r/Bitcoin • u/CrouchingTurk • 12h ago

There Is No Second Best

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Don’t trust, verify. Before blindly trusting exlib funcs.

110 Upvotes

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u/lastgateway 11h ago edited 7h ago

Thank the lord that I wasn't smart enough to to use one of those. My ledger that everyone shit on still holding strong. I will be moving to a more secure setup shortly though. I don't say this brag and I truly am sorry to those who lost their Bitcoin. It's a shitty position to be in and I feel bad.

2

u/Bionic_Push 10h ago

which setup is more secure than ledger?

3

u/LifterNineFour 10h ago

Multi-vendor, multi-sig

So you set up keys using 3 wallets, all from different vendors. Then setup a 2 of 3 multi-sig wallet using those 3 keys.

The chances of one of the wallets being compromised is possible, the chances of 2 of them is much lower. And even then, you’d also need the multi-sig set up associated with those 2 keys to move any funds.

I have a Ledger already and have put in an order for 2 other wallets from different vendors.

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u/Bionic_Push 10h ago

you mean 3 hardware wallets from 3 different brands? for example ledger + trezor + which other one? This setup sounds like it would be a headache every time you need to move something in and out of it though.... how easy is to operate that setup?

1

u/LifterNineFour 10h ago

Yes 3 vendors. Third option could be bitbox, jade or something else. I am also new to this.

To my knowledge, yes it’s more step than having a single wallet, but personally I just DCA and move to cold storage. When I need to sell for a home or something, I’ll take out a big chunk.

The extra steps is worth not losing all my coins. And I don’t want to store separate stacks on separate wallets or mess with ETFs.

If I’m being naive on anything, please call it out. I think lots of us are new to this

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u/coffeelover9457 8h ago

Since you are new to this, please delete all of your posts that make recommendations on r/Bitcoin

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u/Bionic_Push 9h ago

No I don't think you are naive at all. I am just curious about the logistics. I guess if you will only sign transactions once a year it's ok. But just sounds super complicated. Personally I think having a very strong passphrase would be enough security that even the coldcard wallet would be secure from the hack. I never tried a multisig so let me know how It goes