Self-Custody Basics
A practical starter deck for holding keys, avoiding common mistakes, and building confidence slowly.
Why self-custody matters
- Bitcoin lets you hold money without relying on a custodian.
- That power comes with operational responsibility.
- The goal is not paranoia; the goal is reducing single points of failure.
Start small
- Use a wallet you understand.
- Practice receiving and sending modest amounts.
- Write down the recovery words and test the restore process.
- Keep learning before increasing balances.
Backups
- A seed phrase controls the funds.
- A lost seed can mean permanent loss.
- A leaked seed can mean theft.
- Store backups somewhere private, durable, and recoverable.
Hardware wallets
- Hardware wallets keep signing keys isolated from your laptop or phone.
- They are useful once balances justify the extra ceremony.
- The device is replaceable; the seed backup is what matters.
Good next steps
- Learn the difference between hot and cold storage.
- Understand single-sig before jumping to multisig.
- Keep notes about your setup that a future version of you can understand.