Ever since bitcoin gained momentum, there has been a lot of movement in the cryptocurrency world. New cryptocurrencies have come, new investors have entered this market and new billionaires have made it to top wealth lists. The other side of this coin is the losses that many people faced in crypto wallets.
Crypto-wallets – issues at hand?
A major issue in the crypto-wallets is lost money. There are so many investors and traders who either forget their keys or get confused about their passwords. There are cases of people using different keyboards, storing passwords on clouds, and missing a single digit on long passwords.
To address this alarming issue, KeychainX’s CEO Robert Rhodin had an interesting podcast session. KeychainX is a very interesting organization in the blockchain technology space. It primarily works towards restoring lost crypto wallets. Basically, the people at KeychainX work on wallet recovery. They have algorithms, systems, and smart minds in retracing your investments.
Simple yet essential tips for your wallet:
He provided many tips to recover wallets and save money. He initially talks about the value of remembering passwords. There have to be smarter passwords but these passwords need to be noted. Only storing the password on your phone – might lead to a loss of the password in the future. You might want to store your password both on cloud and text files – depending on how much you trust the applications on your phone. There can be even a pen-paper approach towards this.
Secondly, you have to be sure of the people around you. Who is the person who knows about your password – even who are the people here for recovery of your wallet. It is necessary to be cautious.
So, the basic start is to go to the right people who have the right resources for recovering your wallet. You must keep your password-protected for easy processing.