Hide Your Bitcoin Using These two Cool Tricks
Hide Your Bitcoin Using These two Cool Tricks
This video by Trader University will give you two ways to help hide your bitcoin. I have enjoyed watching Trader University's videos lately for his knowledge of various topics and bitcoin. If you enjoyed the video, you are welcome to like and subscribe, and if interested in learning deeper, he has available courses.
Let's dive into it. First, hypothetically, you purchase $5000 of bitcoin worth $500,000 or more in the future. Next, you will want to know how to secure and store these funds safely.
bitcoin wallets click here When you store your bitcoin on a hardware wallet, this has the private key you have access to and only you. If you store your bitcoin on an exchange or coin base, they hold your private key, giving them control of your bitcoin. To understand more, click the link above.
Setting up a Trezor pin code: Trezor pin is the same as opening your phone or computer. You have a lock code to enter your Trezor or wallet to prevent theft if someone gets access to your wallet. After 16 attempts, the device will wipe itself.
Setting up a Trezor Passphrase (13th word) You can prepare a hidden wallet with a passphrase to recover if needed For example: if you have a 12-word recovery seed, you add a 13th word you make up. You can store your bitcoin in your wallet, and you can keep a majority of your money on your hidden wallet for more secure purposes.