What if someone lost his Bitcoin wallet?

[annayks 2314]

I don't have a hardware wallet but I am sure if you lose it or it gets destroyed you can still access the crypto you have using your private keys, or the recovery phrase.

 

Read more here and there is nothing lost if you lose your hardware wallet.

 

https://www.ledger.com/academy/crypto/what-is-a-recovery-phrase

 

Edited October 30, 2020 by annayks

[khan22 3478]

BTC wallets is the so much important for us and if anyone lost his wallet it is a big issue for that person becasue if we lost our wallet than we lost every thing and in the crypto market. Crypto market is so much secure and no one can hack that.

[noshot 154]

Mate the first thing I've learn in crypto is that what matters is the private key and you have to learn how to keep this safe. I've read from this forum and some very expert members that the crypto is not stored in the wallets and it is always in the blockchain and with a private key you access your crypto. I don't know if this was wrong but this is what I've read.

[Syedbesharat 5423]

On 12/22/2019 at 3:54 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?

Those who have lost their key or cannot access their BTC wallet are unfortunate people. But I think they don't  have to wait for longer as the cryptocurrency is progressing and development  is touching new heights. We can expect the solution where people can get back their accounts but the question is how will they proof they are the real owner's of wallet. 

[yuriblanco 27]

On 12/22/2019 at 5:54 AM, 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?

You can recover the Wallet if you have the secret words that you stored in a safe place, you just have to insert it in your replacement wallet. If everything goes according to plan, you will have your funds restored and your coins will appear seconds later

[Goyaa 2414]

Yes, if our wallet is lost, all the funds we have will be lost, you cannot recover it. Bitcoin is not controlled by any institution so you should really take care of the wallet you have. If you lose your private key, the bitcoins will be lost and burned.

[Jaafar Fahad Hassan 114]

13 minutes ago, Goyaa said:

Yes, if our wallet is lost, all the funds we have will be lost, you cannot recover it. Bitcoin is not controlled by any institution so you should really take care of the wallet you have. If you lose your private key, the bitcoins will be lost and burned.

Yeah that's true, we should secure our wallet very well, no crypto institution will be hold responsible if we misplace our wallet, nothing can be done if we are been careless in handling our wallet

[Russel 017 506]

You will get bitcoin wallet back if you have private key.If you loss your private key of your wallet there will be no chance to get your wallet back again.

Edited November 18, 2020 by Russel 017

[Binfahd 291]

26 minutes ago, Russel 017 said:

You will get bitcoin wallet back if you have private key.If you loss your private key of your wallet there will be no chance to get your wallet back again.

That's why it important we keep our private key in a very secure place, we should maintain it very well, because it is the only means we can use in retrieving our Bitcoin wallet if it loss or if we misplace it.

[setifien 1016]

I am not sure but I think there is a trick that allows you to recover the wallet by signing a message inside the platform where you opened your wallet in (online wallets) or by writting down the backup phrase, but it's adviced to keep your private key in a very safe place

[Alexbhatti 1492]

Hi mate, as I have some information about this that most of the wallets have a function of Two-Factor authentication security in their apps. Which help you to secure your wallet if you will have lost your device. It gives you Security code and backup pin that will help you to get back your wallet again into other device.

[Ryken8 545]

If you lose your bitcoin digital wallet, you can still retrieve it with the use of your personal secret keys unlike if you lose your physical wallet with fiat currencies it will be permanently lost to you unless it is found by a good hearted person that will return it to you. Just make sure you keep your digital wallet personal keys safe and don’t share it with others.

[minisrt_black 1112]

hope that technical support will be able to help as well as believe your evidence, and then give you access to your wallet

[Frodler 943]

Loosing a btc wallet without having the required recovery tools is as good as loosing it forever, I haven't really had of any situation whereby such wallets are successfully recovered unless al the required informations for recovery are all available. 

[Edwinvicky 819]

On 12/22/2019 at 11:54 AM, 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?

12 phrases and private key are the major thing required to get back forgotten password or wallet. Without these two, then your btc lost forever.

[hatambaba 1064]

If anyone loses his wallet, he can recover it with a private key, or if he uses software other than Bitcoin Core, it can recover the wallet with seeds. If he loses the private key and the seeds, then there is no way to recover, and then the coins will remain unspent in the blockchain forever.

[MalikAdnan 1662]

It is very risky and complicated. So, be careful and this is hard time for those peoples. So, keep save your private keys 12 words phases. It is very necessary of you lost your phrases then it is not recover so please be careful and keep save your wallet and also your keys.

[Gorge 510]

On 12/22/2019 at 3:54 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?

Dear friend first of all you have to save your wallet, password and private key but if you delete or lost your wallet you can recover by using private key. If you forget all of these then it will be very difficult for you. 

[Reyna 576]

If this will happen to me, i'm being disappointed to myself because this is the important thing that we can secured and also all of our bitcoins will not getting backed, to avoid this, we should used some trusted bitcoin wallet.

[Brushless4500KV 4214]

On 11/18/2020 at 3:03 PM, setifien said:

I am not sure but I think there is a trick that allows you to recover the wallet by signing a message inside the platform where you opened your wallet in (online wallets) or by writting down the backup phrase, but it's adviced to keep your private key in a very safe place

Signing messages is a process for authorizing transactions and it has nothing do to with wallet recovery. Private keys are used for spending your coins and you can't retrieve a lost wallet with the keys. The only way to recover wallets is to use a backup phrase. It is a phrase consists of some words that are written in a specific order. This phrase is given to anyone who opens up a new wallet for cryptocurrency. You should write it on a piece of paper and keep it in a safe place. If you lose it, you will never be able to access your coins.

[Izeal 4404]

There are some wallets like trust wallet where we have to complete that 12 words phrase and we have to copy them to the safe place and they will give certain security code which should be kept safe, in this type of wallet you will lose your wallet if you forget your security code and that 12 phrases.

But while using binance and coinbase it will work on email. So, if you still have that email connected to the wallet then you can simply recover them using forget password and they will sent link to change password in email.

[cryptoman22 1026]

If you lose your wallet and do not keep your private keys, consider losing your cryptocurrencies, hence the importance of having your own private keys and keeping them safe.
Lots of winnings and luck
A big greeting

[leakydonney 1402]

Normally  if your Bitcoin wallet is lost then you can use your recovery phrase in which your funds will be recovered into an entirely new wallet by reopening and restoring it into a different brand of wallet

Edited November 24, 2020 by leakydonney

[fanylu 505]

Good question for newbies like me to be guided to be very careful and keep the secret key in a safe place to make a backup copy to avoid losing your wallet forever.

[SvenIronheart 44]

As far as I know if we lost our account in exchanges or wallets, we will never be able to recover it. The remaining balance left in the account will stay but we can not access it anymore since we lost the account. To avoid this it's better that we always remember every detail everytime we register because it can be a way to recover our account through the platform's account recovery feature.