Bitcoin as a Decentralized Cryptocurrency has no physical structure just like the bank. It’s basically stored in a digital wallet/account being operated from a mobile device and its security embedded there also. In creating Defi wallet or block chain account no available section for next of kin or third party details Its always advised to keep Recovery Phrase details secret in save location, these will help in recovering the wallet.
Literally bitcoin details remain secret and personal to me. If I continue to keep my details secret of what use would it be to me when I’m no more and my love ones can’t benefit from my bitcoin? Here is my question what happens to the bitcoin of someone who died and didn’t disclose his/her wallet details to anyone? please I need response . Would the bitcoin be abandoned in the wallet forever?? Would it be a waste of bitcoin?
When a person dies and does not take care that his secret keys from wallets are available to someone, then his cryptocurrency will forever remain with him. True, we do not yet know whether he will be able to use it in that other world after his physical death. Therefore, each of us has the opportunity to dispose of our cryptocurrency in advance for this unforeseen tragic event.
It is also quite possible that someday it will be possible to restore access to lost bitcoins, because they still remain on the blockchain. It is possible that quantum computers will soon be able to do this.