Saturday, Oct 25, 2014Saturday, Oct 25, 2014
News
 

Bitcoin owners find safe place for digital currency

Published on Feb 28, 2014 8:51 AM
 

SAN FRANCISCO/VANCOUVER (REUTERS) - Some savvy bitcoin investors have a solution to cyber-thieves and instability shaking online exchanges: they print out their virtual savings and hide them in the real world.

The shuttering this week of bitcoin exchange Mt. Gox and fears that hundreds of millions of dollars worth of the virtual currency have been lost or stolen are pushing investors to tighten their security.

Touted by advocates as a new, digital type of money that could one day replace real-world cash, bitcoins can also be stored like traditional currencies, locked up in a safe, or hidden in a shoe box.

Enthusiasts around the world use online exchanges to conveniently buy and sell bitcoins but bitcoin savings can also be kept closer to home.

 
If you are not a subscriber, you can get instant, unlimited access here