ACCEPTED
You Need A Bitcoin wallet – Now.
Put plainly, the rule stands: not your keys, not your coins. Only by personally holding your keys can you genuinely claim ownership of your coins. In other words, get your Bitcoin Wallet + run a node and become the sovereign individual WE are all meant to become.
To begin with, Bitcoin Hardware Wallets – a term I find very misleading. Don’t mix up your Bitcoin Hardware Wallet (HW) with a physical wallet that you carry around and which you use like a USB stick.
You are never downloading your Bitcoin to any device. Your Bitcoin or share of it will always be floating around the World Wide Web. You merely sign transactions with your Bitcoin HW. It is your personal key to the global monetary network – The Bitcoin Blockchain.
Which signing-device should you use though?
I will share my experience with 3 Bitcoin signing-devices, all of which I Can Recommend With A Slight Preference For the Coldcard signing-device (Spoiler Alert).
1. Coldcard
Safety of your coins above all
The ColdCard hardware signing-device is among the most secure methods for safeguarding your bitcoin. Its discreet design, resembling a basic calculator, offers tamper-evident packaging (very important detail). Upon connection, LED indicators signal device integrity. A unique two-part PIN enhances security, backed by anti-phishing words. A secret recovery phrase is stored. No PIN recovery is possible, emphasizing its significance. Additional security measures include duress PINs, creating “fake” wallets and a Brick PIN, erasing all data irreversibly. ColdCard prioritizes your bitcoin protection, making sure they are safe.
Air-Gapped
A major security feature is its complete air-gap capability. This means it can’t connect to USB, WiFi, or Bluetooth. To use your Coldcard wallet, insert a Micro SD card to import a PSBT (Partially Signed Bitcoin Transaction) for signing, following BIP174 binary format. Coldcard is built on BIP174 for exclusive Bitcoin use. However, this method is complex, involving Micro SD formatting and PSBT handling, which makes it less user-friendly for frequent transactions. As a result, it is one of the safest wallets out there.
Handling Is Not Easy – It’s A Feature Not A Bug
While this product offers exceptional security and a range of protective features for users and their assets, it’s important to acknowledge that its ease of use is not its strong suit. Whether you opt for complete air-gapped use with PSBT or not, there’s a noticeable learning curve to efficiently store bitcoins on the ColdCard. For that reason, the device is tailored for long-term asset storage, not for frequent trading or engagement with NFTs and other dApps (Who does that anyways – Sh&%coiners, I see you!). If you’re seeking a solution to securely store your Bitcoin without regular interactions, this outstanding product aligns perfectly with that need. It’s worth noting that its complexity is intentional, serving as a unique feature rather than a flaw.
In short, Coldcard remains an excellent choice for Bitcoin hodlers. If you want a super-safe wallet to hold onto your Bitcoin, give it a shot.
Get your Coldcard signing-device via their official website:
https://store.coinkite.com/store
2. Seedsigner
SeedSigner aims to make Bitcoin multi-signature wallets more affordable and easier to use. It lets you create a trustworthy air-gapped Bitcoin signing tool using affordable hardware (often under $50). With SeedSigner, you can save money on Bitcoin transactions by securely generating private keys and setting up multi-signature wallets. It also facilitates secure Bitcoin transactions through a QR-code exchange signing process. If you’re looking to enhance your Bitcoin security without breaking the bank, SeedSigner is a practical choice. It is not necessarily a device for beginners. However, if you are serious about Bitcoin, there is usually no way around a Seedsigner. Setting one up and building your own signing-device will create a great feeling of accomplishment on your journey to self-sovereignty. Isn’t that what we all want?
You can find a guide how to build your Seedsigner here:
https://seedsigner.com/
https://bitcoinmagazine.com/guides/how-to-use-the-seedsigner-bitcoin-wallet
3. Bitbox02
Much like other hardware wallets, the BitBox02 adopts a compact thumbstick-like design that ensures portability and some level of durability.
The device’s layout is elegantly straightforward, featuring a slim rectangular core equipped with an integrated MicroUSB slot and USB-C connector. On the front, a sizable OLED display boasting 128 x 64 pixels resolution takes center stage, while touch-sensitive panels on the sides allow seamless menu navigation and transaction approval.
Hobbit Size
In the realm of hardware wallets, the BitBox02 boasts a “hobbit-sized” presence that sets it apart. Its dimensions of just 45mm x 24mm x 8mm make it a true pocket gem, leaving its primary contender feeling rather… oversized. It would have definitely been Frodo’s wallet of choice to preserve its wealth.
BitBox02 takes the price in usability
When it comes to hardware wallets, usability has been a major concern. Remember the early days in 2017/2018? Those wallets were quite clunky and didn’t offer a smooth user experience.
Thankfully, times have changed a lot. Nowadays, hardware wallets are as user-friendly as software or mobile wallets. The BitBox02 is a prime example, thanks to its nifty touch controls.
Picture this: the frame of the device features five touch sensors. They’re like little wizards detecting sliding, tapping, and pinching actions. These gestures help you cruise through menus, unveil more info, and confirm choices. It might be new to those used to traditional button-wielding wallets, but we found it super easy to grasp and surprisingly spot-on in accuracy.
Overall configuring the BitBox02 is among the easiest setups I have come across so far.
You’ll breeze through it in under five minutes.
For this reason, it is a great wallet for beginners. If you are buying Bitcoin frequently you can easily set-up your BitBox in order for recurring buys to be sent to your wallet instantly. Lastly, in terms of connectivity, you don’t need any adapters as the BitBox has a built-in USB-C connector. Purely magical.
Get your BitBox wallet on the official website and avoid getting it through a third party (this applies to any Bitcoin wallet in my point of view).
In conclusion, all signing-devices have their strength and weaknesses. However, safety is the most important element. Therefore, Coldcard is the best choice if you are starting out and if you want to keep your Bitcoin safe long-term.
All in all, I will elaborate on more wallets in a different post, or edit this one. There are a few interesting wallet options that you can use with your e.g. Coldcard Wallet.
Btw: Those links I shared are no affiliate links, I am not getting any money for mentioning any of the wallets.
Until then – keep your Bitcoin Safe.
Your humble pleb
aLeXeJ
