Crypto Cleaning and Access Notes - Updates For My Crypto Bags

in #hive-1679223 years ago

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It's unpleasant to consider, but if something suddenly happened to you, would anyone know how to get to and move your crypto?

The crypto markets are a bit confusing and I'm mostly holding right now. So, I needed a little project to keep me busy so I decided to clean up all my bags, take an inventory and make sure someone could get into my crypto if anything were to happen to me.

I decided to review:

  • What I hold
  • Where I hold it
  • How to Access it.

I figured I'd make some notes for someone to follow.

Armed with several devices, a note pad, a flash drive and a spread sheet, I made a list of places where I keep funds, noted how to access them and for my original project, what I was holding and current values.

One thing that always drives me crazy on Bittrex is not being able to get rid of dust and tokens that no longer trade there, but still show up in my holdings. For example I still had BCH, XRP, POWER Ledger and 2 other misc tokens that no longer trade there. For each discontinued token I either sent them to an exchange that does still trade them or in some cases where I had small balances. BCH and XRP sent to CoinEx to be sold. While I wasn't able to get rid of all the dust, I did make progress

As I said, I also wanted to make some notes about what I hold and where

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While I didn't use this form, I did use a format something like it.

As I worked through the exchanges, meta mask wallets and Exodus I looked at each token I held and made a decision on keeping it or selling, transferring and making notes to give to my husband and daughter on how to access it if anything happened to me.

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No one likes to think about these things, but let's face it do you want your crypto to get passed on if something happens to you or do you want someone to know how to get to it?

If you make a list of keys, wallets, cryptos for someone in your family don't forget to add things like: How to find it, where is it, are any additional passwords required to get to it. And how can they liquidate it.

For Hive for instance I made some notes about Keychain, Powering down and a list of accounts, and also mentioned Hive Engine, for Leo and other related tokens. For EOS, Notes on Scatter and site where someone can easily move EOS around.

Since I am often with my husband if anything happened to us together I thought one of my adult children should have access as well, but I haven't really figured out how to do this yet. I made a note to follow up with where to store it.

My project started out as a review of my crypto holdings and turned into thinking how someone could get practical access to my holdings if needed.

At the end of the day, I cleaned up my bags a little and realized it would be a shitty task for someone to try to follow and find my crypto piles if something happened to me.

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Do you have a plan or tips for how you are handling your post life crypto plans? Not trying to be morbid, it's just a lot to consider.

@whatsup

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It's an important thing to do... I've been "in progress" with it since about September; one more detailed version for my wife with detailed instructions on how to turn it all into a monthly passive income stream; a less detailed version for our kids which is labeled for our middle son who's somewhat crypto savvy.

It's not like we are dealing with a huge fortune here, but laying the groundwork even so is a good thing... in a few years it might really be worth something, and I'm not getting any younger...

We aren't getting any younger either and we went through a lot of our asserts when Joe was diagnosed (he's still doing great) But mostly with stuff he handled more than me.

So, now that he's looking so healthy I figured I better sort out my side of our mess as well! :)

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If you have a close friend that is technical it would be worth looping them in to the process. Leave the details with your significant other but have this person as a go to person in case anything happens.

I need to sort myself out too. I have done a clean up recently too.

Really good point.

I have two USB sticks with the data, one at my parent's house and one with my wife, somewhere hidden. The trick is that they are encrypted, just in case, and know how to unlock them.

Most of the assets I try to write under my son's name, as he is 3 and with us as administrators.

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I haven't considered this but I should probably take the time to go over everything I have. I would rather have my funds go to my family if anything ever happened to me.

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Took care of this on Christmas. My kids have all my info and instructions on how to get to it.

Great. I also share information where my wallets keys are and how to access it...

Good for you! I'm working on it.

I'm taking mine to the grave with me if I don't spend it all first on frivolous sinful things.

I have another stash I share with my family that they know how to access and they will do fine financially anyway.

Maybe they can convince me to share more, but it's not really my problem.

Well it's good to see you!

And taking it with you is fine with me!

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My all keys shared with Sister & My Wife :D
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Cheers~

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It's something we don't like to think about but honestly it's most likely a large sum of money that if something happened I'd want my family to have access to it. Cryptos a bit of a mess but I have to say a hardware wallet does help at least to organize some. It's unfortunate that most hardware wallets only support a few of the same cryptos or layer 2 of a blockchain or two.

It also begs the question I wonder how many people had money in crypto and are now dead and no one can access those wallets. That's another interesting side of things.

That's the thing it's not like I have a huge amount, it's because I have a reasonable amount in Soooo many places.

I was actually thinking about this a few days ago. The only thing is the number of notes needed to explain everything... looks like it would be a nightmare.
I have delayed it for the moment but I will have to do it some time I guess.

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That is something that, we all should take note. Since all my holding is not big enough, I still has not tell anyone, including my wife (i have mention it, she still don't understand it).

But yes, I should start making instruction in how to get those things out when things are happen to me.

The value can go up and down so quickly that what isn't enough today could be tomorrow and vice versa.