Out of curiosity if I die how would someone get funds out I know back up ur keys but what else
You habe to make sure that your loved ones get the private key or at least your mobile pin so they can access your wallet.
In the near future it might gets easier via smart contracts etc.
Now i think the only options to do so are:
- Leave a copy of your private keys to your loved ones;
- Use a Multisignature Wallet , where you can split your keys in more parts and you own only a part of that, so in case you die the other pieces of key are able to open your wallet
Something like Gnosis Safe Multisig.
- Keep a backup of your wallet in another phone and leave it to your loved ones(offcourse they need pin and android password). Anyway this is more risk because if something happens to your backup phone there is no way to recover your funds anymore.
- Keep the keys in a bank safe , so if you die the content of the safe will be given to your relatives. (if the bank go bankruptcy, you are f…kd)
The same is using an exchange for that, but i think is even worst because exchanges get hacked often.
Create a living trust with all the particulars as to what you wish done with your estate in case of your death…a document that will be just about bulletproof to any contestation of it and once again where all relevant information will be clearly stated and who can view and have access to it…
Safe Haven project is for this (Digital Inheritance). It is on VeChain.
That sounds cool…will have to take a peek at that… …damn that is fancy sight…lol
How does it work? Also like @Katoshicoins with the Multi Signature wallet idea might have to check it out
Frack it…I decided I am going to take it with me…the hell with my descendants they can go stake their own fortunes…hehehehe… …only kidding…but I wish I could take it with me…a lil heavenly coin…
In fact, I dunno exactly I just know that it is for digital inheritance. As I remember, some legal process is also involved in the project.
Someone is already developing it. HERE