In this video we’ll talk about the best wallet for bitcoin and also cover some best security practices in regards to dealing with crypto currency. When choosing a wallet for bitcoin sometimes we think the best option would be the most high tech solution, however using a simple paper wallet is still the most secure way to store your Bitcoin and Altcoins. Below are key notes that you should take away from this video along with a few links.
– Never store your Bitcoin or Altcoins for a long period of time on an exchange, coinbase, cash app or any other 3rd party service.
– When looking for the best wallet for bitcoin or Altcoins there is nothing safer than a Paper Wallet for long term storage (cold storage).
– When using a paper wallet as your wallet for bitcoin you should also look into adding the additional BIP38 encryption to further protect your private key. This will require you to enter a password before being able to scan your private key. If you do use BIP38 encryption then you also want to make sure you do not forget your password.
– Absolutely do not lose your Paper wallet. The biggest drawback to using a paper wallet as your wallet for bitcoin is that if you lose it then there’s absolutely no way to retrieve it or regenerate the key pair that’s on it.
Buy your own paper wallet necklace: http://bit.ly/bitcoinchain
Generate your bitcoin paper wallet – https://bitcoinpaperwallet.com/
The Fall of Mt. Gox Exchange – https://tcrn.ch/3aPgGnk
The Fall of Cryptopia Exchange – http://bit.ly/2RvKNsB
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