Why do we need to keep them safe? Here are some guides and tips for Bitcoin for Beginners.
Bitcoin is a new digital currency that eliminates the needs for banks and allows you to send money to anyone in the world, almost free, and almost instantly. BTC value has skyrocketed since its launch around 5 years ago, and continues to go up in value as more people learn about it’s power and usefulness.
There are only 21 million bitcoins available to buy ever, so they will become more and more rare as time goes on. In 2012 the price was less than $1 per coin. That means if you bought $500 worth of Bitcoin in 2012, today it would be worth $5,500,000 USD and has made many investors millionaires from a small investment, and some billionaires.
So let’s walk through the Guide and Tips for Storing your hard work coin.
1. Don’t keep all your coins in one place.
You’ll be rushed if you lose access to a wallet with all your funds.
2. Protect your private keys as your own life.
Failing to do so may make you end up losing your all coins.
3. Double check the target address.
Bitcoin transactions cannot be reversed.
4. Encrypt wallets to prevent the physical theft of your funds.
In the event that your device or hardware wallet is stolen.
5. Restrict unsupervised access.
Setting a strong password and closing all ports and maintaining a strict firewall.