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The Safest Way To Store Bitcoin (Step By Step)Setting up a Bitcoin cold storage wallet is straightforward. 1. Create an offline Bitcoin address to receive your bitcoin. 2. Send bitcoin to the generated. A third party holds your crypto for you, either through cold (offline) storage, hot (online) storage, or a combination of the two. When you buy coins from. You can store cryptocurrency online as well as offline. Offline storage options include cold storage wallets and paper wallets. These days.