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Back to Basics Bitcoin Wallet Bitamp Puts You In Full Control Over BTC
Bitcoinist | Jun 01, 2020 | 19:00
Time and time again, Bitcoin investors learn the hard way that holding for the long haul is easier said than done. Many holders have their BTC stolen from an under-protected cryptocurrency exchange platform.
Alternative methods such as cold storage wallets exist that offer far better protection. However, there is a wallet that’s more reliable and provides an anonymous way to store, send, and receive BTC, the open-source, client-side Bitcoin wallet Bitamp.
Bitcoin Was Originally Designed For Anonymity, Security, and Control
The open-source Bitcoin core client was designed by Satoshi Nakamoto to give financial freedom back to the world and usher in an era where individuals themselves would be controlling their own personal finances without the need for an intermediary like a bank.
Over time, however, crypto users began storing their assets on cryptocurrency exchange platforms, and not in wallets that ensure security by allowing the writing of private keys on paper to keep them from being publicly accessed.
This has led to an immense loss of funds due to exchanges being hacked, becoming insolvent, exit scams, or users falling prey to a phishing trap.
This calls for a crying need for folks to keep their crypto as much safe as possible. There are options that can serve the purpose. But, there are other alternatives as well.
While many crypto users prefer cold storage wallets, a back-to-the-basics Bitcoin wallet called Bitamp is bringing back memories of the good old days of crypto with its completely free, open-source, client-side Bitcoin wallet that offers unrivaled anonymity.
Bitamp Wallet Brings Back Full Control To Cryptocurrency Users
Anonymity was a key component in Bitcoin’s design. The asset’s creator today remains completely anonymous, even after the cryptocurrency enjoying wild success with over ten years since its inception.
Bitamp is bringing the anonymity factor back. No personal information is required by Bitamp, not even an email address. Accounts can be accessed behind the protection of a VPN or TOR. The client-side wallet directly connects to the Bitcoin blockchain securely to send and receive transactions instantly and globally, all without requiring a bank or third-party service.
Because accounts remain entirely anonymous, even Bitamp cannot access Bitcoin wallets, so it is critical that any seeds generated are written down and kept private and secure, yet reasonably accessible should you need it.
This method ensures that any Bitcoin stored on Bitamp is yours and yours alone, and cannot be accessed or controlled by anyone else without the generated seed phrase.
Bitcoin was always meant to be about financial independence. Storing your BTC on an exchange could put it at unnecessary risk of theft or loss. Instead, stick to tried-and-tested methods that match the ideas that Bitcoin was built on can well ensure the safety and security of your BTC holdings.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.
