Storing Bitcoin

You have different options to store Bitcoin. Whatever you choose to do, here a few recommendations for you:

  • Never leave on exchanges important amounts of Bitcoin. Exchanges can be hacked or your credentials stolen, this is definetely one of the less secure options for you if you start to accumulate significant amounts of Bitcoin.
  • If you decide to use an hardware wallet, well done! This offers you an increased level of security. With increased security, comes as well a greater responsibility on your shoulders. You now need to properly manage and store your recovery seed - a list of words that enable you to recover your wallet in case you lose it. Never write down your recovery seed into a computer or mobile, write it on paper or on another physical object, and store it securely. Take steps to make sure your loved ones can access your hardware wallet or recovery seed in case something happens to you.
  • Remember to protect you against physical attacks. Never share with people how and where you store your Bitcoin. The best way to prevent someone from physically attacking you, is to never have direct access to your Bitcoin. You can achieve this by using a multisignature setup. This means that you will need multiple keys to authorize a transaction from your wallet. Distribute your keys in different places, so that you never have the needed number of keys to authorize a transaction with you at the same place and time. For long-term storage, this is the best option you have.

Hardware wallets

A few non-exhaustive options for starting out with an hardware wallet. Always order directly from the manufacturer's shop to ensure you do not receive a tampered device.

Mobile wallets

A mobile wallet is secure, as long as your device is secure. If you use a mobile wallet for larger amounts, consider one that offers a multisignature setup.
  1. Samurai Wallet (Android)
  2. Green Bitcoin Wallet (iOS)
  3. BlueWallet (Android and iOS, support for multisignature)
  4. Bitcoin Keeper App (Android and iOS, support for multisignature)

Multi-signature wallets with third party key storage

Highest security for your Bitcoin. These services offer as well third-party key storage for increased risk-protection against loss of access to your funds and inheritance services.
  1. Nunchuk
  2. Casa
  3. Unchained

Desktop wallets with support for multisignature

Do it yourself multisignature setup with open-source tools. For advanced users only!
  1. Electrum
  2. Sparrow