Sentences with phrase «lose access to the private keys»

If you lose access to the private keys, you lose access to the Bitcoins.

Not exact matches

Giving your private key to somebody else means giving them access to your cryptocurrency — losing your private key means losing your cryptocurrency forever.

If your private key (s) or other access credentials are lost, you may lose access to your Tokens.

Before any User decides to purchase, hold and use digital tokens, the User should make certain that he fully understood all risks, including but not limited to risk of losing access to tokens due to loss of private key (s), risks associated with the ethereum platform protocol, risk of hacking and security weaknesses, risk of uninsured losses, risks associated with uncertain regulations and enforcement actions.

There have been stories about people who have lost their bitcoin private keys and have been unable to access their own money.

That private key can be moved between devices, so if you lose it, you lose access to your funds.

IF YOU LOSE ACCESS TO YOUR BITCOIN WALLET OR YOUR ENCRYPTED PRIVATE KEYS AND YOU HAVE NOT SEPARATELY STORED A BACKUP OF YOUR WALLET AND CORRESPONDING PASSWORD, YOU ACKNOWLEDGE AND AGREE THAT ANY BITCOIN YOU HAVE ASSOCIATED WITH THAT WALLET WILL BECOME INACCESSIBLE.

If your private key is lost they will not be able to help regain access to your funds on that account.

People will lose their private keys and lose access to their wallets forever, they'll send money to the wrong address that doesn't belong to anyone, governments and corporations will stockpile it instead of spending, etc..

You need your private keys to spend your bitcoins, so if someone gains access to your private keys, they can (and will) spend your bitcoins, and your bitcoins will be lost to you.

With this being said, it is important to remember that losing your private keys or allowing someone else to get access to them jeopardizes your money.

The statement in a tweet above from Musk alludes to his having lost the private key to the wallet which contains the BTC, meaning he can not access it even if he wanted to.

But keep in mind that if you lose your private key, you yourself won't be able to access your funds, either.

The recovery private key ensures that you never lose your funds in the case you not able to access your wallet, you can easily recover your coins if you have your wallet private keys.

They can only be accessed by public and private keys, and in order to retain their security features, if you lose the keys you will not be able to access them again.