Ways of Losing Bitcoin Investments

Suppose that you don’t want your Bitcoins at all, irrecoverably and permanently. We do not wonder why. It might be a piece of art destroyed by a guy along with his all possessions or maybe you like the music band The KLF who is famous for spending his 1 million pounds on an isolated Scottish island.

Whatever motive you have, we do not judge it, where we are assisting people how to save their coins, it is also very easy helping them how to reverse engineer the security if you want to lose your coins quickly and easily.

If you have it and wish to lose it then brag about it. The same applies with Bitcoins, let the world know that you are a Bitcoin investor and you have plenty of assets that are worth stealing. Flaunt it on your social media profiles, brag about your Bitcoin mining skills to your family and friends, and especially to your new contacts. It is more likely that someone will be attracted to breach your security defenses for relieving you from your investments.

In its early days losing Bitcoin was very common due to notorious exchanges where you get your investments lost. It was just a matter of time before you lost your coins if you keep them in a hosted wallet, exchanges such as Mt. Gox which was hacked and lost its coins in fractional reserve banking, or the exchange owners disappeared with your wallet keys.

In the last few years, the exchange market has developed remarkably, with upgraded security steps like two-step verification and proof of custody and reserves. Don’t be disappointed, until your key is authorized to a third party, anything is likely to happen and most probably it will happen.

The exchanges are still got busted even with reassurances of regularities. Now governments of more countries are investigating the wealthy Bitcoin investors and not just governments like Canada, Russia, and China, who are instructing their financial service providing organizations including crypto for freezing any such accounts which are found donating even the smallest amount to trucker’s protests.

You even have the strongest password and two-step verification protection of your exchange account, there are still other weaknesses that could be exploited to access and drain your account. So your coins on an exchange are still unsafe, in any case.

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