Investors all around the world have suddenly become very excited about bitcoin and other cryptocurrencies. The biggest issue with investing in bitcoin is how to protect that investment against loss. The issue is far larger than many first time investors are aware of. But just how do investors get total securing for their crytocurrency investments?
Hackers and Bitcoin theft
Bitcoin has a history of people losing all their investments to hackers. These modern day bank robbers have managed to hack into the largest cryptocurrency exchanges and clean everybody’s accounts out. Then thanks to the anonymous nature of cryptocurrency transfers the location the funds are moved to is untraceable. Investors small and large have lost everything thanks to storing their cryptocurrencies with online businesses.
But hackers can also steal bitcoin and other currencies stored on your own computer. Once they have identified a target computer, skilled hackers can and will break down your fire walls and gain access to everything.
Another huge risk of storing your bitcoin etc on your computer is computer failure. I had this happen to me a few years ago. I lost at least 1 bitcoin when the hard drive was reformatted by a heavy handed computer repair “expert”. That bitcoin would now be worth thousands of dollars.
Hard drives fail, and even power surges can damage your computer beyond repair. This would relegate your digital wallet to the internet wastelands, never to return again.
Off line storage for Cryptocurrencies
The better way is to keep your “digital wallet” on an offline device line a memory stick. This means that unless hackers are actually accessing your computer at the rare times you plug the drive in they cannot access your wallet and make a transfer.
But being safe from hackers does not always mean safe. If you lose that stick drive, there is no way to ever get those coins back. A house break in, a fire, or even dropping it somewhere and your investment is gone. Nobody will ever get those coins back for you.
Cold Storage for Bitcoin
The next step up in security is to get your digital wallet in a safety deposit box. This is exactly what people do with valuable jewellery, bond papers, and precious metals that they store themselves. If you had a large sum of money in gold you wouldn’t leave it just sitting around the house. A fire, disaster, or thief could still rob you of your investments.
But just how safe are the safety deposit boxes at your local bank? Well the bad news is even banks get robbed. Sometimes the safety deposit boxes are targeted rather than the big bulky vault where the cash is held.
How to insure Bitcoin from loss.
Insuring Bitcoin, Litecoin, and other cryptocurrencies is such a new field that it is virtually impossible to obtain. But people who own art worth millions still insure their investment even if it is stored in a secure vault. Insurance companies charge premiums according to risk. Insuring bitcoin for most customers is very risky for all the reasons above.
How to store and insure Bitcoin
There is one company who can store and insure cryptocurrency investments for their customers. They are the first that we know of to achieve this.
This is how they have achieved the most secure way to invest in bitcoin and any other cryptocurrency:
- All customer wallets are individually stored off line in cold storage.
- Storage devices are kept in the 5th most secure vault in the world.
- They are the first company in Dubai licensed to sell and store cryptocurrencies.
- Their processes have been approved by Lloyd’s of London. They can offer 100% insurance against loss for their cold storage customers.
Try finding this anywhere else – I bet you can’t.
They saw the change coming with bitcoin and put in the work load to develop a world leading system to protect their customers. Traditionally wealthy investors relied on them to safely invest in gold bullion. But now they are able to offer this world first service with cryptocurrencies as well.
Why Cryptocurrency storage in Dubai.
This company already uses Dubai as a hub for its international business. The UAE has put laws in place allowing the international trade of not only precious metals, but also now cryptocurrencies. No matter what laws are passed in your own countries, your investments are protected in Dubai.
Countries like the USA and now Russia are making it increasing difficult for their residents to deal with bitcoin. The US federal government is using its full box of tricks to take down crytocurrency companies. Even though they are trying to operate legitimately. With the UAE and Dubai you are guarded from these protectionist policies.
Completely licensed with business offices in the Dubai DMCC tax free zone and the only company of its type offering 100% insured cryptocurrency investments.
Click here to go to their website to find out more and contact their brokerage team to make your own 100% protected cryptocurrency investments.
Before prices continue to rise!