Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: TROXIE on February 19, 2021, 08:16:59 AM
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Your private key to your wallet is very important and Should be kept so confidentially that anyone anywhere cannot just gain access to it, it should not be kept even on your system where internet can trace it into the hands of the hackers, once it could be traced, your wallet and token is unsafe.
In this condition, in the process of keeping safe from every reach, if the account owner dies and no one has Access to his or her private key, what will happen to the token in the wallet over time?
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Very simple, I wrote my I'd username and password in my personal dairy. If any eligible member In my family alive ,he can use my account.
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Did you know what happened in centralized system like bank when you die you add your nominee there this is the same thing which you follow in decentralised where you can tell about your digital asset to whom which you can trust blindly it may be your wife your son or anyone.
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I want to give the wallet information to my loved one before I die. If that happens too suddenly, maybe the crypto assets in the wallet will stay idle until a hacker attacks and takes them over. After the death, I won't continue worrying about such matters.
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All the data in my wallets (private keys, hardware) are the property of my closest relatives (brothers), I gave them copies a long time ago. In this life we never know what can happen, so I think it's for the best.
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if the account owner dies and no one has Access to his or her private key, what will happen to the token in the wallet over time?
Your keys is your money.
Blockchain cannot detect if the owner has gone or not.
Therefore, No access means the token will remain forever.
Anticipation is better than in a hurry before the death or whatever unfortunates.
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My wallet adress private key is in my private wallet which after my death my children can find it and make use of it. If you die without anybody knowing your private key your token will remain there forever and it will be wasted.
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Well, we have a family Diary which just myself and hubby has access to it. If anything happens, it can be traced out from it.
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I work all the coins that have received and in the future, all the coins of the form will be from my wallet. We will use them. And all the tokens that will be able to use the next generation from the wallet. After my death, I will show my family's private people to my family. Later, they can use any coins pumping.
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After death of a wallet/crypto holder without the private keys or wallet phrase being known to a third party or the family members, the crypto present in such wallet is as good as gone except they are found later on.
Private keys/seed phrases are one of the beauty of crypto wallets but it might be a disadvantage too in such situation.
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Very simple, I wrote my I'd username and password in my personal dairy. If any eligible member In my family alive ,he can use my account.
Perfectly! This is what we have to do, at least share your private keys with your family members because your money can help them in any way, you never know! It would be very bad to have 10/50 ETH in your account and leave your family in hunger because you didn't share your PK with any of them!
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I will make sure someone in my family will get a hold of my password and account to continue the legacy
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All my private keys are all saved on my HDD since I have no hard wallet yet and when the time comes my family will use it and liquidate it if the value is good they can help them or continue to hold and wait for more years for a best price they can sell.
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It's so scary to imagine it's so dark but I think this thinking is necessary because we don't know how long we will live. but it is very easy to solve it I always write my username and password in the little notes I have so when I die my closest people will know about it. its very simple
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After death your key will be given to your family, or the person you will entrust the key.
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Very simple The subject is this, I wrote my I'd username and password in my personal dairy. If any eligible member In my family alive ,he can use my account.And then he can raise money. You can do the same.I hope you understand.
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This is incredible 😂 as for me if death comes now Hmmm'
All the token on my wallet we be lost forever because don't n disclose it to anyone and am sure no body not even my family members have assets to my wallet so it will remain their still rapture take place, disclosing things to people is not advisable before after telling some one You have a huge Token on your wallet and they know your privacy that person may gang up to kill You so he/she can take over them. But I pray death will not see us
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I have already written my all passwords and I also already told about all my accounts to my mom but I am not having a big amount but in future I will so I have written all my passwords in my personal diary.
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I have already written my all passwords and I also already told about all my accounts to my mom but I am not having a big amount but in future I will so I have written all my passwords in my personal diary.
Well, nothing is safe in this world not even a personal diary. I found a safest way though, bank lockers! Keep your confidential stuff there.
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Very simple, I wrote my I'd username and password in my personal dairy. If any eligible member In my family alive ,he can use my account.
I think It's good idea to write username, password, private key for the family If we are dead.
But I have safe it in my email, I give to my family.
It's more Safe than on diary
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My wallet adress private key is in my private wallet which after my death my children can find it and make use of it. If you die without anybody knowing your private key your token will remain there foreveI work all the coins that have received and in the future, all the coins of the form will be from my wallet. We will use them. And all the tokens that will be able to use the next generation from the wallet. After my death, I will show my family's private people to my family. Later, they can use any coins pumping.r and it will be wasted.
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I will pass on all my information to my family and my children before I die. So that later they can use it in their work But I'm sorry I can't use my hard-earned capital myself. After all, if my son can use the child and get peace even after death.I leave all my information to my children.
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I think It's good idea to write username, password, private key for the family If we are dead.
But I have safe it in my email, I give to my family.
It's more Safe than on diary
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Yeah that's also a better option.
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I will give all the private keys to someone who is trustworthy and do not know about crypto in the form of hdd and asks him to give my family after I'm gone. It will surprise my family after my death.
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The method in this type of scenario is to save your wallet and account details physically too. Or save somewhere online and put all that account details physically..
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I've not seen a better reply to that question though. The questionaire is actually asking what will happen to one's crypto if the person is dead and that's without leaving the private keys. Obviously, the crypto coins or token in that wallet is gone and no one's gonna inherit it unless it can be hacked. That's why it's good to have a trusted one or get a trusted next of kin and reveal the Private keys to him or her.
Thank you.
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That's a good question you ask, everyone has to die one day. It's best to share your personal data with a family member or close friend. Because hard earned money should not be wasted like this. And I gave my data to my friend.
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I need to offer the wallet to my cherished one earlier than I die. If that occurs too suddenly, perhaps the crypto property withinside the pockets will live idle till a hacker assaults and takes them over. After the death, I may not hold annoying approximately such matters.
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I need to offer the wallet to my cherished one earlier than I die. If that occurs too suddenly, perhaps the crypto property withinside the pockets will live idle till a hacker assaults and takes them over. After the death, I may not hold annoying approximately such matters.
Educating the people we want to give our wallets to in the future (if those people have no previous knowledge) on how blockchain and cryptocurrencies work is the best thing we can do. That way we make sure that our funds are used by people we know and that they don't stay forever collecting dust. The steps to teach are simple and easy to memorize, although they are the most basic, nobody should have problems to do it in a few days.
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I will give all the private keys to someone who is trustworthy and do not know about crypto in the form of hdd and asks him to give my family after I'm gone. It will surprise my family after my death.
Don’t assume your family members will know how to transfer your crypto assets back into U.S. dollars once they inherit them. Explain to them how crypto exchanges work, plus help them decide what they’ll do if they don’t want to keep investing in digital assets for themselves.
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I'm glad you mentioned this. I'm not 30 yet but I've been looking into life insurance and things lately and don't think my husband would have thought about the cryptocurrency I have. I'll have to provide him details just in case.
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Your private key to your wallet is very important and Should be kept so confidentially that anyone anywhere cannot just gain access to it, it should not be kept even on your system where internet can trace it into the hands of the hackers, once it could be traced, your wallet and token is unsafe.
In this condition, in the process of keeping safe from every reach, if the account owner dies and no one has Access to his or her private key, what will happen to the token in the wallet over time?
If you share your private key to your family, I think It doesn't matter.
I already did.
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I would think leave that information in a will for your next of kin to access it if you didn't want to disclose the information to them in life. Seems a sad state of affairs if that's the case but it's a waste otherwise.
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I would think leave that information in a will for your next of kin to access it if you didn't want to disclose the information to them in life. Seems a sad state of affairs if that's the case but it's a waste otherwise.
That is something I would never do. Leaving that information (private keys included) written can be a serious mistake, since we can never be sure if the person who keeps those files can see the information they contain. Personally, I prefer to give all available information to my family before I die, along with instructions on how to use the wallets in case I don't have time to do so before I die. Anyway there are several ways to do it, and everyone must choose the way that suits them best since it is a very personal decision.
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well yeah it depends on who knows your wallet key
if it is known by your family then your family can acces your wallet and take the money out
if it is not then they cannot take your money out due to not having the wallet key
so you should at the very least tell your famil or friends or write your wallet key in a diary
so in case of your death they can acess your wallet
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Hmmmm... Wallet haven't introduced any plan, term or policy for this like banks, because in bank's policy you must nominate someone for transferring all your assets to your nominee after your death. Maybe they will do something about it in future.
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Well, if no one knows about your private key then your crypto assets would stay idle forever after your death. But sharing your private key with someone is not a good practice. So we can keep the information about our crypto assets and private key for our loved ones and make sure they get access to that only after our passing.
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Well, we have a family Diary which just myself and hubby has access to it. If anything happens, it can be traced out from it.
that is the one of best strategy we make our portfolio with hard work in crypto word we don't want to waste it anyway we give to much effort and priceless time to make that it's better we give it to someone who deserve this
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What's the difference?
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I would think leave that information in a will for your next of kin to access it if you didn't want to disclose the information to them in life. Seems a sad state of affairs if that's the case but it's a waste otherwise.
That is something I would never do. Leaving that information (private keys included) written can be a serious mistake, since we can never be sure if the person who keeps those files can see the information they contain. Personally, I prefer to give all available information to my family before I die, along with instructions on how to use the wallets in case I don't have time to do so before I die. Anyway there are several ways to do it, and everyone must choose the way that suits them best since it is a very personal decision.
I get that and I would disclose the information to my wife in life was I trust her but you could simply leave a key to a safe with instructions within a will or something so eyes don't fall on the information until such time comes. As you say we have to find the right way depending on our own situations.
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I get that and I would disclose the information to my wife in life was I trust her but you could simply leave a key to a safe with instructions within a will or something so eyes don't fall on the information until such time comes. As you say we have to find the right way depending on our own situations.
Exactly, it is difficult to be able to give a few steps to follow in general. Keep in mind that each one has their personal circumstances, some are married and others are not, others have brothers and sisters, etc, it is almost impossible for each person to follow the same pattern. That is why we must look for the conditions that best suit us and, above all, not make decisions without thinking about them long beforehand, that would be the worst thing we could do and what would later give us more problems.
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Hmmmm... Wallet haven't introduced any plan, term or policy for this like banks, because in bank's policy you must nominate someone for transferring all your assets to your nominee after your death. Maybe they will do something about it in future.
it doesn't seem like it will be done like a bank, because the wallet has its own criteria and nothing can be done by anyone if you don't have the key to open it.
if there is a plan as you think it will get out of the way of the main goal that has been done. there is no other way if you want to be unlocked wallet, you give the key to someone you trust.
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You can always share your password and give access to one person in your family, in case anything may happen to you. Although, you have to be careful who you trust with this information. Beware of hackers, so it’s better to tell someone close to you so you can secure your family’s needs, too.
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Your private key to your wallet is very important and Should be kept so confidentially that anyone anywhere cannot just gain access to it, it should not be kept even on your system where internet can trace it into the hands of the hackers, once it could be traced, your wallet and token is unsafe.
In this condition, in the process of keeping safe from every reach, if the account owner dies and no one has Access to his or her private key, what will happen to the token in the wallet over time?
This is what I have in mind just in case something happens to me. But of course, it's too early for me to say that because I am too young to leave this wonderful planet.
Usually it's good to put it somewhere in a "sacred notebook" and I'll be writing a secret note somewhere in the room that they could find. But I don't prefer notebooks or papers though because they can easily be burned or soaked in water. I would rather store the seed phrases in an aluminum metal by engraving them. Even though that it's kinda time consuming, but still worth it in the end as it won't be affected by either fire or water.
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This is what I have in mind just in case something happens to me. But of course, it's too early for me to say that because I am too young to leave this wonderful planet.
Usually it's good to put it somewhere in a "sacred notebook" and I'll be writing a secret note somewhere in the room that they could find. But I don't prefer notebooks or papers though because they can easily be burned or soaked in water. I would rather store the seed phrases in an aluminum metal by engraving them. Even though that it's kinda time consuming, but still worth it in the end as it won't be affected by either fire or water.
I think it doesn't really matter how old we are, I am not a pessimistic person, but being prepared for anything in life is a positive thing, and that can always help us. Having a plan to have someone in charge of our private keys and wallets is good, educating the chosen person about blockchain and cryptocurrencies even in the most basic things will make everything easier for both parties. This way we will not have to do it at the last minute and we will leave our funds in good hands.
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Bitcoin and all other cryptocurrencies are decentralized, meaning they weren't issued by a central bank or authority. That makes it impossible for anyone to help access a loved one's account when they die, unless they possess the security key (password) and/or seed phrase to unlock their wallet.
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I want to give the wallet information to my loved one before I die. If that happens too suddenly, maybe the crypto assets in the wallet will stay idle until a hacker attacks and takes them over. After the death, I won't continue worrying about such matters.
You are right after death anyone doesn't need anything. The best thing is to rote in you daily so if some thing happens to you your family can use your funds.
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In case of death if you have even millions of dollars no one can access your wallet, For avoiding this you need to trust someone your banker locker is a good choice keep two backup banks lockers and put your wallet keys mention the information is an idea from my thought.
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In case of death if you have even millions of dollars no one can access your wallet, For avoiding this you need to trust someone your banker locker is a good choice keep two backup banks lockers and put your wallet keys mention the information is an idea from my thought.
there is no other way that anyone can do at this time if indeed someone has assets that as you say up to millions of dollars, are in the wallet and he dies but the wallet key is not handed over to someone who is trusted, you can be sure the treasure will be lost, will be with the owner.
but if you have previously handed over the key to the wallet, to open it if it happens to death. It is very different if the money is in the bank because every time you open an account, you will be asked who will be the heirs.
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In case of a sudden tragedy, note down the access information on a piece of paper and keep it safely tucked away and only tell one person who you really trust with your investments, it could be your spouse or anyone from your family.
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In decentralized field no one can axess of any others funds you are the bank of your own and if anyone lost phrase they lose their cryptos forever , before any accident happened i advice everyone to keep your phrases in safe place like locker , on paper but not on computer or on internet .
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You need to keep your private key safe and only share it with one family member in case anything were to happen to you.
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Your wallet would only be accessible to the person you told about it and if you type your keys in your diary so the person get your dairy get the funds if he knows about the Cryptocurrencies .
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You could keep a note of your password in your diary or someplace safe where one family member ; either your spouse or child can access incase of any unfortunate event. You have to be careful though because this is risky and when it comes to finances, you can’t trust everyone.