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Stephan Livera Podcast
Don’t Lose Your Coins with NVK (SLP526)
Nov 19, 2023
Bitcoin security expert NVK joins Stephan Livera to discuss preventing coin loss, securing cryptocurrency keys, transitioning to hardware wallets, upgrading to multi-signature technology, self-custody tools like the cold card, QR codes in the bitcoin ecosystem, the use of mini-script in Bitcoin security, limitations of multi-sig, transaction fees, the future of Bitcoin and its potential impact on fiat currency and gold.
54:45
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Quick takeaways
- Properly securing Bitcoin through self-custody and hardware wallets like the Coldcard minimizes the risk of loss due to poor security practices.
- Educating oneself about Bitcoin security, including offline storage, backup procedures, and reputable sources, is crucial for safeguarding Bitcoin.
Deep dives
Importance of Proper Bitcoin Security
The podcast episode discusses the importance of properly securing Bitcoin and highlights the risks of custodial solutions. It emphasizes the need for self-custody and the use of hardware wallets like the Coldcard. The guest shares insights on recent incidents where individuals lost Bitcoin due to poor security practices, such as storing seed phrases on a password manager. The episode advises against using general-purpose computers for Bitcoin storage and emphasizes the benefits of hardware wallets in ensuring better security.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode