Quote from: nira09 on Today at 06:00:40 AM

Quote from: Crptomagma on October 27, 2020, 07:19:42 AM

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?

If you die and your family doesn't know that you own a digital asset, Be it Bitcoin or Altcoin, then it will be like a hidden treasure without anyone knowing. It won't be able to move and use forever, unless your family or friend accidentally finds your document containing the private key or recovery phrase and he knows how to use it. Then it will be your very valuable inheritance.

at least informing the closest relatives about the private key that holds our assets is a wiser choice. especially if we are married, of course the money can later be used for the survival of our abandoned family. Of course we don't want our family to be in trouble in terms of the economy, while in fact we still have assets for their lives