What if someone lost his Bitcoin wallet?

[Sohel Rana Sazzad 453]

If a person loses his Bitcoin wallet, I think he will never get it back.Because losing a bitcoin wallet in the online world is never refundable.

[DavCrypto 298]

On 12/22/2019 at 12:54 PM, SuperCrypto said:

A question arises in my mind that if a person lost his Bitcoin wallet, he would not be able to return it again, so how much Bitcoin was lost for this reason, and it cannot be used again. Given that this currency lacks any tangible physical presence, unlike other monetary currencies that are controlled by banking banking institutions, bitcoin is not controlled by specific persons or entities other than its users.
If lost, it can never be recovered, as if it had been burned, right?

Your bitcoin wallet must be preserved because if it is lost in a hacking way or you forget to keep your keywords, you will forever lose them and you will not be able to retrieve them.

[ShakilA 373]

If someone lost his wallet then he also lost his crypto.He can not get back his cryptocurrency anymore.So always keep safe his wallet

[mskhatri24 299]

Yes if some one lost his bitcoin wallet then he will definitely lost his bitcoin, it is same as you lost your real wallet and the cards or money inside that wallet will also be lost. For not losing your wallet, you should have to write seed phrase or password in secure place and never store it online.

[Upright 2688]

That's why its advisable on having bitcoin of wallets which support private keys and having to know them, so that in case of missing wallets, you can recover it

[Qasem111 1]

For this reason, you must leave the key and password in a safe place and your wallet securely well. Aside from this method, there is no money in the wallet. Pay attention to it.

[Rickso 768]

the funds are not in your wallet but are in the blockchain. the only thing you need is the seed that is given to you at creation.

 

anything can happen to wallets, to your pc, etc. .. but as long as you have that seed, your funds will always be available

[Slavi 11287]

yes, if you lose your keys, you won’t be able to restore them. I once encountered such a problem when I was just studying cryptocurrency, accidentally deleted a file where there was a copy of private keys. so it’s worth it to be very responsible to store your keys, and keep them in at least two places

[Oxygen 1004]

It will be a very hard time for him, I haev lost my wallet keys in which i have only 0.05 Ethereum, and i regret for that little amount but if some one have lost his 0.05 bitcoins or 0.5 or even 5 bitcoins by losing his private keys or wallet, then it will be a great disater for him. So it is very compulsory to store your wallet keys at  a safe place.

[Apple 202]

It is not clear what is missing? Have you lost your private key or wallet.dat file? If you lose your private key, say goodbye. 

[Cammer 4609]

Happened to me with MultiBit wallet, never seen my 0.06 Bitcoin again.

But I don't know if you can recover your money if you lose your wallet now.

[Ryan Cooper 6]

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[sazzad925379 128]

I think if a person loses his Bitcoin wallet, he will never be able to get it back.Because the Bitcoin wallet lost in the online world is never returned.

[Epic 289]

Yes, its the same when you lost your physical wallet then all the money in your physical wallet is lost. So account security and keeping a hard copy of your online wallet information is very important. Make sure that you secure your online wallet with a good password and using 2fa authenticator to ensure maximum security for your wallet. Also make sure you have a separate device that you use to check your wallet and emails and for browsing to minimize chances of being hacked.

[Aereen 456]

Yes, I think once you forget or cannot access you bitcoin wallet then you are not going to be able to get your money unless you do desperate measures to retrieve your account.

[Sohel Rana 406]

On 12/22/2019 at 4:54 PM, SuperCrypto said:

A question arises in my mind that if a person lost his Bitcoin wallet, he would not be able to return it again, so how much Bitcoin was lost for this reason, and it cannot be used again. Given that this currency lacks any tangible physical presence, unlike other monetary currencies that are controlled by banking banking institutions, bitcoin is not controlled by specific persons or entities other than its users.
If lost, it can never be recovered, as if it had been burned, right?

We know bitcoin network are decentralised if someone sent any bitcoin to wrong address they can't back his bitcoin. 

In 2009 to 2012 when bitcoin price was very low that time many people store bitcoin and many people forget his private key.that's why many people lost many bitcoin.                   

[Ahmedabdallah12 169]

Private key is more important we all should write it down , if we lost it we would lost our cryptos

[guatazoo 7150]

27 minutes ago, Hasan56 said:

If you just want to indicate the password for that account, by opening your Bitcoin wallet and connecting it to your email, you can easily recover it.

There are circumstances in which you have lost access to your email account, especially outlook mail, are easy to lose access.

[SuperCrypto 7193]

18 hours ago, DavCrypto said:

Your bitcoin wallet must be preserved because if it is lost in a hacking way or you forget to keep your keywords, you will forever lose them and you will not be able to retrieve them.

Therefore, everyone should be responsible for the safety of his portfolio. You should make a backup copy of your portfolio periodically to ensure that all new and changed bitcoin addresses and newly created bitcoin addresses are all included in your backup copy.

[DavCrypto 298]

2 hours ago, SuperCrypto said:

Therefore, everyone should be responsible for the safety of his portfolio. You should make a backup copy of your portfolio periodically to ensure that all new and changed bitcoin addresses and newly created bitcoin addresses are all included in your backup copy.

Collapse at more than one point is very bad for safety. If your backup is not dependent on a single location, it is unlikely that any wrong event may prevent you from recovering your wallet. You may also want to consider using different means such as USB memory, paper, or CD.

[fatima123 320]

If you lost your private key of your wallet or password then password can be recovered from any exchange but if you private key lost then may you not find your wallet access. 

[Crypto Rifat 240]

When you create a bitcoin wallet you have to careful to backup your wallet. if you lost your backup password or key then no one can help you even support team. so keep backup after create any crypto wallet.

[SuperCrypto 7193]

22 hours ago, DavCrypto said:

Collapse at more than one point is very bad for safety. If your backup is not dependent on a single location, it is unlikely that any wrong event may prevent you from recovering your wallet. You may also want to consider using different means such as USB memory, paper, or CD.

Encrypting your wallet or smartphone allows you to set a password for anyone trying to withdraw any money. This helps protect against thieves, however it is not possible to protect against software and hardware recording of keys.

[DavCrypto 298]

 

1 hour ago, SuperCrypto said:

Encrypting your wallet or smartphone allows you to set a password for anyone trying to withdraw any money. This helps protect against thieves, however it is not possible to protect against software and hardware recording of keys.

You should make a backup copy of your portfolio periodically to ensure that all new and changed bitcoin addresses and newly created bitcoin addresses are all included in your backup copy.

[SuperCrypto 7193]

21 hours ago, DavCrypto said:

 

You should make a backup copy of your portfolio periodically to ensure that all new and changed bitcoin addresses and newly created bitcoin addresses are all included in your backup copy.

If you store in a safe place, a backup copy of your wallet can protect you from computer interruptions and many human errors. It can also help you recover your wallet.