How to Store Your Bitcoin So It Doesn’t Get Stolen
Congratulations on amassing 100 Bitcoin! That’s quite an accomplishment. Now the question is, how do you store it so it doesn’t get stolen? If you’re like the man in this story, you might hide it in a popcorn tin and bury it in the ground. But we have some better ideas.
The Best Way To Store Your Bitcoin
1. Use a hardware wallet. A hardware wallet is a physical device that stores your Bitcoin offline. This means that even if your computer is hacked, your Bitcoin will be safe. The two most popular hardware wallets are the Ledger Nano S and the Trezor.
2. Use a paper wallet. A paper wallet is simply a piece of paper with your Bitcoin public and private keys printed on it. This is an extremely secure way to store your Bitcoin because it’s not connected to the internet and therefore can’t be hacked. However, it’s important to keep your paper wallet in a safe place because if it’s lost or destroyed, your Bitcoin will be gone forever.
3. Use a software wallet. A software wallet is a program that stores your Bitcoin on your computer or phone. The advantage of a software wallet is that it’s convenient and easy to use. However, the downside is that if your computer is hacked or infected with malware, your Bitcoin could be stolen. That’s why it’s important to use a reputable software wallet such as Coinbase or Blockchain.info and to keep your antivirus software up to date.
Store Your Bitcoin So They Don’t Get Stolen
So there you have it! These are three of the best ways to store your Bitcoin so it doesn’t get stolen. Remember, if you’re going to invest in Bitcoin, you need to take security seriously. Otherwise, you could end up like the man in this story—buried under a pile of popcorn with 50,000 stolen Bitcoin!