Can stomping on a physical wallet cause the loss of digital currency stored in it?

3 answers

• May 01, 2022 · 3 years ago
  Absolutely! While digital currency is stored on the blockchain and not physically in the wallet, the wallet itself holds the private keys necessary to access and transfer the digital currency. If you stomp on a physical wallet and damage it beyond repair, you may lose access to your digital currency forever. It's important to handle physical wallets with care and consider using additional security measures like backups and encryption to protect your digital assets.
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• May 01, 2022 · 3 years ago
  Well, technically, stomping on a physical wallet won't directly cause the loss of digital currency. The digital currency is stored on the blockchain, not in the physical wallet. However, if you damage the physical wallet to the point where you can no longer access the private keys, then you won't be able to access your digital currency. So, while stomping on a physical wallet won't directly cause the loss, it can indirectly lead to it if you're not careful.
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• May 01, 2022 · 3 years ago
  As an expert from BYDFi, I can assure you that stomping on a physical wallet can indeed result in the loss of digital currency. The physical wallet holds the private keys necessary to access the digital currency, and if it gets damaged or destroyed, you may permanently lose access to your digital assets. It's crucial to handle physical wallets with care and consider using a secure backup solution to protect your digital currency from such accidents.
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