Many persons have asked themselves how to store bitcoins. They seem to be afraid that this virtual currency, which has appreciated by the dozen in the past year and a half, will disappear just like the rest of the virtual currencies all over the world. This is not true. Storing your bitcoins at home is the safest way to keep them there and makes sure you never have to worry about losing them.
Private Keys as Bitcoin Wallet
One way to get your bitcoins is to use one of the several professionally made private keys that are available on the internet. Private keys are easy to make and only take a little time to master. The whole process is rather fooling proof. Once you know how to make a private key, you can then generate one for your use on any of the major exchanges. Since most people usually trade bitcoins for cash or other digital currencies, these secondary exchanges are where you’ll go to sell off your extra bitcoins. When you decide you want to sell off your bitcoins, you just make a trade and walk away.
Hardware Bitcoin Wallets
You may have heard of some specialized hardware wallets that allow you to keep your private key safely tucked away. These types of specialized hardware wallets are usually sold by companies such as those who produce and supply cold storage for digital currency. A hot wallet, on the other hand, is a type of wallet that keeps its bitcoins in a hot wallet, a special kind of bank that only handles digital currencies.
How to store bitcoin, then, boils down to deciding which type of wallet you’d prefer to use. The best way to learn how to store it is to try it out yourself. You might think you don’t need to do this but you’ll be surprised. In fact, you’ll be surprised how easy it really is. Once you understand how easy it is to store it, you’ll wonder why you never made an effort to learn how to do it before now.
Some people are nervous about using computers because they’re afraid their private keys might get lost or misused. This isn’t true with bitcoin wallets. Since the bitcoins are stored offline from your computer, nobody can access them except you. In addition, since the private keys are kept within the safe confines of your desktop or laptop, nobody else can access them either. This keeps your private keys safe and secure. You can feel confident about keeping them at home even if you travel all over the world.
Nobody Can Break into Your Computer
It’s important to remember that nobody can break into your computer to read your private keys. With a typical wallet, this will be very difficult to do, as these wallets use complex encryption methods to keep your private keys safe. As long as you use a reputable online wallet to store your bitcoins, nobody can access them unless they know your password. If you use the default wallet that comes included with the bitcoin software, you can rest assured that nobody can access your bitcoins. However, if you want extra security, you can make additional investments in a specialized desktop or laptop wallet that provides additional security to your private keys.