Flexcoin the bitcoin bank will be launching over the weekend the first user defined cold storage facility for the bitcoin online currency.
The users will be able to define what they want sent to cold storage. Meaning if a client has 10 bitcoins with flexcoin, he can specify that he wants 4 of them sent to cold storage. This effectively puts them off line and inaccessible.
Cold Storage is roughly akin to sending your bitcoins to a computer that isn’t online, hence the threat of any online hacking is effectively nill as it’s very difficult to hack a computer that is unplugged.
What makes cold storage with flexcoin so alluring is that all bitcoins in cold storage receive discount payments the same way they are with the normal flexcoin service. Flexcoin has built a secure way to bring them out of cold storage, as they are processed the next business day subjecting them to human review before being released.
This allows individuals to safely store their bitcoins, and earn payments when they are being stored. This is a first for the bitcoin community. All the details will be released on flexcoin over the weekend!