00:02 hey everyone a friend reached out to me
00:03 yesterday because their coinbase account
00:05 had just been hacked uh they did
00:07 everything right is as well as uh I can
00:10 understand it and they can understand it
00:11 they walked me through their security
00:13 protocol they had two-factor
00:14 authentication set up but somehow
00:17 someway hackers either got access to
00:20 their password manager or they got
00:22 access to their uh you know got
00:26 something plugged in to the ecosystem
00:28 that would allow them to get text
00:29 messages with the two-factor
00:30 authentication code we don’t know I
00:32 don’t know they don’t know um anyway but
00:36 hopefully they will get their money back
00:38 uh coinbase uh tried to uh to stop the
00:42 withdrawals and it looks like they did
00:44 so hopefully you know fingers cross say
00:47 a prayer you know that they will get
00:49 their funds back I think there’s a you
00:51 know good very good chance they will get
00:53 their funds back so that’s very good and
00:54 coinbase said they caught it in time
00:56 that they should be able to return those
00:58 funds so I think there’s a you know
00:60 close 100% chance they will get their
01:01 funds back but that whole L deal is not
01:04 something anyone wants to go through you
01:06 do not want to wake up in the morning
01:08 reach over grab your phone and realize
01:11 that you have an email one email that’s
01:13 saying says you just sold all your
01:15 Bitcoin to US dollar a second email
01:17 saying you just added a bank account
01:20 that you don’t recognize to your
01:21 coinbase account a third email saying
01:23 you just added a second bank account you
01:25 don’t recognize to your coinbase account
01:28 a fourth email saying you have with
01:30 withdrawn all of your funds to these two
01:32 bank accounts and all those email alerts
01:35 uh coming from coinbase because the
01:37 account got hacked um and then you log
01:39 in and yep right there it is like you
01:42 know the Bitcoin was Li liquidated and
01:44 the withdrawals have started now again
01:46 coinbase looks like they were able to to
01:48 stop it in time to to block the
01:50 withdrawals before they actually
01:52 processed but that’s just not something
01:54 anybody wants to have to deal with so
01:56 what is the answer to all that well glad
01:58 you asked that is why bitkey exists bit
02:02 keyworld bit keyworld the link is in you
02:06 know the video description so bitkey
02:08 helps you secure your Bitcoin and it
02:10 does that in two ways uh one it keeps H
02:13 hackers and scammers from getting a hold
02:14 of it but also and very importantly it
02:18 also puts your Bitcoin 100% in your own
02:21 control which means nobody can block you
02:24 from sending transactions not only can
02:26 your Bitcoin not be taken away by Hammer
02:29 uh scammers and hackers also it cannot
02:33 be taken away by you know people who
02:36 accuse you of wrongdoing when you didn’t
02:38 do it or you know you can’t have your
02:40 account Frozen or you can’t have you
02:42 know your account shut down arbitrarily
02:44 so it just it just lets you be your own
02:48 bank and it’s just super important that
02:50 if you have Bitcoin and you have a
02:52 decent amount of Bitcoin it is
02:54 absolutely vital in my opinion that you
02:57 have that Bitcoin in your control if
02:59 somebody calls me and says something bad
03:01 happened if it was on if their Bitcoin
03:03 was on bit key I know we’re good there’s
03:06 just there’s no way a hacker or a
03:07 scammer is going to get your Bitcoin on
03:09 bitkey unless they sweet talk you into
03:12 sending it to them which is obviously
03:14 very difficult to do it is much more
03:16 difficult to sweet talk someone into
03:18 sending their Bitcoin to a scammer than
03:20 it is to compromise an account or to
03:23 trick somebody into giving access their
03:25 to their account so with bitkey it’s
03:27 very clear if you’re sending the Bitcoin
03:29 somewhere else it’s very clear that’s
03:31 what you’re doing um additionally I get
03:33 questions uh now and then give me one
03:35 second
03:39 here about where to store a bit key
03:42 device so if you have enough Bitcoin
03:45 that sort of it really matters and you
03:47 want to sort of make it harder for
03:48 somebody to get to it I recommend you
03:50 store it somewhere safe and secure like
03:53 the safe a safe deposit box at a bank
03:55 most banks will give you a safe deposit
03:57 box for something like $30 a year that’s
04:00 like $2 maybe $3 a month to have a safe
04:03 deposit box and the benefit of a safe
04:06 deposit box is your bit key is not with
04:08 you now you can set up a transfer limit
04:10 that you can uh transfer without your
04:12 bit key so for example you can say look
04:15 you know Le let’s use a random number
04:17 let’s say you have $110,000 a Bitcoin
04:20 and let’s say that the most you would
04:21 ever want to transfer at one time is
04:25 maybe $500 or $1,000 well you can
04:28 actually set up your bit key with a $500
04:30 daily transfer limit that you know where
04:33 you don’t where you can transfer that
04:34 without having the bit key device that
04:36 way even though bit key is essentially
04:39 impossible for scammers or hackers to
04:41 get a hold of if somehow something bad
04:43 happens the most you would ever lose
04:45 like let’s say somebody holds you up at
04:47 a gas station and says send me Bitcoin
04:49 and hand me your wallet and I’m going to
04:51 take your money or whatever well the
04:52 most you can possibly send them with
04:55 your phone is
04:56 $500 and if you need to move more than
04:59 $500 you can either go get your bit key
05:02 from a safe deposit box at a bank or
05:04 from a friend’s house in a gun safe or
05:08 somewhere else that’s super secure
05:09 that’s just not where you are um that
05:12 helps for a couple reasons one if
05:14 somebody calls you out of the blue and
05:15 tries to sweet talk you claiming your
05:17 accounts been hacked and you need to
05:19 move your funds over to a secure account
05:21 or they claim they’re from coinbase and
05:23 they want you to move your funds quote
05:26 back to coinbase which of course just
05:28 means they’re scamming or in you you
05:31 have the ability in that situation to
05:32 say well I can’t do that the most of my
05:34 $110,000 I can move is
05:36 $500 and uh otherwise you have to go to
05:39 the bank and get your bit key and all
05:40 that and in the process of doing that
05:42 you’re probably going to have the bright
05:43 idea wait a second I might be talking to
05:45 a scammer like this is crazy or if it’s
05:48 a night or a weekend which is when uh
05:50 scammers typically call people um it’s
05:53 like well I can’t even go get my bit key
05:55 because it’s at a safe deposit box and
05:57 the bank is closed so there’s a lot of
05:59 ways to secure your wealth bit key is by
06:03 far the best way to do it and especially
06:05 if you keep your bit key in a safe
06:07 deposit box at a bank or at a friend’s
06:09 house or something like that then it’s
06:11 just one extra layer of security because
06:14 even you can’t get a hold of your
06:16 Bitcoin immediately it requires you to
06:19 travel somewhere now in my case I have
06:22 an extremely elaborate setup that
06:24 involves dogs and armed guards and a
06:26 bunch of crazy stuff that uh I’m not
06:28 going to go into so you can go crazy
06:31 with your setup uh with you know just
06:33 making it very very very difficult for
06:36 you yourself to get access to your own
06:38 bit key and forcing someone who wants it
06:40 to uh run a gauntlet of you know
06:44 everything from armed concealed carry to
06:46 armed guards to dogs to you know
06:49 biometric identification like you can
06:51 really sort of get carried away with it
06:53 but uh for the average person you know
06:55 that is just trying to secure their bit
06:57 their Bitcoin it’s super simple here’s
06:59 the bit key device
07:00 if you keep it at your house it’s safe
07:02 from scammers and hackers if you keep it
07:04 somewhere other than your house it’s
07:06 even safe for people who break in while
07:08 you’re at home and if they break in
07:10 while you’re not at home it doesn’t
07:11 matter because the bit the bit key
07:12 device has a fingerprint reader on it
07:14 anyway so they can’t do anything with it
07:16 so uh scammers and hackers are
07:18 everywhere way more prevalent you have
07:21 to worry about scammers and hackers way
07:23 way way more than you have to worry
07:24 about anything else with your Bitcoin um
07:28 I would say scammers and hackers are by
07:30 far the number one threat to bitcoin
07:32 right now way way way way way way way
07:35 down the list is that you might get your
07:37 account Frozen if you’re storing your
07:39 Bitcoin at coinbase or gemini or Kraken
07:42 or any of the other exchanges and then
07:45 way way way way way way way down the
07:47 list below that is that there’s any sort
07:49 of a a threat of a physical attack or
07:51 somebody holds you up at a gas station
07:53 or you know whatever it is that people
07:55 do to steal wallets these days in the
07:57 real world um but bit keyth thought of
07:59 all that you can set that daily spending
08:01 limit where you say look if I need if
08:03 you got $10,000 Bitcoin you can move you
08:05 can set it say I can move $500 a day if
08:08 you don’t ever want to go to the bank
08:10 you can move your entire $10,000 over
08:12 the course of 20 days but if somehow
08:15 something bad happens and you get again
08:17 held up at a gas station even though
08:18 that’s not going to happen to you then
08:20 the most you can possibly transfer is
08:22 $500 so the vast majority of your
08:25 Bitcoin is safe because you can only do
08:27 that much a day and let’s say you have a
08:29 car repair and you need to liquidate
08:30 $1,000 of Bitcoin to do it great it only
08:33 takes you two days to do that you
08:35 transfer $500 a Bitcoin and then you
08:37 wait 24 hours and as soon as you pass
08:39 one minute past 24 hours you can
08:42 transfer another $500 so bit key is a
08:45 very brilliant way of making it your
08:47 Bitcoin very secure making it easy to
08:50 get to whatever amount you want to be
08:52 able to get to um you know on a daily
08:55 limit basis but requiring you to have
08:58 physical access to touch the device to
09:00 move a lot of Bitcoin again it’s just a
09:02 brilliant way of securing your Bitcoin
09:04 from scammers and hackers and as long as
09:08 your Bitcoin is not your bit key is not
09:10 with you and obviously you should not
09:11 carry it with you on your person because
09:13 the whole point is you don’t do that so
09:15 it should not be in your car it should
09:16 not be on your person so that protects
09:18 you from when you’re out and about
09:20 because you literally don’t even have it
09:21 with you and if you’re worried if you
09:23 live in a you know bad part of town and
09:25 you’re worried about getting held up at
09:26 home great then just keep your bit key
09:29 not at home keep it in at a you know at
09:31 a friend’s house or at a you know if one
09:33 of your friends is super into the Second
09:35 Amendment and would love the chance to
09:37 uh to intercede on your behalf with a
09:39 bad guy if they got a gun safe keep it
09:42 there or keep it just somewhere a safe
09:45 deposit box at a bank is a great
09:46 opportunity or a great option because
09:49 safe deposits at a bank require you to
09:51 come in show ID and uh obviously banks
09:54 have armed security cameras and all that
09:56 sort of thing so please secure your
09:58 Bitcoin with bit ke it is worth it it’s
10:01 only
10:01 $150 and it absolutely POS positively
10:04 guarantees that your Bitcoin is not
10:07 going to get scammed and it’s not going
10:08 to get hacked and it’s just all around
10:10 way better to do that so happy Bitcoin
10:13 everyone and if you need help you know
10:15 with any of this please let me know I am
10:17 here to help and everything I do is
10:19 always free have a great day everyone
10:20 thanks
