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| Keeping bitcoin safe | Providing your own custody can be a complicated, multi-step process with more chances for errors. Not unlike paper wallets, physical coins offer a similarly tangible way to store and transact Bitcoin. A bad actor who obtains your phone number may be able to gain control of your phone by contacting your carrier and requesting a new SIM card. An older computer that can be dedicated to this task is a good solution, although only if the OS is up to date and secure. In other cases the coins are stolen more directly, such as in when Bitcoin bank Flexcoin was taken for BTC, resulting in it shutting down, and the larger exchange MtGox also was hacked, which sent it into bankruptcy. |
| Crypto.com card freeze | For all of these wallet types, users will need a set of private keys to gain access to their Bitcoin. Each type offers a different combination of convenience and security. Subscribe to Decode Crypto Clarity on crypto every month. Looking for more ideas and insights? Hardware wallets are less common than digital wallets or offline wallets for Bitcoin and can be more difficult to locate. |
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