Post by account_disabled on Mar 7, 2024 0:21:16 GMT -5
How can you prevent this in which you want to invest in advance. I already wrote an article about this in with practical tips . Better warm than cold The underlying technology of cryptocurrencies is developed around a decentralized idea. You are your own bank here. You can carry out transactions directly yourself without the need for an intermediary such as a bank credit card or service provider such as Paypal. And you have your own digital wallet where you store access to these digital coins.
In addition more and more people are storing this on a socalled ledger a Russia Mobile Number List of USB stick. The decentralized idea is great but unfortunately still too complex for most consumers. For example people lose the password and backup codes. And because everything is decentralized there is no central helpdesk that you can call. The name crypto already says enough about the cryptographic way of working. It is so secure that you will never be able to access your coins again if you lose the password and backup codes. Lost Bitcoins I have already spoken to a number of people who have lost their coins in this way. You can still see on the internet that they are in a digital wallet but you can no longer access them to sell them for example.
There are countless stories such as a man who bought Bitcoins for a few euros in the early days and put them on a ledger. But he can no longer access it because he no longer remembers the password. million gone. According to blockchain analysis company Chainalysis of the million Bitcoins alone . million have been lost and these are now impossible to trace. Although I am a big fan of the decentralized idea of the technology I do not see most people storing their cryptos in a digital wallet themselves. They leave them at the exchange where they bought the coins. There is always a helpdesk there that can give you access to your coins again if for example you have lost the password.