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Author Topic: Why there is no password recovery system for crypto related accounts ?  (Read 75 times)
manojnilanga
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July 13, 2018, 05:35:59 PM
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There are password recovery systems for almost all the accounts in the internet. But as I see there are no recovery system for crypto related accounts. Since we give email, when we creating the account, why we cannot recover our accounts by that given email address. Or why there is no other way to recover lost accounts?  Huh
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CRYPTOGANGSTERs
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July 13, 2018, 05:40:45 PM
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This is done specifically to reduce the number of hacked accounts through your mail. I support this, since those who want to save their money will not lose their access key.

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July 14, 2018, 04:43:36 PM
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Which service are you referring you? If by recovery, you mean being able to change your lost/forgotten website then you must be able to recover your account with one way or another (SMS, Google Authenticator etc.)

manojnilanga
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July 15, 2018, 01:05:11 PM
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Which service are you referring you? If by recovery, you mean being able to change your lost/forgotten website then you must be able to recover your account with one way or another (SMS, Google Authenticator etc.)

As an example, steemit account does not have a password recovery system although they have our email address.  Undecided
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July 15, 2018, 01:10:03 PM
 #5

This the whole point of decentralisation, so no-one is in charge of your holdings, you can't call the bank to reset your password, you hold you own and are responsible for your own. All you need to do is keep your private key safe and avoid getting scammed

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Nnedaddy1
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July 15, 2018, 01:20:55 PM
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There's no known password  recovery measures for cryptocurrency related wallets.
This is among the reason why cryptocurrency is yet to be accepted widely.
I lost my first blockchain account because of this issue.

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July 15, 2018, 01:50:30 PM
 #7

There are password recovery systems for almost all the accounts in the internet. But as I see there are no recovery system for crypto related accounts. Since we give email, when we creating the account, why we cannot recover our accounts by that given email address. Or why there is no other way to recover lost accounts?  Huh
I do not yet encounter password recovery in cryptocurrency related accounts since I secured all of my data in using exchanges and etc. Well, I think it is good if there is a recovery system in order for a trader to recover his account even he loss the password. For sure, there will become an update in every exchange about this matter.
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July 15, 2018, 02:02:52 PM
 #8

We need to be responsible on our wallet account as we all know that you can't recover it. This is a decentralize technology and no one can be talk for your recovery. Provide back-up on your private keys and password to make it sure you have a copy in case you lost the first one.

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July 15, 2018, 02:07:22 PM
 #9

While making any wallet ; the owner must keep it's password at at least two or three places.   If he loses at one place ; in that case he will be able to recover it from the other. One password should be kept with authenticator enabled system.  No one will be able to steal your password because in case one want to steal it he must have to use OTP received in authenticator.  And in absence of it he will not be able to do that.
Secondly you must keep one hard copy of password kept safe with you.
As precautionary step you may keep your coins in cold wallet

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July 15, 2018, 02:26:19 PM
 #10

Actually that is the main problem here in crypto world because there's no such tools for it incase of any causes ,wherein no one could help us out on that problem even we contact the dev or the team behind of the site it's useless IMO. So i i think much better to make a copies first before doing anything especially important accounts in any sites or private key and any recovery seeds that can help us to fix immediately our problems and to ensured as well our accounts is safe.  

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July 15, 2018, 07:53:44 PM
 #11

There are password recovery systems for almost all the accounts in the internet. But as I see there are no recovery system for crypto related accounts. Since we give email, when we creating the account, why we cannot recover our accounts by that given email address. Or why there is no other way to recover lost accounts?  Huh

Well I would consider this as both weakness and advantage of the cryptocurrency market and I personally think that this can be easily hacked if there were any kind of recovery options because the hacker is just waiting on the sidelines so that he can be hacked your account using the loopholes through the recovery options and I am sure people who really care about their savings will keep their wallet id's and private key in safe place.

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July 15, 2018, 08:00:25 PM
 #12

As an example, steemit account does not have a password recovery system although they have our email address.  Undecided
I don't use steemit and maybe it's only them.

If you will include bitcoin wallets and other crypto wallets as well, there's a way to recover them without the use of emails and that is through seeds or private key.

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