It’s a sad fact of the internet that people lose their data all the time. Losing your bitcoin password, or having an old version of your wallet is not uncommon. In this article, we will discuss lost bitcoin statistics and how to keep your coins safe with tips from experts in cryptocurrency security!
Experts from Chainalysis report that 20% of all mined Bitcoin is lost and unrecoverable. That’s about 3.75 million bitcoins which at todays value is worth $131 billion. Most of the lost bitcoin are the result of bitcoin owners who have forgotten their password, lost their seed, or have failed to properly backup their data.
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Many Bitcoin owners bought or mined Bitcoin a decade ago when it wasn’t worth much and they didn’t realize what it would be worth today. If they had only known how much it’s value would skyrocket they surely would’ve kept their Bitcoin passwords in a safe place and backed up their data. Now they are frustrated and spend countless hours trying to gain access to their lost Bitcoin.
There are a few things you can do to help prevent lost bitcoin
- Make sure you have a strong password and keep it safe.
- Use a reliable and secure bitcoin wallet.
- Regularly backup your data.
- Always write down your seed and keep it somewhere safe.
- Use hardware wallets like Trezor or Ledger.
If you follow these tips, you’re much less likely to lose your bitcoins! And if you do happen to lose your password, or wallet data it’s not the end of the world. If you need any assistance with lost bitcoin, don’t hesitate to contact our us by clicking here or calling us at 1-800-645-1893! We are happy to assist customers who have lost their passwords, seed phrases, and or data!
Bitcoin isn’t like other financial storage platforms where you can call a company to ask for your password. That is why many people love Bitcoin and other alt-coins. Satoshi Nakamoto created Bitcoin with a vision of letting user gain access to digital banking through a peer-to-peer system without any government regulation.
Lost bitcoin statistics are a part of the digital age and you should do everything you can to make sure that you don’t become part of the statistic. With careful attention, lost bitcoins can be minimized and everyone can safely store their coins in this new digital era.
Finally, you can use these tips to secure your coins and hopefully never lose them. Remember, if you’re storing your coins on an exchange that has access to private keys, the website could get hacked. If this happens then it’s possible for hackers to steal all of your bitcoin! So make sure not only are you following these tips but also keep in mind other ways hackers might be able to get hold of cryptocurrency information from exchanges like Mt Gox. This is why hardware wallets are so popular because they aren’t connected at all times to the internet. Therefore, this makes hacking them virtually impossible.
There are many public accounts of users who lost their Bitcoin fortune. You can read about that here.