When Bitcoin first began in 2009 the value of a single BTC was next to nothing. This is how things stayed for several years until the price began to steadily increase as more and more people took an interest in Bitcoin. Because it’s value was initially so little, people did not really place that much importance on securely storing their Bitcoin or making a note of their password or seed phrase (if they had one).
Computers that stored the Bitcoin on local hard drives were renewed, sometimes they were scrapped, other times they were put into storage and the BTC these hard drives contained was forgotten about. The software applications that were used at the time to store the Bitcoin were discontinued.
The recent price increase in Bitcoin now means that even a fraction of a single BTC is worth a significant amount of money and this has led to many people searching their old hard drives for their Bitcoin wallets.
Hard drives are not the most robust of devices, and many people found their old hard drives were no longer accessible. If you have a hard drive containing a Bitcoin wallet that you can’t get into don’t give up hope. Just because a hard drive is making a ticking noise or isn’t recognised by your computer does not mean your Bitcoin wallet is lost.
Contact us for further details and check out our cryptocurrency recovery page.