bostonwine on Nostr: Okay #plebchain I need some ideas I just learned recently that a friend of mine has a ...
Okay #plebchain I need some ideas
I just learned recently that a friend of mine has a not-insignificant amount of Bitcoin on Coinbase, but we haven’t had time to have the self custody talk (other than a brief exchange of texts this week).
I want him to get those sats somewhere safer. Perhaps in less time than it would take for a beginner-friendly hardware wallet to arrive. I also won’t be available to sit down with him and walk him through setup for at least a couple of weeks.
Options:
- Desktop wallet. Hot, so some risk, and still requires a beginner to dive in and take on a very new responsibility of key management, without time to do it thoughtfully
- Transfer to a different custody service. Obvious counterparty risk, but with customer support and onboarding. And if it’s someone like Casa or Unchained, then there’s the added bonus of early exposure to multi-sig
- Other ideas?
You never know when a centralized exchange will implode and I’d like to spare him from the experience either way…
I just learned recently that a friend of mine has a not-insignificant amount of Bitcoin on Coinbase, but we haven’t had time to have the self custody talk (other than a brief exchange of texts this week).
I want him to get those sats somewhere safer. Perhaps in less time than it would take for a beginner-friendly hardware wallet to arrive. I also won’t be available to sit down with him and walk him through setup for at least a couple of weeks.
Options:
- Desktop wallet. Hot, so some risk, and still requires a beginner to dive in and take on a very new responsibility of key management, without time to do it thoughtfully
- Transfer to a different custody service. Obvious counterparty risk, but with customer support and onboarding. And if it’s someone like Casa or Unchained, then there’s the added bonus of early exposure to multi-sig
- Other ideas?
You never know when a centralized exchange will implode and I’d like to spare him from the experience either way…