Updated: Jul 24, 2020
The price of Bitcoin is surging towards the ten thousand dollar mark. It means, now is the time to invest in the world’s most popular and largest cryptocurrency. It is especially the case for crypto investors in Estonia who have always wanted to invest in Bitcoin. And with a platform like Buybitcoin24 that explores the best Bitcoin exchanges for Estonian traders, there wouldn’t have been a better time than now.
Trading Bitcoin also includes understanding among other things, what is a cryptocurrency, and most importantly, how to use Local Bitcoin when converting BTC to fiat currency. However, with Bitcoin trading comes the challenge of security of your BTC wallet and safety of your transaction data. It is something that scares most traders, especially if you consider the recent Bitcoin-hack on twitter that targeted rich and prominent people in the United States.
Thus, the big question is if you want to want to buy Bitcoin now, how do you go about it safely and securely? First off, let’s dispel the rumors out there. Bitcoin is not always the target of hackers but rather, the crypto wallets. You can liken it to losing cash stored in a bank’s safe to hi-tech robbers. In Estonia, Europe’s most preferred crypto investment destination, the safety of your Bitcoins boils down to having a storage space-BTC wallet.
Finding a trustworthy Bitcoin Wallet in Estonia
Heartbleed scare and more recently, Bitcoin-inspired twitter hacks, must have created a lot of worry in the cryptocurrency investment landscape. And so, the big question everyone is asking right now is how safe are Cryptocurrencies, especially the openness with which they are transacted?
Well, according to blockchain technology experts, the safety of trading BTC should not raise any alarm. They argue that blockchain presents a more secure approach to trading cryptocurrency than available alternatives. It is, therefore, time to forget about the doubts that have always lingered in many minds and consider Estonia as one of the top places to buy Bitcoin today. Make use of BTC Hardware wallet
If you want to buy and sell Bitcoin in Estonia, having a hardware wallet guarantees you the safety of your coins. A Bitcoin hardware wallet gives you the much-need peace of mind when trading Cryptocurrencies. It functions like a physical device you can use to store the most vital documents.
In the case of Bitcoins, think about using an optical disk or a USB drive to store your BTC wallet private keys. Simply put, use a drive to store your Bitcoins. The main safety concern that comes with owning Bitcoin is using an edge device connected to the internet of things. A USB drive eliminates the risk of exposure to hackers. It also means, storing Bitcoins is a computer application that carries with it a huge risk of hacking. Thus we strongly advise against it. In Estonia, hardware BTC wallets are affordable because, for less than $100, you are ready and set to go.
Storing Bitcoin in Digital Apps
While Bitcoin wallets are the safest, they present a cumbersome transaction experience. Thus, for traders looking for more fluidity hence can access their crypto coins on-the-go, experts recommend storing a small portion of your coins in a digital Bitcoin app. You should, however, limit it to low-value exchanges. With a credible wallet, and keeping your private key secret, you can use a digital app for storing Bitcoin with little to no worry.
Storing your Bitcoin Private Keys Now, let’s quickly look at where you should store your private keys. Because Bitcoin transactions involve a public-private key approach, we recommend encrypting your keys and also storing your private keys in offline devices such as USB drives. Do not store your Bitcoin in your smartphone or any other electronic gadget.
In summary, secure your BTC transactions in Estonia at the earliest opportunity even if you buy Bitcoin globally. Choose a secure wallet and always store your private keys safely.