Don't Let Your Bitcoin Die With You

[AmaGold70]

Am quite sure that many bitcoin investors have lost their coins this way. Just like we choose next of kin who inherits our properties when we are no longer their, this same method should be used when it comes to bitcoin investing. Among your children or even your spouse, they should be properly educated on how to recover your investment when the need arises.
We quite understand it is necessary to keep our security information secret, but for the case of easy Bitcoin account recovery, your family should be made known how to go about it when you are not there.
Personally, I have lost access to my trust wallet account before as a result of misplacement of security information but the lucky thing was that, their was no significant amount of fund in that wallet. So these are some of the reasons we need to have trust on someone to share your security information with, should in case anything happens.

[Sowat]

Am quite sure that many bitcoin investors have lost their coins this way. Just like we choose next of kin who inherits our properties when we are no longer their, this same method should be used when it comes to bitcoin investing. Among your children or even your spouse, they should be properly educated on how to recover your investment when the need arises.
We quite understand it is necessary to keep our security information secret, but for the case of easy Bitcoin account recovery, your family should be made known how to go about it when you are not there.
Personally, I have lost access to my trust wallet account before as a result of misplacement of security information but the lucky thing was that, their was no significant amount of fund in that wallet. So these are some of the reasons we need to have trust on someone to share your security information with, should in case anything happens.

Loss of the wallet is as difficult as loss of the Bitcoins within the wallet. Inheritance of the Bitcoins is a critical consideration when handling your Bitcoin. I would not just give out my seed phrase to any member of my family. What I would do is make sure that I have someone who knows how to get my Bitcoins back using inheritance and securing the seed phrase.

[Tungbulu]

A relative is better,  there has to be someone in your family you trust the most, a lawyer can only come in when you don't have any one in your family you trust. Anyways I have my next of kin and I will also be willing him my informations, even though you don't have anyone to trust you your children can be there to take over, after all all your properties goes to them after your gone regardless of you trusting them or not so giving to your children is also another good option.

Willing your informations and holdings to your child or next of kin would still require you filling your lawyer in, because if you end up giving it to your child at that early age, you could end up endangering the safety of your asset because they’ll definitely be tempted to take a bite from the cake even though you’ve not officially willed them the assets.

[Lembo69]

Yes, in this case, we should definitely inform someone in the family about our investment, it can be our wife or children or parents. It is good to keep them informed about this, but if you are not confident, you can write it down in detail on a piece of paper and keep it in a place and tell someone in the family about it. But before that, what you have to do is explain to them at least a little about Bitcoin. It is better to discuss how it works, how to save it, how to save it. OP, you must have thought a lot and made such a post, and according to your post, I want to say that we should really inform our children or our very close relatives about our investment. Just like when you save money in the bank, you have to give someone a name, you can tell some things to your relatives if you want.

Then there will be no fear of losing your money. However, it is better not to tell your wallet and seed phrase in advance. I think it would be better to write down the wallet password and seedphrase somewhere and just let them know that it is stored somewhere, and if something happens to me, you can save it. This way, it is actually possible to keep it that way.

[AYOBA]

Most of us buying Bitcoin, doing DCA, using a hardware wallet, or storing our seed phrase safely. But I wanted to ask you a question,

If something happens to me today, will my family be able to recover my Bitcoin?

If the answer is No, then your Bitcoin may be lost forever.

One thing is that some people are very greedy about the money and that’s why you can see some don’t have much of money in banks without next of kin, the same thing happen with those that buying Bitcoin I can say that out of the 100% of people that buying Bitcoin is only few allow their family members know their seed phrase. This is the reason why once some people has gone, there family members find it difficult to recovery their Bitcoin.

Because there’s no way someone can able to recover another person Bitcoin, accept he has his wallet full details if not it can be possibly.

[Youngrebel]

Life is unpredictable this is the more reasons why you need to plan ahead not because you are expecting to die or anything negative but anything can happen. Not revealing your seed phrase to anyone could actually be a form if securing it but at the same time it's not really a good idea because when something happens your entire Bitcoin you have saved up would end up being a waste. Being overly secure with your Bitcoin also has it's disadvantages and this is one of them.

[Bitcoin.com97]

Too much secrecy is bad ,I know the seedpharse is meant for only one person,but I still think and believe that one person should be aware,be it your spouse or one of your kids even one of your siblings to be on a safer side,with the way the life is going now ,I do not see reason to hide everything,even in banks some persons hide everything and don't want anybody to know anything about them which is very wrong , tomorrow is never promised, unless you want your investment to die with you,if not let one person know about your investment.

[Son Of Blockchain (SOB)]

A relative is better,  there has to be someone in your family you trust the most, a lawyer can only come in when you don't have any one in your family you trust. Anyways I have my next of kin and I will also be willing him my informations, even though you don't have anyone to trust you your children can be there to take over, after all all your properties goes to them after your gone regardless of you trusting them or not so giving to your children is also another good option.

Willing your informations and holdings to your child or next of kin would still require you filling your lawyer in, because if you end up giving it to your child at that early age, you could end up endangering the safety of your asset because they’ll definitely be tempted to take a bite from the cake even though you’ve not officially willed them the assets.

It depends on how you train you child and I believe that when you're still alive the child won't want to tamper with it, knowing the consequences of his actions. Infact a child who understand the importance of holding at an early age won't even think of foolishly spending at investment that took his father years to hodl.
 Concerning filling a lawyer, I'll never support that for a digital asset, cause that's still leaving my keys with a third party, lawyers are humans afterall and could tamper with my asset, I'll rather go with the option of storing it in a safe and access of the safe given to my next of kin.

[Out of mind]

It is best to share the investment with relatives and family members who are trustworthy so that they can enjoy your assets after you are gone. After death, your family and children will enjoy your financial assets, if you cannot enjoy them while you are alive, you will not be able to after death either. Therefore, we should make the assets that we are earning and saving for the future so that our children can enjoy them. When a person invests in Bitcoin and tells someone in the family about it, then if he dies, his financial assets will be enjoyed by his family members. Moreover, we know that every person creates future assets for his family and children so that they can enjoy them, so every person tells someone in the family about the money he has saved. However, those who invest in Bitcoin must understand these things completely, so that in his absence, they can fully recover those Bitcoins, so this subject should be taught about Bitcoin.

[Shadiq]

Why not just handle things through a lawyer instead, let them handle it like your every other asset; that is, if it is a really significant amount of Bitcoin. Cause if you say you want to trust a family member with your keys, they probably might take from it even if it's a trusted family member.

And what's the guarantee that the lawyer won't steal your coins. I am definitely not sharing my seed phrase with a lawyer, never! If i am to pick between storing my seed phrase with a lawyer or in a bank safe deposit box, i'd definitely go with the latter, not like i have any intention of using either option, but that of the lawyer is completely off the table.

That said, i do not have any inheritance plan set up right now, though i have an idea in my head of what the perfect one would be, but i have not just gotten myself to do it just yet.

It is safer to leave the seed phrase hanging on the side of the road than to entrust it to a lawyer to store and distribute it. No one would make that mistake, because lawyers are not proven honest people. I would not even recommend relying on a third party for succession planning. It would be wisest to use your own intelligence in this plan.

Consider the level of security in your area and make a plan where your seed phrase will be very safe during your lifetime and there will be no major security risks. Then train your heir in such a way that he knows how to use Bitcoin and can find the seed phrase by deciphering the indicative information you have given.

[Comeacross]

Most of us buying Bitcoin, doing DCA, using a hardware wallet, or storing our seed phrase safely. But I wanted to ask you a question,

If something happens to me today, will my family be able to recover my Bitcoin?

If the answer is No, then your Bitcoin may be lost forever.

What if we teach them to be independent and not rely on our inheritance before we die? We have seen several cases like this that ends up in betrayal. I don't know for others but I don't want to die leaving my investment behind without me enjoying the fruit of my labor. I believe majority of investors have the same wish. The best inheritance you can leave behind for them is to teach them how to make investment to safeguard their own future instead of planning to make them rely on your investment. It's hard to find trustworthy people now even among your blood and that's a big challenge to begin with.

[PVequalNRT]

This is something that needs to well planned, if not properly planned, you can be alive and your bitcoin will be gone even before you, so proper planning is impirtant.

Trust is something that is very hard to get, and to give someone access to your seed phrases, you need to trust them with everything that is why you need to have a trusted person to show your seed phrase.

If one have a child, you need to teach them so many things about crypto which includes basic knowledge, keys and address and how to send bitcoin so that when you leave and you have bitcoin, they can access it if you give them assess to your seed phrase.

Trust is the reason why some people will never believe anyone including his wife or any members when it comes to bitcoin and the reason why is that we have seen how many people get hurt and betrayed by their families after they know that he has a bitcoin, it is very important to make sure your people or someone you trust or your child should know about some of your financial information but some people are very dangerous and immediately they know about money they can do anything get it, and that is the reason why people don’t trust anyone and it is very good to not trust anyone.

[Mr Reporter]

A relative is better,  there has to be someone in your family you trust the most, a lawyer can only come in when you don't have any one in your family you trust. Anyways I have my next of kin and I will also be willing him my informations, even though you don't have anyone to trust you your children can be there to take over, after all all your properties goes to them after your gone regardless of you trusting them or not so giving to your children is also another good option.

Willing your informations and holdings to your child or next of kin would still require you filling your lawyer in, because if you end up giving it to your child at that early age, you could end up endangering the safety of your asset because they’ll definitely be tempted to take a bite from the cake even though you’ve not officially willed them the assets.

It depends on how you train you child and I believe that when you're still alive the child won't want to tamper with it, knowing the consequences of his actions. Infact a child who understand the importance of holding at an early age won't even think of foolishly spending at investment that took his father years to hodl.
 Concerning filling a lawyer, I'll never support that for a digital asset, cause that's still leaving my keys with a third party, lawyers are humans afterall and could tamper with my asset, I'll rather go with the option of storing it in a safe and access of the safe given to my next of kin.

Let me start by saying your points of view of not wanting to involve a lawyer then I feel you're willing to risk your Bitcoin asset…and you think having full trust in your child would always also not solve the problem here… in your reply you've mentioned something about child training with such a massive amount?…do you have an insight into what is called temptation? see let me be clear to you even with a well-home trained kid he or she can still slip… let's say $15k in Bitcoin at the age of 20years hit there possession when they have friends who would want to push them to get a luxury lifestyle…the trending cars, clothes, iPhones…with the words i would just take small Bitcoin to get a life, and boom that's how it starts…And again another idea I think would be helpful is while you’re alive Teach them Bitcoin. Make them run a wallet and make them understand the worth of Bitcoin, don't just place such a massive amount of future wealth in their possession without a perfect teachings

[Tetu100]

Too much secrecy is bad ,I know the seedpharse is meant for only one person,but I still think and believe that one person should be aware,be it your spouse or one of your kids even one of your siblings to be on a safer side,with the way the life is going now ,I do not see reason to hide everything,even in banks some persons hide everything and don't want anybody to know anything about them which is very wrong , tomorrow is never promised, unless you want your investment to die with you,if not let one person know about your investment.

That's true. We can't be always strict on everything, sometimes it's better to be slidely flexible so that thing's won't get spoiled. However, nobody is saying we should display our seed phrase or our wallet details to anyone, that isn't what I mean, what I mean is to entrust it to someone we can rely on when we are no more. It can be our children or someone very close to us, make him or she knows what is pretty going on for him or she to be more conversant with it even when you aren't there to direct them. Hence, by making this happen, even when you are gone for a glorious call (dead), what you have laboured for won't just disappear just like that.

[Stable090]

Life is unpredictable this is the more reasons why you need to plan ahead not because you are expecting to die or anything negative but anything can happen. Not revealing your seed phrase to anyone could actually be a form if securing it but at the same time it's not really a good idea because when something happens your entire Bitcoin you have saved up would end up being a waste. Being overly secure with your Bitcoin also has it's disadvantages and this is one of them.

If u Dey protect your seed phrase, u suppose know say anything fit happen to u any moment, and if anybody doesn’t have access to ur seed phrase, then any amount of bitcoin wey u get don go be that. Just imagine say person die, and him get bitcoin but non of him family member sabi him seed phrase, that means say even if him family members Dey suffer after him death, and bitcoin Dey him wallet, nothing wey dem go fit do, na so dem go continue to Dey suffer.

If u Dey secure ur seed phrase, make sure say u keep am for place wey be say even if person die, e go get 1 family member wey go check that side wey u keep am and dem go see am, dem go fit use d money for anything wey dem want, or make u get one family member wey u really trust make u show am where u hide am, but na person wey u trust well u go show.

[Sammysmart001]

Most of us buying Bitcoin, doing DCA, using a hardware wallet, or storing our seed phrase safely. But I wanted to ask you a question,

If something happens to me today, will my family be able to recover my Bitcoin?

If the answer is No, then your Bitcoin may be lost forever.

What if we teach them to be independent and not rely on our inheritance before we die? We have seen several cases like this that ends up in betrayal. I don't know for others but I don't want to die leaving my investment behind without me enjoying the fruit of my labor. I believe majority of investors have the same wish. The best inheritance you can leave behind for them is to teach them how to make investment to safeguard their own future instead of planning to make them rely on your investment. It's hard to find trustworthy people now even among your blood and that's a big challenge to begin with.

I support with you about this finicaialky idepedebt, this because the Big achievement that one can obtain for his family, is financial independent. But it shouldn't replace the idea of having an inheritance plan for Bitcoin. As our kids grow up and becoming successful for their self our coin accumulation for years shouldnt  be Inaccessible if u are no more again. The main deal here now is that is not for them to really depend on our investment built for long but for our struggle for years shouldn't disappear due to nobody knows how to even recover them. We teaching them and leaving clear recovery it a two different things and are also very important