Are you tired of constantly panic selling at a loss? Were you one of the unlucky ones that sold off in the sub $200 and are now kicking yourself that bitcoin is rebounding? Maybe its time to take those precious coins and start hodling them for real. Introducing the new Hodl wallet
Currently this is still just an idea. They have no prototype and are not actually selling the product. However, nonetheless the hodl wallet sounds like a great idea to prevent panic selling and alleviate stress when hodling coins.
Here is how it works:
- Upgrade your existing paper wallets to this hard metal wallet.
- Dig your bitcoins deep and sit on them while watching for the next financial crisis.
There is no step 3. HODL!
According to dr_win which looks like the official reddit account for the hodl wallet:
This product should come as a kit and you would assemble the matrix at home. Using a 3rd party to engrave your private keys does not sound like a good idea to me.
The kit would come with a selection of letters which would be able to recreate the Armory paper wallet private keys.
They use Easy16 character set. And you need to fill 72 positions (2 rows with 9 words by 4 characters). – dr_win
Once you get your kit you would attach the letters to the steel plates forming a matrix from which you could recreate your private key. This way, you are the only person who ends up seeing the private key. Other alternatives like engraving the private key onto a metal sheet would compromise the key because multiple people would have access to it before you (the engraving company)
We will follow this idea and keep you updated when the first prototype gets released! If you liked this article follow us on twitter @btc_feed and do not forget to subscribe to our newsletter!