Securing Your Coin

Wednesday 17 July 2013

The first thing that hits you when you contemplate investing in some coins of your own is that you are on your own. Suddenly you are your own banker. If you screw up, it is often irreversible. There is no one to call who can make it all better if you don't take responsibility for the storage of your Bitcoins or any transactions you subsequently make with them.

This is at once daunting and liberating. In a world smothered in rules, safeguards and insurance just buying and holding Bitcoin re-introduces us to the responsibility that comes with a freedom long forgotten in our all too cosseted existences.

Anyway, that's enough evangelising. While much has been written on the best way to secure your coin our advice would mirror what we all do with our fiat currency; most stays in the bank (read offline or cold storage for Bitcoin) with only petty cash in our pocket (or Bitcoin e-Wallet). Simple.

But whereas cold storage had always been something of a palava in the past, the imminent arrival of Trezor is going to make it super simple. Rather than bore you an explanation of what Trezor offers here, just follow the link below; the boys do a far better job in their video...

Click here for Trezor!

 
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Can't wait for ours to arrive!
 
By Rob @ BitScan

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