Alternative Bitcoin Storage Options If Digital Wallets Are Not Your Thing

Alternative Bitcoin Storage Options If Digital Wallets Are Not Your Thing

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Blockchain

Before buying a car, you should have a parking spot otherwise it can get stolen. It’s the same thing with cryptocurrency, buying a bitcoin is easy but the real task is to keep them safe and secure and that’s where wallets come into the play. However, apart from wallets, you can also use various uncommon ways to store cryptocurrency coins. So, let’s check them out!

1. Use Steganography Display

Use Steganography Display
Image source: bitcointalk

Steganography display is not only the best practice for concealing information but also an effective way to keep the information protected and covered be it a message, picture or file. You can get a steganography craft to conceal cryptocurrency private key inside a picture and hang it on the wall. It is the best way to store and hide your Bitcoin.

Keeping the information in Steganography display will help you empty the wallet in case if the painting is missing or stolen from your place. Moreover, a piece of craft can never get wrong and no one will ever get to know about the secure place to keep your assets. Don’t you think?

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2. Store Your Coins on Your Body

Yes, it might sound a little bit crazy, but cryptocurrency enthusiast is following this creative approach to store cryptos. To store your coins on your body, all you need to do is, ink a sentence that can help recall the seed or you can get inked twelve-word seed into a tattoo.

For encryption:

Please make sure you choose a design that makes difficult to find your seed otherwise it would be futile. As most of the people who have a sense that you have store bitcoin on your body then they might try out decoding your tattoo to take the benefits.

To avoid such incidents, you can design your own tattoo design to trick tattoo artist and other people who can see the tattoo.

You can make sure the visibility of the tattoo is less by getting it inked on your back or chest.

3. Use Physical Coins to store your Bitcoin

Use Physical Coins to store your Bitcoin
Image Source: Titan Bitcoins

Keeping physical coins to store your Bitcoin is also a good practice, you can approach administration to enable you to buy physical bitcoin.  Moreover, you can go with a real coin that has a prudently designed sticker that contains the foreordain information about Bitcoin measures.

Representation of physical cryptocurrency is usually used for contrivance and mostly found in collector’s item. However, users can also try their hands on physical coins to keep your crypto in personal wallet securely.

4. Use an Exchange to store your Bitcoin

One of the most used and straightforward ways to store your Bitcoins is in a trade. Apart from being conventional, using an exchange is also a reliable way to sell, buy and do the trading of your owned cryptocurrencies. However, in this era of advanced technology, like other platforms on exchanges also, you won’t get entirely control of your coins.

Use an Exchange to store your Bitcoin

Due to trading you might get up a victim of hacking or end up dropping your coins in the market fluctuation. So, there is a risk of market fluctuation but if you have a knowledge of the market then you can also make money by using an exchange to store your Bitcoin. Right!

Bittrex, Coinbase, Bitstamp, Bitfinex and Poloniex are some of the popular exchanges for the cryptocurrency trading.

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5. Give a shot to Banking Industry

Give a shot to Banking Industry
Image Source: Medium

As, there are some of the countries where cryptocurrency is yet to be considered a part of legal tender in its place of virtual currency so, giving a shot to banking industry might sound strange, but when you’ve all your assets in banks then why not your coins, right? Moreover, it is another safe way to store your Bitcoins. All you need to do is create a paper wallet and keep it in your private locker in the bank.

Relying on a private locker in the bank will help you to keep your coins safe and secure from robbery and fire.

6. Secure and store your Bitcoin with Electronic wallets

Last but not the least, electronic wallets are another great solution for cryptocurrency storage. It can be used by downloading a tool or hosting in the cloud. The tool is a formatted file which stays on your device to help transactions. Wherein, hosted wallets come with user friendly interface, although, in this you need to trust third party with your confidential keys.

So, these were the some of the uncommon ways that you can use to store your cryptocurrency. Make sure you have the proper knowledge about the way you are going to use to store your coins.

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