Bitcoin Can be stored and brought in Smartphone, PC, or cloud
When we buy gold, of course, we have to think of where the safe place to save it. If in the safe, you will have trouble carrying it. When taken in a bag, the potential of the item to disappear becomes very large. Once the gold is gone, you have to give up cash because there is no backup program to get it back.
Bitcoin is not like that.
No need to bother to buy iron safes, Bitcoin you can save on the smartphone that you use today. You just need to sign in to the Google Play Store ( Android) or App Store ( iOS) and type ‘Bitcoin Wallet’ in the search box. There you will find various Bitcoin wallets that you can install on your smartphone, such as Blockchain, Airbitz, Copay, Xapo, etc. Install the wallet, open the app and follow the instructions. You may be asked to fill in an e-mail and password to create a wallet. Use e-mail and passwords that have not used in other social media for your security, and never use an identity like your name or birth date as your password.
What happens when your smartphone goes away? I’m sorry if this happens on your iPhone 7, but I can guarantee your Bitcoin will not disappear as long as you back-up it well. Bitcoin backing wallet method is a variety of forms, ranging from a paper wallet, encrypted e-mail, to storage via desktop that not connected to the Internet. Let’s say you’ve backed up your wallet using a paper wallet and now your Bitcoin wallet stored on your smartphone goes away with your iPhone 6. All you need to do is to re-download the app on your smartphone /tablet and scan the QR Code private key written on your paper wallet. If there are no other devices you can use, try using Google’s help to create a new Bitcoin wallet online. When your wallet created, just enter your private key code and all your Bitcoin will automatically move to the new wallet.
Bitcoin, compared to gold, certainly becomes easier and safer to carry wherever you want. Unlike gold that must be sold first to local currency if you want to use for shopping, Bitcoin can be used directly as a means of payment in hundreds of thousands of merchants that receive Bitcoin in the world, including Rakuten, Overstock, and Expedia.
Can be moved anywhere and from anywhere within seconds
Gold is a great means of storing wealth, but one of its most significant drawbacks is: gold cannot be moved easily.
Bayangkan kasus seperti ini: saat ini Anda sedang bekerja di London dan atas alasan tertentu, Anda menyimpan kekayaan Anda dalam bentuk emas. Adik Anda yang sedang berada di Indonesia mengalami kecelakaan parah yang membutuhkan biaya operasi ratusan juta Rupiah. Saat itu hari sabtu dan di London sudah jam 2 dini hari. Uang Anda masih dalam bentuk emas dan Anda tidak bisa menukarkannya ke Poundsterling untuk dikirimkan ke keluarga Anda di Indonesia. Bila Anda kirimkan dalam bentuk emas, akan butuh waktu berhari-hari untuk sampai di Nusantara. Biaya yang dikeluarkan pun akan berkali-kali lipat lebih besar sebagai jaminan agar emas Anda sampai dengan aman di tangan penerima. Apakah ini solusi terbaik yang bisa Anda lakukan?
I’m sure you currently have at least one social media account that you use to send messages to your family or friends, whether it’s via Facebook, WhatsApp, Line or Twitter. I do not need to discuss again here how easy we can send a message from Indonesia to our friends who are traveling in Australia through one of these social media. The message from him will also be received instantly, no matter when and from where he sent it (maybe he was chatting with you at 2 am from the bathroom who knows ).
To be sure, with these social media sites and apps, messaging, pictures, video, and data, all can happen easily. More great, all for free! Imagine if you should communicate with your friends in London using a piece of paper and a pen? Can you directly receive the reply message? Can you send me a letter at 2 am? Can you send a message from your room?
Then, what to do with Bitcoin? Bitcoin is the same as the topic I was talking about, but the word ‘message’ here we change to ‘Bitcoin’ (or in other words: money), and the “social media” application we change into “Bitcoin wallet”. Unlike gold, Bitcoin can be sent anywhere in seconds, whenever and wherever you want. Yes, exactly like when you chat via WhatsApp! Remittances with Bitcoin can happen only with the capital of a smartphone and an internet connection. Shipping costs can remove until free, but to speed up transactions, usually, your Bitcoin wallet will cut costs around 500 – 3,000 rupiah, no matter how much money sent.
No need to pay for extra security
As we mentioned earlier, gold is difficult to move because the level of protection needs to verified with certainty. You can not send 100 grams of gold in an envelope, is not it? Imagine if you have 50 kg of 24 karat gold that you want to move from Switzerland to Indonesia. Maybe you need to hire some personal bodyguard for it.
Bitcoin is very, very, very easy to secure and it costs free. When you create a Bitcoin wallet, you will automatically have a public key and private key. The public key is a series of letters and numbers that you can imagine as a bank account number. Example public key: 1FP1toj2osvcV2EWjEf7SwyPCRuwTr2dTL
This number can be given to anyone in writing or QR Code to receive Bitcoin. There is even a case where a student earns millions in the form of Bitcoin thanks to a poster containing the public key that he brought to the campus event highlighted by ESPN. His picture spread all over the world through the TV broadcast and in a short time, he managed to get so many donations from the community. This can happen because when sending Bitcoin, the sender only needs to scan the QR Code public key of the recipient only.
A public key will connected to a private key. The private key is a sequence of letters and numbers that you need to keep secret. Think of a private key as your ATM pin. Example private key: 5HpHagT65TZzG1pH3CSu63k8DbpvD8s5ip4nEB3kEsrfuuNUQgn
The worst thing that can happen when your public key or bank account number is publicly known is that you can suddenly receive money from somewhere. But if someone has your private key, or pin your ATM card, then he will be able to move your money anywhere, including into his account.
Whether or not your wallet is safe depends on your own. Learn how to secure your wallet early because different from a Facebook account that only contains personal information, your Bitcoin wallet can be worth hundreds of thousands to billions of Rupiah. Very unfortunate when taken over by others, is not it?
Are you getting better with Bitcoin? Continue to monitor our blog to get the latest knowledge and information related to the world of Bitcoin and Blockchain!