Should You Hire a Bitcoin Consultancy?

Bitcoin can grant us more freedom. But only if we accept the responsibility to learn how to use it safely and effectively. It's a great example of lifelong learning as the Bitcoin rabbit hole runs deep, and there’s a lot to learn about Bitcoin. 

To make your Bitcoin journey easier, hiring a Bitcoin consultancy might be the right choice for you–no matter whether you're a complete beginner, or an already experienced Bitcoiner who wants to make sure that your coins are secure and you’re using Bitcoin the right way. 

Read on to learn what a Bitcoin consultancy–like The Bitcoin Way–can offer and find out when hiring a consultancy is the right option for you.

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What Is a Bitcoin Consultancy?

A Bitcoin consultancy is a company that helps individuals and businesses to use Bitcoin securely and effectively.   

A consultancy can help you with a range of Bitcoin-related matters, from setting up a secure non-custodial Bitcoin wallet and preparing an individual Bitcoin inheritance plan, to advising you on your mining setup and ensuring your personal cybersecurity setup mitigates the risk of anyone accessing your coins.  

Bitcoin consultants also offer training and education programs for individuals and businesses, while some consultancies, such as us at The Bitcoin Way, can even help you secure a residency in Bitcoin-friendly locations. 

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Who Can Use Bitcoin Consulting? 

Anyone who wants help securely buying and storing bitcoin, enhancing their level of financial sovereignty, or improving their existing Bitcoin knowledge can turn to a Bitcoin consultancy for help.‍

At The Bitcoin Way, we even offer a free initial consultation, so you can verify that our experts are the team you want to work with. 

Here’s a list of people who could benefit from working with a Bitcoin consultancy like The Bitcoin Way. In fact, these are the type of people we see reaching out to us the most: 

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Bitcoin HODLers

No matter whether you’re a complete newbie or someone who’s been HODLing bitcoin for a while, making sure you have a secure self-custody setup for your coins is essential. 

After all, it’s your money, and you should control it. 

But that also means you need to be your own head of security. The challenge is that not everyone is familiar with today’s self-custody best practices because simply buying a hardware wallet is often not enough to truly safeguard your bitcoin. 

A Bitcoin consultant can be a huge help if you’re unsure of the best way for you to store and secure your coins. 

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High-Net-Worth Individuals

If you’re a high-net-worth individual (HNWI) who holds a large amount of BTC, you need to add extra layers to your security setup, ensuring that you and your bitcoin portfolio are protected from various attack vectors. 

A professional Bitcoin consultancy can help with exactly that!

Additionally, a Bitcoin consultant can also help HNWIs with Bitcoin inheritance planning and implementing a specific solution to ensure your bitcoin gets passed to your dependents. 

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Privacy-Conscious Bitcoiners

If you care about financial sovereignty, privacy isn’t optional—it’s essential. Every “standard” Bitcoin transaction you make leaves a trace, and without Bitcoin privacy best practices, your transaction history can be pieced together by third parties. 

A Bitcoin consultancy can help you take control of your financial privacy by teaching you how to minimize your on-chain footprint, use Bitcoin in a way that reduces surveillance risks, and adopt tools like CoinJoin and smart UTXO management. 

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What Can a Bitcoin Consulting Company Help You With? 

Some Bitcoin consultancies specialize in specific topics, such as self-custody or bitcoin merchant acceptance, while others provide a wider range of services. They might include:

Self-Custody and Security

A Bitcoin consultancy will help identify and implement the most suitable self-custody setup, whether single- or multi-signature, while also assisting in improving it as new solutions are being constantly brought to the market by Bitcoin developers.

Privacy Best Practices

Bitcoin consultants will also help with privacy best practices by optimizing your on-chain footprint, educating you about UTXO management, and teaching you how to use different privacy tools, such as CoinJoin.

Bitcoin Transactions

A consultant will also teach you how to use a hardware wallet to make secure ‘airgapped’ Bitcoin transactions, save on transaction fees, speed up your transactions, and upgrade to the latest technologies when they become available. 

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The Pros & Cons of Hiring a Bitcoin Consultant

Like with anything, there are always pros and cons for important decisions, such as hiring a Bitcoin consultancy. 

Pros 

• Expert guidance: You’ll avoid common mistakes and security risks by working with a Bitcoin consultancy and having a reliable partner to discuss any questions that may arise.
  
  
• Personalized solutions: There is no one-size-fits-all solution to Bitcoin. Everyone has different needs and requires a tailored solution. A Bitcoin consultancy can create that solution for you.
  
  
• Time-saving: Instead of spending months researching and solving your problems, you can ask your Bitcoin consultant and save a lot of time.
  
  
• Stronger security: By speaking to a Bitcoin consultancy, you reduce the risk of falling victim to social engineering, inheritance mishaps, or losing bitcoin to hacks or simple mistakes. 

Cons 

• Trust issues: Choosing the wrong consultancy could expose you to risks. Be careful in choosing the right partner, and take your time or ask as many questions as possible and do your own research before engaging with a consultant.
  
  
• Cost considerations: As with any valuable service, Bitcoin consulting is also a paid service. Therefore, you need to take the fees into account when considering hiring a Bitcoin consultant, which, eventually, might save you much more money and time. You should pay close attention to any ongoing fees that can erode your Bitcoin stack or exit fees that some companies charge that may lock you into a service you no longer want to use.

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Is Hiring a Bitcoin Consultancy Right for You? 

To answer this question, first, you have to ask yourself: 

• Can I hold my bitcoin in a self-custody wallet without any worries? 
• Do I have a bulletproof backup plan, and are my private keys and seed words safely stored?
• Do I really use the best practices to safeguard my bitcoin and do I know scenarios in which my setup can be compromised? 
• Is my bitcoin privacy sufficient and how can I improve it? 
• What’s the best Bitcoin inheritance plan for my family and how can I implement it? 
• Do I have enough time and knowledge to learn all the Bitcoin intricacies on my own?

The answers will help you to understand whether you need to improve your Bitcoin practices and whether you want to do it on your own, or partner with a Bitcoin consultancy.

There are already many Bitcoin consultants available, with various degrees of expertise in one or another area. Therefore, choosing the right one will affect how secure you and your BTC are.  

If you’re looking for a partner with a strong focus on self-custody, cybersecurity, and individual solutions, such as residency programs and on-demand support, The Bitcoin Way is arguably your best solution. 

Book your free initial 30-minute consultation with The Bitcoin Way’s experts to discuss your Bitcoin needs.