How are bitcoins stored ? As mentioned above, a large amount of bitcoins should not be stored in an exchange account, especially in a hot wallet. They are protected by a person.
On nypost.com, the value of Bitcoin falls below the cost of mining
The real answer is that bitcoins are always stored online on the bitcoin network. Let's try to understand this in relation to Bitcoin. With this set of private keys, you can access all bitcoins sent to your wallet.
The secret code needed to use Bitcoin protects the wallet and helps manage transactions.
Technology is a tool to help people. Bitcoin is a new generation of monetary transactions. Because the blockchain is available online to anyone, as a bitcoin owner, you don't actually "store" bitcoins in your wallet.
Imagine how valuable Bitcoin is as the world begins to recognize its place as the new store of value.
A good store should not be as fleeting as flowers or milk. What direction does it go when you send it? If you say "Bitcoin", you're wrong.
A copy of this information is available on every node of the Bitcoin network (ie, every computer on which a Bitcoin client is installed contains information about all Bitcoins in existence).
Bitcoins are stored on computers as a series of access keys called Bitcoin wallets. Bitcoins are stored on the Bitcoin blockchain network. Where are my bitcoins stored?
What's in Your Bitcoin Wallet?
You cannot store Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC) in your wallet in fiat currencies such as US dollars or Euros. Information about how many bitcoins are held at each address is stored in a data structure called a blockchain. The real answer is that bitcoins are always stored online on the bitcoin network.
Let's try to understand this in relation to Bitcoin.
With this set of private keys, you can access all bitcoins sent to your wallet. Cryptocurrencies are digital assets, they don't actually exist. Imagine how many bitcoins have been lost and never recovered.
