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PostPosted: Wed Sep 20, 2017 9:17 am 
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Joined: Thu Aug 10, 2017 6:19 am
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What Happens When Bitcoins Are Lost?


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PostPosted: Wed Sep 20, 2017 9:21 am 
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Joined: Wed Sep 13, 2017 6:52 am
Posts: 6
If anyone looses cash, there is always a way to find it back or it goes back to circulation. If you forget the PIN of your account in a bank, it is easy to talk to your financial advisor and your PIN can be recovered for further transaction. However, this is impossible in case of bitcoins due to virtual security measure.

Users can access their Bitcoin wallet only by using their private keys which is too secure and no one has an access to it. In case, any user loses or forgets Bitcoins, it can be a stern problem in the system. Once lost, hardly anything can reverse the situation. Yes, nothing can be done to recover the same. It is even tougher to trace if they are stored on a drive like hard drive or flash drive. Generally these features help to keep your bitcoins secured and safe and prevent any kind of fraud or theft. But it really is a difficult if the access is lost.

There may be certain very common reasons of bitcoins lost which be checked regularly to avoid such a situation to occur. It may be lost when people mind them back since they are worth next to nothing and forget the information later. They may also be lost due to some technical difficulties. So, you must check on these little things while you are accessing the bitcoins.


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