Have You Ever Lost Bitcoin? What Caused It and What Advice Do You Have?

[Queen uloma]

‎Omg losing Bitcoin na very bad experience, the worst part of it be say many people for crypto space don face Dis thing from one point to another,
‎To loss Bitcoin fit happen in different ways, e fit be through hacking, small mistakes, scams, lack of knowledge, majority of us they lost our Bitcoin because of phishing scams,
‎Were them no know how come them share their private keys or there seed phrase for fake website or wrong people way dey pretend say them be support agents, other people dey lost money because of how them send Bitcoin to wrong wallet address, them go come forget say Bitcoin transactions them no dey reverse am, E get some situation way people go store their Bitcoin for exchange way them later hacked or shutdown, e come make people to get access to collect their money, Another common cause nah poor wallet backup, many people dey fail to save their recovery phrase, so wen them come thief their phone or computer there  Bitcoin don go  forever,
‎My advice is that:
‎1. No share ur private keys or ur seed phrase with anybody for safety purpose.
‎2. Before you send Bitcoin check very well if the wallet is correct before you send am.
‎3. I go advise you to use hardware wallet or any trusted wallets for long term storage.
‎4. Dey always back up ur recovery phrase and protect am.
‎5. Any investment way dey suspicious run for your life no matter what dey promise you.
‎6. Never forget to read about how Bitcoin transaction works on a daily basis, before you go make any transaction.

[Hatchy]

Losses in BTC or cryptocurrency in general is mostly a very painful experience. This may be due to careless or lack of knowledge. Staying on the forum, I've read many stories on how people lose their coins. Some are not deliberately, while some are through hacks or phishing links. I haven't experienced losing my coins to any of these means, but I have seen people close to me that it happened to. It's not that I'm too good or have excess knowledge, but because I take precautionary measures to ensure that my funds are kept safe and away from the reach of scammers or hackers. And before I Carry out any crypto transactions I see to it that all details are correct so I don't make mistakes..

[Joy- maker]

Losing bitcoin can be very devastating, especially when you have accumulated a good portion of it, and maybe hold it for almost one cycle, and you later end losing them due malware attack or phishing scam. Or due to lost of files for those who use hot wallets, or they probably forgot their passwords. The early bitcoin users were  the people who lost millions in bitcoin, because majority of them took risks to learn, and they also made mistakes, and Sheard what they learned with us. so because of that, the new bitcoin users we have today hardly make mistakes, nor fall for scams due to the knowledge they have gotten from the early bitcoin users.

[BitBakerr1]

Losing your bitcoin is a very big loss and pain. I have not experienced this before, but recently one of my friend was sending bitcoin to someone and he mistakenly sent it to the wrong address and that was how he lost his bitcoin it was very painful to him because the person he was sending the bitcoin was someone he was owing and he wanted to use the bitcoin to repair the debt but he ended up sending it to the wrong address, the day he was telling me this he was very sober and sad, and I was consoling him because the bitcoin was a good amount of bitcoin, I saw through him how painful it is to lose one’s bitcoin.
Thank you for this thread it will help people become more careful. And for those that are always clicking on any sites they see, especially when it contains financial growth should be very careful because a lot of those things are fake.

[Jubilee58]

‎Omg losing Bitcoin na very bad experience, the worst part of it be say many people for crypto space don face Dis thing from one point to another,
‎To loss Bitcoin fit happen in different ways, e fit be through hacking, small mistakes, scams, lack of knowledge, majority of us they lost our Bitcoin because of phishing scams,
‎Were them no know how come them share their private keys or there seed phrase for fake website or wrong people way dey pretend say them be support agents, other people dey lost money because of how them send Bitcoin to wrong wallet address, them go come forget say Bitcoin transactions them no dey reverse am, E get some situation way people go store their Bitcoin for exchange way them later hacked or shutdown, e come make people to get access to collect their money, Another common cause nah poor wallet backup, many people dey fail to save their recovery phrase, so wen them come thief their phone or computer there  Bitcoin don go  forever,
‎My advice is that:
‎1. No share ur private keys or ur seed phrase with anybody for safety purpose.
‎2. Before you send Bitcoin check very well if the wallet is correct before you send am.
‎3. I go advise you to use hardware wallet or any trusted wallets for long term storage.
‎4. Dey always back up ur recovery phrase and protect am.
‎5. Any investment way dey suspicious run for your life no matter what dey promise you.
‎6. Never forget to read about how Bitcoin transaction works on a daily basis, before you go make any transaction.

I have lost Bitcoin twice and of a truth the experience was very saden and then I was a Novis in Bitcoin investment.

The first time I lost my bitcoin was when I invested in bitcoin using luno exchange, then I funded my luno account using my Uba bank and then luno was using Uba bank to fund their naira account. So after some time , Nigeria government gave a law prohibiting cryptocurrency exchanges to disengage every bank associated with their exchanges , so I could not withdraw my fund through Uba bank and as a Novis , I opened binance account , now instead of me to copy and paste bitcoin wallet address from binance to luno, I had to use a pen and copied the bitcoin address on a piece of paper, when I typed the bitcoin wallet address on the luno platform and sent , I ended up sending my bitcoin to a wrong address and did not receive the bitcoin in my binance account.

The second time I lost Bitcoin, was when I invested in a ponzi scheme using Bitcoin, after the maturity of the investment and it was time for me to withdraw my invested Bitcoin and my profit, the platform declined the withdrawal and eventually I lost access to that website.

These experiences are sadden and they happened because my knowledge about bitcoin investing was not wide.
Belonging to this bitcointalk and Naija forum is a great opportunity for me and has taught me great things about bitcoin investing, and I know my past mistakes will never repeat itself.

All dis na di wey me i carry loose bitcoin and I believe sey newbies go learn from dis mistake wey me i don make.

[Doan9269]

It has never occurred to me in that manner that i have to do a silly mistake and lose my asset, though there are instances of delayed transactions, which took days and i thought its all gone, before realizing the cause was low fee, but i have these few advice for some of us that may be new in the system.

1. Avoid dropping any of your private information or device to a third party reach.
2. Avoid any link that could place you under clipboard malicious attack.
3. Ensure that you don't omit or add to the intended bitcoin address you're sending to.
4. Don't make a transaction to a wrong network, all these could be the way to lose bitcoin.
5. Don't copy address from your transaction history, instead copy directly form your wallet, address poisoning occurs in this manner.