Cryptocurrency is often perceived as a fully digital asset that exists “somewhere on the internet.” Because of this, many users mistakenly believe that access to coins can be easily restored in the same way as a password for email or a social media account. In reality, crypto wallets operate according to a completely different logic. There is no support service that can restore access in case of data loss. That is why backups play a key role in the security of crypto assets and are often the only way to preserve funds.
