How do you separate your everyday Bitcoin setup from long-term storage?

[Sim_card]

Be very careful with passphrase, if you don't know what to do, and don't backup your passphrase correctly and store it safely, you will lose your bitcoin because you will never be able to access your wallet later.

That's because they don't know how to keep their passphrase safe. If you don't write down your passphrase and think you can store it in your brain, you might end up not having access to your funds if something happens to you that affects your memory.

When adding a passphrase to your seed phrase, use more than four words and don't use words that can easily be guess which is the main reason why you need to write your passphrase down to avoid any mistakes because if you use a capital letter for the first alphabet and use a small letter for the first alphabet when you want to import your wallet, you will open a different wallet entirely. Write down your passphrase and make two duplicate and keep them separately in different locations from your seed phrase.

[DYING_S0UL]

I don't have any big foolproof Crypto setup like most of the big shots here do, because I simply don't have the bucks to store or the means or the availability for a hardware wallet. For someone with a smaller amount (like me), I think we don't actually need any super secure storage plan or anything. And since i can't directly acquire a hardware wallet here (being in a place with a Crypto ban means you cannot have/do a lot of things related to it), I just separate my workspace. I have different devices for different purposes. For my daily drive there is one device, for storing crypto and for financial related things another one and lastly for work my PC and so on. The financial related device is only used when needed, and most of the time it's offline, not connected to anything.  That's it...i know i know it sounds pretty vulnerable, but this is all i have, and i don't have much to lose either way. 

[Monetarium]

The usual splitting of wallets, the hardware, desktop wallets and other ways of keeping our bitcoin should be enough. What is for long term is with hardware wallet and the ones that I might spend are on the desktop, it changes and which one is convenient.

The more that we're thinking of trying to be secured, it adds more pressure to our minds and probably could lead you into creating a mistake that you might have lapsed.

The reason I keep it that simple is 2019. I photographed my seed phrase and the photo synced to Google Photos along with everything else on that phone. Someone worked out my email address and my phone number through social engineering, got my mobile operator to issue a copy of my SIM, and used it to reset my Google password. I heard about the Google account first. By the time I checked the wallet it was already empty.

And this is one reason why we don't picture our seed phrases, android phones are synced with google accounts that you log in on the device. And that's why when it's compromised, everything is visible to the hacker.

The part I underrated was the recovery on the account. My password was long and I felt fine about it, and none of that mattered once someone had a copy of my SIM, because password recovery went to SMS.

That is also why the setup I described stayed simple afterwards. What I changed was taking the phone number off as a way back into that account. A screenshot or a note that backs up ends up behind whatever recovery the account allows, and more wallets on top would not have done anything about that.

[Ethan151]

I think keeping things simple is really important. For everyday use, I’d keep only a small amount of Bitcoin in a hot wallet and leave the rest in cold storage.
I also feel that having too many security steps can sometimes make things harder. For example, if you use a passphrase, you have to be very careful not to forget it or lose the backup.
For me, the best setup is one that gives you good security but is still easy to understand and manage. There’s no point making things too complicated if you might end up having trouble accessing your own Bitcoin later.

[lionheart78]

keep most BTC in cold storage and only a small amount in a hot wallet for regular use.

For the online side, I also keep Bitcoin-related logins and sessions separate from my normal browsing. Sometimes I use separate browser profiles or an antidetect browser for that.

If you have the funds, it is much better to use separate computer or gadget that is not connected to the internet by default.  Separate profiles maybe good but it does not prevent your data from any malware that is injected into your gadget when you are using the one you call "normal browser".

How far do you guys separate everything before it starts becoming overkill?

I do the same thing, hot wallet for funds that I intend to frequently move (trading or buying stuff) and cold wallet to the BTC that I decided to save.

[Odogwu-Blockchain]

keep most BTC in cold storage and only a small amount in a hot wallet for regular use.

For the online side, I also keep Bitcoin-related logins and sessions separate from my normal browsing. Sometimes I use separate browser profiles or an antidetect browser for that.

How far do you guys separate everything before it starts becoming overkill?

What's the reason for separating browser when coming to Bitcoin storage? I might not be aware of why you do that, but there is no need for separating browser when handling Bitcoin investment and stuffs, it doesn't matter. What matters are the ways you store your secret keys to the platform that holds your portfolio not separating browser.

Doing that will let you get confused to be honest.

[Dreadboost]

keep most BTC in cold storage and only a small amount in a hot wallet for regular use.

I have nothing to say here. Except that I do not use Bitcoin for regular purchases, so a large chunk is kept in cold storage. 

And for trading purposes, I have two wallets that are open source. Normally fetch from there to fill my trading wallet.

I think that people should know that too much of everything is bad, a good security also depends on how easy and simple your setup is for you to manage.  It's a good thing that you're trying not to put or expose your coins, but when the layers of separation is too much it can actually complicate things and you might even end up forgetting things.

Bitcoin security is no longer difficult to understand if you can read and write. If you can't read or write, don't bother going into Bitcoin because there will be a vulnerability in the security, as you will need a third party to help in that matter.

[Zoomic]

We've discussed similar threads especially here on beginners and help. Separating your Bitcoin based on how you use them I think is the best approach.

Long-term holdings should not be treated the same way you treat the BTC you use regularly.

Hot wallet for the BTC you spend on intervals and a well secured cold wallet for long-term purposes storage.

You don't have to have tens of wallets to separate how you use your Bitcoin because the more complicated your setup becomes, the more chances that you'll make a mistake with your keys.

[macson]

For better security, using a cold wallet is definitely recommended. But since I don't have a lot of Bitcoin, I don't have one --- but I still use a self-custody wallet for my assets and a separate device for that. It may not be as secure as a proper cold wallet, but I think that's, at least so far as it's been safe.

[Rgram]

I think keeping things simple is really important. For everyday use, I’d keep only a small amount of Bitcoin in a hot wallet and leave the rest in cold storage.

I don’t usually think of it this way although, I have an expenses wallet but, it’s more about fiat than with Bitcoin. The initiative on my seperate Bitcoin holdings has always being about not having all my eggs in one basket just in case of any eventuality. Not like I have any huge holdings but, I believe I would get there someday when it would be worth a lot.

[MadSl1m]

Nobody's named the third leg yet. For a lot of people the everyday bitcoin isn't in a hot wallet, it sits on an exchange behind a card, and that's counterparty risk, not malware risk. The terms let them switch it off without notice, BitMart holders got that lesson this month. Keep there what you'd spend this week. Nothing more.

[Versatile_choice]

I think keeping things simple is really important. For everyday use, I’d keep only a small amount of Bitcoin in a hot wallet and leave the rest in cold storage.

I don’t usually think of it this way although, I have an expenses wallet but, it’s more about fiat than with Bitcoin. The initiative on my seperate Bitcoin holdings has always being about not having all my eggs in one basket just in case of any eventuality. Not like I have any huge holdings but, I believe I would get there someday when it would be worth a lot.

Sure, it's important to split our assets across other wallets to avoid one particular point of failure. Though most Investors wouldn't mind to hold everything in one particular wallet sometimes it might even be in hot wallet they are holding it, and we all know that holding our assets in hot wallet is very risky especially when you intend to hold for the future.

Personally, I don't hold my assets in hot wallet I only use my hot wallet while making transfer but if it's to hold my assets I don't do that. All my bitcoin is moved to cold wallet, i just want a place where I will have peace of mind.

[Callido]

How far do you guys separate everything before it starts becoming overkill?

Ordinarily, some person split their Bitcoin into several wallets, inorder to reduce the risk of losing all in one time, and it is very commendable to make it a practice. If you cannot use cold storage or use it correctly, splitting your Bitcoin is a good option, every possible option is a good option as long it reduces the risks of losing your assets, nothing is worse than losing so much that you've invested.

[Coyster]

If you cannot use cold storage or use it correctly, splitting your Bitcoin is a good option, every possible option is a good option as long it reduces the risks of losing your assets, nothing is worse than losing so much that you've invested.

I do not consider just spreading your coins across different wallets to be a standard security approach. Say you have around $100k in bitcoin, splitting it in half and putting $50k each in a hot wallet does not make you any safer than having all of it in one wallet. The standard is to make use of a cold wallet if your funds are worth so much, and for some people that could even be an amount such as $2k or even less.

[Nwada001]

For better security, using a cold wallet is definitely recommended. But since I don't have a lot of Bitcoin, I don't have one --- but I still use a self-custody wallet for my assets and a separate device for that. It may not be as secure as a proper cold wallet, but I think that's, at least so far as it's been safe.

A cold wallet is cheap; it’s not as expensive as some people think. You can get a good one for less than $70, but the option you are using is also not entirely bad as long as you know how to secure your key without it getting exposed and you don’t constantly connect the device you hold those Bitcoin on to the internet. Even if you do, you also know how to avoid and detect phishing attacks.

[CryptoHeadlineNews]

keep most BTC in cold storage and only a small amount in a hot wallet for regular use.

For the online side, I also keep Bitcoin-related logins and sessions separate from my normal browsing. Sometimes I use separate browser profiles or an antidetect browser for that.

How far do you guys separate everything before it starts becoming overkill?

This isn't meant to be as hard the way you are trying to portray it to seems like, because all you need to do for all those who intend to separate their Bitcoin meant for regular usage and that of long term is to just create a two separate wallets meant for the two purpose, and ensure that they are well secured. However, for those who intend a more stronger security, the best approach is to just get a totally different device (I.e Android or IOS), that will be used in storing only your Bitcoin, while you also avoid clicking unknown links and avoiding downloading apps from unknown websites. As this basic safety measures goes a long way protecting your Bitcoin. Whereas for those who can not afford getting a new device, using a dedicated browser for all their Bitcoin activities is also good, but inasmuch as you do not auto-save the password of whichever Bitcoin is exchange or non custodial wallets you are using.

[CryptopreneurBrainboss]

How far do you guys separate everything before it starts becoming overkill?

Popular answer, hardware wallets for hodling for long term, while software wallets for minor tasks. Don't ever combine both and if you're to be that active online then you can make use of electrum wallet. It has years of trusted services and a non custodial wallets that gives you full control. Don't keep your long term bags connected to the internets. I'm sure other advice would had been given so no need to repeat them but always prioritize privacy for your long term bags. Not saying software wallets providers can't be trusted for long-term hodling but it's better a hardware wallet is being used.