Coinbase’s Brian Armstrong Says it’s Okay to Use Hot Wallets to Store Bitcoin

Brian Armstrong, CEO of $8 billion crypto exchange Coinbase, wants to set some misconceptions straight about the security of various types of Bitcoin wallets. Writing in Fortune, Armstrong clarifies – for a mainstream audience – the difference between hot and cold wallets. If the reader is unfamiliar with the concept, it’s pretty simple. A “hot” wallet is connected to the internet and capable of making immediate transactions. A “cold” wallet is secured offline, by definition, although there are degrees of coldness. A private key stored on an internet-connected device but…

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Mike Novogratz-Backed BitGo Offers $100 Million in Crypto Insurance

BitGo, a crypto custodian backed by Goldman Sachs, is offering up to $100 million in insurance coverage for cold-wallet assets through Lloyd’s. There is no additional cost to BitGo clients. In a press release, the company said the $100 million of insurance coverage protects custodial assets held by BitGo against: Third-party hacks. Insider theft by employees of private keys. Physical loss or damage of private keys. Mike Belshe, the CEO of BitGo, touted the new service: “This is the most complete insurance offering in the industry. It is not always easy…

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Huawei to Debut Bitcoin Wallet BTC.com in Mobile Payments Push

Amsterdam- and Beijing-based BTC.com has made history by becoming the first bitcoin wallet to debut on no. 2 smartphone maker Huawei’s recently-launched app store. A joint censorship effort between the Chinese government and telecom companies has blocked the Google App Store to Android mobile users amid what’s been dubbed “China’s great firewall,” making it difficult The post Huawei to Debut Bitcoin Wallet BTC.com in Mobile Payments Push appeared first on CCN

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Bitcoin Under The Skin – Why People Are Using Subdermal Microchip Wallets

Dutchman Martijn Wismeijer is very cautious when it comes to storing Bitcoin – so much so that in 2014, he had two NFC (near field communication) chips surgically implanted into each hand to store his encrypted Bitcoin keys. Wismeijer stated a number of reasons for the drastic method of storing crypto, saying he had lost The post Bitcoin Under The Skin – Why People Are Using Subdermal Microchip Wallets appeared first on CCN

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