How can I safely store 10 million dollars worth of Bitcoin?

3 answers

• Dec 30, 2021 · 3 years ago
  One of the most secure ways to store a large amount of Bitcoin is by using a hardware wallet. Hardware wallets are physical devices that store your private keys offline, making them less vulnerable to hacking or malware attacks. They often come with additional security features like PIN codes and passphrase protection. Make sure to purchase a hardware wallet from a reputable manufacturer and follow the setup instructions carefully. Remember to keep your recovery phrase in a safe place, preferably in multiple locations.
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• Dec 30, 2021 · 3 years ago
  Another option for storing a large amount of Bitcoin is using a multisignature wallet. Multisignature wallets require multiple signatures to authorize transactions, adding an extra layer of security. You can set up a multisignature wallet with a combination of hardware wallets, software wallets, or even paper wallets. It's important to distribute the signing keys across different devices or locations to minimize the risk of theft or loss.
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• Dec 30, 2021 · 3 years ago
  At BYDFi, we recommend our users to store their cryptocurrencies in a combination of hardware wallets and offline storage solutions. Hardware wallets provide an extra layer of security, while offline storage solutions like cold wallets or paper wallets ensure protection against online threats. It's crucial to regularly update your wallet software and firmware to stay protected against any potential vulnerabilities. Remember to keep your private keys and recovery phrases secure and never share them with anyone.
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