What will happen to bitcoins in an online wallet with lost password?

[mobnepal]

For xapo and coinbase like wallets, you can request password reset to access your funds but if you are using blockchain.info like client side encrypted wallets than if you loss your password and haven't made proper backup of your wallet than those bitcoin will stay there forever. Because your passwords are not saved anywhere online (according to them) so even blockchain.info will not have access to your bitcoins.

[ivanst776]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

i think the amount of bitcoin will stay in that online wallet without any one can access and maybe for the owner of the online wallet can not access unless the owner have your id and your password so he can login into your account. but i don't know what exactly will happen because i am still need learn about this later.

The administrator of the wallet website can reset anytime the password to any email and access on your wallet but the TOS and laws will not allow this to happen, but at least they can freeze the account but the bitcoins can be spent but only digits will be stored as a reference.

For example, the administrator of the forum can reset the password or even lock the account for some reasons and you have nothing to do rather than respect the decision. Some wallet services do not have this option as they encrypt or have a harder system to get access to their client's funds.

[erikalui]

With xapo and coinbase, you can still recover your coins (with 2FA or by contacting their support) and even in case of exchange wallets but with blockchain wallet, if you've taken the backup or remember the backup phrase or private key, you can recover the wallet even if you've forgotten the password. However, many people haven't taken these precautions and saved the private key or backup phrase and hence have lost complete access to their wallet.

[Mometaskers]

I've only have one online wallet and since this one is strict enough to ask for government IDs I'm fairly positive they'd be able to give me back my bitcoins. All I'd need is to contact them and ask for instructions on how to claim it. They asked for a selfie on registration, maybe I'll just have to do that again or maybe a vidcall. It's a local exchange so if all else fails I can just go to their office. Quite frankly I haven't thought of this. Might be time to have a chat with one of their friendly support guys.

[jak3]

if its some usual online wallet then probably you can get the password reset by requesting them  but if its a wallet like blockchain and you do not have the password or private key then yes you are locked out for ever.. and your coin will be there forever no one can reach them

[royalfestus]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

if you forget the password maybe you can request a new password, all online wallet features Recover password

Where do u make the request? and are there occasions where u see someone got it back?. What of wallets that u may not have to use email address to register? what can be done with that?

[South Park]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

Those bitcoins will not be lost but will remain untouched. The site in their agreement with the users will clearly state that the bitcoin in the wallets will remain untouched by the company except if necessary. Those bitcoins though not lost will be considered lost since they will be left untouched until the site is still running. But this will be a warning to all of us to really keep the password safe so we wont regret anything.

While the chances are low, it is possible a hacker or group of hackers hack the site of the web wallet and get access to the lost coins, so there is the possibility the coins are not lost forever, although the owner will not see them again one way or another.

[shinratensei_]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

The bitcoin will go to the trash and the wallet provider can't do anything with that amount. But the email identification will prevent that thing to be happen in the future, the reset password feature.
But if he wasn't to do anything and his bitcoin will always on the cold storage.

[Vaskiy]

Updated codings in bitcoin saving online wallet provide the best security. Even if at some situation the password is lost, now you can retain the entire bitcoin within the wallet to a new bitcoin address. I believe one cannot use the bitcoin address of the wallet with lost password anymore.

[Sled]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

I think the bitcoins will be there forever because there but if the owner has a proof that he owns that bitcoins like he knows the email or maybe mobile number that included in that online web wallet account then he can easily get those bitcoins back. Now a days, Most of the online wallets requires mobile number so even you forgot your email you can use your mobile number as a back up and they will just send you some codes and then you can now reset the password of your account or recover your coins on it.

[ReLieD]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

You do not have to worry at all. You can always have your account back.
Either there should be an option for resetting your password by send a confirmation in your email
Or you can use the code which was provided to you when you had created a backup.
And like how can you loose your password. Did you forget or something.
Is yes then probably try to remember or just try the steps mentioned above

[calkob]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

I Think that it really depends on which online wallet you are using.  I have never really used them because i think they defeat the point of bitcoin in the 1st place, they make bitcoin use centralised.  But if they store your private keys and all you need is a password then i cant see why they couldn't authenticate who you are via some other means and thus allow you access to your wallet.

[TheAlgorithm]

On web wallets your Bitcoin is nearly always safe.  You can just contact their support and there will usually be a way to sort out the problem (although you might have to provide your identity, which could be a problem).

If you own the private keys and you're on a cold wallet or something, then that means your Bitcoin is lost forever, and in most cases won't be in circulation again.  That's okay though, because it's very unlikely to actually happen.

[nara1892]

depends on the company and the web wallet

some can't access your funds if you lose the password or id, but they have secret seed that would allow you to recover the wallet, and you may export the private keys, so you would not lose your funds

the answer depends on the service

agree. probably an online wallet provides a service to recover your wallet, but offline ones do not because you own the private keys. however, I ever read the policy of an online wallet that they cannot recover your wallet when you lose your identifier. so the key is identifier. if you still have it, I think you can get your coins back.

[dothebeats]

Password resets are now a thing, you know? It would ask at least one identifier for your account to check that you are indeed the same user who is trying to access the account that is locked. The coins will not be in limbo IF you know the secret phrase or whatnot that you used as an additional security feature on the account.

[jeraldskie11]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

When he using online wallet then he forgot the password, you really cannot open it. There is way to recover because online wallets have recovery options. You should remember what did you put in the registration form because your recovery is there.
You know, because it is a online wallet they can access your account if they want but they didn't know  if the owner of that account has losten his password.

[CoinFoxs]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

There is an option to renew your password but only when you give email id to that online wallet, by doing this you can easily get your bitcoins back as well as approach to your account, if you don't have this option then you should report the support center and they will guide you in a better way than us.

[bitcoin-shark]

if you loose the password and the wallet is from an internet company and you don t have private keys you can try all methods to resque the password like e-mail reset password link or phone verification if you fail all these methods forget your bitcoins

[bitbob82]

Suppose a person have some bitcoins in his online wallet and he forget the password (or lose access to that online wallet in any way) then what will happen to that bitcoins?Will that be there forever or as the wallet providers have access to them and they will get them if they find no any owner for years.

I Think that it really depends on which online wallet you are using.  I have never really used them because i think they defeat the point of bitcoin in the 1st place, they make bitcoin use centralised.  But if they store your private keys and all you need is a password then i cant see why they couldn't authenticate who you are via some other means and thus allow you access to your wallet.

yes different wallets have their own policies according to which they are giving security to their people. for example if you have lost your gmail password then it will become difficult to get access to your wallet.

[artows21]

If someone lost his password and didn't join a adresse email or his phone number to have access to his wallet, that person will simply lost forever his wallet. And nobody has access to this wallet that's why the all money will be locked in this wallet. However it's possible that a good hacker find a way to get through the password and then have access to it and to the money.