Listen "D19: People that get hurt investing in digital assets find out about this too late..."
Episode Synopsis
How to safeguard your Digital Assets?
Proper storage of digital assets is instrumental in investing in this space.
What is the story you're telling yourself about this discovery?
Digital assets, particularly bitcoins, require proper storage.
Many people don't know the importance of storage when it comes to their digital assets.
If you can safely store your digital assets your understanding and confidence in this space will improve.
Proper storage of anything of value it's instrumental. Think storage of gold.
It's critical to understand where your assets are stored.
Safeguard your private key. Determine if your wallet is hot, cold, or warm. Or if your storage will be maintained via a publicly traded fund.
Anything of value requires proper storage.
Digital assets are no different.
Your time horizon is a key determinant here.
If you're constantly transacting in Bitcoin for example you'll need a hot wallet.
If it's a longer term investment cold wallet may suffice.
Like all investments your investment objectives should drive your decisions.
Think Gold. Many describe Bitcoin as digital gold.
Digital assets like traditional assets require proper storage.
Education is necessary about the proper safekeeping of digital and hard assets.
Digital Asset safekeeping is particularly important because many people are unfamiliar with this space.
Safeguard your private key and understand what type of wallet you own and your investment objectives.
There are many similarities when it comes to investing in digital assets and traditional assets.
Investment objectives, liquidity needs, risk tolerance, and safe keeping are important to all assets.
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