Episode notes
Outline
0:27 - What is Self Custody ?
0:58 - Equipment List
1:42 - Step 1 : Acquire Bitcoin
2:05 - Step 2 : Setup Hardware Wallet
5:15 - Step 3 : Backup Seed Words On Stell
6:34 - Step 4 : Create Encrypted Backups
8:24 - Step 5 : Choose A Software Wallet
10:22 - Step 6 : Test & Verify
15:35 - Step 7 : Take Custody
Tutorials featured in this guide.
Step 2:
https://youtu.be/jKY8oKPkX2I
https://www.keepitsimplebitcoin.com/setup-coldcard-wallet/
https://youtu.be/qeESsHoAbsc
Step 3:
https://youtu.be/_m5BjsdeXIY
Step 4:
https://youtu.be/n8bS4a6HRyo
Step 5:
https://youtu.be/u5jRJ8L1Vwo
https://youtu.be/VWze8xtH72I
Step 6 :
https://youtu.be/u5jRJ8L1Vwo
https://youtu.be/W4WqSvxLbxE
https://www.keepitsimplebitcoin.com/how-to-use-coldcard/
https://youtu.be/0kbxP-VIMjc
https://www.keepitsimplebitcoin.com/how-to-use-coldcard/
https://youtu.be/fNZgVHq0FGM
This Bitcoin security guide was created to help you achieve a high level of security and control over your Bitcoin. To get maximum benefit from Bitcoin's unique properties, personal responsibility is required and risk/reward scenarios need to be evaluated. You have the option to be in full control over your Bitcoin, and if you choose to to take it, this guide will hold your hand from start to finish... better yet from Zero to Hero.
After completing all the steps in the Bitcoin security guide you will have a resilient solution for interacting with the Bitcoin network and protecting your Bitcoin.
Self Custody:
One of Bitcoin's value propositions is that it's a digital bearer asset. You do not need to trust 3rd parties to keep your Bitcoin safe on your behalf. Only through self custody does Bitcoin guarantee protection against censorship and confiscation.
Equipment List:
In order to follow along with this guide and create a robust self custody setup, you're going to need some equipment.
A Coldcard hardware wallet
A Seedplate
At minimum 2 MicroSD cards for encrypted backups.
The two Microsd cards are meant to be used for encrypted backups. You can purchase an inexpensive Microsd card to use only for interacting between your Coldcard and your computer. This is the safest way to use the Coldcard because you don't ever need to directly connect the Coldcard to an internet connected device.
You can get all equipment, plus some other goodies, with a special Bitcoin Security Guide Bundle discount.
https://store.coinkite.com/store/bundle-kisb
Step 1 -Â Acquire Bitcoin
An important consideration when choosing how you will acquire Bitcoin is KYC.
KYC stands for 'Know Your Customer', it is a regulation that any businesses with a banking relationship has to abide by, including Bitcoin exchanges.
These rules are imposed worldwide and are geared towards ensuring that a business acting as a money exchange and/or transmitter has ‘suitable’ information on every customer they serve.
KYC comes with potential risks:
KYC information ties your personal identity to any Bitcoin you purchase. Since the Bitcoin ledger is transparent, this poses privacy concerns for users.
The potential for your private data held by these centralized entities being compromised carries privacy and security risks for you.
Censorship
Confiscation ( only if you don't self custody !)
Learn more about KYC and how it comes with a host of potential downsides.
https://bitcoiner.guide/nokyconly/
globally recommended KYC Bitcoin on-ramps courtesy of Bitcoin-only.com.
https://bitcoin-only.com/get-bitcoin
Recommended KYC on-ramps
https://cash.app/
https://www.swanBitcoin.com/
https://river.com/
No KYC:
You can choose to acquire Bitcoin in a more private way by using Peer to Peer services and software. This does not require you to give up your personal information in exchange for the privilege to buy Bitcoin. Common payment methods include bank transfer, cash deposited in the seller's bank account, in-person cash (face-to-face) trades as well as payment networks such as Zelle, Alipay, even Cash App and PayPal.
recommended NO KYC methods to acquire Bitcoin :
bisq.network
https://hodlhodl.com/
comprehensive list of P2P Bitcoin exchanges globally:
https://github.com/cointastical/P2P-Trading-Exchanges/
Step 4 -Â Create Encrypted Backups
Check out this guide on advanced considerations for backups
https://btcguide.github.io/backup-wallet/seeds-advanced
Step 5 : Choose A Software Wallet
Software wallets recommended
https://electrum.org/#home
https://bluewallet.io/
https://specter.solutions
Specter Wallet is the easiest way to setup a private Bitcoin full node and use a software wallet that seamlessly interacts with many hardware wallets.If you want to have maximum security and privacy - using specter is the way to go.
Make sure you go back and check on your backups at a set interval of time - a few times a year is good practice. You want to be comfortable restoring your backups should the need arise.
0:27 - What is Self Custody ?
0:58 - Equipment List
1:42 - Step 1 : Acquire Bitcoin
2:05 - Step 2 : Setup Hardware Wallet
5:15 - Step 3 : Backup Seed Words On Stell
6:34 - Step 4 : Create Encrypted Backups
8:24 - Step 5 : Choose A Software Wallet
10:22 - Step 6 : Test & Verify
15:35 - Step 7 : Take Custody
Tutorials featured in this guide.
Step 2:
https://youtu.be/jKY8oKPkX2I
https://www.keepitsimplebitcoin.com/setup-coldcard-wallet/
https://youtu.be/qeESsHoAbsc
Step 3:
https://youtu.be/_m5BjsdeXIY
Step 4:
https://youtu.be/n8bS4a6HRyo
Step 5:
https://youtu.be/u5jRJ8L1Vwo
https://youtu.be/VWze8xtH72I
Step 6 :
https://youtu.be/u5jRJ8L1Vwo
https://youtu.be/W4WqSvxLbxE
https://www.keepitsimplebitcoin.com/how-to-use-coldcard/
https://youtu.be/0kbxP-VIMjc
https://www.keepitsimplebitcoin.com/how-to-use-coldcard/
https://youtu.be/fNZgVHq0FGM
This Bitcoin security guide was created to help you achieve a high level of security and control over your Bitcoin. To get maximum benefit from Bitcoin's unique properties, personal responsibility is required and risk/reward scenarios need to be evaluated. You have the option to be in full control over your Bitcoin, and if you choose to to take it, this guide will hold your hand from start to finish... better yet from Zero to Hero.
After completing all the steps in the Bitcoin security guide you will have a resilient solution for interacting with the Bitcoin network and protecting your Bitcoin.
Self Custody:
One of Bitcoin's value propositions is that it's a digital bearer asset. You do not need to trust 3rd parties to keep your Bitcoin safe on your behalf. Only through self custody does Bitcoin guarantee protection against censorship and confiscation.
Equipment List:
In order to follow along with this guide and create a robust self custody setup, you're going to need some equipment.
A Coldcard hardware wallet
A Seedplate
At minimum 2 MicroSD cards for encrypted backups.
The two Microsd cards are meant to be used for encrypted backups. You can purchase an inexpensive Microsd card to use only for interacting between your Coldcard and your computer. This is the safest way to use the Coldcard because you don't ever need to directly connect the Coldcard to an internet connected device.
You can get all equipment, plus some other goodies, with a special Bitcoin Security Guide Bundle discount.
https://store.coinkite.com/store/bundle-kisb
Step 1 -Â Acquire Bitcoin
An important consideration when choosing how you will acquire Bitcoin is KYC.
KYC stands for 'Know Your Customer', it is a regulation that any businesses with a banking relationship has to abide by, including Bitcoin exchanges.
These rules are imposed worldwide and are geared towards ensuring that a business acting as a money exchange and/or transmitter has ‘suitable’ information on every customer they serve.
KYC comes with potential risks:
KYC information ties your personal identity to any Bitcoin you purchase. Since the Bitcoin ledger is transparent, this poses privacy concerns for users.
The potential for your private data held by these centralized entities being compromised carries privacy and security risks for you.
Censorship
Confiscation ( only if you don't self custody !)
Learn more about KYC and how it comes with a host of potential downsides.
https://bitcoiner.guide/nokyconly/
globally recommended KYC Bitcoin on-ramps courtesy of Bitcoin-only.com.
https://bitcoin-only.com/get-bitcoin
Recommended KYC on-ramps
https://cash.app/
https://www.swanBitcoin.com/
https://river.com/
No KYC:
You can choose to acquire Bitcoin in a more private way by using Peer to Peer services and software. This does not require you to give up your personal information in exchange for the privilege to buy Bitcoin. Common payment methods include bank transfer, cash deposited in the seller's bank account, in-person cash (face-to-face) trades as well as payment networks such as Zelle, Alipay, even Cash App and PayPal.
recommended NO KYC methods to acquire Bitcoin :
bisq.network
https://hodlhodl.com/
comprehensive list of P2P Bitcoin exchanges globally:
https://github.com/cointastical/P2P-Trading-Exchanges/
Step 4 -Â Create Encrypted Backups
Check out this guide on advanced considerations for backups
https://btcguide.github.io/backup-wallet/seeds-advanced
Step 5 : Choose A Software Wallet
Software wallets recommended
https://electrum.org/#home
https://bluewallet.io/
https://specter.solutions
Specter Wallet is the easiest way to setup a private Bitcoin full node and use a software wallet that seamlessly interacts with many hardware wallets.If you want to have maximum security and privacy - using specter is the way to go.
Make sure you go back and check on your backups at a set interval of time - a few times a year is good practice. You want to be comfortable restoring your backups should the need arise.
