When You Lose Your Bitcoin Password

Pros and Cons of Paper

The general advice from experts is to write down your Bitcoin private keys passphrase on paper as well, so nobody can hack it. It’s supposed to be more secure than anything else, at least in the world of technology. But losing the paper (or having it catch fire, be put through the wash, or any other number of destructive outcomes) is the glaring drawback to this scenario.

The Peter Parker Principle

But with great power comes great responsibility, for you as well as Spider-Man, and we want to stress the importance of storing your private keys safely and securely. Any piece of paper like this should be kept in a fire-resistant safe or lock box.

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Coin Cloud

Coin Cloud

The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.