Storage

Once someone has decided to take the leap into the brave new world and acquire some bitcoin, keeping your bitcoin (and the private keys to access it) secure is paramount. Using Bitcoin means you are your own bank, which means you have to take full responsibility for its security. The main options for storage are:

- on an exchange (not great)

- on a mobile wallet (better)

- on a hardware wallet (better still).

It is widely acknowledged that Ledger have arguably the most secure and user-friendly devices to store Bitcoin and other cryptocurrencies. They have two models: the Nano S and, more recently, the Nano X.

The Nano S at £54.50 allows the user to connect the device to a laptop or desktop computer and store up to six different cryptocurrencies.

The Nano X at £109 also features bluetooth for smart phone useage and allows for storage of a much greater number of cryptocurrencies. It also has a more modern look and advanced screen. Ledger Live is the software that connects to the device to view and move funds. It can be downloaded from the Ledger.com website below.

The Ledger devices are encrypted so that your private keys are never connected to the internet. You will need to keep a copy of your private key to the device separately on the recovery cards provided. This means you can access your funds should you lose or damage your device.

Ledger Nano Hardware Wallet

Remember: you hold the private keys to your coins on the blockchain and not the actual coins in the wallet. Your coins always stay on the blockchain.

Ledger Website

Many Bitcoin newcomers start with buying a small amount of bitcoin or other crypto currency and leave it on an exchange as they think: "It's a small speculative amount and I don't really know what to do otherwise. I'll come back to it..."

Then as one's knowledge and the portfolio develops many will move some to a mobile or desktop wallet. This allows you to take ownership of private keys stored on the device. This is still not as secure as an external hardware wallet as the device could be lost or compromised. It is wise to keep a physical back up of the private keys.

There are many mobile wallets to choose from, for example: Coinbase Wallet, Exodus, Blockchain and Samuri wallet. It is hard to recommend individual wallets as there are so many and the general best practice is to use a cold storage device such as a Ledger Nano.

Remember: you hold the private keys to your coins on the blockchain and not the actual coins in the wallet. Your coins always stay on the blockchain.

Mobile Wallets

Bitcoin: Money for the people.

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Basic Education on Blockchain Technology & Sound Money

Storage

- on an exchange (not great)

- on a mobile wallet (better)

- on a hardware wallet (better still).

It is widely acknowledged that Ledger have arguably the most secure and user-friendly devices to store Bitcoin and other cryptocurrencies. They have two models: the Nano S and, more recently, the Nano X.

The Nano S at £54.50 allows the user to connect the device to a laptop or desktop computer and store up to six different cryptocurrencies.

The Ledger devices are encrypted so that your private keys are never connected to the internet. You will need to keep a copy of your private key to the device separately on the recovery cards provided. This means you can access your funds should you lose or damage your device.

Ledger Nano Hardware Wallet

Remember: you hold the private keys to your coins on the blockchain and not the actual coins in the wallet. Your coins always stay on the blockchain.

Many Bitcoin newcomers start with buying a small amount of bitcoin or other crypto currency and leave it on an exchange as they think: "It's a small speculative amount and I don't really know what to do otherwise. I'll come back to it..."

There are many mobile wallets to choose from, for example: Coinbase Wallet, Exodus, Blockchain and Samuri wallet. It is hard to recommend individual wallets as there are so many and the general best practice is to use a cold storage device such as a Ledger Nano.

Remember: you hold the private keys to your coins on the blockchain and not the actual coins in the wallet. Your coins always stay on the blockchain.

Mobile Wallets

Bitcoin: Money for the people.

BTC

Donation Address

bc1qawqat77002nlz2z56gkkydpdhpsu3eezad2mjv

BTC

Donation Address

Back to Bitcoin

Back to Basics

Back to Bitcoin

Back to Basics

​

Basic Education on Blockchain Technology & Sound Money

Storage

- on an exchange (not great)

- on a mobile wallet (better)

- on a hardware wallet (better still).

​

​

It is widely acknowledged that Ledger have arguably the most secure and user-friendly devices to store Bitcoin and other cryptocurrencies. They have two models: the Nano S and, more recently, the Nano X.

The Nano S at £54.50 allows the user to connect the device to a laptop or desktop computer and store up to six different cryptocurrencies.

The Ledger devices are encrypted so that your private keys are never connected to the internet. You will need to keep a copy of your private key to the device separately on the recovery cards provided. This means you can access your funds should you lose or damage your device.

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Ledger Nano Hardware Wallet

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Remember: you hold the private keys to your coins on the blockchain and not the actual coins in the wallet. Your coins always stay on the blockchain.

​

​

​

​

Many Bitcoin newcomers start with buying a small amount of bitcoin or other crypto currency and leave it on an exchange as they think: "It's a small speculative amount and I don't really know what to do otherwise. I'll come back to it..."

There are many mobile wallets to choose from, for example: Coinbase Wallet, Exodus, Blockchain and Samuri wallet. It is hard to recommend individual wallets as there are so many and the general best practice is to use a cold storage device such as a Ledger Nano.

​

Remember: you hold the private keys to your coins on the blockchain and not the actual coins in the wallet. Your coins always stay on the blockchain.

​

Mobile Wallets​

​

​

Bitcoin: Money for the people.

BTC

Donation Address

bc1qawqat77002nlz2z56gkkydpdhpsu3eezad2mjv

BTC

Donation Address

Back to Bitcoin

Back to Basics

​

​

Mobile Wallets