We now live in the digital age, computers are everywhere and in every thing. The next step is to have our money and value digitalized, hence bitcoin, the reigning leader in digital crypto currency
You already know bitcoin basics if your reading, so Ill skip the classroom lesson on bitcoin for beginners.
But with our digital money becoming increasingly valuable, we now have new responsibilities.
No longer do we have mother to hold our hand, or more importantly, people that we pay to take care of us.
What am I talking about?
Protecting your assets, Your money!
If you are involved in any crypto currency this saying is for you.
Don’t be careless!
Remember it… Live it… or Regret it
Don’t be careless!
Don’t be careless!
Don’t be careless!
In the world of digital Currencies, your new added responsibilities are protecting yourself from loss.
Nobody cares more about your money than you.
One of the most important things to owning crypto currencies is your
private key
If you loose this, you lost all your coins.
There is no way around, no back door, no account recovery…
Those crypto coins are gone!
Locked forever in the wallet you no longer have access to.
Its terrible, horrible, and makes your gut hurt. You search everywhere hoping your dumb ass wrote it down or saved a file somewhere forgotten.
But you didn’t… you know you didn’t back it up and your to lazy to write down so many digits… but you search anyway in vain.
This is one of those moments where you learn a valuable life lesson.
Don’t be careless with your crypto assets!
Write down and back up your Seed/Private Key!
It will save you much heart ache in the future, and most likely save you a ton a money on your car insurance.
It’s a common thing, many crypto users have lost coins. Ask anyone, there likely response is
- Scam
- Scam
- Lost Seed
Don’t join the rest of us by learning the hard way. The hard way costs a lot of money
Care about your crypto tokens!
I write this posting because of my recent carelessness and costly mistake. I lost a private key to an Eth account valued at nearly 3 Btc. ~4,500$
Now, I've lost many btc on scams, no joke, but this is a first.
In actuality I only paid 0.4btc when btc was less than $800, so most of the value is profit, but damn, that’s a lot of cash just hanging out!
Anyways, the Lesson has been learned… Hopefully I can save you, and others from the same fate.
When dealing with any Crypto coins
Back-up
Save
Write down
Protect
Your Private Keys!
Thank you for reading my posting on Steemit
Feel free to comment, resteem, or follow me
@generation.easy
A bitcoin fanatic and alt-coin enthusiast
3% discount code: ztyeLKCloud mine Btc, Ltc, Dash, Eth, Zcash, and Monero at https://www.genesis-mining.com/
Exellent post!
Thanks, I felt the need the spread awareness
And yet you will still get the, "Why did nobody warn us!"
Good stuff keep it up;D~
Be warned. Handling crypto currencies is not for the feint of heart
Thanks for commenting