Bitcoin Security Guide, Hardware Wallet and Metal Backup

Bitcoin Security Guide

  1. KISS, Keep it simple stupid! Don't screw yourself out of your Bitcoin due to complexity.
  2. Learn The 10 Commandments of Bitcoin Self-Custody.
  3. Check out this Podcast Episode about the basics of self-custody.
  4. Get a COLDCARD Hardware Wallet, this is how you set it up.
  5. Get a SEEDPLATE Bitcoin Metal Backup., this is how you use it. Remember paper backups and electronics can burn and break. [If you are ready to take this one step further, you can split this backup in two parts very easily with SeedXOR.]
  6. Make extra encrypted backups, at least two more and store them in geographically separated locations. This is how you set up an encrypted MicroSD backup.
  7. Passphrases are great security improvement, but it's one more thing to have to backup. Here is how you set up a passphrase. Make sure that if you use a passphrase, you have a minimum of one metal backup of the passphrase too.
  8. Test everything!
  9. Now choose a software wallet, I recommend:
  10. Did some random person on twitter tell you do something complicated with Computers, Laptops, Raspberry Pis or Old Phones? Listen to this podcast and checkout this site
  11. Bonus, I also recommend keeping a backup of the last known working version of the software wallet you chose. Could come in handy in case the wallet becomes abandonware and/or you're no longer around to help the stakeholders. Follow this Twitter bot and learn to check signatures bitcoinbinary.org!
  12. Test a small amount, both deposit and spend. Become comfortable! And make sure to test backup recovery before depositing real money!
  13. Keep learning – there are lots of videos and great Podcasts. As you acquire more knowledge you can increase the security and complexity of your setup based on your needs.
  14. Finally, check out this step-by-step guide on how to set up the whole bitcoin custody solution by Matt Odell