As we say in bitcoin, not your keys, not your coins, and the threat of losing your money on an exchange is an ever-present one. It could be through faulty security measures or the fact that exchanges are not exactly renowned for being fully collateralized or honest with client funds.
Regardless of what you think of exchanges, the fact that bitcoin allows you to take custody of your money is a revolutionary action everyone should take if they want to reap the benefits of the system.
Now taking control of your funds requires you to take personal responsibility and spend some money on security measures. You would need a cold storage device to create an off-line air-gapped set of private keys. Once you've done that you will want to secure your keys on something that cannot easily be accessed or destroyed like a steel seed phrase plate.
Once you're hodl set up is ready to go, you might not be tempted to touch those funds, but others may, there is always a point of failure that you need to consider, and one of them could be family.
Not everyone learns to lower their time preference
I read this article about a son trying to steal his father's bitcoin and that's the reality of the world. You can't trust anyone, even those in your inner circle, the temptation of wealth will expose the weak ones around you, the ones who aren't willing to put in the work and they become a very real threat as your bitcoin stash becomes a bigger honey pot.
There are of course options you can use like setting up a private multi-sig address and using this wallet which splits your keys, setting up child wallets under a primary key or setting up a duress wallet to protect some of your funds.
Bitcoin is all about security and there are options to protect yourself in the case of an internal attack on your funds. Yes I know it can be annoying adding all these safety measures because it gives you more work to manage, but you need to consider how much your bitcoin means to you.
The harder you make it for yourself to use, the harder you make it for others to access.
It really is up to you how you secure your bitcoin and any fragility in your setup can and will be exploited so you need to be careful and consider all the angles.
Are you taking the steps to protect your bitcoin? If so, which ones, and if not, why haven't you?
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
Let's connect
If you liked this post, sprinkle it with an upvote or esteem and if you don't already, consider following me 
| Safely Store Your Crypto | Deposit $100 & Earn $10 | Earn Interest On Crypto |
|---|---|---|
 |  |  |
