The Bitcoin family, which sold everything they had to buy multiple bitcoins in 2017, claims to store their wallet access keys around the world.
The case of Didi Taihuttu, which involves his wife Romaine and daughters, is emblematic in the cryptocurrency community. That’s because, after selling their home, they went out on the road to live on Bitcoin alone.
In recent weeks, with a drop in the price of Bitcoin, they decided to rent a house to live in the place for a year. Even so, enthusiasts continue to believe in the future of digital currency, betting their lives on it.
Bitcoin family keeps passwords for coins purchased for US$ 900.00 in “various places in the world”
The Bitcoin family participated in an interview in recent days where they confirmed an important knowledge with the world community, regarding the currencies they bought in the low market.
Traveling along roads and recording videos on the subject, the family may have many Bitcoins in their possession, purchased in advance of the 2017 high. With their lives exposed, many could question how these people ensure the safety of their coins, doubt the one that has been answered in the last few days.
According to them, in an interview with CNBC, their Bitcoin, Ethereum and Litecoin cryptocurrencies are in devices stored in cold storage vaults, scattered in various locations around the world.
“I hid the hardware wallets in several countries so I never have to fly too far if I need to access my cold wallet in order to jump out of the market.”
The wallets were still hidden on four continents, two in Europe, two in Asia, one in Australia and one in South America. In these places, they are saved in friends’ houses, vaults of companies that make safekeeping of values and even in homes rented by him, who guarantees that he hasn’t buried any wallets.
Of all his wealth, only 26% is in easily accessible hot wallets for him to consume with his family when needed.
Despite the risks of leaving cryptocurrencies in escrow companies, the Bitcoin family trusts companies that have access via multi-signature (multisig) enabled for customers. Some even give support to leave inheritance, which is great to maintain security even in case of death of the holder of the coins.
If it shows that having Bitcoin is not enough, it is important to know how to safely store your coins
Many people who buy Bitcoin on the market don’t care about the custody of their coins after the purchase. Thus, it is common for market beginners to leave coins in brokers, a practice that can offer large market risks.
The ideal, as shown by the Bitcoin family, is to keep most of the coins in storage in cold (cold) wallets, which are more secure. In addition, it is important to learn about multi-signature concepts and create more secure addresses with this support.