What Is Self-Sovereignty & How Can You Achieve It?

Sovereignty is a word most people associate with nations, as in sovereign states, but you can also increase your independence from the state and corporations to become a sovereign individual. 

Thanks to Bitcoin, that’s now easier than ever. 

Read on to find out what self-sovereignty is, why it’s important, and how you can use Bitcoin to achieve self-sovereignty and become more independent from the state and corporations. 

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What Is Self-Sovereignty?

Self-sovereignty is a broad concept where individuals have the ultimate authority and control over their lives–including finances and personal data–without relying on external authorities such as governments, corporations, or other institutions. 

Self-sovereignty focuses on three key pillars: 

• personal autonomy; 
• Individual freedom; 
• and responsibility. 

Sometimes, it’s being confused with self-determination. The difference between self-determination and sovereignty is that the former is more about your freedom to choose and act independently mostly on a group level. Meanwhile, by being self-sovereign you have actual control over yourself and your life without any external power lording over you.

‍Self-sovereignty can be achieved by ensuring your independence and taking back control in multiple areas.

For example, financial sovereignty is a key requirement to be self-sovereign. It means that you’re independent from the traditional, top-down, heavily centralized financial system, which is often governed by unelected people. 

Bitcoin is arguably the best form of money to ensure this type of sovereignty and help build a fairer and more independent financial system. 

Moreover, by using bitcoin, you can increase your financial privacy, which is another key component of being self-sovereign. Sovereign individuals are generally privacy-focused, as they want to protect their data from governmental institutions or tech giants that harvest and abuse their personal data. 

Also, self-sovereignty aligns with the ideas of reduced government intervention while advocating for personal liberty and decentralization, which brings more freedom and, subsequently, more responsibility into your hands as an individual. 

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Why Does Self-Sovereignty Matter?

Self-sovereignty matters because it strengthens your independence and security, helping reduce risks associated with third parties, be it a government or a large corporation that controls your money or data. 

This becomes even more important today, as surveillance and control by the state are increasing. 

Thanks to decentralized technologies such as Bitcoin, self-sovereignty is a growing movement that offers you the ability to opt-out from the current system.

Especially in the context of monetary policies, having the option to be in control of your money is crucial in achieving self-sovereignty. 

Bitcoin helps with exactly that.

Another critical aspect of self-sovereignty is the ability to fight surveillance and censorship. 

When you protect your privacy and don’t depend on centralized platforms and their censorship policies, you gain the power to express your views and defend your ideas more freely and securely, which is key to a well-functioning society. 

Therefore, as technology enables greater individual control over identity, finance, data, and more, embracing self-sovereignty can protect your freedom and security in an unpredictable world.

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How Can You Achieve Self-Sovereignty (with Bitcoin)? 

‍Bitcoin is now the most popular and powerful tool to achieve self-sovereignty by helping you take back control of your money. 

No central authority controls it, it’s not backed by a state or any other large institution, and is not abusing the financial system to its advantage, making it the most sovereign form of money available globally. 

Here’s how you can become more self-sovereign by using bitcoin:

• Self-custody your BTC: To store your funds, use a non-custodial wallet that allows you to control your private keys to your bitcoin. Best, if it’s an airgapped wallet. Also, secure and back up your seed phrase.

• Protect your privacy: Learn how you can buy, store, and use your bitcoin in a most private way so no one knows how much BTC you have and how you use it, which increases your security substantially.

• Strengthen your personal cyber and physical security: Learn and use techniques that would make your online presence more secure and help increase your physical security, which helps protect your BTC as well. 

• Run a Bitcoin node: Besides contributing to the decentralization of the whole Bitcoin network, running a node will also increase your independence from third-party Bitcoin platforms and improve your privacy.

Whenever you need help with any of this, book an appointment with The Bitcoin Way and we’ll find a solution that works best for you.

Meanwhile, by taking the steps above you’ll be able to enjoy all the benefits of Bitcoin and self-sovereignty with a more peaceful mind: 

• Bitcoin is built to last: The Bitcoin network has never been hacked and has an uptime of nearly 100%. 

• Permissionless money: Bitcoin is the only money you can spend however you want without asking for permission, which is key for a sovereign individual.
  
  
• Borderless money: This is the backbone of self-sovereignty in a global economy that strengthens your financial freedom.
  
  
• Protection from fiat debasement: By owning bitcoin, you can opt out of the current system of fiat money debasement as central banks keep printing money.

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Takeaway

Self-sovereignty is gaining popularity as the ultimate form of personal independence. 

By achieving this, you can become more independent in controlling your life in multiple areas, including your finances, without relying on any third parties.

Bitcoin is fundamental for achieving this. By embracing its core principles of self-custody, and decentralization, and benefiting from censorship-resistant, permissionless, and borderless transactions, you can establish genuine financial autonomy and strengthen your self-sovereignty. 

Whether through individual financial choices or building Bitcoin-powered businesses, the self-sovereignty movement continues to grow. It can empower you to operate outside the traditional financial system and embrace the freedom and all the benefits that come with being your own bank.

Book your free initial 30-minute consultation with our experts to take your first steps towards self-sovereignty. 

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FAQs

What is individual sovereignty?

Individual sovereignty means everyone has ultimate authority over their own life, body, and decisions. It's based on the principle that people possess inherent rights and freedoms that others or governments shouldn’t violate. This includes self-ownership, autonomous decision-making, personal responsibility for one's choices, and appropriate limits on external authority. 

How do we express self-sovereignty?

We express our self-sovereignty by becoming independent from third parties, be it a government, central bank, or a large corporation that harvests our data. Bitcoin is a key tool in ensuring financial self-sovereignty, which is crucial in becoming a sovereign individual. 

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