Losing Bitcoins is Not Uncommon It turns out that losing Bitcoins is not an uncommon circumstance. Many of the early adopters started mining or trading for Bitcoin back in 2009 and 2010 when the currency had little value. They did not look at Bitcoin as an investment, but rather a social experiment. One man, in May 2010, offered to pay 10,000 BTC to someone to deliver a pizza to him. In the early days of Bitcoin, there were no cloud wallets. Bitcoiners used client software that would generate or accept bitcoins and save them into a file on the computer.
Imagine the scenarios in which these bitcoins can be lost: file corruption, hard drive crashing, or just disposing an old computer. Still felt like winning the showcase on the Price is Right. I was cleaning up my important folder on one of my hard drives and came across the wallet. How to Recover Lost Bitcoins The first step in protecting your Bitcoin investment is proper backup. You can use a Bitcoin cloud wallet to store your money or just use regular file backup solutions. Finally, if you do have bitcoins stored on your computer and your hard drive gets corrupted, then here is a list of free software to help you recover what might be a small fortune.
Notify me of follow-up comments by email. Notify me of new posts by email. How To Recover Your Bitcoin Wallet Password This guide will also work for most crypto-currency wallet password recovery. CPU processors to efficiently recover a password. You can always try it yourself, and if you decide you need professional recovery, we can help.
Once upon a time, your bitcoin wallet wasn’t worth much but that once low valued wallet is now worth how much? A new life – free of monetary struggles? Having the required knowledge and understanding to complete the process described below. Your computer hardware may not be fast enough to decode your password in any reasonable amount of time. There are potentially infinite variations of passwords. Below, I am going to focus on bitcoin but the process should be the same for all crypto currency password, since they are all based on bitcoin. Anywhere I say bitcoin, substitute your desired coin!
Receive emails with new articles, site updates and new service annoucments! Your wallet is stored on your computer located in different locations based on your operating system – you can google it for more information. You should also be making backup copies of this wallet file, but you must use the latest copy. If you are using a copy of the wallet and you have updated your password after the latest copy, this will not work due to the wallet keys being changed. Hopefully, you know what the password should have been but maybe you are one character off or the capitalization is off. These common mistakes are the most likely reason that you are locked out of your wallet. If you have no idea of what the password is, the wallet would need to be “brute forced” cracked which is currently not an option for bitcoin wallets.
While this guide should get you going, you may come across problems along the way. Remember, google is your friend when trying to understand the problem and figuring out a solution. You should be up and going pretty quickly but depending on your assumed password, it can take days, weeks, months, years and so on to recover your password. The longer you can devote your PC to attempting the recovery, the quicker it will happen. How come I can’t use them?