Bitcoin Security Guide, Hardware Wallet and Metal Backup

Bitcoin Security Guide

Bitcoin self-custody is much like learning to drive a car—no one starts on the highway! You begin slowly, perhaps in a parking lot, progressing bit by bit. Driving is one of the riskiest activities people engage in, yet most eventually master it. Taking responsibility for your safety and that of others is an essential life skill. Similarly, if you can learn to drive, you can also learn to hold Bitcoin securely, free from counterparty risk!

  1. KISS: Keep it simple, stupid! Don't risk losing your Bitcoin due to unnecessary complexity.
  2. We are still early! Don't feel left out—it’s never too late to start stacking sats. Purchase Bitcoin through ethical, preferably non-custodial brokers like: BullBitcoin.com, Strike.me, Cash App, River.com, and Relai.app.
  3. Learn The 10 Commandments of Bitcoin Self-Custody.
  4. Listen to this podcast episode to understand the basics of self-custody.
  5. Get a COLDCARD Hardware Wallet. Here’s how to set it up.
  6. Get a SEEDPLATE Bitcoin Metal Backup. Learn how to use it. Paper backups and electronics are susceptible to fire and damage—metal backups are far more reliable.
  7. Redundancy matters. Create multiple encrypted MicroSD backups (at least two) and store them in geographically separated locations. Learn how to do this here.
  8. Passphrases can boost security, but they add complexity. Learn how to use passphrases and ensure you have a metal backup for the passphrase. Understand what an Extended Fingerprint (XFP) is.
  9. Test everything!
  10. Choose a reliable software wallet. Recommended options include:

    Other tools to explore:

    • TAPSIGNER + Nunchuk: A tap card hardware wallet that works well for travel or spending.
    • Bitkey: A simple hardware and app solution. Note it is proprietary and not seed-compatible.
  11. Be cautious of advice from random sources online suggesting complex setups with laptops, Raspberry Pis, or old phones. Such setups can lead to mistakes and loss. Instead, listen to this podcast and explore this website.
  12. Bonus redundancy: Keep a backup of the last known working version of your chosen software wallet. This can be critical if the wallet becomes abandonware or if stakeholders need assistance in the future. Follow tools like the BinaryWatch.org bot and learn to check signatures via BitcoinBinary.org.
  13. VERY IMPORTANT! Test small amounts of Bitcoin for both deposits and withdrawals. Familiarize yourself with the process and test backup recovery before depositing substantial amounts.
  14. For web services like exchanges, never use SMS-based 2FA, as it’s vulnerable to SIM-swapping. Instead, use apps like Google Authenticator, and TURN OFF cloud backups to reduce risk. Use a unique email address without personal details (e.g., blabla@gmail.com instead of name.last@gmail.com). We also recommend using iPhone over Android, Mac over Windows, and hardening your cloud settings for added security.
  15. Keep learning. There are many helpful videos and podcasts to expand your knowledge. As you grow more confident, consider advanced setups like multi-signature wallets to enhance security.
  16. Finally, check out this step-by-step guide by Matt Odell to set up a robust Bitcoin custody solution.