Quote from: xSkylarx on October 22, 2021, 06:44:50 AM

Quote from: Hippocrypto on October 22, 2021, 04:58:50 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 today, your bitcoin will remain in your wallet. Yes, it will be forever left in your wallet if you die especially if you didn't give your child a private key to pass your bitcoin. But if you will give your child the responsibility to access your account then your child will inherit bitcoin and not be burried on your wallet forever. Your child may earn through this to help your family.

I don't think it's a good idea to just hand over the key. The better, in my opinion, is similar to a will and testament. It's as if you'll put it in a box with a lock and hide it or put it somewhere out of the way and tell your family or children about it, but only say that they'll open it when you die, with no further explanations, and make a note that it's really, really important. But this is just my opinion if I have a bitcoin, and we all know that we will die at some point, so we should be prepared.

Just tell them at least with the basics or you had put up some instructions on that will on how they would able to access it even though its a bit technical but make it at least simple as possible for them to understand.

If you dont like for them to be totally illiterate then it isnt bad to consider on telling them on earlier but of course its all about crypto
and how do wallets work and how to make it as a fiat.

Aside from Will suggestions there are still one which is that timelock thing which is mentioned on earlier page which i do see
this method to be somewhat ideal.