So imagine, the cryptocurrency market reaches a new all-time high in 2020 or 2021. Bitcoin breaks the previous record it set in 2017 and surpasses $20,000 for one bitcoin. You decide to let your investment ride because you think the market can go even higher. Many so-called experts have predicted this and you believe them. You keep your investment where it is.
Then you get into a car accident and you end up in a coma. Your spouse finds your ledger wallet where you store your cryptocurrencies and thinks its just another thumb drive and she tosses it. She has more concerns to worry about. Your cryptocurrency investment is gone.
A year later, you wake up from your coma and finally remember your cryptocurrency. You see Bitcoin has reached $40,000. You finally go home and look for your thumb drive.
You ask your spouse, “Where is my ledger wallet?”
Your spouse is confused and says, “Your what?”
“My ledger wallet that I had in my sock drawer. It looks like a little thumb drive,” you say.
“Oh. That thumb drive! I threw it away when I was trying to get some clothes for you. I had other things on my mind and really didn’t think you needed that stupid thumb drive.” You can’t believe what you just heard.
This most likely won’t happen but sometimes you have to think, what is the worst thing that could happen with your cryptocurrencies?
Too many people have seen their Bitcoin investment lost forever.