100 sats \ 0 replies \ @Jon_Hodl 28 Oct \ on: Questions about your cold wallets rotation bitcoin_beginners
Absolutely. Nothing but air gapped hardware wallet for savings. For smaller stacks, I use a ColdCard that I plug directly into my computer.
Whenever I open Sparrow wallet, it queries my node and updates all address balances and UTXOs.
I only use Sparrow wallet as my client software and that checks my xPub with my own node. I use this to receive as well as send.
No new wallets. I hodl in the same wallet after I generated my own seed phrase on an air gapped signing device.
Whenever I find an old wallet with a balance, I move to the native SegWit address format.
Because I have not moved some sats in a long time. I will move them eventually but not until I am ready to dig those addresses up out of the ground.
I don't. I decentralize my risk. I have long-term savings, short-term savings, and some sats for sending mostly to do experiments.
I use burner wallets to "erase" my wallet after I spend all the sats in it. It helps to fragment any potential address clusters over a long time. In the event that even an empty wallet is compromised, the transaction history may be worth a lot more to a CA attacker than the bitcoin itself so I use a lot of short-term wallets to keep things lite and never link too many UTXOs.
In a perfect world, I would CoinJoin every sat I receive then send it to lightning or savings but that isn't always practical with fees and coordinators being shut down.