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Keeping your bitcoin safe

Not your keys - Not your bitcoin.​​

Keeping your Bitcoin on an exchange such as Counbase is not recommended they can be hacked, go bust or the government could just decide to take over. They hold the keys to your Bitcoin - not you.
Not your keys - not your Bitcoin.
With regular money there are varying levels of security that depend on your circumstances & amounts.
You may be happy keeping £200 pounds in your wallet but not £200,000.

Software Wallets

Software wallets on your phone have the convenience of always being to hand but are not as secure as Hardware wallets because they are connected to the internet.

Software wallets can be for Desktop or Mobile phone and sometimes both. Treat a software wallet like your regular wallet, for keeping a small amount - NOT your life's savings.

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  • Green: by Blockstream, Bitcoin only Wallet. A true open source Segwit enabled wallet by Blocksteam.
  • Bluewallet - Multiple wallets in app including Lightening on IOS and ANDROID
  • Samourai Wallet https://samouraiwallet.com/download
  • Wasabiwallet - Very privacy orientated wallet for the more advanced. https://www.wasabiwallet.io​

Lightning Wallets

Lightning wallets are for instant payments.

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Exodus an excellent easy to use multi currency desktop wallet where you can exchange between currencies -in app-


Electrum

Electrum is one of the longest running most trusted wallets.

https://electrum.org/#home

Casa

"The safest way to store your bitcoin"
Casa makes it easy to buy and secure bitcoin without wondering whether you’re doing it right.
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Hardware wallets.

   Hardware wallets are NOT connected directly to the internet & only connected briefly through specially designed hardware so are virtually impossible to hack online.

Coinkite Coldcard

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What is the Coinkite Coldcard? It's a Bitcoin hardware wallet, so it signs transactions and can be used offline. Its quite technical to use requiring electrum wallet and your own node so not for newbs but hardcore privacy.
https://coinkite.com
Tresor
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Trezor. Invented for your digital freedom.Securing your digital assets has never been more straightforward.

Ledger

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    While this is probably one of the best hardware wallets-  Due to PRIVACY CONCERNS I DO NOT RECOMMEND Ledger wallet UNLESS it's in conjunction with Wasabi wallet (see vid) not the Ledger Live that comes with it.
   Possibly KYC AML Legislation or the wallets support for shitcoins has forced these companies to log far more privacy details than is necessary for Bitcoin only.

"Physical" Bitcoin

Physical Bitcoin Revolutionary ? A bit like handing over cash, physical Bitcoin is now a thing but how do you know they haven't copied your private key before hand ?
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Opendime is a small USB stick that allows you to physically spend or give away  Bitcoin like a dollar bill. Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. Trust no one.
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https://tangem.com

This is a great idea from Tangem if they can pull it off. Being bale to spend Bitcoin just like pound notes could be awesome but how do you know they're not fake ?
Never keep your Bitcoin on an exchange!
Remove it to your storage device ASAP. Exchanges can and do go bust or get hacked or an employee can “loose” the currency.

Other resources

Here's a real good wallet guide from bitcoin.org
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  • Home
  • Mining
  • Newbs
  • Power
  • Climate
  • Scams
  • FAQs
  • Wallets
  • Buying
  • Bitcoin
  • Lightning
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  • Glossary