In 2017, the Dutchman Didi Taihuttu and his family were in the news because they would have sold all their possessions to buy bitcoins (BTC). At the time, the price of a bitcoin was just $900. This means that they have now achieved a generous return and no longer have to worry about money matters. To protect such wealth in the world of crypto, it is important that you know what you are doing. Didi explains in an interview with CNBC how he achieves this.
Hideaways around the world
He explains to the American news channel that he keeps his family’s wealth quite scattered. For example, their crypto fortune would be stored in secret places on at least four different continents. “I have hidden hardware wallets in several countries so that I never have to fly far to get to my cold wallets should I want to get out of the market.” Visit moveco.io has enough information. He has two safes in Europe, another two in Asia, one in Australia and the last one is hidden somewhere in South America. It is clear that Taihuttu takes the safety of his fortune very seriously.
Different types of wallets
In the world of cryptocurrencies, there are a number of different ways to store your wealth. The biggest and most important difference that exists between types of wallets is whether it is ‘cold’ or ‘hot’ storage. Cold storage means that a wallet, often a hardware wallet, is completely isolated from the internet. There is no way you can break into such a wallet via the internet. Access can only be obtained by having the wallet physically available.
Hot storage, on the other hand, does have access to the internet. This means that you can easily access your stored crypto, but also that others can. https://renovato.io/ has enough information. Hot storage is therefore less secure than cold storage. Keeping it safe, Taihutta has stored most of its assets in cold wallets. About 26% is still stored on hot wallets.