DON’T LET YOUR BITCOIN GET COLD
We tend to store items in cold storage that we want to preserve for the long term, such as food or medicines. Similarly, investors want to protect their cryptocurrencies. One of the best methods to avoid losing your Bitcoin, Ethereum or other cryptocurrencies through hacking or other nefarious online activity is by storing your cryptocurrencies in cold storage.
This doesn’t mean to freeze your cryptocurrencies or Bitcoins. It just means that the cryptocurrencies are stored in a wallet that is not connected the internet.
Clive Jimmieson of Crossgate Capital – New Zealand’s first regulated share offer in a company investing in Bitcoin and other cryptocurrencies – says ‘Investors who invest in gold, have an obvious expectation that their gold is stored securely. They would expect the gold to be stored with a specialist in their field such as Brinks. Founded in 1859, Brink’s specialises in the secure transportation, handling and vaulting of precious metals.’
Jimmieson noted, ‘Why would investors not expect the same approach when they invest in cryptocurrencies? Security of digital assets should be a major focus for any investor.’
Individuals managing their own crypto portfolio may lose or damage their cold storage wallets. They may misplace their private keys or send their Bitcoin to the wrong address. Some investors may also inadvertently use a 'fake' wallet which is designed to pocket your cryptocurrencies.
Jimmieson added, ‘Crossgate Capital’s assets are secured using institutional grade cryptocurrency security provided by BitGo. They provide advanced cold storage solutions, delivering modern security for modern assets.’
Crossgate Capital not only provides the ability for investors to invest in Bitcoin and other cryptocurrencies without the hassle of storage but manages all the other challenges of investing in cryptocurrencies.