In Brazil, more crypto holders are finding security through physical vaults

07 Jan, 2019
by David Borman
In Brazil, more crypto holders are finding security through physical vaults

It is being reported by Bitcoin News that in the country of Brazil it is becoming increasingly popular to use actual physical vaults to secure large sums of cryptocurrency. This has led to a rise in commercial businesses offering such services, using high tech security measures to ensure that customers' digital assets are safe.

Anyone in the crypto world knows how vulnerable these assets can be to hacking and scams, especially for the not-so tech savvy. Now, high end users in Brazil are starting to turn to physical storage with advanced security systems, offered by a variety of new companies.

Some of these packages offer exceedingly high tech measures, such as layers of armored doors and biometric scanners. These systems are in place because often storing one's private keys on physical media, and then securing that physical media, is safer than storing your crypto on any internet enabled computer. This becomes especially true when the total value of the assets begins to get into the 6 or 7 digit numbers.

Prices on these services range from the affordable under $50 per month range up to hundreds or more per month. It can be worth it though, as this will also prevent a holder from being tricked, coerced or threatened into handing over their keys or opening a personal lock box, eliminating another attack vector.

Will this mentality spread across the globe? Will physical custodial services become the norm as crypto gains acceptance? Stick with Chepicap for any and all updates!

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Read more about: Brazil


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