Trust: who can be trusted to keep your seeds?

[coolcoinz]

The way I see it, you should approach this the way you approach cash. If you would, for instance, give your money for safekeeping to your mother, you can also trust her with your bitcoin seed. If you don't have anyone who you'd give your money, you're out of luck and will have to hold your seed all by yourself.

Most people have families and somebody who would inherit their life savings. If you're one of those people, you should think of a way for them to also get your BTC. One of the ways that I've mentioned in other similar threads is to divide the seed between your children, or siblings, or your parents if that's all you have. If you die, they'll be able to access the money together and think of a way to share.
The weakness of this method is that if one of them dies before they're able to access and move your coins, the rest won't be able to do it. It's an all or nothing situation.

[Powerjumboo]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

I learned from a neighbor I know very carefully to keep my wallet seed safe. He advised me to keep my wallet seed very safe. He told me in such a way that I should not reveal my wallet seed to anyone, not even to my family. I have not revealed my wallet seed to anyone other than myself and to anyone else. I have kept it a secret from my wife, I have not revealed to her where I have kept my wallet seed. However, I do not support teaching the wallet seed face to face to people I know and friends, keeping it very safe.

[Jating]

There is only one person I trust when it comes to my crypto funds or seed, it is my brother we have access to some of our wallet.

Good for you, but there is a case that I read before that his brother sold all their Bitcoins without him knowing it. I can't find the link though. But it used to be him and his brother who has accessed to it. But later when he check out, all their Bitcoin are gone and the brother sold because he become addicted to gambling.

I think there is no perfect strategy, it could be a combination, like having multisig or then never put your mnemonic phrase in one place as there are a lot of point of failure here. Even your spouse, again, we have seen cases that after a divorce, parties can go after your crypto and it could be part of the divorce proceedings.

[peter0425]

I prefer keeping custody of my seed phrases myself, and only a trusted family member knows where it is but cannot access it easily. If I'm gone or something, the family member can have full access to it.

The safest way is to only give them instructions how to access seed phrases but they wouldn’t get the whole instructions while I still am alive. Maybe a lawyer will hold the last key piece of the instructions so that he can deliver it to my family when I am gone.

In the meantime, completely entrusting your seed phrases to someone even if they are a family member seems risky still. You never know what a person can be when money is involved.

[Muba20]

I prefer keeping custody of my seed phrases myself, and only a trusted family member knows where it is but cannot access it easily. If I'm gone or something, the family member can have full access to it.

The safest way is to only give them instructions how to access seed phrases but they wouldn’t get the whole instructions while I still am alive. Maybe a lawyer will hold the last key piece of the instructions so that he can deliver it to my family when I am gone.

In the meantime, completely entrusting your seed phrases to someone even if they are a family member seems risky still. You never know what a person can be when money is involved.

Many people can do things outside their morality in times of need. That is why it is better to keep their wealth to themselves. But everyone must have a trusted person to whom those seed phrases will be safe if shared. Moreover, a person must find such a trusted person. If he goes to the afterlife, His heirs will be able to enjoy it. One can give an idea of ​​his seed phrase to someone trustworthy, where he can keep it. After his death, they should find it and use it. If something like this can be done, then there will definitely be no mistake. If there is a mistake in choosing a trusted person, then there can definitely be a possibility of losing his assets.

[Despairo]

Good for you, but there is a case that I read before that his brother sold all their Bitcoins without him knowing it. I can't find the link though. But it used to be him and his brother who has accessed to it. But later when he check out, all their Bitcoin are gone and the brother sold because he become addicted to gambling.

We can trust our brother only when he's not married yet, once he married, he will have a lot responsibility and he will use anything he can to fulfill his partner's desire. Because if he's not married, we're still his first and important family, but his most important family now with his wife and his children.

when I see people speak of distrust I wonder how you all choose your partners or spouse if you will keep having doubts that they will steal from you.

Humans are always change, hence even you've pick the best and trust your partners, it's no longer same in the next 3, 5, 10, or 20 years. I've heard many wives divorce with their husband after 10+ years just because their husband business bankrupt.

[Gaza13]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

I learned from a neighbor I know very carefully to keep my wallet seed safe. He advised me to keep my wallet seed very safe. He told me in such a way that I should not reveal my wallet seed to anyone, not even to my family. I have not revealed my wallet seed to anyone other than myself and to anyone else. I have kept it a secret from my wife, I have not revealed to her where I have kept my wallet seed. However, I do not support teaching the wallet seed face to face to people I know and friends, keeping it very safe.

I think in a problem like this at least one of your family should know, I don't think it's too much of a problem if they know our seed wallet. This is your property and you can inherit it later and the one who gets the inheritance can be useful for it from our investment starting. Indeed, what must be avoided in the problem of maintaining a seed wallet like this is outside of your trusted people such as close friends, office friends or others. Yes, sometimes friends can be a boomerang for us, we have to be careful about problems like this, don't be too open with them about how much investment we have.

[fikrett]

The safest way is to only give them instructions how to access seed phrases but they wouldn’t get the whole instructions while I still am alive. Maybe a lawyer will hold the last key piece of the instructions so that he can deliver it to my family when I am gone.

In the meantime, completely entrusting your seed phrases to someone even if they are a family member seems risky still. You never know what a person can be when money is involved.

It heavily depends on the family in question and other factors.

But yeah, while the person is still alive, it's debatable whether others should know everything even then.
 

[Churchillvv]

when I see people speak of distrust I wonder how you all choose your partners or spouse if you will keep having doubts that they will steal from you.

Humans are always change, hence even you've pick the best and trust your partners, it's no longer same in the next 3, 5, 10, or 20 years. I've heard many wives divorce with their husband after 10+ years just because their husband business bankrupt.

Of course it happens frequently in all part of the world, people get divorced especially when you get married to the wrong person because as people divorce from such long term relationship also people stay together for live time so we can't look at one part of the issue, however spouse are people we are meant to confid our secrets with but because they do give benefit of doubts we can know how to manage the issues.

Before one could file for divorce attitudes must have changed lost of things would have given you benefits of doubt to make changes on your seed phrase or whatsoever you have put into their custody hence I always advise people to go for a long term minded woman not one who would want you for the things you have accumulated in the long run.

Since bitcoin is decentralised I even find it difficult to believe that while getting divorced anyone could get a share of my bitcoin or steal my coins because I'm seconds I could move the coins to a place where no one would be able to reach it.

Generally no where is safe but let's make our own safest by setting boundaries to things we discussed or disclose yet make arrangements for unforeseen circumstances.

[Marvell1]

There is only one person I trust when it comes to my crypto funds or seed, it is my brother we have access to some of our wallet.

Good for you, but there is a case that I read before that his brother sold all their Bitcoins without him knowing it. I can't find the link though. But it used to be him and his brother who has accessed to it. But later when he check out, all their Bitcoin are gone and the brother sold because he become addicted to gambling.

I think there is no perfect strategy, it could be a combination, like having multisig or then never put your mnemonic phrase in one place as there are a lot of point of failure here. Even your spouse, again, we have seen cases that after a divorce, parties can go after your crypto and it could be part of the divorce proceedings.

This depends on your brother's personality, and it would be foolish to put your trust in a gambling addict even if he is very close to you. But it won't be a problem if your brother is a normal person, a good person and has a very good relationship with you. Likewise, I have also shared my seed phrase with my brother and wife, and they have kept it safe for me for the past 4 years and I have never had any problem with them regarding this.

In general, each method has its own advantages and disadvantages, depending on each person's situation and circumstances, we have the appropriate choice. We should not use other people's methods/strategies when we are not in each other's shoes and don't be too quick to judge this method as good or bad just because of other people's experiences, not ours.

[Pablo-wood]

I will keep my seed phrase myself but it will definitely be a place anyone can access if anything happens to me. As long as I am alive I should have full custody of my wallet. Every member of my family will obviously have theirs respective seed phrase backed up in a steel metal including mine and they will know I own some coin but won't have access to them until I am gone.

Money has a wild spirit. It's risky trusting even our closest relatives or friends with sensitive information as this because it might cost us our lives. Most similar cases where people killed their own very close pal because of money, some of them can't tell how the got that boldness. So I doubt I will risk it

[red4slash]

As long as in the end there are not some things that could be the worst possibility in the end, why give our seeds to others if we still don't fully trust that person.

Do we even know when we will die?

Today we're in fit condition, very healthy, eat well, go to work, work normal like the daily routine, but during we drive to back home, someone drive really fast and hit our car. You drive very gently and safely, but the one who hit you were drunk, which mean no matter how good we taking ourselves, we never know how long we can live.

We may not know that death is coming because in the end it is still a mystery and we cannot guess when it will happen but that does not mean that the anticipation of the seed slackens and should be given to others so that we feel safe when we die there will be someone holding our wallet because we have given the seed to others.

The conditions can still be minimized because we can still secure without having to tell directly about our seeds clearly from now on so things like this actually depend on your own beliefs.
If in the end you really feel safe and will be calm to give your seed with the risk that you might die at any time unexpectedly then do it but for me there are several things we can do without having to give the seed directly consciously while we are still alive without also feeling that we are afraid that death can make our wallet abandoned and cannot be enjoyed by a partner or descendant.

Death should not be used as a fear to give seeds or phases quickly because it could be that by giving your seeds or phases quickly it will make you like a dead person in the end because you feel insecure because the seeds you have are known to others.

[Becassine]

Unfortunately, notaries witness pitiful scenes every day of families tearing themselves apart over money. In France, you can give to your children during your lifetime without paying taxes (depending on the amount), so perhaps this is a good solution. And if you save for your own retirement but die before then, you stash your seed somewhere and put clues (to find it) in a will.

[dkbit98]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

I would not trust any person 100% with keeping my seed words.
There are several options if you are married with someone, but multisig setup is probably the safest option.
Easy option is to share seed words with your family members, but add multiple strong passphrases for each of them.
In legal terms you can always hire a lawyer, and you can use some inheritance services:
https://thebitcoinhole.com/inheritance

[Natalim]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

Luckily, my daughter is already on the right age to pass to her my seed phrase and educate her on how to keep it safe and secured 24/7. I’m starting to educate her every single day, because there’s no one whom I can trust actually since my wife isn’t into technology. Still, I have to let my wife know about this, in case when unexpected circumstances happen to me.

[Sonia_123]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

In as much as you have a family, that is your spouse and children, it is advice able to share your seed with them and put them through, the same way we share our other assets with our immediate family member, we can still share Bitcoin seed like that, mainly your spouse, he/ she is the next person closer to you, you can't tell me that if you are sick your immediate family can't take care of you, in the same vain you hand your seed to them and inform them when to use it, since they are your blood, no matter anything,blood they say is thicker than water.
You trust your spouse to take care of you and that is why you got married to him/her, which they have being doing the same trust should keep the family going, we don't need to have negative thoughts about entrusting the seed to them, at times it is our reasoning that causes a big problem to our lives, all we have to do is to put them through and pray .

[X-ray]

The problem of seeds is obviously crucial. Can we imagine being the one and only person who knows what to do with these 12/24 words? How to keep them safe, but also how to pass them on to heirs or friends (so that they know what to do with them?). Informing others while preserving your own security can be a real challenge in some countries.
And then there's betrayal, divorce etc...

What are the solutions?

I honestly thinking of solving this with multisig instead that involves 3rd party with contract agreement.
with seed phrase, it's akin of giving up password to other people, they can do something bad with it because they simply have full access, but imagine you're having multisig with your significant other + 3rd party entity that's tied with contract agreement that can be taken into court, if something happens to you, your SO or anyone who got the key can just make a request with the 3rd party entity to approve the tx, basically allowing them access, I think it can be a solution.

because like it or hate it, giving up seed phrase to other people means you're entrusting your entire crypto worth to them and hoping they won't do something funny.

[BlackBoss_]

I honestly thinking of solving this with multisig instead that involves 3rd party with contract agreement.
with seed phrase, it's akin of giving up password to other people, they can do something bad with it because they simply have full access, but imagine you're having multisig with your significant other + 3rd party entity that's tied with contract agreement that can be taken into court, if something happens to you, your SO or anyone who got the key can just make a request with the 3rd party entity to approve the tx, basically allowing them access, I think it can be a solution.

Multisig wallets will cost you more in on-chain transaction fee and you can use single signature wallet, but make sure you set up very strong password for your wallet file so that it's more secured to block accessing attempts to your wallet file. Passwords need to be in green and strong enough to avoid password bruteforce from hackers.

Wallet backups must be made and kept safely and secretly too.

[GUIDE] How to Create a Strong/Secure Password.
Are your passwords in the green?

[Swordsoffreedom]

when I see people speak of distrust I wonder how you all choose your partners or spouse if you will keep having doubts that they will steal from you.

Humans are always change, hence even you've pick the best and trust your partners, it's no longer same in the next 3, 5, 10, or 20 years. I've heard many wives divorce with their husband after 10+ years just because their husband business bankrupt.

Where do you hear these stories from? It seems you also don't know exactly why those wives divorced their husbands, right?

I not only heard about it but also witnessed it with my relatives. The wife asked for a divorce after 10 years of marriage, but do you know what the husband did to his family before that? He has a mistress, beats his wife and neglects his children. Apart from running the company, he hardly cared about his family, causing rifts and divisions in his own beloved home. So what is wrong with the wife asking for a divorce and dividing the assets to take care of the children?

Don't just look at one side of the coin and assume what you see is true. And don't underestimate your woman or any of your loved ones when you yourself are unreliable.

By the way, not to brag but my wife and I have been together for over 14 years and we have never doubted each other. There is no reason why I can't share everything with her, be it bitcoin, gold, or the inheritance my parents left me.

[Despairo]

Where do you hear these stories from? It seems you also don't know exactly why those wives divorced their husbands, right?

In social medias and my acquaintances.

I not only heard about it but also witnessed it with my relatives. The wife asked for a divorce after 10 years of marriage, but do you know what the husband did to his family before that? He has a mistress, beats his wife and neglects his children. Apart from running the company, he hardly cared about his family, causing rifts and divisions in his own beloved home. So what is wrong with the wife asking for a divorce and dividing the assets to take care of the children?

There's a reason why her husband did that, possibly the wife create a lot of drama, demanding too much while she didn't even give the same effort to the husband. Imagine coming home after work, instead of serving a coffee and take off his clothes, your wife ask you to clean while she's just watching movie.

The number of good men are more than good women, I believe that.

Don't just look at one side of the coin and assume what you see is true. And don't underestimate your woman or any of your loved ones when you yourself are unreliable.

Men always trying their best and thinking of possible risk, while women always demand anything must be successful.

By the way, not to brag but my wife and I have been together for over 14 years and we have never doubted each other. There is no reason why I can't share everything with her, be it bitcoin, gold, or the inheritance my parents left me.

Good for you, have you ever in situation where you're unemployed and your wife have a job?