How can you lose your Bitcoin?

While BULL Wallet is installed on your phone, the chance of losing funds due to hacking is quite low unless you’re specifically targeted by a highly skilled attacker. Common reasons people lose their Bitcoin include:

• Someone discovers your physical back up, often a person close to you.
• You leave your phone unlocked, and your Bitcoin wallet not protected with a PIN.
• Your mobile malfunctions or gets lost, and you lack your physical and encrypted vault backups.
• You boast about your Bitcoin holdings, prompting someone to use coercion to steal your funds.

It’s essential to carefully store your physical seed phrase backup, in a very secure location as they are vital for recovering your funds, but also could be targets for someone wishing to steal your funds.