What if you had a fortune you could never get your hands on?
What if the only thing standing between you and your millions was a forgotten password?
That’s a painful reality for some cryptocurrency owners.
They can’t access their digital wallets because they can’t remember their passwords. And because cryptocurrency is encrypted, these passwords can’t be reset. They also strictly limit how many times someone can try a password.1
If you try too many wrong passwords and hit the limit, you’ll be locked out of your account — forever.1
This nightmare situation isn’t a small problem.
Nearly 4 million bitcoins are in stranded or locked digital wallets. That’s about 1 in every 5 bitcoins … or roughly the equivalent of $140 billion.1
And it’s just one risk you could be taking with a cryptocurrency investment.
Click here to check out this issue of the Visual Insight Newsletter!
Cryptocurrency is still a really risky space, despite all of its thrilling promises of big gains. Even if you remember your digital wallet password, there are cyber criminals coming up with new, sophisticated scams every day.
If you don’t know how cryptocurrency works, you could be their next mark. And you could see your digital assets disappear before you know it.
Want to read more about the risks of cryptocurrency and when it may be a good investment?
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P.S. What’s your biggest question about cryptocurrency? Hit “reply” and let me know.
Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.
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