If only property I have is bitcoin

[SOKO-DEKE]

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

Death is not something we can plan for, so it can come anytime because there is no notification. Now let us know that it is not only when we are ill that we should start thinking about death, but even when we are in good health, because it is not only ill people that do die; even people in good health die; some sleep and never wake up again; some people will get into accidents and instantly die; so death comes in many different ways, not just when someone is ill. So it's better to plan things out now than wait until we are not in good health.
 
It is true that our seed phrase should be properly hidden and monitored by myself because it is something that if anyone has access to, they can access our wallets without our permission. But when we think about death and the fact that one day someone will stop breathing, someone should know that sharing the information about where you hide your seed phrase with someone you trust is necessary because it is the only way that someone will have access to our wallet when we pass away.

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

I don't think keeping the Bitcoin document on your wardrobe will be a good idea because I am thinking maybe someone you may not trust will find out the documents later when you die, so the best way is to look for someone you trust and share that information with them. I think it will be the safer way.

[Wakate]

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

Every person may affected by illness or any kind of accident may happen in his life. Which we can never ignore. Man is mortal, everyone must face that difficult times. And those of us who have invested in Bitcoin certainly have a duty to inform our heirs of this Bitcoin investment. Although this issue has been discussed many times before. In my opinion the most trustworthy and reliable person is to explain Bitcoin passwords and key phrases. A hard copy of these phrases is also required which can be kept in a safe place. There is a high chance of being hacked or stolen on any online platform. So to avoid risk we must write it down in paper. Also, whoever I share my bitcoin assets must be taught how to use bitcoins.

You know, I always say, "If you've got Bitcoin, flaunt it - but safely!" No one wants to leave a treasure map thats missing the big red "X" at the end, right? Your point on jotting down those keys on paper is gold - sometimes, analog better than digital, especially when hacker are getting better. And teaching your heirs about Bitcoin?  No point in giving them a shiny new toy if they don't know how to use it. You're exactly right, though. This is a complex combination of trust, teaching, and being ten steps ahead. Don't lose those keys, and keep learning

Holding Bitcoin alone can even worth more than the thousands of the shit coins in the market. The market will keep growing with time and non of the coins in the market can outgrown Bitcoin which is the number one coin in the market with huge market cap and regular trading. It is better to hold Bitcoin which is more safer than many coins in the market combined. Bitcoin is very volatile which we have to consider before we think of investing our money in any way. As the market keep growing, our Bitcoin holdings keep increasing as the market keep going bullish.

[YOSHIE]

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

What about your mother or father, do you still have both or vice versa, according to my understanding there are no children who do not trust their parents, As far as I know, if you don't have a wife or children, the assets you own are completely owned by your parents, not your brothers or sisters.

Another solution, when you are sick, is someone who faithfully accompanies you when you are sick, who cares for and looks after you when you are sick, so tell him about your Bitcoin seeds or assets, For me, loyalty or those who can be trusted, those who sincerely care for us and take care of us in times of illness, are the ones who have the right to receive the Bitcoin that you have, as well as the problem of being able to access your Bitcoin wallet.

The question is who is looking after you during this time, when you are sick, your parents or someone else, in conclusion give them access to your Bitcoin seed.

[Agbe]

First let me say it from the topic. Bitcoin is not a property but an asset. And you don't have to wish yourself dead but to recover quickly. And if you doubt yourself for the survival then give the keys/seed phrase to a trusted family and tell the person to meet one of your friend, who is into bitcoin to sell the coins for him or her. And there is no too much things to think about it. All what is needed is a trusted family member. Well this question as been on people's mind and they have not gotten the needed answer. Really this matter worry people, because cryptocurrency is not like the fiat bank account whereby a next of kin can easily claim the asset. We pray not to sick.

[Renampun]

...

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

Do you not have anyone you can trust, whether it's a partner or close family?

everything you produce in this world ultimately you must pass on to other people, for that reason you should not live alone, in my city there are many cases of someone's property being auctioned by the government because there are no heirs or it was deliberately abandoned.

Steps you can take to keep the Bitcoin assets you own can be passed on to your successors are:

• use a will, however you cannot hide your bitcoin ownership from your family and those closest to you.
• donate it to other people who really need it (usually this is done by people who are really short in age and whose illness is already very serious)

[AprilioMP]

✂️
Really this matter worry people, because cryptocurrency is not like the fiat bank account whereby a next of kin can easily claim the asset. We pray not to sick.

The bank's system of transferring money deposits in accounts to heirs is not as easy as transferring bitcoin assets to heirs which does not require annoying conditions.

Transferring money saved to a bank account is not allowed to just anyone. The bank will ask for documents from the person who will be the heir when receiving funds from an account as proof that supports them. For example, if someone comes to claim heir. Documents such as identity cards that show family members such as wife/husband or biological children.
Transferring ownership of bitcoin assets is very easy — we only need to provide the seed phrase for an address.

Maybe the bank account switching system in each country is different. And what I am conveying is the diversion system that occurs in my area.

[Fuso.hp]

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

One of the most important things you want to know is how your family members can use Bitcoin in your absence if you die. Just like banks pass down their deposits to the family but in case of Bitcoin there is no such system so you have to do everything yourself. Talk to family members about your investments, tell family members you trust about your investments and share your account information with them so that they can use your bitcoins after your death or for other reasons. Be sure to carefully select such people so that they do not use your Bitcoins or transfer your Bitcoins in your presence. If you find such a trusted person, he can certainly use your bitcoins in your absence.

[Russlenat]

It will totally depend on how trustworthy the best family candidate is. If that family candidate isn't some gambling/drinking/drug addict and you generally trust him/her to not take your coins while you're still alive, then probably go ahead.

On the other hand, you can just store your recovery seed and some easy-to-understand instructions in a fire-proof safe.

Definitely. If you trusted someone too much that you become confident to leave your bitcoin onto him, then go for it without doubting. It’s certainly a good thing that there’s actually someone who will continue your legacy about bitcoin, than not to trust at all. After all, your efforts and hardwork on achieving that certain amount of bitcoin will only go into waste if no one will benefit from it that also knows how to invest cautiously and grow your bitcoin in the future.

[flyingcarpet]

It will totally depend on how trustworthy the best family candidate is. If that family candidate isn't some gambling/drinking/drug addict and you generally trust him/her to not take your coins while you're still alive, then probably go ahead.

On the other hand, you can just store your recovery seed and some easy-to-understand instructions in a fire-proof safe.

Definitely. If you trusted someone too much that you become confident to leave your bitcoin onto him, then go for it without doubting. It’s certainly a good thing that there’s actually someone who will continue your legacy about bitcoin, than not to trust at all. After all, your efforts and hardwork on achieving that certain amount of bitcoin will only go into waste if no one will benefit from it that also knows how to invest cautiously and grow your bitcoin in the future.

In fact, this is a very important issue and one of the details we need to pay attention to. It may not be right to trust everyone, even if it is a family member. We must carefully choose the person we give our password to. This situation may not only disturb us later, but may also damage our sense of trust in that person.

It's not easy to predict people's behavior when it comes to money. Therefore, it is necessary to act carefully for both you and your environment.

[doomloop]

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

I hope you are doing okay now since you said you have recovered from the illness. So, your situation is quite complex, because generally, when we have property and also have a family of our own which is our wife and children, what we do in that situation is we write a will and give it to a lawyer so that he can read the will to the family once we are no more. In our will, we can write about the Bitcoin holdings that we have but we wouldn't write the seed phrase in it since there is a possibility that the lawyer might steal them and change the will.

So, the solution could be that you keep your assets in a hard wallet, keep that hard wallet somewhere safe, and then write about it in the will so that your family can get that wallet after reading the will and they can get access to your Bitcoins. If you trust someone in your family, you can also tell them about it without having to go through all that.

[Z390]

Even if you are a very bad person there will always be someone who is very close to you, someone who is always there for you, I pray that healthy spirits finds you and heal you off your illness, it makes no sense to work all your days and let is all go to waste, what about your spouse or family?

Death so come when we don't see it coming, since you can still talk about this I believe that you will be ok, but if we have to discuss about what will happen once we die while having some Bitcoin well, nothing, we all die the same way regarding of whatever we have going on on our lives.

If you are so concerned about your crypto asset, find someone you can trust and share your Bitcoin private key with them, if you don't have someone then do nothing, have your mind of getting better, go for a medical checkup, and hope for the best.

[isaac_clarke22]

~

You can just leave some notes of the seed phrase hidden in somewhere hidden in your room so that even if you're ill they wouldn't even attempt to dig down on your belongings.

In cases of unfortunate scenarios in which I hope doesn't happen OP, they would just find that seed phrase along with your notes so that at least your Bitcoin isn't going to end up a lost one. It wouldn't hurt to pass it to other family members considering that you don't have a family of your own yet (a wife and kid).
Thankfully you already recovered from your illness, by the way OP.

[GbitG]

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

I think the first thing you should not overlook in an illness situation is a will. Which is very important, especially for a bitcoin investor in a decentralized world. Further, according to my theory, who else has the right to an individual's financial assets than his family? So the best way is to leave your seed phrases to your family in a will. So that your family cannot face the difficulties that come later. And if you are alive, then in principle there is no admissibility of the contained will to the government to act on the will.

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

And as for writing the private key on paper, it is possible when your government is honest and fair, protects your assets from outsiders, and does not fail to provide for your family or refer you again after your health and survival.

[The Cryptovator]

If you are so concerned about your crypto asset, find someone you can trust and share your Bitcoin private key with them, if you don't have someone then do nothing, have your mind of getting better, go for a medical checkup, and hope for the best.

There is no alternative to being honest to secure funds for the next generation without informing family members. Really, it's not necessary to share seed phrases or private keys right now. It's better to hide funds and credentials from them as well. You should just inform them that you are related to crypto and hold small funds, and tell them about your wallet credentials. Just make sure wallet credentials are only accessible to you; just after you pass away, your family members could find them.

[robelneo]

1) since I'm ill should I show my family my seed phrase

Free yourself it's not good for an ill person to overthink the body will not heal if the mind is not free from all the worries pick at least two members of your family that you can trust and can understand how Cryptocurrency works.

2) if I die who will take over my Bitcoin since nobody in my family knows my seed phrase.

You will not know who will because you already passed away but the thought of your family benefiting from your investment will free you and will make you feel better and have no regret while breathing your last breath

We never know what's going to happen to us every day since Bitcoin is seedphrase  based you should prepare for any eventualities like leaving a will and instructions on what to do with your Bitcoin.

[Lorence.xD]

If you are so concerned about your crypto asset, find someone you can trust and share your Bitcoin private key with them, if you don't have someone then do nothing, have your mind of getting better, go for a medical checkup, and hope for the best.

There is no alternative to being honest to secure funds for the next generation without informing family members. Really, it's not necessary to share seed phrases or private keys right now. It's better to hide funds and credentials from them as well. You should just inform them that you are related to crypto and hold small funds, and tell them about your wallet credentials. Just make sure wallet credentials are only accessible to you; just after you pass away, your family members could find them.

Sometimes lying could be an alternative option if you're holding huge assets, cause when they have been informed you have wealth in you credential wallets or you're hiding your funds like fiat, they might really ask you for almost everything about payments in the house like bills. I don't want to happen this kind of thing but there's literally cases when people knowing your wealth, they might commit a crime just to get your funds after having your personal information to attain what you've left behind such as properties, money and etc. Maybe hide an complete informative letters so when time comes you could just simply tell them about it.

[YUriy1991]

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

One of the most important things you want to know is how your family members can use Bitcoin in your absence if you die. Just like banks pass down their deposits to the family but in case of Bitcoin there is no such system so you have to do everything yourself. Talk to family members about your investments, tell family members you trust about your investments and share your account information with them so that they can use your bitcoins after your death or for other reasons. Be sure to carefully select such people so that they do not use your Bitcoins or transfer your Bitcoins in your presence. If you find such a trusted person, he can certainly use your bitcoins in your absence.

I think it's true as @Fuso.hp said but, try to choose the right time to talk to the person you trust most, be sure to be ready with some important notes from you to enter and be able to access your BTC assets easily later or if it's a bit difficult you can disburse it to the account concerned and if there is no other choice then hand it over symbolically if necessary using several people as witnesses that you have fulfilled your obligations so that your family can use them wisely later.

[BVeyron]

Sometimes we imagine some mystery of life as we are still living, have you asked yourself of your cryptocurrency investment profit and lost way about if you live by ghost, again have you asked the mystery that behind your investment when it occurs to be profiting, right now I'm thinking to myself and my investment and if only investment I have is bitcoin and when I'm no more who will manage my bitcoin investment and how will my family know about my bitcoin investment. I was ill for some days and I asked myself a two questions base on my only investment bitcoin, the questions are.

1) since I'm ill should I show my family my seed phrase
2) if I die who will take over my bitcoin since nobody in my family knows my seed phrase.

So I was asking myself different questions because I have no wife and no child, then I began to think and be questioning myself if it will be good to at least tell one person in my family my seed phrase or should I keep having the perso secret of my seed phrase personal or should I keep my bitcoin document on my wardrobe were they can easily see my seed phrase, that time I was of full of thinking, thank God  I recover fully from the illness before i return to forum...no sympathy

I think that everyone decides on his/her own whether to give the info about seed phrases to the relatives at some age... Just the same people do with fiat and with other belongings. The only problem with BTC and other cryptocurrencies is that they can't be legally stable. However, during the time when it belongs to the owner, it is also legally unstable, so nothing changes when seed phrase is acquired by the successor. So if relationship with children is good enough, then there wont be any problem, if the relationship is a bit tough, then a couple of wallets are to be lost forever...

[posi]

If you are so concerned about your crypto asset, find someone you can trust and share your Bitcoin private key with them, if you don't have someone then do nothing, have your mind of getting better, go for a medical checkup, and hope for the best.

There is no alternative to being honest to secure funds for the next generation without informing family members. Really, it's not necessary to share seed phrases or private keys right now. It's better to hide funds and credentials from them as well. You should just inform them that you are related to crypto and hold small funds, and tell them about your wallet credentials. Just make sure wallet credentials are only accessible to you; just after you pass away, your family members could find them.

Sometimes lying could be an alternative option if you're holding huge assets, cause when they have been informed you have wealth in you credential wallets or you're hiding your funds like fiat, they might really ask you for almost everything about payments in the house like bills. I don't want to happen this kind of thing but there's literally cases when people knowing your wealth, they might commit a crime just to get your funds after having your personal information to attain what you've left behind such as properties, money and etc. Maybe hide an complete informative letters so when time comes you could just simply tell them about it.

That's why we need to be careful in finding the most trustworthy person to share those secrets with. You cannot arbitrarily choose any person, even if they are our relatives, but there will be this person and that person, not all of them are good people. But you should not be too suspicious and think badly about your loved ones because we are doing everything for them, not just for ourselves. Like me, I work and invest to support my parents and take care of my wife and children, so I have no reason to doubt or doubt them.

[bayu7adi]

First let me say it from the topic. Bitcoin is not a property but an asset. And you don't have to wish yourself dead but to recover quickly. And if you doubt yourself for the survival then give the keys/seed phrase to a trusted family and tell the person to meet one of your friend, who is into bitcoin to sell the coins for him or her. And there is no too much things to think about it. All what is needed is a trusted family member. Well this question as been on people's mind and they have not gotten the needed answer. Really this matter worry people, because cryptocurrency is not like the fiat bank account whereby a next of kin can easily claim the asset. We pray not to sick.

I apply the same approach to my family. Fortunately, I have a friend who understands Bitcoin, although he doesn't invest in it due to his busy business pursuits. He can be considered wealthier than me and is genuinely concerned about helping those less fortunate. His qualifications, in my opinion, are quite sound, as we have been close friends for a long time.

For the youngest member of my family, I have prepared a seed phrase. To convert that into fiat currency, my family member would need to meet with my friend.

What I don't want is for my friend and me to pass away simultaneously. That would mean my Bitcoin holdings would have no value to my family.