The Bitcoin Standard Podcast 243. The Bitcoin Way to Secure Your Bitcoin
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Oct 15, 2024 Explore the best practices for securing your bitcoins, emphasizing the importance of self-custody and hardware wallets. Learn about navigating privacy challenges and enhancing online security with non-custodial solutions. Discover strategies to safeguard wallets against tampering and the reliability of various hardware manufacturers. Delve into ultra-paranoid security measures, including multi-signature setups and the benefits of offline devices. The discussion also covers cybersecurity risks in the digital age and practical tips for maintaining robust Bitcoin protection.
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Bitcoin Security Foundations
- Treat yourself as the head of security for your Bitcoin wealth and continuously update with the latest protocols.
- Use encrypted vaults for sensitive info, air-gapped wallets, run your own node, and get ongoing remote support.
Single-Sig Preferred Over Collaborative Multisig
- Prefer single-signature wallets with hardware like Coldcard, Foundation, or SeedSigner for most users.
- Use multisig only with trusted people, not third-party companies, to retain privacy and control.
Become an Advanced Bitcoin User First
- Start with single-sig and master the basics through education, training, and repetition.
- Only move to multisig when comfortable and with trusted people for complex setups.