Bitcoin Not Crypto The best ways to store your Bitcoin
Jan 26, 2025
Dive into the world of Bitcoin ownership and the vital role of controlling your private keys. Explore the security dynamics of public vs. private keys and the risks of sharing sensitive information. Discover various storage options, from software to hardware wallets, and learn essential self-custody practices. The discussion highlights the significance of conducting test transactions and the importance of safeguarding your recovery phrases. Gain insights into practical custody solutions tailored for newcomers, ensuring a well-rounded understanding of secure Bitcoin practices.
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Bitcoin Ownership
- Bitcoin is a public ledger with public addresses.
- Private keys represent ownership and the ability to move coins.
Not Your Keys, Not Your Coins
- Understand Bitcoin's nature: It's not stored in wallets, but on the blockchain.
- Your private key unlocks your Bitcoin; without it, you don't own your coins.
Foundry's Bitcoin
- Foundry's public address holds a large amount of Bitcoin visible to everyone.
- This demonstrates Bitcoin's security as nobody can access it without the private key.