The Bitcoin Way Podcast

What I Got Wrong About Bitcoin Self-Custody | Bitcoin Banter

Oct 10, 2026
Guest
Bitcoin Katie
Bitcoin Katie, an educator and creator focused on self-custody and financial sovereignty, shares hard-earned lessons from exchange failures, Celsius, FTX, and a costly seed phrase mistake. The conversation explores hardware wallet risks, collaborative custody, multisig, inheritance, privacy, and whether technical skills are necessary. They also unpack how running a Bitcoin node changes the journey toward independence.
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ANECDOTE

Katie Confused Bitcoin With The Exchange

  • Bitcoin Katie first treated Bitcoin like a share and nearly left it on an exchange.
  • Coingate’s bankruptcy, followed by Celsius and FTX, eventually pushed her toward self-custody.
ANECDOTE

Mike Lost Bitcoin Through A Phone Seed

  • Mike stored his seed phrase in a phone password app, allowing an attacker to sweep every deposit.
  • Testing only small transfers limited the loss, but exposed how dangerous casual setup can be.
ANECDOTE

Katie Photographed Her Seed Phrase

  • Bitcoin Katie photographed her seed phrase and kept the image on her phone for convenience.
  • Later learning that photos and digital storage compromise seeds convinced her to seek structured guidance.
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