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Getting used to having all savings in self storage
450 sats \ 6 comments \ @stack_harder 8h bitcoin
I would say at the moment, at current fiat levels, I am comfortable with having all my savings (which are btc), on my hardware wallet but in the past, the idea of having even a few thousand on a hardware wallet would have seemed unfathomable (coming from a UK bank perspective vs like a Russian bank that i wouldn't trust for shit).
IMO, having it on a cex would be far scarier with their random questions and interrogations.
I often wonder if stackers of physical gold ever feel like shitting themselves when they have a ton stashed away in their basement.
My question to you stackers is, did it take you a while to adjust to having a fat stack (or even a modest one) completely under your own control? Or did you take to it like a duck to water?
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61 sats \ 1 reply \ @DarthCoin 8h
Always use the 3 levels stashing: hold, cache, spend. Not just be your own bank, but THINK like a bank https://darth-coin.github.io/beginner/be-your-own-bank-en.html
Then spread your stash in many different wallets
yes are missing some apps, but those that are not yet out of alpha phase...
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0 sats \ 0 replies \ @stack_harder OP 8h
all i do is stack at the, and have sats in a custodial for now, but for the 'vault' is there any benefit to having different hardware wallets, or is one ok but with different addresses being used ?
i do also want to start running a node, i don't know if i have the technical chops to manage a lightning node tho
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0 sats \ 0 replies \ @grayruby 5h
It's second nature now and the stack wasn't that fat when I started storing all my bitcoin on hardware wallets but that first transaction from cex to cold wallet was nerve racking. I did a small test transaction first but that didn't seem to alleviate the anxiety much.
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0 sats \ 0 replies \ @Bitcoiner1 6h
A great power comes with a huge responsibility.
The more you know about self custody, the more comfortable you feel.
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0 sats \ 0 replies \ @Solomonsatoshi 7h
Still have some in the fiat bank system but once I took the leap and moved Most of my liquid savings to Bitcoin I felt great and have seldom been worried about security. Invested a little time into learning how to build and manage your own cold storage which is IMO superior to any third party provided HW.
https://electrum.readthedocs.io/en/latest/coldstorage.html
IMO the biggest gain you make when moving to Bitcoin is having direct custody over your savings. If that's not important to you then maybe Bitcoins not for you.
Currently operate three tiers- 1 cold storage - 95% 2 hot - 4% wallet for cashflow 3 LN 1% wallet/s for everyday spending on LN where possible.
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0 sats \ 0 replies \ @anon 8h
nice try fed
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