Bitcoin Increase Valuation

Bitcoin Questions and AnswersCategory: QuestionsBitcoin Increase Valuation

Verna V. Brown asked 1 year ago

Greetings,

I would like to know or take advantage of the increasing value of bitcoins that are held in cold storage?

2 Answers
Steven Hay answered 1 year ago

Hi Verna,
Well, the most direct way to take advantage of any bitcoins you hold, in any type of storage, would be to sell them for fiat. Do you require instructions on how to bring your bitcoins out of cold storage so you can send them to an exchange?
If you’re looking to take advantage of the increased value of your bitcoins without selling them, you could sign a message proving ownership of them. That way people will know you control a certain amount of wealth, which could perhaps be useful in certain circumstances.

Verna V. Brown replied 1 year ago

Greetings Steven,

Would it be simpler to send bitcoins (maybe 1) back into my online wallet thereby realizing the exchange rate?

Thank you for responding to my question…this medium of currency is so very exciting…(I can’t stand fiats….just printed I.O.Us) I’m not too bitter…(smile)

Steven Hay answered 1 year ago

Hey Verna,
 
I’m not 100% sure what you want to do here. I sense some confusion about Bitcoin wallets…
 
If your bitcoins are in cold storage or in your online wallet, they’re worth the same price. All bitcoins are worth the same, wherever they’re kept. You won’t benefit financially from moving your bitcoins to a new wallet.
 
You will only profit from Bitcoin’s price increase if you exchange bitcoins you bought for less than the current price for fiat, goods or services.

Verna V. Brown replied 1 year ago

Steven,

Thank you so very much for making it clear.

Have an awesome day!!

Verna

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