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Streamlining Bitcoin Funds Access – Access funds anywhere without online wallets

Streamlining Bitcoin Funds Access – Access funds anywhere without online wallets

The amazing thing about deterministic wallets is that you can access your funds and TX history in real time on all your devices, from your laptop to your phone and tablet. As I have a Bitcoin debit card this means i can move Bitcoins from my hot wallet which is the wallet streamlined from any of my devices, without using online wallets so you remain in control of your keys yet have freedom.

Electrum is the example which I use here. You can install the application on your desktop and import the same seed onto your mobile phone and tablet. This allows me to access my Bitcoin funds anywhere and transactions made on one of them will show on all of them. This can increase chances of seed becoming compromised as the mobile application only allows a small PIN rather than a passphrase, but this is fine for day to day funds access as you can top up your ‘hot’ streamlined wallet from other wallets as needed.

This enables you to access your Bitcoins on the go. As i travel, if i ever became stuck and I have my backup Bitcoin debit cards on me, I could instruct my partner to move Bitcoins to this wallet from home so i can get at them. You can further streamline your funds by importing your hardware wallet seed into another hardware wallet such as the LEDGER HW.1. This can be kept on a set of keys and you can safely use it in a cybercafe as you do not need to trust the PC you plug it into, or you can use it on your phone. The second ledger wallet also acts as a backup of your seed in and of itself. Just remember your PIN.

This is a way you can streamline your funds for access, anytime, anywhere without depending on your online banking service or an online wallet! For travelers a set up like this i would recommend. Carry a Wirex Debit card or two in different areas of luggage which would enable you to get your coins to Fiat quickly.

The only point your coins touch an online wallet is during the Fiat conversion using Wirex. The seed on multiples also acts as a backup in and of itself.

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