Be Your Own Bank with Bitcoin
Comfortable buying bitcoin? Great. Now let’s talk self-custody. Remember our “Hold power. Not paper” motto? Bitcoin gives you true digital control over your money when you use self-custody. Who’s in charge of when and where you access your money now? You.
Intermediate Bitcoin Resources
No Bank Hours. No Bank Limitations.
Ready for a world where banks can't limit or control your money? With Bitcoin, that world is here - right now.
We recommend Bitkey* for your self-custody solution.
It’s simple, efficient, secure, and easy to set up: perfect for new Bitcoin self-custodians. In fact, here’s a video we did of all the features and functions of a Bitkey device. Bitkey literally takes five minutes to set up, so you can just watch the first five minutes or so for all the info you need!
*not an affiliate link
YOU DID IT!
Welcome to digital control over your finances. Below are just a few more things you need to know to keep your bitcoin safe.
Only Bitcoin
The world is rife with all types of cryptocurrencies. I only recommend Bitcoin. Here's why.
Trust But Verify
The Bitcoin network is self-authenticating which means it doesn't require a third party to prove its trustworthiness. You can even view the network being used in real time at bitfeed.live. And, if you're REALLY tech savvy, you can run and verify the system for yourself with a Bitcoin node.
Access Bitcoin Anywhere
in the World 🌎
The level of monetary control that Bitcoin allows is mind-blowing. You can fully control and carry its value with you anywhere in the world and access it anytime just by using the network software. That is the beauty of being your own bank.
However, many people choose to spend bitcoin all over the world in a more traditional way with the Coinbase debit card (accepted everywhere major credit cards are used). That involves a third party (Coinbase), but can be used all over the globe to pay for goods and services.
⚠️ Not Your Keys, Not Your Coins
“Not your keys, not your coins,” may sometimes sound harsh, but no truer words may have ever been spoken.
While owning bitcoin is incredibly important, it is crucial that you take self-custody of your bitcoin when it is a significant amount of your assets.
The history of bitcoin is filled with heartbreaking stories of people that trusted their bitcoin with third parties and have suffered greatly for it. Just to name a few examples:
- Mt. Gox
- Celsius
- Blockfi
- FTX
When you hear bitcoiners preaching about the importance of moving your bitcoin to self-custody, they aren’t just trying to scare you. It’s a warning that you should take very seriously!
Beyond Bitcoin Basics
Explore these recommended posts to expand your understanding of Bitcoin.
What is Bitcoin?
If you're brand new to Bitcoin, this is the content you need to digest first. We recommend you start here.
Learn moreHow does Bitcoin benefit me?
This is a supporting piece of content, perfect for reading next.
Learn moreHow to buy Bitcoin
This is a supporting piece of content, perfect for reading next.
Learn moreIntermediate Bitcoin Content
Once you've digested our primary recommended materials, go deeper, starting with the posts below.
INTERMEDIATE: Bitkey’s Security Architecture
INTERMEDIATE: Bitkey’s security architecture.
Setting Up Bitkey
Self-custody your Bitcoin easily and safely with Bitkey! In this tutorial, we walk you through how to quickly setup this amazingly simple bitcoin multisig hardware wallet. Get ready to bask in the glory of bitcoin cold storage.
Bitkey website: https://bitkey.world/
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And reach out via the contact form with your Bitcoin questions!
