Chapter 3. Protecting Your Bitcoins
"The governments of the world have spent hundreds and hundreds of trillions of dollars bailing out a decaying, dickensian, outmoded system called banking, when the solution to the future of finance is peer-to-peer. It's going to be alternative currencies like bitcoin and it's not actually going to be a banking system as we had before 2008." | ||
| --Patrick Young - financial analyst | ||
Up to this point, we have explored various ways to buy and sell bitcoin using an online exchange and wallet. Online wallets offer an easy-to-use system for storing bitcoins. However, the real purpose of Bitcoin is to ensure an individual's ability to store and protect his/her own money.
In this chapter, we will explore ways to safely hold your own bitcoin. We will cover the following topics:
- Storing your bitcoins
- Working with brainwallet
- Understanding deterministic wallets
- Storing Bitcoins in cold storage
- Good housekeeping with Bitcoin...
