New Methods of Protecting and Securing Your Crypto Wealth

Sovereign Confidential

Black paper

Cryptocurrencies are here to stay – there is no doubt about it. Yes, governments are beginning to put a stop to the true free market that prevailed in the crypto industry. And yes, cryptos will be much more regulated than before in future.

But we expected it. We weren’t naive, thinking a monetary revolution would happen without the status quo trying to stop it, or at least slow it down so they can (ab)use it to their advantage. 

We are cautious market observers. When we see where the puck is going, we will inform you. And the puck, in this instance, is moving towards a place of increased regulation and decreased privacy.

Financial privacy is dead in the traditional financial market: All your information is available online. Banks are highly regulated and must inform governments about everything you do with YOUR money.

You can’t do any online transaction without the Eye of Sauron keeping watch over you. Except with crypto, that is… Crypto allows you to transact more privately, and it is permissionless. You are free to engage with others transactionally however you want. 

So, of course, the status quo wants to stop this. Fortunately, however, there are numerous things you can do to take back your financial privacy and increase your security. 

The first installment of this Black Paper focused on threats to your crypto portfolio, and how you can acquire bitcoin more privately.

Buying crypto without a direct link between you and a regulated crypto exchange is the first step you can take to increase your privacy and security. But we know most people bought most of their crypto through regulated exchanges.

So, in the second installment of this Black Paper, we explain a couple of methods to divorce your physical identity from your Know-Your-Customer-regulated bitcoin. All the methods we discuss are completely legal, and if you care about your cryptos’ privacy and security, you may want to consider implementing some of these strategies. 

We also delve into various types of crypto wallets, from hot and cold wallets to singular and multi-signature wallets. You will learn what bitcoin UTXOs are, and why it is vital to manage them correctly. 

And for those who wish to take a long-term view on their crypto holdings, we also present an interesting strategy on how to pass on your crypto wealth after you pass away.

These are just some of the topics we cover in Part II of this Black Paper on crypto security. 

You don’t need to implement everything we discuss all at once. Start by setting up a simple mobile wallet, and then start developing better privacy and security oriented crypto usage habits and strategies from there.

It is a long, but important read – and one which you definitely don’t want to skip over.

Cryptocurrencies are here to stay – there is no doubt about it. Yes, governments are beginning to put a stop to the true free market that prevailed in the crypto industry. And yes, cryptos will be much more regulated than before in future. But we expected it. We weren’t naive, thinking a monetary revolution would…

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