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34 sats \ 4 replies \ @Jon_Hodl 2 Feb \ on: What’s the safest way to hold your btc? AskSN
For the average normie, I would say a joint custody arrangement is probably the best with a service like Nunchuk, Casa, Swan, or Unchained.
For me, it’s nothing but seed phrase stamped into stainless steel and oftentimes I use a passphrase
What determines whether or not you use a passphrase?
So you have your seed phrase stamped in stainless steel...and the passphrase?
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I almost always use a passphrase for my own personal wallets that hold any meaningful balance.
If a wallet is important enough to stamp into steel, then I will use a passphrase or multiple passphrases with that seed phrase and I will stamp them into steel as well.
If it’s not that important, or won’t ever hold that much of a balance, then I won’t bother with a passphrase.
I am also looking into other methods with parent/child seeds that are all controlled by the parent seed. I think that would prove to be a really valuable method for mitigating risk of a seed becoming compromised.
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So if you stamp the passphrase into steel - along with the seed phrase - does it still provide additional security? It would seem like it doesn't...unless you're separating them out, onto 2 different steels, in 2 different locations.
But then that would make it more like a 2 of 2 multisig, and if you lost one your bitcoin is gone. Unless you've memorized your passphrase.