The safest way to store Bitcoin

Recent facts have proven the value of bitcoin as an investment asset. Created as an alternative to fiat money, bitcoin has a significant advantage in the form of limited emission, which makes it much more valuable. The high volatility of bitcoin should be taken as a signal of high interest in cryptocurrency among the community. And times of market correction can be a great opportunity to buy BTC if you don’t have one.

But what to do next after you become the owner of bitcoin? Storing it on an exchange is unsafe because exchanges are often attacked by hackers, as a result of which they lose millions of dollars in client funds. Wallet storage is better, but also controversial. More than 23% of the total Bitcoin issue was lost as a result of the loss of a personal key or the loss/damage of a cold wallet.

Special storages of crypto

So what do you do with your bitcoins? How to protect yourself from potential threats? An alternative to wallets and exchanges can be specialized storage, for example, the Swiss storage SIMBA. Bitcoin vaults are located in 4 countries: Switzerland, Liechtenstein, United Arab Emirates, and New Zealand. Using proprietary hardware and multi-signature technology, SIMBA vault provides the best and one of the safest ways to store crypto.

SIMBA Storage was founded on October 4, 2019. The company is a member of the Crypto Valley Association in Switzerland. The company has also applied for licenses in Liechtenstein FMA and in the United Arab Emirates, which indicates the reliability and high level of the legal protection of the company and its clients. They provide the opportunity to purchase BTC in their storage directly from a bank card, VISA or Mastercard. That is, they give the opportunity to buy an already protected bitcoin.

Cryptocurrency vault SIMBA also has its own coin, which serves as proof of ownership of BTC in the vault. The SIMBA token is a stablecoin, the value of which is backed by Bitcoin. More precisely, to Satoshi, 1/100,000,000 share of Bitcoin.

1 BITCOIN = 100 000 000 SATOSHI = 100 000 000 SIMBA

The issue of SIMBA stablecoins cannot be more than the number of BTC in all storages (this is open information for all Internet users). At any time, ERC20 SIMBA tokens can be exchanged for the corresponding amount of BTC. When a user returns SIMBA tokens to the vault and receives BTC, SIMBA coins are burned.

By the way, if you look at this from the point of view that fiat stablecoins are tied to the cost of fiat currencies, and they have unlimited emission and their price is regulated by the states, then SIMBA looks like a significant advantage. After all, the coin is tied to “digital gold”, and just like bitcoin, it will only get more expensive and rare over time.

Scenarios for using SIMBA tokens:

  • Payment for goods and services;
  • Cross-border transactions between individuals and legal entities;
  • Issuance of loans to third parties.

It is of interest to note that the SIMBA Storage project did not conduct an ICO and developed all its activities at its own expense, the company has its own SST utility token, which is traded on the Uniswap, Coinsbit, and VinDAX exchanges. The token was previously sold exclusively on exchanges and has grown from a starting price of $ 0.1 to$ 2 in almost one year since the listing. The token continues to grow as the company develops and analysts predict to see a price of $ 8-10 by the end of the year because SIMBA does not stand still and at the beginning of the year they laid out an updated roadmap, which plans to develop their own cryptocurrency wallet and cryptocurrency plastic and virtual cards, pre-order for which is already open on the website.

SIMBA recently launched the sale of SST tokens directly on the site for almost any amount at a fixed price.

All the benefits for Simba.Storage users

  1. Safe storage in Switzerland and Liechtenstein;
  2. Confidentiality of personal data of KYC to third countries;
  3. Ability to gain access to BTC in case of loss of passwords;
  4. The storage information is open to all users on the BTC blockchain;
  5. Low commission for transfers up to 5000 SIMBA = 0.00005000 BTC, which will only decrease with the growth of the BITCOIN price;
  6. SIMBA stablecoins can be exchanged with friends and connected to the ecosystem to receive rewards.

SIMBA recommends using the rule of diversification in everything, in storage and investment; to be careful, to study more, and delve into the industry. In turn, SIMBA provides all possible tools so that its users can save their bitcoins and protect them from risks. 

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