When (if Tenable) is The Right Time to Share Your Bitcoin Private Keys?

[OddJobsForBitcoin]

What's your plan for your bitcoins when you die since you've probably not shared your private keys with anyone or have you? Do you have someone you trust enough, say your spouse, to let them in on your BTC private keys or will you be buried with your coins even if there are family or loved ones to whom your bitcoins may be of benefit?
Do you have plans to share the keys down the line?
What if an accident happens and you're incapacitated or worse?

Is it worthwhile sharing the key with someone due to the unfortunate happenstance of the unexpected or do we just coast along with the hope that death is a long way off?

What's your plan for your digital wealth in case you die, suddenly? It's hard for people with no loved ones. What's your advice for such people and what's your own plan for your bitcoins when you die?


For me, I have no plans at the moment, so I hope to gain insight from your comments on what to do.

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[KiaKia]

Some people are stone cold at heart, if something bad happens they don't care about placing their Bitcoin in the hands of another person, some people will rather die burying the secret of rich with them.

This doesn't make them bad, it's just that they don't trust people around them or maybe they don't have someone they really love enough to pass down their private key to, it's all about peoples different mindset and experiences in life.

Even rich men don't want to pass their properties and wealth down to their children, they believe it will weaken them and they won't be able to pursue their own dreams, some believe that the children won't know what it takes the parents to acquire wealth, so they will waste it all away.

I have seen a lot, but I plan to leave mine with my children, I had a ugly childhood and I plan to give my children the best lessons that will help them when growing up, I believe giving up your keys for the ones you love is the best thing you can do.

[Publictalk792]

I have no plans like you.
But I write everything in my diary which is safe in my locker. And I keep the keys of my locker in my pocket. When I will die so my spouse will get it and can access to my locker easily. So there is no issue for me because she can easily access to my locker.
She didn't know much about Bitcoin but now I have taught her much and she and me are still learning much. When I get any information or learn something new I try to teach her too. So she can easily access the Bitcoins after me.

[moneystery]

i have no plans to share my private keys at this time. it's not that i don't trust the people closest to me, but i'm just not sure that they can protect the private key. but even so, that doesn't mean i don't plan not to share my private key with other people, it's just that the timing isn't right, maybe later i'll tell my wife or children about it, because i think that they are the people who have the rights to the assets i own.

[Jegileman]

This is a very important question that don’t often come to mind because we still feel we are doing fine and healthy and expecting to live long to see our savings grow bigger and bigger not knowing that death can come at anytime and take one away knowingly or unknowingly. Since I have not thought deeply about that happening, I haven’t decided to will the private key to anyone yet but since my family knows that I am into bitcoin, I will let them know the importance of the private key and how secretive it is that if when disclosed, we can lose everything.

Whenever I disclose it to them, they will hold it with all their life and not allow any outsider knows about it. Telling them about it all is okay to me since the money will be for all of them and not for just one person to inherit if something later happens. I wish there’s a better way, but I can’t think of any now, I will also follow up on other’s comments to have an idea about it too.

[Zlantann]

What's your plan for your bitcoins when you die since you've probably not shared your private keys with anyone or have you? Do you have someone you trust enough, say your spouse, to let them in on your BTC private keys or will you be buried with your coins even if there are family or loved ones to whom your bitcoins may be of benefit?
Do you have plans to share the keys down the line?
What if an accident happens and you're incapacitated or worse?

Is it worthwhile sharing the key with someone due to the unfortunate happenstance of the unexpected or do we just coast along with the hope that death is a long way off?

What's your plan for your digital wealth in case you die, suddenly? It's hard for people with no loved ones. What's your advice for such people and what's your plan for your bitcoins when you die?


For me, I have no plans at the moment, so I hope to gain insight from your comments on what to do.

Death is inevitable and unpredictable that is why every who cares should prepare for death. Preparing for death in my culture is seen as an abomination but I have seen many losses and problems caused by unprepared deaths.
I don't think anybody has the intention of allowing his Bitcoin to be added to the number that has been lost. Even if you don't have any relatives or dependents, it will not be a bad idea to plan to donate it to charity.

But in this world that is ruled by greed and selfishness trusting someone is becoming risky and difficult. The news is filled with fearful news of people scamming or even killing people who trusted them with sensitive materials.

Some persons might decide to include their bitcoin in wills and put the seed phrase in the custody of a lawyer. Some people also keep it with a trusted custodian for safekeeping. Others who don't care about centralised platforms might decide to put their coin in corporate institutions that offer custodian services. But you could also share the keys with a family member who is trusted. For me, I think who has access to your password or seed phrase should be top secret and shouldn't be discussed in a public forum..

[TravelMug]

What's your plan for your bitcoins when you die since you've probably not shared your private keys with anyone or have you? Do you have someone you trust enough, say your spouse, to let them in on your BTC private keys or will you be buried with your coins even if there are family or loved ones to whom your bitcoins may be of benefit?
Do you have plans to share the keys down the line?
What if an accident happens and you're incapacitated or worse?

Is it worthwhile sharing the key with someone due to the unfortunate happenstance of the unexpected or do we just coast along with the hope that death is a long way off?

What's your plan for your digital wealth in case you die, suddenly? It's hard for people with no loved ones. What's your advice for such people and what's your own plan for your bitcoins when you die?


For me, I have no plans at the moment, so I hope to gain insight from your comments on what to do.

Maybe we can see some answers on the following thread?

• What happens to your Bitcoin when you Die?
• What Happens to Cryptocurrency When You Die?
• What happens to the coins after your death ?
• Bitcoin is private and decentralized, ok but what if someone dies?
• in case of death; mandatory bitcoin deathswitch Dead man's switch
• Possibility of Bitcoin insurance or handover:

[Rruchi man]

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I imagine that an investor with a lot of bitcoins will not die pleasantly knowing that their bitcoins will be lost and will not be transferred to their family who may be in need of serious financial assistance. This is why I think that every investor should plan for their bitcoins like they were to die the next minute.

If you cannot trust a close member of your family, Your wife, your husband, your children, your brothers and sisters, then maybe you can get two lawyers who do not know each other and will be bound by law, split your seed phrase between the lawyers to deliver to your next of kin on the occasion of your death, timely or untimely.

A timelock can also be set, if you die before the time, and it is passed to your family, they will still need to wait for the time on the lock to elapse before they can assess it.

[kryptqnick]

To be honest, similar matters have been discussed in multiple threads before. I have a spouse who can access my BTC, and I also hope that someone else from the family will be able to figure out how to do it in case something happens to both of us. We trust each other, so it's not really a problem for me. And we similarly have access to each other's bank accounts, so Bitcoin isn't different in that regard.
If you don't have anyone you can trust with this, perhaps writing a letter of inheritance and mention the important information in it, so that it can be dealt with when you're gone.

[tjtonmoy]

I still don't have any intention of sharing my secret key with anyone. I am not married yet and people in my family are not technically advanced in order to understand what it actually is. Even if I show them the whole process they won't be able to do it properly or may forget over time. Maybe one day when I get married, hopefully she will understand how it works and I can trust my private key to her.
I don't have that much saving which is worth sharing with others in case something happens to me. If I die it goes to grave with me. But yeah, maybe one day I will share it with someone.

[bitzizzix]

Death cannot be predicted and will definitely happen regardless of time and age, and this must be thought about or planned before the time comes so that the Bitcoin or crypto we own can be inherited by the right person.
And for this problem I did it a year ago, I was married and also had a child who was only 2 years old. So I put my trust in passing my Bitcoin to my wife and I also gave my private key to my wife, and I also gave her directions or a way to access it.
And another reason is because we both are always open to each other on any issues, including financial issues, and he also knows that I have been involved with Bitcoin for a long time. So in my opinion he is the one who is very worthy to be the heir to my Bitcoin and also for my future children.

[electronicash]

i have no plans to bring my coins with me to the grave so i wrote my keys down in my notebook. my wife should see it if ever i suddenly just drop dead. along with the altcoins i hold too.

you can never tell whether you'll have a chance to write it down when you are dying of pneumonia pandemic. if it's very quick like a truck flew right on you while you are just on your porch. just share it with someone you trust and make sure you also tell them no to give away the private key to anyone.

[majeed]

Your digital wealth, especially your bitcoins, is more than just money. It's a legacy that shows you believe in a future without centralised power. Thus, you need to make a plan soon. Sharing your private keys? Yes, it's risky, but there are safe ways. Think of multi-signature wallets. To authorise a transaction, more than one key is needed, which adds an extra layer of protection.
It's still not clear how to plan for the death of digital assets, but things are changing. New services are popping up that combine the technicalities of blockchain with the rules of the law. They can make sure that your bitcoins get to the people you care about without putting your security at risk. You need to be strategic instead of reactive. Even if something goes wrong, your bitcoins shouldn't disappear.

Last, those without family can donate. You might want to set up a trust that gives your bitcoins to a good cause. In this way, your purchase will still have an effect after you're gone. The future of your bitcoins is your responsibility, so plan ahead. It's about leaving a digital trace that says, "I was here, and I made a difference."

[Faisal2202]

What's your plan for your digital wealth in case you die, suddenly? It's hard for people with no loved ones. What's your advice for such people and what's your own plan for your bitcoins when you die

For me, I have no plans at the moment, so I hope to gain insight from your comments on what to do.

This question has been asked so many times by many members, and I have replied to few, I'm telling this because the answer that I am going to give will reflect that I know everyone has to die, it is inevitable, but still, I also did not think of any backup plan for my funds, I just have a mere thought that when I will die my last words would be some kalimas (that are religious terms) and if I will have extra time then I might tell the ones near me about the funds so that they at least would utilize them.

I have no plans, but my little brother knows I am on this forum, and he also knows I have some BTC, but he has no access to my funds, and he doesn't know how to even access them without me) we should have some backup plan for this, and it is also necessary that you give your funds to a responsible and trusted person, and brothers, and friends are one of them, not every person can't be trusted.

[DYING_S0UL]

That's up to you if that's what you want to do. If it were me, I wouldn't share it without making sure that it was handled properly. For me, I would first teach that person how this works and how to handle everything before sharing it. Secondly, I would set a lock period. So even if I'm gone, one wouldn't have full access to my funds all at once. Instead, because of the lock period, a portion of my funds will be unlocked after a designated time. So one won't be able to use all of it recklessly.

[Kasabus]

I know this is really hard for us to find trustworthy person who will continue our legacy or take the benefits from the investment that we started. For me since I'm married, I have my spouse and I'm still starting to teach her about bitcoin and all the stuffs, most especially when it comes to wallet security. I know in the long run I have her got my back that's why I'm now starting to expose to her my stuffs in bitcoin as well as my private keys so that if I encounter sudden death, then I will be confident to leave to her all my bitcoin property.

Death is inevitable that's why we have to always prepare for it. The reason if we can find trustworthy person earlier, the better. But if there's really none, then we will come to bring with us our bitcoin investment in death, since we don't have choice either.

[yhiaali3]

I think this question has been raised several times here in the forum, many solutions have been offered to this problem but for me unfortunately I have not taken any action to share my private notes after my death.

Perhaps people hope to live a long time and do not think about death, so they constantly postpone this important issue. These assets in our wallets belong to our children in the end, and we must find the appropriate way to hand them over to them after our death.

[stadus]

I am currently working hard to be successful with my bitcoin investment so that I can have something to relay to my children in the future.  So that if anything happens to me, it won't be hard to leave them for good because I have already secured their future. So as early as now, I will be educating them about bitcoin and how it works, and most likely share my private keys as well when they reach their mature age to understand the different conditions with bitcoin.

Although I have also my spouse, my better half, but I can see that my children are more inclined on technology which comes to my senses that they're perfect with bitcoin. Luckily, my spouse is just always there to support me whatever my decision is.

[OddJobsForBitcoin]

But in this world that is ruled by greed and selfishness trusting someone is becoming risky and difficult. The news is filled with fearful news of people scamming or even killing people who trusted them with sensitive materials.

This is a timely warning. People are known to kill for money, but who do we trust?

[/quote]

If you cannot trust a close member of your family, Your wife, your husband, your children, your brothers and sisters, then maybe you can get two lawyers who do not know each other and will be bound by law, split your seed phrase between the lawyers to deliver to your next of kin on the occasion of your death, timely or untimely.

A timelock can also be set, if you die before the time, and it is passed to your family, they will still need to wait for the time on the lock to elapse before they can assess it.

 This seems brilliant if the lawyers don't find a way of knowing each other.

i have no plans to bring my coins with me to the grave so i wrote my keys down in my notebook. my wife should see it if ever i suddenly just drop dead. along with the altcoins i hold too.

Seems rather too casual to me. What if she doesn't or someone else does?

[OgNasty]

I think the best way to handle this is to leave a long set of clues that must be followed on different continents so that your heirs spend a great deal of time and effort trying to get ahold of your lost treasure.  It could be a like scavenger hunt you see in the movies.  Really find out who wants it the most.  LOL

More seriously...  Things like this are why some people have been waiting for an ETF to invest in Bitcoin.  People already have succession plans for their traditional portfolios and may not be comfortable taking control of plans to pass on their coins.  It's just not something that most people want to worry about...