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Trying to understand the new Handcash model. Can someone enlighten me? Genuinely trying to understand how safe it is to store money in Handcash, or whether I should only store pocket money https://powping.com/posts/18ea8e2fa1ba3af56ba423f53a4b52aea55bbbd5b0cb5f2865aaba6dee18d086
orac tipped:
0.03 USD
1 year ago
Good question musiq. I would like to know the answer to this question too.
Just comes down to managing your personal risk. The more you trust yourself with your keys, the less you need to trust someone else like Handcash. Seems like Handcash’s experience is that people aren’t very good at managing their own keys, so outsourcing key management is prudent. Ultimately, as the industry develops, there will be many options and taking multiple is going to be the easiest way of avoiding the inconvenience of losing ones keys. I say inconvenience because I think in the future bitcoin will be recoverable. This is another plus to using a company like Handcash or a custodian... if there is a system error, their organizational heft should expedite retrieval
orac tipped:
0.03 USD
1 year ago