2 years ago

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Get the "Ultimate Guide to Bitcoin" course:
https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.

In this video, I teach you how to create a Bitcoin cold storage setup that can be used to thwart thieves.

You first set up a standard Bitcoin hardware wallet and add a small amount of money to it as a decoy.

You then create a hidden Bitcoin wallet using a passphrase on that same hardware wallet device. It is in this hidden wallet that you want to store the bulk of your Bitcoin savings.

That way, if a thief gets hold of your hardware wallet, he can steal the small amount from the standard wallet, and remain totally unaware of the larger amount that is hidden inside the passphrase version.

This may end up saving both your life and your Bitcoin, if the thief is satisfied to walk away with his winnings.

An even better solution is to use multi-sig cold storage to store large amounts of Bitcoin:
https://www.youtube.com/watch?v=e27pC-gUDIc&ab_channel=TraderUniversity

Not investment advice! Consult a financial advisor.

Trezor hardware wallet:
https://trezor.io/

Blockstream Jade hardware wallet:
https://blockstream.com/jade/

Coldcard hardware wallet:
https://coldcard.com/

2020 Ledger hack:
https://twitter.com/bitcoinmagazine/status/1405572965480153095

Recovery seeds:
https://trezor.io/learn/a/how-to-use-a-recovery-seed

Trezor Suite:
https://trezor.io/trezor-suite

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#bitcoin
#hardwarewallet
#coldstorage

Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.

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