The Bitcoin family secures their crypto in a cold store scattered over 4 continents


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The Bitcoin family secures their crypto in a cold store scattered over 4 continents

The family’s crypto hardware wallets are not stored in an underground vault, but rather are kept in a variety of locations including rental apartments, self-storage sites, and even with friends.

With news of hackers who successfully steal millions of dollars in crypto making headlines regularly, securing their crypto holdings is one of the most important steps investors can take to protect their wealth. digital. A Dutch family who invested everything in Bitcoin (BTC) in 2017 reveals that they are protecting their digital assets using multiple cold storage devices scattered around the world.

The “Bitcoin family” liquidated all of its assets in 2017 to invest in BTC, which was only trading around $ 900 a coin at the time. Now that Bitcoin is trading at around $ 45,000 or 50 times the crypto purchase price, the family’s undisclosed wealth has also grown significantly.

Didi Taihuttu, the family’s patriarch, has revealed that he stores the family’s crypto holdings, which include Bitcoin, Ether (ETH), and some Litecoin (LTC), in multiple wallets. He added that he had them hidden in different countries so that he didn’t have to travel too far in case he needed to access a wallet.

“I have hidden the hardware wallets in several countries so that I never have to steal very far if I need to access my cold wallet in order to exit the market,” Taihuttu told CNBC.

He revealed that two of the refrigerated wallets are located somewhere in Europe, one in Australia, one in South America, and one in Asia. Hardware wallets are not stored in an underground vault, but rather are kept in a variety of locations, including rental apartments, self-storage sites, and even at friends’ homes.

“I prefer to live in a decentralized world where I have the responsibility to protect my capital,” Taihuttu explained.

While investors may choose to store their crypto holdings on platforms such as PayPal and Coinbase, some prefer to store them in cold hardware or wallets. Since this storage method is offline, they are considered to be more secure than their online counterparts, which can sometimes be hacked by sophisticated hackers.

“If you want to store your coins really out of state reach, you can just hold those private keys directly,” said Nic Carter, general partner of Castle Island Ventures and co-founder of Coin Metrics, according to Cointelegraph. . “It’s the equivalent of burying a gold bar in your backyard.”

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