📃
Whitepaper
  • Abstract
  • Introduction
    • Blockchain Technology
    • Cryptocurrency
    • Decentralized Finance
    • Auction
  • The DefiBids Platform
  • Marketing Plan
    • Viral Marketing
    • Online & Social Media Marketing
    • Influencer Marketing
    • Email Marketing
    • Press release
    • Referral program
  • Tokenomics
    • Staking Rewards
    • Transaction Rewards
    • Deflationary Model
  • Conclusion
  • Legal Notice
    • Knowledge Required
    • Important Disclaimer
    • Representation and Warranties
  • Risks
    • Regulatory Risks
    • Competition Risks
    • Risk of Talent Loss
    • Risk of Development Failure as a Result of Fund Shortage
    • Risk of Private Key Loss
    • Risk of Hacking or Theft
    • Risk of Absence of Loss Insurance
    • Risks of Core Protocols
    • System Risk
    • Risks as a Result of Bugs or Cryptography Development
    • Risks of Insufficient Interest
    • Risk of Poor Reception or User Shortage
    • Risk of Platform Defect
    • Other Unpredictable Risks
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  1. Risks

Risk of Private Key Loss

After the digital wallet address of the BIDs is extracted by the buyer, the only way to operate content in the address is by his/her private key or wallet passcode. As soon as a user, you are responsible for protecting your private key or wallet passcode used to sign transactions and verify asset ownership. Users understand and accept that if their private key document or passcode is respectively lost or stolen, their BIDs associated with their user account (address) or passcode will be unrecoverable and lost permanently. The best means for secure storage of a login document is to separately store the secret key at one or several places and avoid using a shared computer for this purpose.

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Last updated 1 year ago