09-27-2021, 01:59 PM
Learn from my mistakes: store your keys physically and make sure you have multiple b
<!-- SC_OFF --><div class="md"><p>I really just need to vent right now. Couple months ago I started DCA'ing into ADA and had a decent bag of about 250ADA. Not really live changing money, but a decent ~ 10% of my portfolio. </p> <p>I stored the coins on Daedalus and was actively staking, passively earning more coins. </p> <p>Well, here's the fuckup. Instead of physically storing my keys for Daedalus on paper I used my old password manager app for the recovery seed and spending password (randomly generated password - all I remember is like 3/21 characters.)</p> <p>A couple days ago I checked my phone and for some reason the password manager app doesn't exist anymore. I still don't believe it but I must've accidentally deleted the app. </p> <p>Without the spending password, I can't send the ADA to a new wallet and without the recovery seed I can't restore it. </p> <p>No backups, emergency kit or any other way of retrieving and restoring the app. </p> <p>Now all I can do is watch my ADA slowly grow without ever being able to spend any of it. </p> <p>Oh well, guess I have to learn from this. </p> <p>TLDR; another sacrifice to the crypto gods. Store your keys/passwords physically and if you do want to store them digitally, make sure you have multiple backups!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/janpkrs97"> /u/janpkrs97 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pvx9jm/learn_from_my_mistakes_store_your_keys_physically/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pvx9jm/learn_from_my_mistakes_store_your_keys_physically/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I really just need to vent right now. Couple months ago I started DCA'ing into ADA and had a decent bag of about 250ADA. Not really live changing money, but a decent ~ 10% of my portfolio. </p> <p>I stored the coins on Daedalus and was actively staking, passively earning more coins. </p> <p>Well, here's the fuckup. Instead of physically storing my keys for Daedalus on paper I used my old password manager app for the recovery seed and spending password (randomly generated password - all I remember is like 3/21 characters.)</p> <p>A couple days ago I checked my phone and for some reason the password manager app doesn't exist anymore. I still don't believe it but I must've accidentally deleted the app. </p> <p>Without the spending password, I can't send the ADA to a new wallet and without the recovery seed I can't restore it. </p> <p>No backups, emergency kit or any other way of retrieving and restoring the app. </p> <p>Now all I can do is watch my ADA slowly grow without ever being able to spend any of it. </p> <p>Oh well, guess I have to learn from this. </p> <p>TLDR; another sacrifice to the crypto gods. Store your keys/passwords physically and if you do want to store them digitally, make sure you have multiple backups!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/janpkrs97"> /u/janpkrs97 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pvx9jm/learn_from_my_mistakes_store_your_keys_physically/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pvx9jm/learn_from_my_mistakes_store_your_keys_physically/">[comments]</a></span>Kind Regards R