How to Keep your Passwords Safe

Passwords… we have so many to remember these days!  Passwords and pins to log onto our computer, phone, bank accounts and most recently, cryptocurrency wallets which are getting a lot of attention as the market cap value increases.  Low and behold if you lose one of these passwords.  There have been some horror stories lately where people who bought Bitcoin years ago when it hardly cost anything, now realize they could be a whole lot richer if they could at least remember their password!

 

 

“I’ve tried to ignore the news about Bitcoin completely,” joked Alexander Halavais, a professor of social technology at Arizona State University, who said he bought $70 of Bitcoin about seven years ago as a demonstration for a graduate class he was teaching at the time but has since forgotten his password. “I really don’t want to know what it’s worth now,” reported by FutureTense

 

 

 

 

Download Password Vault here

Windows Wallet with Encrypted Password Vault 

Mac Wallet with Encrypted Password Vault

 

 

 

Passwords are used to access or unlock your Bitcoin wallet address.  Should you forget your password, the coins in that particular wallet are inaccessible. There’s no central point of control to help retrieve your Bitcoin or change your password – many websites offering online wallets clearly state that it is vital to store your password in a safe place.  This is a very clear warning from Steemit.

 

 

 

 

 

 

Download Password Vault here

Windows Wallet with Encrypted Password Vault 

Mac Wallet with Encrypted Password Vault

 

 

 

Not only is cryptocurrency lost in this way, if someone dies, passwords could die with them too which means more cryptocurrency lost to their beneficiaries as well as the network.  Just to clarify, the Bitcoin is not actually “lost”,  it will be visible on the blockchain, just not accessible to the rightful owner.

 

How much Bitcoin have been lost due to forgotten passwords, accidental loss of Bitcoin wallets, and death of the owners? It is estimated that 30%-50% due to the reasons listed by Fortune Magazine below- The info-graphic was published when 1 Bitcoin value was $7,859… current price is $13,200 however, in December 2017 almost reached an all-time high of $20,000.

 

 

 

It is VITAL to leave your passwords in a place that is safe but retrievable should the need arise.  

Recently launched is a FREE, open source, EOT desktop wallet, and Password Vault compatible with Windows and Mac.   You are able to save all your passwords in this vault – download from GitHub.com by clicking on the links below.    

Windows Wallet with Encrypted Password Vault

Mac Wallet with Encrypted Password Vault

 

 

I forgot my pin – an Epic Tale

 

 

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