Here's an overview of all the ways to store your Bitcoin, along with a brief explanation of each.

Ordered from easy to less easy/ more difficult.

1⃣ Leave your Bitcoin with an exchange.

Self-explanatory. The exchange holds the keys to your Bitcoin, no work on your part.

2⃣ Paper wallet.

A paper wallet is simply a piece of paper with your private keys printed on. In the form of QR codes or plain characters.

3⃣ Software wallet, aka hot wallet.

A software wallet is an app on your home computer or phone. The app holds your private keys.

4⃣ Hardware wallet, aka cold wallet.

A hardware wallet is a device, dedicated to holding your Bitcoin keys. Similar to a usb stick.

5⃣ Multisig.

Multisig is a storage method whereby more than one signature is needed to move your Bitcoin. Usually 2/3 signatures. One key is held by a trusted 3rd party.

Takeway:

As with everything in life, there are tradeoffs.

The best way to store your Bitcoin depends on the amount you have, the necessary level of security, the level of sovereignty you'd like, the amount of responsibility you're willing to take.

The best arrangement for each person can be a combination of two or more of the above methods.

Bitcoin is great power 👊

So remember Uncle Ben's words:

" With great power, comes great responsibility. "

Ride the rocket 🚀