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Bitcoin & Internet Connectivity

Neutral ATM still gets some calls from those who do not understand the importance of offline keys to secure the Bitcoin they do have.  Bitcoin lost because of a lost wallet, or purchase receipt cannot be recovered.  You have to own a wallet, ideally on your phone and an offline wallet, then you have to possess the private keys to that Bitcoin.  Our ATM machines have a scan feature whereby a phone wallet can be scanned on the machine.  

We see the Facebook, Whatsapp, and Instagram shut down yesterday as the tip of the iceberg.  Expect more shutdowns at some point in the future.  To prepare for this unknown, it is imperative to have an offline wallet to store Bitcoin and hold the private keys.  The private keys are the 12 keywords, which only the holder knows.  Keep those in a fireproof safe, some people make a copy and use another one in another location.  Either way, it is important to remember, not your keys, not your coins!

Offline Wallets:

  • - Trezor wallets are secure, never hacked, simple to use.
  • - Coldcard is the most secure wallet, never hacked, more complicated to use.  

Both are good wallets.  We own one of each!

For IRA’s we know of three options:

  • BitcoinIRA (no keys), however they are stored at Bitgo offline cold storage, insured by Lloyd’s of London.
  • Unchained Capital (Multi Sig Keys), you and two others (one is Unchained Capital) stores your keys.
  • Choice IRA (You hold the keys).  We have not used them but they let you hold the keys.  

Bitcoin is trying to push over $50K.  This is the chart from yesterday before the breakout, we now know, Bitcoin brokeout from this wedge pattern:

The next key level to watch for is still $54,000.  We expect this level to be broken, however, we don’t know how long this will take.  Maybe a few more days.  Bitcoin is well on it’s way to achieving the stock to flow model projection of $68,000 by the end of October.  The projection for November is $98,000 by end of that month.  So things are really looking up for Bitcoin.  Now is a perfect time to possess those private keys! 

Facebook is an example of a social media company that did not secure privacy of it’s users and censors content at the behest of it’s controllers, whoever that may be.  The point is, Facebook was shut down for 6 hours yesterday.  If the censorship issue persists continually, expect a longer term shutdown and perhaps more widespread.  If this happens, private key custody becomes an important issue.  Being decentralized means possessing the private keys.  As FOMO and news attention comes to Bitcoin, so does unwanted attention, like hack attempts.  Those are most prevalent during bull runs.  Stay vigilant on that.  We are just reminding!

Neutral ATM buys and sells Bitcoin as little as $20 at a time!  You do NOT have to buy an entire Bitcoin.  Neutral ATM is here to get everyone off of zero Bitcoin.  


Give Neutral ATM a try.  We have low rates, convenient locations and we are expanding. Contact Neutral ATM, we will answer all your questions about Bitcoin and using our ATM machines. Find a Neutral ATM Bitcoin machine location near you.