Why Cold Storage is the Best Option for Long-Term Crypto Holding
Channel: Emily Binder
Date: 2022-10-23

You should consider moving your crypto into cold storage with your own wallet such as Trezor or Ledger. Find out why cold storage is safer for Bitcoin, Ethereum, Dogecoin, Litecoin, etc.

SETUP VIDEO (Part 2): https://youtu.be/l_4d1JyQMYA
-Trezor Model T wallet setup
-How to transfer crypto from an exchange

Blog post: https://emilybinder.com/technology/why-cold-storage/

On June 13, 2022 global crypto lender Celsius stopped all withdrawals across its network, freezing $12 billion in investor money through the move. 

Centralized exchanges like Coinbase and BlockFi are convenient, but in most cases the price you pay is giving them full control of your funds.

The downside to crypto exchanges:
"When you buy through Binance, Celsius, Coinbase, or other custodial exchanges, they are free to use your money as they wish. Until you withdraw to self-custody (e.g. cold storage in your own wallet), there is no guarantee that they ever even hold the assets that you paid for, while they could be using your funds to buy high-risk assets or invest in sketchy protocols to try to turn a profit before you decide to withdraw." 
#trezor blog: https://blog.trezor.io/who-controls-your-bitcoin-8b13b6b581af

PRODUCTS SHOWN:
Trezor Model T wallet (verified Trezor storefront on Amazon):  https://www.amazon.com/Trezor-T-Model/dp/B07B8Q2G3K?&linkCode=sl1&tag=emilybinder-20&linkId=5d56ac65fbfae2fae16639c4bc038f1c&language=en_US&ref_=as_li_ss_tl
USB-c hub dongle (USB and HDMI ports) for MacBook Pro: https://www.amazon.com/dp/B07H2ZS1B5?psc=1&pd_rd_i=B07H2ZS1B5&pd_rd_w=W86Up&content-id=amzn1.sym.dd2c6db7-6626-466d-bf04-9570e69a7df0&pf_rd_p=dd2c6db7-6626-466d-bf04-9570e69a7df0&pf_rd_r=GDGQRKB7YC515MCM3VMD&pd_rd_wg=HMIrO&pd_rd_r=2d8a4714-4eb7-4350-97f6-d0eb137df01d&s=pc&sp_csd=d2lkZ2V0TmFtZT1zcF9kZXRhaWxfdGhlbWF0aWM&spLa=ZW5jcnlwdGVkUXVhbGlmaWVyPUEzR0tYUTE1N0w5M1czJmVuY3J5cHRlZElkPUEwMzIzMTMxMkRCTTdKN05UN1pMOSZlbmNyeXB0ZWRBZElkPUEwMzYzNjEyMlFXRDJBSzZOSTlJUCZ3aWRnZXROYW1lPXNwX2RldGFpbF90aGVtYXRpYyZhY3Rpb249Y2xpY2tSZWRpcmVjdCZkb05vdExvZ0NsaWNrPXRydWU%3D&linkCode=sl1&tag=emilybinder-20&linkId=67a3a20c5b46ff93b0633255aaaadff0&language=en_US&ref_=as_li_ss_tl
Bitcoin bling necklace cuz have some fun: https://www.amazon.com/gp/product/B07DRZWH5S?ie=UTF8&psc=1&linkCode=sl1&tag=emilybinder-20&linkId=24f43c5206dd9d7e1eec4a6cbf444ee7&language=en_US&ref_=as_li_ss_tl
Shure SM7B microphone setup: https://amzn.to/3TNtnoz

CONNECT WITH ME:
Website: https://emilybinder.com
Blog: https://emilybinder.com/blog
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RESOURCES:
1) Tyrone Ross: Twitter: https://twitter.com/TR401 ... Instagram: https://www.instagram.com/tyrun401/
401 Financial (next gen financial planning with unique knowledge and expert support / advice for cryptocurrency: https://www.401financial.co/
"Crypto hasn't even embraced its product market fit: it's the godsend to the unbanked. You will never hear that. Half the people in the South Bronx are unbanked." - Tyrone Ross speaking at TD Ameritrade LINC 2020 - photo and quote: https://twitter.com/emilybinder/status/1488932396741369859/photo/1
#noslides tweet pic: Tyrone Ross and Dani Fava: https://twitter.com/emilybinder/status/1488932396741369859
2) Why I Moved My Bitcoin from Coinbase to Blockfi: https://emilybinder.com/tips-and-advice/personal-finance/why-i-moved-bitcoin-to-blockfi/
3) #blockfi Bitcoin Rewards Credit Card (promo link): https://emilybinder.com/blockfi
4) "Celsius' Crypto Customers Face Big Obstacle in Trying to Claw Back Their Deposits" - Bloomberg 10/5/2022 https://www.coindesk.com/business/2022/10/05/celsius-crypto-customers-face-big-obstacle-in-trying-to-claw-back-their-deposits/
5) "Best Crypto Savings Accounts" interest rate chart: https://p2pempire.com/en/crypto-interest-account
6) NFT of my Bitcoin Kween Halloween costume (you gotta have fun with it): https://v.cent.co/tweet/1455217662435397640?s=u_a

DISCLAIMER: This video is not financial advice. The description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support my production and hosting costs, thank you!

#cryptocurrency #bitcoin #bitcoinnews #coinbase #blockfi