How can I securely stash my retirement savings in digital currencies?

3 answers

• Nov 24, 2021 · 3 years ago
  One of the best ways to securely stash your retirement savings in digital currencies is to use a hardware wallet. Hardware wallets are physical devices that store your private keys offline, making it much harder for hackers to access your funds. They provide an extra layer of security by keeping your private keys isolated from your computer or smartphone, which are more vulnerable to malware and hacking attempts. Some popular hardware wallets include Ledger and Trezor. Make sure to follow the instructions provided by the hardware wallet manufacturer to set it up properly and keep your recovery phrase in a safe place.
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• Nov 24, 2021 · 3 years ago
  Another secure option is to use a multisig wallet. Multisig wallets require multiple signatures to authorize transactions, which adds an extra layer of security. By distributing the signing power among different devices or individuals, you can protect your retirement savings from being stolen even if one device or person is compromised. Some popular multisig wallet providers include BitGo and Casa. Make sure to research and choose a reputable provider that suits your needs.
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• Nov 24, 2021 · 3 years ago
  At BYDFi, we recommend using a combination of hardware wallets and multisig wallets to securely stash your retirement savings in digital currencies. Hardware wallets provide the highest level of security for storing your private keys, while multisig wallets add an additional layer of protection. Remember to keep your hardware wallets and recovery phrases in a safe place, and regularly update your wallet software and firmware to ensure the latest security features are in place.
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