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What happens if your crypto is stolen?


Carson
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There is a lot I don't know about Cryptocurrency, but I would like to know one thing. What happens if your cryptocurrency is somehow stolen? Is there any recourse for someone to get their currency back? Or are they out of luck with most cryptocurrency services? 

This is just mostly my curiosity getting the best of me. If I invest, I would like to know if it's safe from theft. Is it? 

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If your cryptocurrency gets stolen you are out of luck. It is part of being in the wild west. There is no one around to protect you incase bad things happen. 

Keep a majority of your Coins in cold storage using a device like Trezor (I love mine). 

 

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There is no way to get it back because it is not easily traced. This is why it is important to make sure you have a VERY secure wallet. I feel like it is harder to lose it than you'd think (at least in 2021) but assuming you follow the basic guidelines by experts, you shouldn't have to worry. 

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I always wondered this myself. I heard of people telling stories from the early days of bitcoin and them losing their investments because their computers they had the coins stored on broke or were lost somehow. That has to be such a shame considering how much the cost shot up! A $100 investment in 2010 would make you a millionaire today. I think it would be over 10 million. 

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