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Top 5 Ways How to Lose a Key to Your Wallet

Published 2 years ago by Vladimir Tikhomirov

Top 5 Ways How to Lose a Key to Your Wallet

MyWill via

Join the telegram group for more information: to the growth of a bitcoin, the issue of safety of wallets is gaining popularity. As you know, you can’t extract the crypto-currency from a wallet without a password because a 256-bit private key is almost impossible to crack.

For example, Adam Leonard, who is a CEO of the BlockEx stock exchange, stored a number and password from a wallet with 6000 BTC on Hushmail (a secure email service). You can protect yourself from the unreliability of storing keys on digital media and services in an old-fashioned way — to write a password on paper.

And if none of his surroundings has access to the password, these savings will be unavailable forever and will turn into “dead bitcoins”. First of all, such situations occur due to the fact that they do not know about a reliable way to protect their wallets.

At the moment, the best known for protecting crypto-currency savings in case of loss of the access to the wallet — MyWish.MyWish application was created by Russian developers using Ethereum smart contracts. Thanks to these contracts, it is possible to provide the transfer of savings to other user wallets of relatives’ ones in case of the unforeseen events.

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