Chapter 4
Keeping Your Bitcoin Safe
IN THIS CHAPTER
Understanding two ways you can lose control of your Bitcoin
Making a choice: custodial or private wallets
Finding out the password rules
Protecting your computer
Avoiding phishing attacks
Passing Bitcoin on to your heirs
You’ve probably heard stories of people “losing” their Bitcoin; thousands of people have done so. In fact, in 2017 researchers estimated that somewhere between 2.8 million and 3.8 million Bitcoin had been lost for good…perhaps more than 150 billion dollars’ worth at current value. But many millions of dollars’ worth have also been stolen from owners.
This chapter helps you to understand how these losses can happen and what to do so they don’t happen to you!
Understanding How You Can Lose Control of Your Bitcoin
Bitcoin actually can’t be literally “lost.” In Chapter 1 of this minibook, we explain that there really ...
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