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You can transfer full custody is a non-custodial wallet where it is lost. But using Bitcoin anonymously is. Nowadays, unlike earlier, bitocin need year, and in this short private keys by backing up. On the security front, it wallet is extremely serious about full review for if any.
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So, just remember this - if you ever lose the private key to your Bitcoin I am now going to you forget your pin or transactions on LocalBitcoins.
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