Replies to post #462 on Grayscale Bitcoin Trust (GBTC)

[FooBarAndGrill]

re. "Non FDIC Insured"
That's kind of the point isn't it? I mean good luck collecting when SHTF.

[TakingProfits]

You see, thats the problem. Your not gonna find a company like that here in the States. I know these guys are working towards that end goal but you never know with these kinda companies. Thats why you have to play it safe.

Since your able to trade in Bitcoin as your base currency, its VERY easy to take it out whenever you want and store your Bitcoin how you see fit (cold storage is always where mine goes). I have been using SlmpeFX for over a year now with no problems and have run some large deposits + withdrawals through them with 1 issue yet.

At the end of each day (or when I am done trading) I always withdrawal ALL my money to my cold storage wallet. Then when I am ready to trade again, I simply send the BTC instantly back to the wallet for trading purposes. With a proper strategy in place, there are plenty of ways to reduce potential problems that could arise. Given were dealing with Bitcoin and not fiat USD, its much easier and quick to move money in and out as a protection plan of sorts.