The safest way to store spot BTC

Good Morning,

I'll be launching "Go Brrr PRO" tomorrow.

The free version will remain available, incorporating the following features:

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The premium version “Go Brrr PRO” will include:

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Now, check out what I’ve prepared for you today: 👇

Stay Up-to-Date

Save time on crypto research:

💰Bitcoin

• ASIA IS COMING TO THE BITCOIN PARTY - (link)
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• Critics: "Bitcoin doesn't work!" (link)
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• The Future of Bitcoin Borrowing and Lending w/ Max Kei (Bitcoin Podcast). (podcast)
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• HOW DOES A BITCOIN LOAN WORK? - (link)

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• CPI Report: Inflation Comes In Hot, Dashing Hopes for Fed Rate Cuts - (link) → Bitcoin reaction (link)

🚀 Altcoins

• Uniswap receives SEC lawsuit warning, CLO describes it as 'another abuse of power' - (link)

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• Solana 'Sucks Right Now'—Devs Are Doing Something. Plenty of fingers have been pointed, but developers appear to be closing in on an update to help Solana’s congestion issues. (link)
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• What are inflows and outflows on crypto exchanges? - (link)

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📈 Trading

• $MUBI - “Please (for my bag) let this become the highest closing candle of this whole range and send it freaking higher right after, yes?” - (link)

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• And $EMC simply keeps ripping higher and higher🔥. (link)

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• DeFi coins moving - (link)

Educational

Question: “If we can’t purchase cold wallets then what is the safest way to store spot BTC'“

If you have a question that you’d like me to answer in a future newsletter, please don’t hesitate to drop a line.

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The most important rule in crypto is “Don’t your keys, don’t your coins.”.

It is very important not to leave your coins on exchanges.

In the past, several exchanges were hacked (MtGox, Bitfinex, even Binance).

There have also been cases where owners stoled people's money (FTX).

Use exchanges only for buying, not for storing.

The safest way to store BTC is in a offline environment.

Offline storage of the BTC (or crypto) is called: COLD WALLET.

Crypto wallets on a device connected to internet, is called: HOT WALLET. 

"Cold" means that it is not connected to the internet.

You don’t have to buy a cold wallet. You can make one.

How to make a free Bitcoin Cold wallet yourself:

1. You need a Device (laptop/computer/smartphone) that you use it offline;

2. An open source bitcoin wallet software. Electrum, Sparrowwallet, Blue Wallet (mobile)

What are the steps for a desktop/laptop device?

1. Find a Functional Offline Computer: For maximum security, this computer should never connect to the internet again after the wallet software is installed. Being disconnected from the internet makes it much more difficult for hackers to access the wallet.
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2. Download Electrum: Download the Electrum wallet software onto a USB stick using a secure, online computer. (Click for download)
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3. Transfer Electrum: Transfer the Electrum software to the offline computer by inserting the USB stick and installing the software.
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4. Generate a Seed: Set up your wallet and write down the 12 or 24 word seed phrase given during setup. This backup seed phrase allows you to recover the wallet in case the computer fails or the wallet software is lost.

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5. Create a Public Address: Generate a public address from the offline computer's wallet.

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6. Transfer Bitcoin: Send the Bitcoins to this public address from an online exchange or another online wallet. Remember to store your backup seed phrase in a safe, secure place.

Below I provide some tutorials for you to watch that will help your understanding and guide you through the process.

• Electrum Bitcoin Wallet - Versatile and Feature Rich (video)

• Using An Old Phone As A Hardware Wallet - (video)

• How To Make A DIY Cold Storage Bitcoin Wallet - (video)

• Bitcoin Cold Storage Secrets (How Not To Mess It Up) - (video)

Note: This is specifically for Bitcoin. The process may become more complex if you want to apply it to altcoins.

Meme Of the Day

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.