Lost key

[Symarip]

Signed up for the key double encryption protection at myblockchainwallet and lost the private key. I can get to my wallet, but can't send anyone money. Thing is stuck on watch only. I'm I screwed or what?

[1714818091]

1714818091

[1714818091]

1714818091

[1714818091]

1714818091

[1714818091]

1714818091

[Symarip]

It's says it 'watch only' and that there is no private key associated with this bitcoin address.     

[Remember remember the 5th of November]

Once you lose a private key, you lose access to your coins forever.

[Symarip]

No worries, really wasn't a lot of money, but was wondering what in the world is this 'watching only' business and how did I manage to end up there without a private key by trying to trying to use the set up the double encryption protection? 

[tom1]

What is Watch Only address?

Bitcoin Addresses come in two parts, a public part and a private part. The public part allows you to view the transactions and balance of a bitcoin address only. The private part is the important bit to prove that you are the owner of a Bitcoin address and is needed to be able to send funds from that address. If there is an address in your My Wallet account which is missing its private key, it will be marked "Watch Only" which means unless you have the private key saved up elsewhere you do not own the funds at that address and can only "Watch" them.