Many bitcoin inverters face a similar issue of losing their wallet password because of which they lose access to their Bitcoin wallet. Let me be clear you cannot change your Bitcoin wallet password, but you can recover your lost wallet.
The main information which you will need to recover your old wallet is:
- Your wallet’s main key
- Your wallet’s backup key
- Your reference key
This is it if you have the above-mentioned information you can easily recover your password.
Follow These Steps To Recover Bitcoin Wallet
Mentioned below are the steps by which you can easily recover your Bitcoin wallet:
- First, you must install the latest version of the BitGo recovery application.
- As soon as you open the BitGo application look for “Non-BitGo Recoveries”.
- Once more you will see the same “Non-BitGo Recoveries” option click on it.
- Now you have to select your wallet type in the next step.
In this case, you are selecting a Bitcoin wallet because we are talking about bitcoin wallet recovery.
- In the environment, the section goes for the Main net.
- After that, you will be asked to fill up your paper backup which means your Main key and Backup key i.e. 2*12 word speed phrases.
- If you will get an error message just ignore it.
- Now in the reference key box mention your Reference Key.
- After completing the information mention the address on which you wish to recover your Bitcoin wallet.
- Leave all the other information fields blank.
- Click on the Recover Fund Button at the bottom.
The process may take a while you are requested to be patient.
- When the process is successfully completed a JSON file will appear.
- You have to open the JSON file and search for TransactionHex. Do copy it.
- You will be provided with a transaction ID to track your transaction.
- Once you have recovered your old wallet successfully you can delete the other wallet which you are currently using.
- Now create your new wallet and send the funds to the new wallet.
Where Can You Find The Above-Mentioned Information?
The main key and the backup key of your wallet are generated while creating your wallet. You must have written it down while creating your wallet.
And the reference key can be easily found in the wallet section of your bitcoin account. Click on the three dots on the top right corner of your screen to generate your reference key.
What Happens If I Have Lost My Bitcoin Wallet?
If you have lost your bitcoin wallet you do not need to panic as soon as anyone has access to your bitcoin wallet. Your funds will be safe and otherwise, you can also transfer your funds to another Bitcoin address safely.
First Thing You Need To Do
The first thing you need to do if your reason to recover your bitcoin wallet is that you have lost the password or your important information is that you have to reinstall the wallet app.