What Are the Safest Ways to Store Bitcoin
Nowadays, there are many hackers who can steal your bitcoin as it is stored and managed entirely by a digital cryptocurrency wallet. If you are wondering what a wallet is, then we will advise you to refer to our blogs written on how to get a Bitcoin Wallet earlier. We have also talked about how to buy bitcoin reddit, how to buy Bitcoin and how to send Bitcoin. Now, we will entirely focus on how to store Bitcoin in the safest manner to ensure no theft and other discrepancies.
If you are wondering what makes bitcoin wallets volatile, well, it is solely because it is operated through a decentralized computing system where all the BTC miners are in sync with one another, solving mathematical problems and earning themselves bitcoins. That’s why you should know how to store Bitcoin in the safest way to secure your funds.
5 Safest Ways To Store Bitcoin
As there are many people who ask us about how to send Bitcoin, this is for them and you to make sure you are keeping your investment safe no matter what. Here are some of the best ways on how to store Bitcoin. Keep reading below:
1. Hot Wallet
Hot wallets are digital wallets that are available online. This wallet is easy to use and convenient for you whenever you want to send or receive bitcoins instantly as we discussed earlier in blogs like how to send Bitcoin, how to buy bitcoin reddit, how to buy Bitcoin, how to get a Bitcoin Wallet and more. However, as hot wallets are accessed over the internet, you should have a stronger password and PIN code to ensure your funds are safe from fraudulent acts and so on. Also, it is best to stay low key, especially if you have bitcoin reddit, as it is a public forum where hackers can easily track your whereabouts.
2. Cold Wallet
Unlike a hot wallet, the cold wallet has no trace on the internet, which makes it one of the safest options to store bitcoin and answers how to store bitcoin. This can also be known as a paper wallet where public and private keys are printed on paper and kept in a safe. You can also store them in a hard drive based on your convenience.
3. Physical Coins
There are services, and one of the sorted ways on how to store bitcoin safely is to buy physical coins. The purchased coin will have a tamper-proof sticker on the amount of bitcoin. You might have to invest some money, including the manufacturing and shipping cost.
You should always backup your entire wallet frequently and store them in different devices like hard drive, CDs, USB and more. This is also a very safe way and answers how to store bitcoin perfectly.
5. Software Updates
Always keep your software updated as hackers might target those accounts where an update is not done in a timely manner. Whether you are using the wallet from the phone or computer, keep the OS updated that will fix bugs and other issues.
You can allow more than two people’s signature who will grant the transaction in the first place. By doing so, you are providing extra security, which may not have been possible otherwise.
Now, if you have bitcoin transaction issues, you can always seek our help by contact us You can also read our insightful blogs covering the topics like how to buy bitcoin reddit, how to buy Bitcoin, how to send Bitcoin and how to get a Bitcoin Wallet.