Last Updated on June 21, 2021 by Haven Direct
- KISS, Keep it simple stupid! Don’t screw yourself out of your Bitcoin due to complexity.
- Learn the 10 commandments of self custody.
- Get a COLDCARD Hardware Wallet, this is how you set it up.
- Get a SEEDPLATE Bitcoin Metal Backup., this is how you use it.
- Make extra encrypted backups, at least two more and store them in geographically separated locations. This is how you setup an encrypted MicroSD backup.
- Pass phrases are great security improvement, but it’s one more thing to have to backup.Here is how you setup a passphrase. Make sure that if you use a passphrase, you have a minimum of one metal backup of the passphrase too.
- Test everything!
- Now choose a software wallet, I recommend:
- 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 abandon-ware and/or you no longer around to help the stakeholders.
- Test a small amount, both deposit and spend. And make sure to test backup recovery before depositing real money!
- Keep learning, lots of videos here and great Podcasts, as you acquire more knowledge you can increase the security and complexity of your setup based on your needs.
- Finally, check out this step-by-step guide on how to setup the whole bitcoin custody solution by Matt
