Take a fresh look at your lifestyle.

Is storing money in Bitcoin 100% secure?


If you are looking to store your money safely, Bitcoin can be an interesting option, since nobody can take it away from you. Always, but they will always be yours.

All investments, however safe they may seem, have their risks, and we are not talking so much about price fluctuation, but rather about the physical deterioration they may suffer. For example, if you keep dollars under the mattress, or in your safe, you run the risk of banknotes going bankrupt, or some series going out of circulation.

With gold the same thing happens, the bars must be stored correctly, since they can be damaged and lose something of value. In some cases they reach a high percentage of the investment.

How true is bitcoins 100% secure?

If you correctly store your bitcoins in a paper wallet, they will be 200% safe. Since no one can access them, unless you lose the printed paper with your private key. Just like a fiat currency bill, you must take your storage to store it.

Personally, what I do, maybe it serves you, is to cross out 3 random characters from the private key, so that no one could access even if they lost the role. Also, I keep a backup in another safe place. You will know better than anyone how to protect your savings.

Regarding exchanges you should only leave what you use for trading, the rest should be in a paper wallet. There are many trusted exchanges, personally I only use Binance, since it has a wide variety of financial instruments to invest, added to high liquidity.

Storing your bitcoins in a paper wallet is one of the safest options out there.

Should governments invest in Bitcoin?

Personally, I think so, at least part of their reserves, so that in the event that they run out of physical assets, they can use the digital asset, which will always be available.

For example, the most resonant case at the moment is the Venezuelan Gold that is confiscated in London. If those little more than 1 billion had been in BTC, Nicolás Maduro could already be using them.

The London treasury has ruled that it will only deliver the Gold to the legitimate President of Venezuela, Juan Guaidó. In the opinion of those who write, thank goodness, for the good of the Venezuelan people.

Leaving the political issue aside, it is very important that governments have reserves in cryptocurrencies, especially Bitcoin, so that in turbulent times they can count on immediate liquidity.

To finish, do you consider safe to store your money in Bitcoin? Let us know in the comment box.

I say goodbye until tomorrow with this phrase by Warren Buffett:

“Don’t save what you have left after spending, spend what you have left after saving.”

Leave A Reply

Your email address will not be published.