Bitcoin Holders Protection

[Baby Dragon]

This is recommended for the investors who are not able to protect themselves from the hackers cause they only  have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

Indeed like for example newbies, most of them are still confused and doesn't have enough understanding about safety and security which makes it more bad because as we can see it is definitely speculative. Its the reason why many of them had some bad experiences because of hackers who easily access and take their assets away, its helpful for each and everyone of us who badly want to ensure that our assets is safe.

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[AicecreaME]

BTC Wallet itself act as a bank why do you need to send it to them for protection. You'd be more at ease when you know no corrupt government agencies will ask you to pay for depositing your own money. And they allow mobile app for stock trading to take part of thier scheme. Its more like FDI-see you later money!

I'd rather trust a hardware wallet for my bitcoins and altcoins than saving it on a bank account, I am not that suicidal. This bearish market is scary enough and I don't want to add another problem to my life right now. I'm going to add that we don't need no Government for protecting our bitcoins, we, ourselves are the one who is responsible on doing such a bitcoin enthusiast thing, if they don't trust, well I don't trust them too.

[jarhed]

BTC Wallet itself act as a bank why do you need to send it to them for protection. You'd be more at ease when you know no corrupt government agencies will ask you to pay for depositing your own money. And they allow mobile app for stock trading to take part of thier scheme. Its more like FDI-see you later money!

I'd rather trust a hardware wallet for my bitcoins and altcoins than saving it on a bank account, I am not that suicidal. This bearish market is scary enough and I don't want to add another problem to my life right now. I'm going to add that we don't need no Government for protecting our bitcoins, we, ourselves are the one who is responsible on doing such a bitcoin enthusiast thing, if they don't trust, well I don't trust them too.

Then it’s definitely better to keep Bitcoins on a hardware wallet, not store or trade on the exchange. It is better to make money and invest their free amount in Bitcoin.

[Astvile]

This is recommended for the investors who are not able to protect themselves from the hackers cause they only  have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

You can't call an investor an investor if they can't protect themselves especially their funds on their own and an investor with little knowledge of what he is investing in? the blockchain technology?.
Government services aren't needed and necessary for bitcoin wallets, you will always rely on your own actions, not government protection. Even the government gets hijacked sometimes.

[bounceback]

actually this is an interesting offer to invest our money with a pretty good commission but I am still hesitant to invest there because this is a new project to run especially they offer quite a lot of commissions, but I prefer investing with bitcoin even though we know bitcoin is not so safe but I'm sure about bitcoin for our future.

[doomistake]

Bitcoin holders unfortunately will never be completely safe

Fiat holders will never be completely safe with the bank too, they are just thinking its safe for their own peace of mind because they don't have any options left where they are going to store their wealth. Furthermore, it is much easier to everybody to use something that has many reviews, I mean if you are buying a dress, you are going to ask first if it is their best seller, that goes the same with the people to the bank, since many are using it, people are easily persuaded by the majority.

[kryptqnick]

We are now seeing the FDIC extend coverage to non-banks that do not have the intention to ever become a bank. What cannot go on forever won't.

My hypothesis is that a primary hurdle that keeps people from seeing bitcoin as an option for their savings strategy is the learning curve with safe storage combined with a lack of consumer protection offerings for those that are willing to sacrifice their financial liberties for custodial security. This market segment includes early majority and late majority adopters. I understand Bitgo has tackled this problem set to some effect and seems established as an industry leader. Some other interesting teams are looking to nail down custody as a service, so I feel there is some validation here.

In searching for solutions that might convince people that see this as a fatal flaw for Bitcoin, I thought about dao projects that we've seen rolled out with varying levels of success and blazing flames of failure.

If people need protection from volatility, there are futures contracts exactly for that. They are if you are confident about a certain deal, and you can win or lose depending on what really happens at that point in the future, but at least you know what to expect. Interest rates are boring anyway, IMO. We have some "incentives" to hold money in the banks in my country, but this percentage is miserable. If people need protection from hacks, then they need insurances for their bitcoins. Some insurance companies are now offering deals to insure cryptocurrencies, but this market niche is still fairly empty, although I think it won't be so for long.

[1Referee]

If people need protection from volatility, there are futures contracts exactly for that. They are if you are confident about a certain deal, and you can win or lose depending on what really happens at that point in the future, but at least you know what to expect.

That's certainly true, but what we don't have is a regulated platform at which people can safely do so. There is CME, but the minimum order is a 5BTC contract, and you don't actually get any Bitcoin at all since everything is cash settled. This is exactly why I like that we have a platform such as Bakkt now, where people as time goes by can enter very easily and they can get actual Bitcoin delivered.

1BTC contracts may still be quite steep for a lot of people, but at least it provides some variety and much needed legal recognition, and who knows, if the demand really picks up, Bakkt may introduce smaller contract sizes.

[Wysi]

actually this is an interesting offer to invest our money with a pretty good commission but I am still hesitant to invest there because this is a new project to run especially they offer quite a lot of commissions, but I prefer investing with bitcoin even though we know bitcoin is not so safe but I'm sure about bitcoin for our future.

Bang on, I am also struck in these cross road to believe it or not, I mean this looks so attractive with a reasonable commission amount but nothing compared to the profits which can be earned through bitcoin within a fraction of time during Bitcoin's heyday. I would prefer to stick by loyalty to bitcoin and other altcoins like ETH and BNB.

[rodel caling]

actually this is an interesting offer to invest our money with a pretty good commission but I am still hesitant to invest there because this is a new project to run especially they offer quite a lot of commissions, but I prefer investing with bitcoin even though we know bitcoin is not so safe but I'm sure about bitcoin for our future.

Exactly what do you talking about bitcoin, but investing money offering a big commission I advise learn well to avoid a victim of scammers. Yeah bitcoin is a risky investment but of course people knows the capability of bitcoin and it is proven way back in 2017 the all time high history of bitcoin a lot of people are getting benefit on that time to get better profits so nothing doubt holding bitcoin into safe wallet is profitable than to use bank or anything.

[asus09]

Can you protect a piece of paper with 12 words written to it better than a third party entity yes or no? If yes, you don't need any other (State/Private) protection gimmicks.

If no, go place it in a bank vault and pay the monthly fee to have it secured. At least you are forcing that bank to play by full reserve rules, without they even knowing it.

Banks by themselves are not evil, its the current version of banking, under fractional reserve that is more akin to a ponzi scheme that is.

Sve with the bank and pay monthly payment fee I think is better than we hold in our wallet, saving in the bank more safety than we hold or save our bitcoin in wallet, by saving in wallet we faced with thousand kind to stole our balance where many hacker try to get access to our bitcoin wallet, its not worry to pay monthly payment fee if our bitcoin keep save for long time.

[diahsw]

for this discussion, I think it really needs each individual to see and pay attention to how the results are, because bitcoin protection will be very useful for those of us who have several in the wallet. I also think that the advice of friends here is very helpful to be able to protect my coins here ...

[CryptoBry]

In my opinion, No one is really safe when you hold Bitcoin it is always prone to hackers and fraudulent things that are online, I am not judging their service because I don't have any experience in using it, but if it is online it is always prone in getting hacked, if you would think about exchange getting rob by hackers, All services online can become victims and I think there is no 100% perfect technology there will always this flaw that can be expose. I think there is cold storage that is 100% offline that is really safe for storing cryptocurrency.

Cold storage is a great option which some exchanges are using to protect their digital assets and those entrusted to them and I think so far they are the safest platforms and as for others they should start praying that hackers will not be interested with what they are holding otherwise it can be a hell of an experience and can even put the death certificate into one's business. This is one of the biggest challenge I see in the world of cryptocurrency. Now, if big banks can be subjected to successful hacking, much more with small platforms who can not afford the highest and the most effective security technology. No wonder there are some people who are staying away from cryptocurrency as they are aware of the risks including getting hacked. For individuals, the best way is to use hardware wallets just don't forget the keys.

If people need protection from volatility, there are futures contracts exactly for that. They are if you are confident about a certain deal, and you can win or lose depending on what really happens at that point in the future, but at least you know what to expect. Interest rates are boring anyway, IMO. We have some "incentives" to hold money in the banks in my country, but this percentage is miserable. If people need protection from hacks, then they need insurances for their bitcoins. Some insurance companies are now offering deals to insure cryptocurrencies, but this market niche is still fairly empty, although I think it won't be so for long.

I read somewhere that one big beneficiaries with hacking and ransomware are the insurance companies providing their services to different platforms who are looking for some protection and assurance that if something can happen they can still recoup even part of what they lost. Actually, this is going to be a booming business and the market can be big. Just another business is born because of this problem.

[Wintersoldier]

This is recommended for the investors who are not able to protect themselves from the hackers cause they only  have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

Technically, the cryptocurrencies particularly bitcoin is created mainly as a decentralized platform. Wherein, no interference of banks are need to provide support and security for hodlers. We just need to become personally responsible for our transaction and make it clean that each and every transaction made by us is legal. In this case, as we should also consider providing another computer or storage that is not connected to our personal computer to avoid being breached. Our security will start on our self, and we should always  be aware of that.