How to Store your Bitcoin Off-line for Safety and Security
If you buy any amount of bitcoin as an investment, and you don’t plan to spend them within the next few months, it’s generally considered very wise to take the bitcoins off-line, and put them into “cold storage”, as we call it.
Online sites are so convenient that you might be tempted to leave your bitcoins there. However, when your bitcoins are online, with any type of web site, you are completely trusting your cash with the people who run that site… and you’re totally at the mercy of whatever level of security they have in place. In general, this is not a wise idea…. unless absolutely necessary… and even then, only in small amounts, and for very short periods of time. Why tempt fate, and people, undoly?
Storing bitcoins yourself, in a local file on your own computer, might be even more risky. Not only could your entire computer be stolen, but there are now viruses going around designed specifiically to steal bitcoins off of your computer. In addition, even experts have accidentally deleted their own bitcoin from their computer. Don’t let that happen to you.
There is no way that bitcoin in a paper form can be stolen, deleted, or destroyed… (unless of course that piece of paper is stolen, copied, photographed, or destroyed).
Most people understand how to protect a piece of paper from destruction or thieves… much better than they understand how to protect a computer file from viruses, electronic thieves, accidental erasure, or insecure web sites.
Advanced: How to Install and Use the Local Bitcoin App for Transactions without Replying on Online Sites
Many expert bitcoin users will point out the risks of trusting any online web site to store your bitcoins.
Most say it’s safe to use online exchange sites to buy and sell bitcoin, but they recommend never storing any amount of bitcoin on any type of online site for long – no matter whether it’s an exchange site, ewallet, payment processor, whatever.
Start Exchanging Bitcoins For Cash Now Using This Secure Website: