Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.
I'm looking for real responses and ideas. Please keep the trolling to a minimum
I'm looking for real responses and ideas. Please keep the trolling to a minimum
The obvious thing to do is to diversify. This applies to any risk management plan.
If you invest in several high risk investments but each only with a small amount, then you are likely to get at least returns from one of the investments, instead of getting stuck on say, one really bad investment.
Same with storage of bitcoins, you could store 25% of your coins in paper wallet, 25% in a trezor, 25% in a bank safe with physical bitcoins made by several companies like titan, 5% online exchanges, 5% in an online private key, and 15% in an online wallet service like Coinbase.
Just a demonstration of what you could do, the ratios of funds distribution can obviously be altered to fit your own personal risk profile.