Get Your BTC Out Of - Prepare For August 1st! — Steemit

steemit.com5y ago

One of the biggest gripes with the new wallet is that private keys are not accessible to the user. This is a huge red flag as access to your private key will allow you to keep your Bitcoins in the event that the wallet service disappears. Even users with older or imported wallets could access their keys via the legacy wallet, but that is no more. For this reason, stop using and look into alternatives that give you access to your own private keys.

Recovery Of Private Keys Through The 12-word Phrase

If you still have access to your 12 word phrase, you can attempt to recover your coins with this Mnemonic Code Converter. It is a theoretical method, but there is not guarantee that these private keys will lead to your coins. See more info from this bitcointalk post.

Don't Trust Online Wallets

Switch to another Bitcoin storage method in which you will have access to your private keys. The motto is "be your own bank" so you should do just that but from your own computer. To get out of the ticking time bomb that is, you will have to transfer out to your new address and eat the transaction fee. 

You can simply do things the old fashioned way store your bitcoins the old fashioned way with in an encrypted wallet.dat file via the official client. Electrum is another great option that won't require you do download the whale of a blockchain. For cold storage, consider creating paper wallets that are BIP-38 encrypted.