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Since the introduction of Bitcoin in 2009, the world of cryptocurrencies has grown in size and popularity, especially in recent years. The use and acceptance of virtual currencies has increased, as have the number of tokens and investors. However, as they have grown in importance, theft, fraud, and hacker attacks have also become more common. Because there is no legal framework for virtual currencies, owners who fall victim to fraud or theft often have no recourse.
Responsibility for the security of cryptocurrencies generally rests with investors. Users must decide how to keep their cryptocurrencies as safe as possible while still being able to access them. We have mentioned steps below to set up Bitcoin cold storage wallet
Steps to set up Bitcoin cold storage wallet
Steps to set up a hosted wallet
Steps to set up a non-custodial wallet
Final Words
So here we conclude our article on how to set up Bitcoin cold storage wallet. Bitcoin can be divided into smaller units known as “stashes” (up to 8 decimal places) and used for payments, but it’s also considered a store of value like gold. This is because the price of a single bitcoin has increased considerably since its inception from less than a cent to tens of thousands of dollars. When discussed as a market asset, bitcoin is represented by the ticker symbol BTC.