Dutch Bitcoin family, Didi Taihuttu, his wife, and three kids who went all-in on Bitcoin back in 2017 when the price of the cryptocurrency was trading at around $900 has revealed their secrets to safeguarding the asset, with BTC currently trading over $45,000.
The Dutch Bitcoin family is safeguarding most of their cryptocurrencies in secret vaults spread across four different continents.
Speaking to CNBC, Didi Taihuttu revealed that he have stored his crypto fortune in two hiding spots in Europe, two in Asia, one in South America, and a sixth in Australia, saying:
Taihuttu further revealed that doesn’t use banks or post offices to safeguard the cold wallet as he finds them too risky, should any bankruptcy occur leading to losing his asset forever.
According to CNBC, 74% of Taihuttu’s total crypto portfolio is in cold storage while 26% of Didi’s crypto holdings are hot. He refers to his hot storage as risk capital which he uses for day trading and easy access.
These cold hardware wallets are spread around the globe which includes cryptocurrencies such as Bitcoin, Ethereum, and some Litecoin, although the family declined to say how much it holds in crypto.
Hardware or cold wallets are a way to store cryptocurrency assets in offline mode where the owner is fully responsible for the private keys and there is no way of retrieving them in the event of theft or loss. While a hot wallet connects to the internet and allows uses to store cryptos digitally and allows for easy access.