Could you Have Stolen Bitcoins?

It is estimated that approximately 1 to 5 million...

Bitcoins have been permanently lost forever, because the owners of those Bitcoins did not secure them properly.
 Don't Be Like Her and Say...

I've LOST MY Bitcoins!

Some of these Bitcoins were lost simply because the Bitcoin owners lost/forgot the password. Others had their Bitcoins Stolen as they left them in their "online" wallet. These were stolen because they didn’t secure them properly or even worse had a weak password that the hackers could break.

Any significant amount of Bitcoins should be stored OFFLINE of the internet.

Once the Bitcoins are gone there is NO WAY to get them back as there is no I “forgot my password” button, or a CEO to call. There are no charge backs like with credit cards either!
So what is one to do to prevent from losing their Bitcoins and how is one supposed to secure them?
Are you just supposed to get a better password? Wouldn’t it be great if somebody came up with a much more secure way to hold you’re Bitcoins? So it was nearly impossible for anybody to steal them?
Over the last couple of years several companies have come up with a very secure way to hold your Bitcoins. This basically takes them “OFF” of the internet.
The systems they have come up with is called a “Paper Wallet” and it is probably the most secure method known to hold and secure your Bitcoins. These amounts can range from $1 to $5,000,000.
So how does this “Cold Storage “ work?
Essentially, the “Cold Storage” this takes and secures your Bitcoins OFFLINE. So nobody can touch them because they no longer can get access to them, via the internet.
Are you ready to learn how to set up your own Armory Bitcoin Cold Storage Wallet?
Get a 16 part video complete step by step course on how to get started.

 

One of the FREE services that does this is Armory which you can then make your Bitcoins secure.
Essentially: Here’s how it works.
You download and install the Armory software onto your regular computer.
Any Bitcoins you want to spend on a day to day basis you want to keep in a regular wallet (far less secure). If you want to store some Bitcoins for long term savings and maximum security, you would create an offline Paper wallet, to ensure their security.
In order to create this ultra secure wallet you use the Armory software, as it secures your Bitcoins by requiring 2 signatures for any type of Bitcoin spending, from this particular wallet.
1 - Signature is needed from your regular computer and a second signature is required. This is done from an OFFLINE computer which will never “see” the Internet.
2 - This second signature basically authenticates the transaction and makes it a valid Bitcoin transaction.
This is kind of like requiring 2 signatures on a check to make it valid. Without the signed transaction from the OFFLINE computer, the Bitcoins stay OFFLINE in a Paper Wallet and cannot be spent without the 2 valid signatures.
The signatures keep unauthorized people/hackers from installing malware on your regular computer. Then say using that software to gain access to your Bitcoins.
Since the second computer never “sees the internet” there is no way for the hacker to install the malware or key logger software to gain the information needed to get to the Bitcoins.
Short of the Hacker breaking into your house and watching you physically type in the codes into the offline computer they cannot gain access to the data, in order to solve the math problem, so they can’t get the Bitcoins.
Thus Armory software keeps the Bitcoins very secure!

How to set up Armory:

1 - Download the Armory software to a thumb drive and install it on your regular computer.
2 - Verify the software is valid and it is from Armory. (details/video tutorial are on the Armory website)
3 - Create an Armory Bitcoin wallet on your computer (essentially a place to hold some of your electronic Bitcoins).
4 – Obtain an old computer (doesn’t need to be new-as it will never be on the internet- an old Windows XP unit is fine).
5 – Download the Armory software from the same thumb drive which you take to your OFFLINE computer.
6 – Install your Armory software via the thumb drive from Step#4 (Do NOT download this Armory software from Internet-the whole point is to keep this computer OFF the internet).
7 – Test moving a very small amount of Bitcoins ( say .01 btc’s) into the paper wallet and back out to your regular Bitcoin wallet PRIOR to making any large movement of Bitcoins. That way if you lose them or they get lost it’s a very small price to pay.
Are you ready to learn how to set up your own Armory Bitcoin Cold Storage Wallet?
Get a 16 part video complete step by step course on how to get started.

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