Don't Make These Fatal Mistakes (Bitcoin Self-Custody)

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In this video, I discuss common mistakes that beginners make, including sharing their recovery seed with scammers online, and thus getting their Bitcoin stolen. Anyone who asks you for your 12-word or 24-word seed is a scammer.

It's a good idea to use different software to connect your hardware wallet to a node.

You could just use Trezor plus Trezor Suite
Or Blockstream Jade plus Blockstream Green
Or Ledger plus Ledger Live (if you don't value security or privacy)

But then you are trusting the same company with your hardware wallet and software. I think it's better to use:

Trezor plus Sparrow
Jade plus Sparrow
Coldcard plus Sparrow

That way both the hardware wallet and Sparrow need to collude to hurt you.

My favorite hardware wallet is still the Coldcard. Blockstream Jade is also great and available at a lower price point. Trezor is probably still fine, but it is a company that supports scammy altcoins. That's a huge moral compromise that they made. If Trezor dropped all altcoin support, I would start recommending them again.

To store your seed (12 word backup), the best practice is to stamp it into stainless steel or titanium and then store it inside of a tamper-evident bag in a secure location.

The path to self-sovereignty is difficult at first, but gets easier over time.

Not investment advice! Consult a financial advisor.

Watch these videos first:
   • Should You Convert Your Ledger To A Paperw...  
   • How To Move Your Bitcoin From Ledger To Jade  
   • My Favorite Bitcoin Desktop Software (Spar...  

BIP39 word list:
https://github.com/bitcoin/bips/blob/...

Seedplate review:
https://jlopp.github.io/metal-bitcoin...

Metal Bitcoin Seed Storage Reviews:
https://jlopp.github.io/metal-bitcoin...

A Treatise on Bitcoin Seed Backup Device Design:
https://blog.lopp.net/a-treatise-on-b...

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#hardwarewallet

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