you trust most in your family. The people you want will inherit your property when you die.

[bitterguy28]

It's very simple. You have to make a will with a lawyer.

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

I think the seed needs to be split to the lawyer and the people you are going to give the funds in case of drying , with this I'm sure there is no one that can take the funds unless they will agreed to each others claim.

giving it completely to the lawyer will surely take the business effect as greediness may take place .

What if the lawyer doesn't want to give the rest or he knows it's too big, he will demand a bigger ransom. Once their work ethic is overshadowed by money, they can do anything. One more thing, we always prioritize privacy and will making will ensure our privacy and crypto assets? In my opinion, there is no need for outsiders to interfere in this matter, give it all to the people you trust most in your family. The people you want will inherit your property when you die.

Then that will end His reputation as a  Lawyer , there are a written testimony for the lawyer and the owner to sign in and that must be bring when the claims starts to process , and besides who will benefits from those coins if they will not cooperate?  and as A owner of the crypto , surely he will choose the most trusted lawyer and will also Give him better amount to not refuse the will to take in place.
anyway even if there is no interfering from outside ? still this will be complicated if the owner does not trust that big those who will be the beneficiary .

[Sarah Azhari]

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

I think the seed needs to be split to the lawyer and the people you are going to give the funds in case of drying , with this I'm sure there is no one that can take the funds unless they will agreed to each others claim.

That good idea, but the lawyer needs to learn more about the split and how it works, because in some cases many people don't know how to recover (as i know split seed is still new), so when the heir dies, some lost shares and part of seeds, that make lost bitcoin forever. Or maybe better to use multisignature than Split?

[EarnOnVictor]

It's very simple. You have to make a will with a lawyer.

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

I think the seed needs to be split to the lawyer and the people you are going to give the funds in case of drying , with this I'm sure there is no one that can take the funds unless they will agreed to each others claim.

giving it completely to the lawyer will surely take the business effect as greediness may take place .

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

It is good to let people know about your crypto assets but split the access into three. Your lawyer may have a document containing your seed phrase and your wife/children or a trusted ally might know the password. While the wallet name might be documented personally where you keep your files.

[jinmioluwaseyi]

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

[bitterguy28]

It's very simple. You have to make a will with a lawyer.

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

same here mate , this is why I already let my Wife and my Mother about my assets at least when pandemic comes hard to our lives .

Now that I have something in my health ? My mother and Wife will have the full authority of my assets once bad things happens unexpectedly .

we have worked hard from our assets so we are the only one that will decide where this to be settled when were gone.

decide now mate because we cannot withhold our life even if how bad we wanted.

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

if we are not married then yes it may better or at least our parents? but if we are already has family then it is our wife and children.

[Memorabilia]

All my financial assets will belong to my family after I die. They know all about my trading or investing projects.

[Marvell1]

It's very simple. You have to make a will with a lawyer.

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

same here mate , this is why I already let my Wife and my Mother about my assets at least when pandemic comes hard to our lives .

Now that I have something in my health ? My mother and Wife will have the full authority of my assets once bad things happens unexpectedly .

we have worked hard from our assets so we are the only one that will decide where this to be settled when were gone.

decide now mate because we cannot withhold our life even if how bad we wanted.

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

if we are not married then yes it may better or at least our parents? but if we are already has family then it is our wife and children.

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

[eightdots]

It's very simple. You have to make a will with a lawyer.

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

same here mate , this is why I already let my Wife and my Mother about my assets at least when pandemic comes hard to our lives .

Now that I have something in my health ? My mother and Wife will have the full authority of my assets once bad things happens unexpectedly .

we have worked hard from our assets so we are the only one that will decide where this to be settled when were gone.

decide now mate because we cannot withhold our life even if how bad we wanted.

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

if we are not married then yes it may better or at least our parents? but if we are already has family then it is our wife and children.

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

In fact, this question leads one to question family values. How many of our families know about our wallets? Maybe you have a small or very large amount of cryptocurrency. Actually, it doesn't matter the size of your money. Are you investing only for yourself? As in the title, death is a fact and will happen to all of us. Did we take the necessary precautions after we died? Will all our investments be destroyed without the knowledge of our loved ones? We have time to consider them in detail.

[HughMunro]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

My family doesn't think it's wealth, they object to my daily attention to cryptocurrencies, think I've entered a scam, and if I die, they shouldn't cherish my assets or remember that I hold cryptocurrencies.

[mich]

When I die my bitcoins will go to my significant other whoever that is at the time or my children if I have any.
I pity the fool that doesnt prepare for his fate like this and leaves his bitcoins in a wallet, never to be touched again or taken by someone else who some way discovers how to access it.

[Cryptmuster]

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

It's like stories when someone finds a cache of jewels, and there will always be stories like that, it's normal, because there are those who do not trust anyone. In general, we want to create wealth in order to live life in abundance, so we need to distribute it in such a way that we don’t have to pass on a very large fortune to the next generation (just kidding). You need to trust, otherwise it can turn into a paranoid life...

[Marvell1]

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

It's like stories when someone finds a cache of jewels, and there will always be stories like that, it's normal, because there are those who do not trust anyone. In general, we want to create wealth in order to live life in abundance, so we need to distribute it in such a way that we don’t have to pass on a very large fortune to the next generation (just kidding). You need to trust, otherwise it can turn into a paranoid life...

It is not necessary to pass on wealth to the next generation because if they know we have assets to save, they often rely on it without effort. I am following that lifestyle because I myself have not inherited any of my father's assets and I am confident that I can earn more like my father did. But really if in life we don't trust anyone then we will be lonely all our life and can say that we will never succeed, money lost can be regained but family love can never be bought with money.

[sulendra12]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

No one knows when we die, we could expect everything is going alright but we never expect unexpected stuff happen during our life. For me personally, I don't really store in this case hoarding Bitcoin or any altcoin at the moment because whenever I got something from crypto, the portion of that asset will send it to my bank account right away for my needs. I might teach my family about it really soon though if they ever encouraged to even try it, otherwise will store it on my bank.

[xSkylarx]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

If you die, most of your coins will be lost. As you can see, there are bitcoins that have no movements on the blockchain. This is either because their owner died or because someone simply held onto it for a long time. It is best to have a backup plan that you will be making or writing your private key on paper, then storing it in a safe, then inform your family or relatives about it, but just say to them that it needs to be open after you die and explain to them that it is very valuable and very important. It could help them in their lives, but don't mention that it is a bitcoin so they will not think of it.

[wiss19]

In fact, this question leads one to question family values. How many of our families know about our wallets? Maybe you have a small or very large amount of cryptocurrency. Actually, it doesn't matter the size of your money. Are you investing only for yourself? As in the title, death is a fact and will happen to all of us. Did we take the necessary precautions after we died? Will all our investments be destroyed without the knowledge of our loved ones? We have time to consider them in detail.

It’s quite important to leave them something, and my wife has always known about my bitcoin investment. She may not care about what the price is exactly, because it is clear that it goes up and down and she doesn't check it as commonly as I do, so maybe she has no idea about it at exact rate, but she does know about it for a small margin of error, like 10% give or take most days.

That is why it is important to let your loved ones know about it, and that is something that you should at all times do, let them know. Doesn't mean you should go around telling every person that you have money, but it also doesn't mean that you should hide it even from your wife.

[Odusko]

~

~ Currently all my crypto assets are stored in hardware wallet and my wife is the holder of it, I have copied my private key into 3 different copies, my wife keeps 1, my son keeps 1, and one for me. ~

Yup, that's a good choice. But it must be confirmed, especially for children, that they are not allowed to unlock the wallet while you are still alive. It would be better if the private key in their hands could be used only when they die, or if they're alive but can't afford to handle it.

The first thing to do when you open a wallets address is to have your recovery phrase saved for future reference in other for your funds to be secured one or two people you trust needs to have access to all your accounts and security pins so that their can have access to your money wallet when you are no more or out of reach.
I experienced something similar earlier on, and when the individual passed on his accounts could not be accessed, and all the funds in them were locked away forever.

[Vlad1977]

If you don't trust your family members and don't give your private keys to your family members, then even if your family members can inherit your assets, they can't claim your cryptocurrency.
You can inform your family of the private key in advance to avoid any accidents.