Post
Topic
Board Bitcoin Discussion
Re: Best way to store Bitcoin safely ?
by
Ayaancool
on 20/06/2018, 09:43:52 UTC
Bitcoin isn’t an object, it’s an encrypted address on the blockchain. What you own is a unique key that unlocks a specific bitcoin location, and that’s what you need to be protecting at all times by storing it in a wallet.The easier way to store your bitcoin and other cryptocurrency is in a digital wallet online, or locally on your smartphone or computer. But leaving your bitcoin in public view can open you up to attacks from hackers and phishing scams. That’s why the best option is a hardware wallet that stores your bitcoin offline.Most hardware wallets look like USB drives and can be easily connected to a computer. They use a PIN number for security, along with a secondary password called a “seed” in case you forget the PIN. If you forget both passwords you’re pretty much screwed, so it might be worth writing the seed down somewhere safe offline.