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Bitcoin Safety & Best Practices
Welcome to the exciting world of Bitcoin & digital cryptocurrency!
Bitcoin & blockchain-based digital currencies represent a bold new phase in the evolution of money & banking. For the first time in generations, cryptocurrency participants have demonstrated a greater level of trust in the blockchain community than in the modern banker. Seeking a brighter future, enthusiasts leave behind banking standards of fraud protection, chargeback protection, password recovery, & many other conveniences not yet available in the realm of cryptocurrencies.
In this brave new world, knowledge is power. When we developed Cold Storage Coins®, we took a hard look at common cryptocurrency problems and developed what we believe to be the easiest & safest way to own Bitcoin. We work tirelessly, so that you, our community partner, have the greatest opportunity to join & profit in the digital currency revolution. Manufacturing integrity is our top priority. Together, we can forge the future of money & value.
Please read and consider the do’s and don’ts outlined in this booklet. We hope you enjoy a safe & prosperous experience with digital currencies & Cold Storage Coins®!
✓ Keep your Cold Storage Coin® safe & secure.
Once you load your Cold Storage Coin®, keep it someplace safe! With Cold Storage Coins®, you’re converting digital risk into physical risk; it’s very important to store your Cold Storage Coin® somewhere it won’t be lost or stolen.
✓ Download the Cold Storage Coins® app & track the value of your digital currencies.
The Cold Storage Coins® app is a great way to keep track of your coins & values. You can add value, redeem & set notifications based on your performance goals.
With digital currencies rapidly developing and improving, new opportunties emerge on a regular basis. Keep up with industry news & consider spreading your eggs across multiple baskets. We make Cold Storage Coins® for many different blockchains.
✓ Look before you Leap!
There are no refunds, chargebacks or fraud protections in the world of digital currency. Chances are good a bad decision can’t be undone! Exercise caution & prudence at all times.
❌Don't buy more than you can afford to lose.
Like many other bleeding-edge technologies, the value of Bitcoin & other digital currencies is extremely volatile, and can fluctuate dozens of percent on a daily basis. No one knows what it’ll be worth in 1 month or 1 year – it could be priceless, or worth nothing at all.
❌Don't Reuse your Cold Storage Coin®.
Your Cold Storage Coin® is an easy way to keep your digital currency safe. But once you peel off the security seal & scan the laser-etched private key, that secret info is no longer secure. Acquire a new Cold Storage Coin® and start over to keep your asset as safe as can be!
❌Don't fall for scammy apps, shady exchanges & get rich quick schemes.
The more you learn about digital currency, the more exciting it is! But, there are plenty of horror stories to learn from. Even the experts fall victim from time to time. If something is new, untested or looks too good to be true, be extra careful before taking on the risk.
❌Store your digital assets online!
Always use Cold Storage Coins® to keep assets safe when not trading online.
Frequently Asked Questions
Does the App Backup my Cold Storage Coin?
NO! And PLEASE be careful! Keep your Cold Storage Coin somewhere safe…if you lose it, it’s GONE forever. There is no way to recover a Cold Storage Coin key.
What is a wallet?
A wallet is simply a way to send, receive or keep your cryptocurrency. Each wallet has a unique address. Each cryptocurrency has some form of client software similar to an email client that you download in order to send, received and keep your cryptocurrency. You can learn more about cryptocurrency wallets on the BitcoinWiki Wallet page.
Why are Cold Storage Coins the safest way to store digital currency?
In the past, the only way to store cyrptocurrency offline was by utilizing a paper wallet, a device like a USB drive, a sound file loaded on a CD or a hardware wallet (electronic device). Each of these traditional methods are delicate and can be easily damaged in fires, floods & natural disasters, or simply wear out over time. Further, many of these solutions make you dependant on 3rd party service providers, that may some day get hacked or go out of business, or cause your cold storage to become unavailable.
With Cold Storage Coins, everything you need to redeem your cryptocurrency is deeply laser-etched on the coin’s surface, hidden beneath a best-in-class tamper-evident holographic security seal. Nothing is required from us now, or in the future, to redeem your cryptocurrency asset. Cold Storage Coins are minted from investment-grade copper, silver or gold, and won’t rust, corrode or fail over time. They can withstand floods & temperatures in excess of normal house-fires.
Best of all, Cold Storage Coins are unique collectibles, unlikely to be carelessly discarded like old hard drives or scraps of paper.
What's the difference between a hot wallet & cold storage?
Hot wallets are like a debit card account and cold wallets are savings accounts. One would keep a small amount of cryptocurrency in a hot wallet to shop and pay bills. Cold Storage is where a person would keep larger amounts of their digital currency they do not intend to immediately use. Cold storage is more difficult to access, and usually kept offline, not available to online theft. You can learn more about cold storage on the BitcoinWiki Cold Storage page.
How long does it take to retrieve cryptocurrency from my Cold Storage Coin?
We hate to say “it’s instant!”, but it’s really pretty quick. If you use a good hot wallet app, you’ll be able to quickly import the Cold Storage Coin wallet and spend right away from that address! Try it out and see just how fast it is!
Can I use a Cold Storage Coin to safely store ANY type of cryptocurrency?
No! Each Cold Storage Coin features a VERY specific wallet, securely generated for a specific blockchain. Be sure to check the currency identifier on secure hologram, and make sure it matches the type of cryptcurrency you’re about to store on the Cold Storage Coin.
Cold Storage Coins come in a variety of designs, each of which supports a different blockchain. So, be sure to select the Cold Storage Coin that suits your digital asset.
In the example of Ethereum-based smart contracts and tokens, our Ethereum product is able to accept many different types of these assets. Contact Us if you want to test an asset before sending to cold storage!
We’re adding support for new blockchains all the time, so keep an eye on our website for updates, in case we don’t offer the Cold Storage Coin you need just yet. Or of course, let us know what we should mint next!
How do I verify that my cryptocurrency is stored on my Cold Storage Coin?
Checking your Cold Storage Coin balance is easy! Simply scan your Cold Storage Coin with our free app and our system will scan the matching blockchain for the wallet balance.
What happens to the private key once the coin is engraved?
Creating secure Cold Storage Coins is a very complex process that involves laser etching of a private key & private key QR code on every coin’s surface. The integrity of this process is paramount to our product’s success, and this production process is strictly overseen by our Managing Director. The keypair is generated on an offline computer, the lasers are run by computers that have never been online. Each computer is wiped clean using USA Department of Defense quality destruction methods. You can learn more about the steps we take to secure the sensitive information in our Security Statment.
How many times can I use my Cold Storage Coin?
Like an antique porcelain piggy bank, you can add onto your Cold Storage Coin as many times as you want. When you’re ready to “cash out”, instead of smashing it with a hammer, all you’ll need to do is peel off the security seal, clean the coin’s surface, and scan the QR code, importing your digital asset into the hot wallet of your choice. Once your private key has been scanned, your Cold Storage Coin is no longer secure and should be kept exclusively as a souvenir!
Is it safe to buy a pre-loaded Cold Storage Coin?
Not a great idea. Each Cold Storage Coin is designed for personal use by a single individual. We urge you to buy exclusively from Authorized Dealers, and add cryptocurrency to the Cold Storage Coin by way of a trusted app that you control. If you have an opportunity to purchase a pre-loaded Cold Storage Coin, redeem the value immediately, preferably before you part ways with any cash.
I damaged my sticker - how do i find out my wallet ID?
Each Cold Storage Coin features a unique, laser-etched private key. The public key is encapsulated in a QR code, and printed on each coin’s security seal. If for some reason your coin QR code becomes damaged or unreadble, you can lookup your coin’s public key using one of our online tools.