Bitcoin Self-Custody

Not Your Keys, Not Your Coins - Get Your Bitcoin Off Of Exchanges

By hifi.bitcoin | HiFi Bitcoin | 17 May 2022

Read now to learn how Bitcoin you leave on an exchange might be as good as gone when push comes to shove.

For decades, the finances of everyday people have been tied up in the hands of governments and corporations, and have been manipulated or outright stolen by those same people. We as a society have arrived at the point where it’s next to impossible to believe that corporate CEOs and government bureaucrats have our best interests at heart. Our finances, economies, and money need to change.

I’m a huge proponent of financial self-sovereignty. Since we can’t trust our finances to anyone else, we need the tools to be able to trust ourselves. I believe strongly that Bitcoin is the major step in the right direction that the world so desperately needs. For the first time in history, we have money that can be completely resistant to censorship, confiscation, and inflation. But whether it is or isn’t depends entirely on how we choose to manage, or not manage as it were, our Bitcoin.

Wherefore Art Thou Bitcoin?

Case in point: tens of billions of dollars’ worth of Bitcoin are sitting in the treasuries and vaults of exchanges, crypto-banks, and custodians rather than being under the control of Bitcoin users themselves. That’s a lot of Bitcoin.

Granted, a lot of those people are afraid of holding onto their own Bitcoin. They’ve heard too many stories about the guy who accidentally threw away the private key protecting his ~8,000 Bitcoin. But risk of loss aside, controlling the keys to one’s Bitcoin is an essential component of achieving true financial sovereignty as we’ll see below.

By the way, if you’re afraid of self-custodying your Bitcoin or unsure where to start, I’ve got you covered. Check out the mini-series I wrote recently all about self-custody:

Read the full article for free on my website.

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I am an avid Bitcoin enthusiast. I publish The HiFi Bitcoin Letters, a recurring newsletter on Bitcoin:

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