bitcoin wallet and password security!

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There are rumors that a Romanian investor who owns more than 1 trillion won in bitcoin is going to evaporate after being swept away by a tide on the beach. Because he didn't tell anyone the password of his bitcoin wallet.

There is a story that there are about 3.7 million bitcoins that are in danger of evaporation because they do not know the wallet password. A cryptocurrency market analyst called Chainalysis estimated that this would only be the amount of bitcoins that were either tied to a digital wallet or lost because they could not find the lock password. Previously, Ripple's former CTO, Stephan Thomas, forgot the password for the hardware wallet and had already tried 8 times, and if you get the remaining 2 wrong, you may have heard before that you won't be able to find 7002 bitcoins.

While doing Hive, I have sometimes seen posts asking for help because I forgot the password of my Hive wallet, so it is not unusual. There may really be a way to find it, but as far as I know, it's almost impossible. Be sure to back up your wallet password in several places and keep it safe!

Thank You and Have a Great Day 😊🙏

Posted Using LeoFinance Beta



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4 comments
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Backing up the wallet password is a good measure to be able to secure our wallet and also recover our wallet whenever it is missing or stolen..


Posted via proofofbrain.io

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I always recomend - DO NOT rely on one single password
Plus, I recommend reading a series on metal backup wallets, here:
https://jlopp.github.io/metal-bitcoin-storage-reviews/


Posted via proofofbrain.io

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Nice Recommendation 👍, metal wallets looks promising and secure. This will bring more confidence and support for bitcoin. No matter how digitalisation advance but people will always prefer hard wallet, it's safe and secure. 😊🙏


Posted via proofofbrain.io

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