198 sats \ 3 replies \ @Spartan 11 Jul 2022 \ on: Which cold wallet is the best for hold BTC? bitcoin
There is a tremendous amount of debate around this topic. Between multi-sig, single-sig and wallet MFG's.
That said, I am a big fan of keeping it simple. Get yourself a Coldcard (purchased directly from Coinkite), and pair that up with Sparrow Wallet & your own node.
Use a standard 24 word seed phrase + passphrase and put it on metal. Not a fan of splitting, encrypting or anything else with the seed phrase, as it becomes a point of failure and most Bitcoin is lost due to user error.
I am also a fan of storing the seed phrase twice on metal and securing it in geographically different locations. You should load the initial seed with some BTC as a decoy and watch it in case it ever moves.
Multi-sig is great, but it is complex if you don't know what you are doing and could cause you to lose your bitcoin if you mess it up. Going that route, I would recommend using a service such as Unchained Capital or Casa. I personally have experience with Casa and their service is great!
Practice setting up your wallet, whichever one you get. Generate your seed phrase, store it, send some sats to and from the wallet then blow it away. Restore the wallet from your seed phrase, and you will be confident in the event that you need to do it again.
Note: the 24 word see phrase should never be stored online or typed into a computer of any kind. It can be used to restore you wallet regardless of MFG, hot, cold or otherwise.
Take your time, and check out BTCsessions on youtube if you want solid tutorials for almost any hardware wallet.
You should load the initial seed with some BTC as a decoy and watch it in case it ever moves.
Could you explain this part any further?
reply
Of course!
So in a setup where you use a standard 24 word seed phrase + passphrase, you are creating a new "wallet" with each passphrase (you can make as many as you want). So, in this instance the thought process is as follows:
Wallet #1: Base 24 word seed phrase.
This is the least secure of them all, because if your seed phrase was compromised it would be the easiest to access.
Wallet #2-Infinity: Base 24 word seed phrase + passphrase.
These are the more secure layers of your seed phrase (keys). If your 24 word seed phrase is compromised, you still have the passphrase protecting the funds in these wallets. There is no way to know whether or not a passphrase is being used on a seed, so typically the attacker would either move on or try to brute force the seed phrases.
With those things in mind, the idea is to create some plausible deniability. So on Wallet #1, you should store some funds. That way if your keys are compromised, the attacker may think they got your whole stack. You could then sweep the funds from your Wallet#2 (protected by passphrase) off those keys entirely and re-secure your stack.
The decoy stack also allows for you to watch that parent wallet on the base 24 word seed phrase. So if you see any movement on it that is not your movement, then you can sweep and secure any held under a passphrase.
Keep in mind, its good to make the parent stack big enough and with enough activity to make it seem believable. Moving like 50k sats to it one time will not be convincing to anyone. Plus, in all actuality, those funds should remain secure under normal circumstances. There is nothing inherently insecure about the 24 word seed phrase, outside of the fact that the seed phrase exists in the physical world and could potentially be compromised if not secured properly or exposed via coercion.
reply
Мой метод хранения.1. Напишите на бумаге свое имя и фамилию или ещё что нибудь.. 2.Удалите повторяющиеся символы. 3.Разбейте все по два символв. 4. Возьмите приватный ключ в HEX виде и поменяйте в нем символы как в парах. Если такого символа нет то не меняйте его. 5. Эту комбинацию храните на бумага, почте, rq коде. Вы всегда востановите свой приватный ключ.
reply