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How to Successfully Recover Lost Bitcoins
In this day and age, losing bitcoins has become a problem that each investor has to deal with at some point or the other. This could be because of their own negligence or simply because of a computer error. Another issue is that people with malicious intentions could try to steal your bitcoins from your wallet, and they might even be successful if they’re good enough.
Luckily for you, a programmer recently announced a tool that can help users recover lost bitcoins, all with the help of partial key data.
If you are into cryptocurrency, you must be well aware of how painfully frustrating it is when the wallet data is spoilt or corrupted. However, this program makes everything so simple that it is no longer overwhelming to deal with lost bitcoins.
The Famous Tool for Recovering Bitcoins
This famous tool is called FinderOuter. Even though previous programs have been formed to recover lost key data, this new program makes the process extremely stress-free. The FinderOuter is made with a fuss-free interface that allows an individual to enter some of the information for Base-58 or Base-16 private keys. This process helps to recover the lost key data.
You can download the open-source tool from Github. The inventor plans on throwing in some additional features, like having the individual put in partially known data in order to recover complete BIP-based seed phrases and important passcodes.
Not surprisingly, there are millions of users who are already part of this software. This is mainly because numerous individuals fall prey to lost bitcoins. In fact, research shows that 25 percent of all bitcoins cannot be accessed.
Other Methods that Can be Used to Recover Lost Bitcoins
If you do not have a partial amount of data, you cannot possibly get back missing private keys. However, not every particular scenario is as unfortunate, even if you have lost some bitcoins. Think about it- sometimes you may lose funds because the computer crashed at the wrong time. However, there are many tools you will find that will restore information from both your hardware and software.
Moreover, the files you think are corrupted are actually those that can be recovered easily. Sometimes, data is read as lost by some hardware and operating systems. This also applies to files that were deleted. However, keep in mind that there have been several tools over the past few years that have been formed to recover data that is lost.
Storing Bitcoin Properly
When investing in a cryptocurrency, you should always research strategies that will keep your funds safe in the long run. Of course, if you successfully want to recover bitcoins, you should not lose them. Unfortunately, cryptocurrency is mishandled, so it is no surprise that many people lose bitcoins.
Cold storage with the help of hardware wallets is considered to be the most reliable when it comes to protecting bitcoins. However, it is still important to keep a backup recovery option in case things go wrong. Hence, always keep your data in a secured location that only you have access to. Remember never to store cryptocurrencies on exchanges. Moreover, wallet data should not be stored on a device if you do not have sufficient backup.
Recovery information is extremely important- in the past, many owners have lost huge sums of cryptocurrencies only because they did not provide any of the important recovery data that is recommended. Hence, when making a long-term investment plan where you expect to gain revenue, making sure to keep all these factors in mind. It is always better to be safe than sorry. Consult BitIQ professional team if you feel unsure or doubtful at any point in your investment journey.
This article does not necessarily reflect the opinions of the editors or the management of EconoTimes