How to organise your Bitcoin wealth for a lifetime?

[Vampobit]

Hello! Bitcoin is a big part of my life, in both qualitative and quantitative terms.

I have been struggling with identifying how I should organise my Bitcoin. I guess we are all familiar with organising our FIAT money in several bank accounts etc.

I currently have:

• First layer wallet: 10% - 15% of my BTC in my mobile hot wallet (I love BlueWallet)
• Second layer wallet: ~30% of my BTC in a hardware wallet that connects to the internet via USB
• Non-circulating BTC: ~60% of my BTC in a cold storage air gapped device

I use my second layer wallet when I need to fund my first layer wallet, which I use for payments. I plan to leave my non-circulating BTC to my children or perhaps I will use some of it once I am retired.

I have dual backups for my wallets, stored in different places.

I want your opinion on the following:
1. What do you think about my plan in general?
2. I currently have paper backups and I plan to change my backups from paper to metal, especially for my hardware wallets. Do you agree with that?
3. Would you want to share what you do and how you organise your Bitcoin? In fact, I might be able to get some ideas from clever people in here! So please, shoot me with your thoughts!

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[mk4]

• Non-circulating BTC: ~60% of my BTC in a cold storage air gapped device

What is your air-gapped device's setup? Because mostly, hardware wallets are enough, and that definitely not everyone is capable of properly creating a proper air-gapped device.

[Vampobit]

• Non-circulating BTC: ~60% of my BTC in a cold storage air gapped device

What is your air-gapped device's setup? Because mostly, hardware wallets are enough, and that definitely not everyone is capable of properly creating a proper air-gapped device.

Well I have my keys in Blockstream Jade and I only use it to sign transactions using QR codes. I basically do this: https://help.blockstream.com/hc/en-us/articles/11664909888537-How-do-I-use-Jade-QR-Scan-with-BlueWallet-

[Dunamisx]

1. What do you think about my plan in general?

Your plan is a good idea but what i will only like to adjust about the whole thing is the need to only maintain two portfolios to your bitcoin, having up to 3 wallets or means you adopt in storing your wallet could pose a little way for vulnerability because of the numbers in consideration so that you don't mix things up and easily make mistake others cab take advantage of, have either hardware wallet or use a bitcoincore client to run a full node and additionally use a centralized exchange with hot wallet to perform your exchange.

2. I currently have paper backups and I plan to change my backups from paper to metal, especially for my hardware wallets. Do you agree with that?

Good idea as well, it's a good recommendation to take and follow, back up your seeds in a more secured ways than just on an ordinary paper which can easily got damaged by water except if laminated, but the safety storage to keep it is another challenge, so the best is to go for the metallic sheet and got it encrypted

3. Would you want to share what you do and how you organise your Bitcoin?

I make use of electrum wallet on an air gapped device and i ensure that i don't use my device for other internet browsing purpose than handling my bitcoin wallet.

[Vampobit]

so the best is to go for the metallic sheet and got it encrypted

Hello! what  exactly do you mean by that ?

[Welsh]

Paper wallets can suffice, but it entirely depends on your threat model. If you're concerned about them getting damaged or destroyed via fire, water or anything that could potentially come in contact with them, a metal wallet tends to have higher security based on that. However, the major concern would probably be physical security such as theft. If it's safe from theft, then the other outcomes are relatively low.

However, this depends on your current arrangement, and whether you're storing them in a house that's prone to flooding or has old questionable electrics. Only you can really determine that, otherwise you risk compromising your security. If you're storing your paper wallets outside of your house, then look at the environment you're storing them in, and decide from there.

[Baofeng]

so the best is to go for the metallic sheet and got it encrypted

Hello! what  exactly do you mean by that ?

Perhaps he was referring to stainless seed plate, you can read it here: Stainless steel Bitcoin Recovery Seed Plate.

Yeah, I think paper wallet is suffice, but as @Welsh mentioned you have consider several factors, might be good to have a safety storage box for your safekeeping in a bank if you can have that option as well.

Just remember though that it's not 100% guarantee, this kind of setup has it's drawback and you really have to prepare for the worst situation.

[Vampobit]

Paper wallets can suffice, but it entirely depends on your threat model. If you're concerned about them getting damaged or destroyed via fire, water or anything that could potentially come in contact with them, a metal wallet tends to have higher security based on that. However, the major concern would probably be physical security such as theft. If it's safe from theft, then the other outcomes are relatively low.

However, this depends on your current arrangement, and whether you're storing them in a house that's prone to flooding or has old questionable electrics. Only you can really determine that, otherwise you risk compromising your security. If you're storing your paper wallets outside of your house, then look at the environment you're storing them in, and decide from there.

The only thing that really makes me feel unsafe with paper backups, is the fact that the ink could fade after 20-30 years.

so the best is to go for the metallic sheet and got it encrypted

Hello! what  exactly do you mean by that ?

Perhaps he was referring to stainless seed plate, you can read it here: Stainless steel Bitcoin Recovery Seed Plate.

Yeah, I think paper wallet is suffice, but as @Welsh mentioned you have consider several factors, might be good to have a safety storage box for your safekeeping in a bank if you can have that option as well.

Just remember though that it's not 100% guarantee, this kind of setup has it's drawback and you really have to prepare for the worst situation.

Absolutely! have you got any ideas that about a better setup? It seems to me that it was the only option I had.

[Dunamisx]

so the best is to go for the metallic sheet and got it encrypted

Hello! what  exactly do you mean by that ?

Perhaps he was referring to stainless seed plate, you can read it here: Stainless steel Bitcoin Recovery Seed Plate.

Yeah, I think paper wallet is suffice, but as @Welsh mentioned you have consider several factors, might be good to have a safety storage box for your safekeeping in a bank if you can have that option as well.

Just remember though that it's not 100% guarantee, this kind of setup has it's drawback and you really have to prepare for the worst situation.

In addition to what has been said, OP i expect you to read through the lines and got the idea, i was referring to how you can get your seed phrase secured using a metallic sheet by getting your seeds encrypted on it instead of using a paper wallet, in case you're not still clear about the point we've both given you, this is another additional one to what Baofeng has given, https://bitcointalk.org/index.php?topic=5389446.msg59506339#msg59506339 it's all about how you can secure your seed phrase with washers.

[Vampobit]

so the best is to go for the metallic sheet and got it encrypted

Hello! what  exactly do you mean by that ?

Perhaps he was referring to stainless seed plate, you can read it here: Stainless steel Bitcoin Recovery Seed Plate.

Yeah, I think paper wallet is suffice, but as @Welsh mentioned you have consider several factors, might be good to have a safety storage box for your safekeeping in a bank if you can have that option as well.

Just remember though that it's not 100% guarantee, this kind of setup has it's drawback and you really have to prepare for the worst situation.

In addition to what has been said, OP i expect you to read through the lines and got the idea, i was referring to how you can get your seep phrase secured using a metallic sheet by getting your seeds encrypted on it, in case you're not still clear about the point we've both given you, this is another additional one to what Baofeng has given, https://bitcointalk.org/index.php?topic=5389446.msg59506339#msg59506339 it's all about how you can secure your seed phrase with washers.

Brilliant idea! I will definetely do it this way

[Upgrade00]

Paper wallets can suffice, but it entirely depends on your threat model. If you're concerned about them getting damaged or destroyed via fire, water or anything that could potentially come in contact with them, a metal wallet tends to have higher security based on that. However, the major concern would probably be physical security such as theft. If it's safe from theft, then the other outcomes are relatively low.

The chances of the other outcomes (fire, water etc) leading to losses are much lower considering that OP has dual backups in different locations. The possibility of both backups simultaneously getting damaged is infinitesimal.
With the risk of theft; paper is far more inconspicuous than a metal backup.

The only thing that really makes me feel unsafe with paper backups, is the fact that the ink could fade after 20-30 years.

You would check up on your backed up seed phrases more frequently than a couple of decades and would identify any wear in the ink or paper before it becomes unreadable.

[Vampobit]

You would check up on your backed up seed phrases more frequently than a couple of decades and would identify any wear in the ink or paper before it becomes unreadable.

Well I have made a mistake... I can't check on one of my backups quite easily. Don't ask me why  I will however check once per 2-3 years to see if it's ok! Perhaps I will just make another copy of it no matter what the old paper's situation is.

[Upgrade00]

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2-3 years is still a decent time frame and you would be able to forsee any possible damage to the paper or visibility issues. Paper is more durable than most think and can last quite a long time if kept in a suitable location.

[so98nn]

The most easiest way I have done this is via my ledger and one smart phone which is only turned on when I need to take out my bitcoin and spend them. So ledger everyone knows it as hardware wallet, you need the passkey and phrases and stuff. However, sometimes the security of your funds can be managed with simple tricks rather than getting too high techie about it! I have Mi phone which is old and I am no longer using it since 4-5 years now. Since then I have formatted it and only have mycellium wallet installed on it. Now the address is mostly used to fund it and I rarely withdraw anything from it. I have kept that phone turned off and locked up in my desk. I only take it out now and then when Mi releases any software's and mycelium updates etc. So far I am doing great, and it serves the purpose of security perfectly.

[Stalker22]

The only thing that really makes me feel unsafe with paper backups, is the fact that the ink could fade after 20-30 years.

Yeah, paper backups can be a convenient and easy way to store important information, but their durability can be a concern. Based on my experience, prints from an inkjet printer can become unreadable much sooner than the estimated 20-30 years, and this can vary depending on environmental conditions. To mitigate these risks, it is a good idea to use archival-quality paper which are specifically designed to last longer and resist fading. Additionally, in general, laser printers and their toner-based output offer longer lasting prints compared to inkjet printers.

[Vampobit]

The only thing that really makes me feel unsafe with paper backups, is the fact that the ink could fade after 20-30 years.

Yeah, paper backups can be a convenient and easy way to store important information, but their durability can be a concern. Based on my experience, prints from an inkjet printer can become unreadable much sooner than the estimated 20-30 years, and this can vary depending on environmental conditions. To mitigate these risks, it is a good idea to use archival-quality paper which are specifically designed to last longer and resist fading. Additionally, in general, laser printers and their toner-based output offer longer lasting prints compared to inkjet printers.

The problem is, I don't want to use a printer.

<snip>

2-3 years is still a decent time frame and you would be able to forsee any possible damage to the paper or visibility issues. Paper is more durable than most think and can last quite a long time if kept in a suitable location.

My seed phrase is handwritten, in black ink, totally hidden from the sunlight, inside a deck card sleeve and inside a box, protected from moisture.

The most easiest way I have done this is via my ledger and one smart phone which is only turned on when I need to take out my bitcoin and spend them. So ledger everyone knows it as hardware wallet, you need the passkey and phrases and stuff. However, sometimes the security of your funds can be managed with simple tricks rather than getting too high techie about it! I have Mi phone which is old and I am no longer using it since 4-5 years now. Since then I have formatted it and only have mycellium wallet installed on it. Now the address is mostly used to fund it and I rarely withdraw anything from it. I have kept that phone turned off and locked up in my desk. I only take it out now and then when Mi releases any software's and mycelium updates etc. So far I am doing great, and it serves the purpose of security perfectly.

I guess this means that your mobile is not connected to the internet, is it ? I don't claim there is an issue here, I am only saying that this is actually a hot-wallet if it connects to the internet. However, I agree that your usage seems to be very safe, compared to someone's that would use their mobile for everyday tasks.

[Smartprofit]

Hello! Bitcoin is a big part of my life, in both qualitative and quantitative terms.

I have been struggling with identifying how I should organise my Bitcoin. I guess we are all familiar with organising our FIAT money in several bank accounts etc.

I currently have:

• First layer wallet: 10% - 15% of my BTC in my mobile hot wallet (I love BlueWallet)
• Second layer wallet: ~30% of my BTC in a hardware wallet that connects to the internet via USB
• Non-circulating BTC: ~60% of my BTC in a cold storage air gapped device

I use my second layer wallet when I need to fund my first layer wallet, which I use for payments. I plan to leave my non-circulating BTC to my children or perhaps I will use some of it once I am retired.

I have dual backups for my wallets, stored in different places.

I want your opinion on the following:
1. What do you think about my plan in general?
2. I currently have paper backups and I plan to change my backups from paper to metal, especially for my hardware wallets. Do you agree with that?
3. Would you want to share what you do and how you organise your Bitcoin? In fact, I might be able to get some ideas from clever people in here! So please, shoot me with your thoughts!

In my opinion, you have created a good storage system for your bitcoins.

As far as I understand, you have three wallets, each of which has its own Seed - phrase?

If so, it seems appropriate to memorize these three Seed phrases. You can remember seed phrases using mnemonic techniques.

In particular, there is a popular mnemonic technique for remembering important information called Mind Halls. However, it is described in detail in the series about Sherlock Holmes.

[teosanru]

Hello! Bitcoin is a big part of my life, in both qualitative and quantitative terms.

I have been struggling with identifying how I should organise my Bitcoin. I guess we are all familiar with organising our FIAT money in several bank accounts etc.

I currently have:

• First layer wallet: 10% - 15% of my BTC in my mobile hot wallet (I love BlueWallet)
• Second layer wallet: ~30% of my BTC in a hardware wallet that connects to the internet via USB
• Non-circulating BTC: ~60% of my BTC in a cold storage air gapped device

I use my second layer wallet when I need to fund my first layer wallet, which I use for payments. I plan to leave my non-circulating BTC to my children or perhaps I will use some of it once I am retired.

I have dual backups for my wallets, stored in different places.

I want your opinion on the following:
1. What do you think about my plan in general?
2. I currently have paper backups and I plan to change my backups from paper to metal, especially for my hardware wallets. Do you agree with that?
3. Would you want to share what you do and how you organise your Bitcoin? In fact, I might be able to get some ideas from clever people in here! So please, shoot me with your thoughts!

The plan is great. Especially that you have kept two backups of the seedphrase so that just in case one of them goes missing or destroyed you have the other one to rescue. Also keeping 60% in a cold wallet which is not connected to any web is a great idea as well because the biggest chunk of your portfolio is then perfectly secure without any harm from hackers and even far away from you that you sell it in panic.

[Mahanton]

First layer wallet - 20%
Second layer - 30%
Third layer - 50%

This is what im doing similar to yours on which i do make out partition on my coins and this isnt only limited on Bitcoin but also
into other altcoins as well on which i do make out that kind of dividing so that i wont really be losing it all once i  would be hacked or some exploit or do make out some mistakes.
It wont really be that hurting that much if ever there's some accident since we know that internet connected devices are really that always prone to these things.

[Vampobit]

In my opinion, you have created a good storage system for your bitcoins.

As far as I understand, you have three wallets, each of which has its own Seed - phrase?

If so, it seems appropriate to memorize these three Seed phrases. You can remember seed phrases using mnemonic techniques.

In particular, there is a popular mnemonic technique for remembering important information called Mind Halls. However, it is described in detail in the series about Sherlock Holmes.

Memorising 3 seed phrases is extremely difficult and is susceptible to errors. In my opinion nobody should trust their memory for long periods of time. Memory is good, but unfortunately, you can't manage what you remember.

The plan is great. Especially that you have kept two backups of the seedphrase so that just in case one of them goes missing or destroyed you have the other one to rescue. Also keeping 60% in a cold wallet which is not connected to any web is a great idea as well because the biggest chunk of your portfolio is then perfectly secure without any harm from hackers and even far away from you that you sell it in panic.

Thank you!!!

First layer wallet - 20%
Second layer - 30%
Third layer - 50%

This is what im doing similar to yours on which i do make out partition on my coins and this isnt only limited on Bitcoin but also
into other altcoins as well on which i do make out that kind of dividing so that i wont really be losing it all once i  would be hacked or some exploit or do make out some mistakes.
It wont really be that hurting that much if ever there's some accident since we know that internet connected devices are really that always prone to these things.

In general, cryptography is a complicated subject. It makes you suspicious, not trusting anyone/anything. I love it for this reason.