In this case how do you keep your Bitcoin wallet safe?

[BTC-BACKPACKER]

IT IS CRITICAL TO UNDERSTAND THAT HARDWARE WALLETS ARE EXTREMELY POPULAR TODAY, BUT THEIR SECURITY DEPENDS ENTIRELY ON GENERATING A TRULY PROPER SEED PHRASE. DO NOT RELY SOLELY ON A DEVICE'S INTERNAL RANDOM NUMBER GENERATOR (RNG) TO CREATE YOUR SECRET WORDS.

{ ALL CAPS ITS KINDA MY THING }

[Stepstowealth]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

There are more lesser obvious ways to keep your hardware wallet away from attention than a safe beside your bed. Even in crowded homes, it is very possible that you must have a privacy in some way like have your hardware wallet stored in a private box that has a key and can be kept away from attention, and there are even more portable safes that could fit into such private boxes for improved security.

[Asiska02]

Just someone coming in touch with your hardware wallet only doesn’t mean they now have access to your wallet. Separating your hardware wallet from where you keep your seedphrase will be the best approach in this case. The hardware wallet itself is not your main wallet, the seedphrase is. To enable more security to your hardware wallet, possibly add a passphrase to create an entirely different wallet. This is what some reputable hardware wallets like Trezor and Ledger does for more security.

A bedside safe with an alert set to notify you when someone comes close to it is already sending a signal that something valuable is in there, so just relying on alarms cannot save you from someone not getting access to it, there could be some network lagging or something that could delay receiving a notification that someone is coming to the bed side wardrobe safe. I will still recommend that there is a zero knowledge discipline where no one ever knows in the household that you own a bitcoin, that’s your best and most important security method you should first adopt in a crowded space like yours.

[TastyChillySauce00]

First thing first, if somebody have your hardware wallet, they'll need the pin to unlock it. Someone holding your hardware wallet doesn't automatically grant them access. If what you're worried is actually storing the seed phrase, which I think it is, there'll be several solution such as if your hardware wallet support Shamir (SLIP-39) it might be useful split your seed phrases into share and store it on a different places or simply buy a lockbox, if the box is forcefully unlocked, you would know.

[OcTradism]

First thing first, if somebody have your hardware wallet, they'll need the pin to unlock it. Someone holding your hardware wallet doesn't automatically grant them access.

You don't always lose your bitcoin if you lose your hardware wallet or a hot wallet file because the person who has your hardware wallet or hot wallet file will need to open the wallet to access your Bitcoin private key and your bitcoins. If the person fail with the last step, your bitcoin will still be safe but it's always risky to lose your wallets (either cold or hot) to other people, because you don't know what will happen next.

If what you're worried is actually storing the seed phrase, which I think it is, there'll be several solution such as if your hardware wallet support Shamir (SLIP-39) it might be useful split your seed phrases into share and store it on a different places or simply buy a lockbox, if the box is forcefully unlocked, you would know.

It's firstly important to learn about How to back up a seed phrase.

Then know risk of seed splitting.
Why is seed splitting a bad idea

Lastly know about Shamir's Secret Sharing and its shortcomings.
Security and Privacy Encylopedia.

[PERtua]

I'm not sure that the alarm concept is going to solve all of this. If somebody is sufficiently interested in opening the safe, an alert is not sure to safeguard the device or even stop them from finding a thing of greater value. If the house is really full, I would do what I can to make it not so visible. Just make it less like a high security place. The secret is actually in the recovery backup and not in the hardware wallet. Physical security should therefore be based on protecting both, but not make it apparent that bitcoin is there to be stored.

[SPIDERMAN008]

The idea of ​​the alarm system in the safe locker of the person you mentioned is not bad, but it cannot provide complete security. If there are many family members, if someone knows that the seed phrase of bitcoin is in that locker, then he can easily take control of that seed phrase.

Now the person who is the owner will not be at home all the time. If he is far away from home for work, then even if he gets a notification, he will basically not be able to do anything. Creating more security can create unnecessary attention, which can create suspicion among the other members of the family. Because in crowded families, it is often observed that relationships between each other are bad.

I think in such a situation, that person should keep the hardware wallet in a secure place and keep the seed backup in a physically separate secure place , so it will be difficult to access it. And since everyone lives in a family, there is no need to tell everyone where the valuable assets are. If no one knows where the valuable assets are, then the possibility of losing bitcoin also decreases.

[Outhue]

It actually depends, coming from someone who have once lived in a family house before getting married, if your family home is a peace haven for you then they will all respect your space, you won't be needing some extra safe to keep your hardware wallet, but if it's a place where you aren't having peace of mind like most family homes in Africa it's best you move out, it makes no sense to live with toxic people whom you can't trust with your money and private space. Safe money on renting a private space instead of buying Bitcoin because at the end of all this your Bitcoin isn't actually safe in such places.

[atookz]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

I don't know if this is a good idea but I will like people's opinion about this, if you are living in a crowdy house basically a family house how do you keep your Bitcoin wallet safe?

IMO, it's ok to have an alarm on the safe, but that's an added layer of protection, not the primary one — once someone tries to open the safe, the alarm will alert you.

So, if I was in your situation living in a crowded house, here's what I'd prioritize:

Don't store the seed phrase backup in the same place as the hardware wallet — if the safe is found, so is the backup!

A passphrase (BIP39 25th word) – this is the most important one, if the device is found or stolen, it cannot be used without the passphrase which is meant to be stored in your head.

Do not place the safe in a conspicuous location; the less noticeable the safe, the less likely someone will be suspicious.

Don't let anyone in the house know what is in it — trust me, this is probably my biggest tip, because the riskiest scenario is usually someone in the house already knowing what's there and getting curious.

So I guess the mix of passphrase and distributed backups and minimal disclosure is works a lot better than just an alarm. This is just my own take/opinion, though — perhaps others here have other ways of doing it that are better suited to them.

[cryptoaddictchie]

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

I don't know if this is a good idea but I will like people's opinion about this, if you are living in a crowdy house basically a family house how do you keep your Bitcoin wallet safe?

Well he should not tell anyone whom he doesnt trust about having a a hardware wallet on a safe. Commonly family members are to be trusted but we all knew in the past that some incident that even a family member change thought when it comes to money matter and actually the hardware wallet arent safe anymore like they used to as we can see countless news about this.

[OcTradism]

A passphrase (BIP39 25th word) – this is the most important one, if the device is found or stolen, it cannot be used without the passphrase which is meant to be stored in your head.

When people want to and actually add a passphrase to their wallet, they must learn about it very well, master how to to that, know about risk of losing the wallet, their bitcoins if they lost their wallet passphrase as without it, they will never be able to recover their wallet.

No Bitcoin wallet recovery tools or services can help them to recover their wallet if the wallet passphrase was lost, and if it is a very strong passphrase.

Wallet passphrase.

Using a passphrase allows you to create a completely different wallet from your initial seed.

This increases security for your wallet but also has risk.

Warning:
Your passphrase is as equally important as your seed. If you lose your passphrase, you'll lose the ability to access to your bitcoins. So store your passphrase as safely as you would your seed.

[retreat]

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

So what's the point of him putting the hardware wallet in that safe if other people can open the safe? Isn't the function of a safe to protect whatever is inside it? Then if other people can easily open it, putting a hardware wallet inside it doesn’t really add much security. If I were him, it would be better for me to put the hardware wallet somewhere else that is more secure, like a bank safe, or even better for me to rent my own place - living with so many people in one place isn’t really my thing.

[coinrifft]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

I don't know if this is a good idea but I will like people's opinion about this, if you are living in a crowdy house basically a family house how do you keep your Bitcoin wallet safe?

isn't it why it is called a "safe", but you are the only one who only knows the password on how to unlock the box?

Same with the hardware wallet as well, you are the only one who knows the seeds or the pincode before they can unlock it. It also doesn't make sense since everyone in the house is your family member. Are you saying that you are a target and they all wanted to steal your Bitcoin wallet?

This is some kind of weird stuff, to be honest.

[Synchronice]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

I don't know if this is a good idea but I will like people's opinion about this, if you are living in a crowdy house basically a family house how do you keep your Bitcoin wallet safe?

What about the fact that we can also memorize seed phrases? Just create 12 words seed phrase and memorize it. I know that lots of people will be against me since I support this idea but I still don't see a problem. Write down seeds on paper, don't immediately burn it but spend months into memorizing it. Repeat those words multiple times a day or multiple times an hour for months and it will be sealed into your brain so deeply that you won't forget it. Well, head injury and amnesia are different scenarios but if you want to protect yourself from losing access to coins because of possible amnesia, then you have to entrust someone with your wallet, so it doesn't make sense either to think about this.

[abaeze]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

I don't know if this is a good idea but I will like people's opinion about this, if you are living in a crowdy house basically a family house how do you keep your Bitcoin wallet safe?

OP, you are making the matter complicated. Even if someone gets a hardware wallet and doesn't know the seedphrase, no one can take your assets. And if you think there is a problem with the hardware wallet, you can keep Bitcoin on your laptop or desktop or in a mobile wallet. No one will suspect that. So without making the matter so complicated, you can store Bitcoin in various easy and safe ways if you can use your head a little. There are many people here who have been accumulating BTC for 4-5 years without telling anyone. So if you think a little, you will get new ideas.

[Junii]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

I don't know if this is a good idea but I will like people's opinion about this, if you are living in a crowdy house basically a family house how do you keep your Bitcoin wallet safe?

In a crowded house i think the strongest security is to make sure nobody knows u have a hardware wallet because may be alarm sound will be useful but if everyone knows what is inside then i don't think so it will help a lot if i were you first of all i keep my mouth shut plus i will keep the phrases completely separate and secure and didn't discuss this with others because when the topic is money and bitcoin i don't trust anyone as everyone has their own price.

[MainIbem]

...

Some one just having access to your hardware wallet without knowing your seed phrase is as useless as holding an ATM card without knowing its pin, unless if you’re talk about how you should store your seed phrase when you’re in an extended family. And in this case this can be achieved in so many ways. You can just split the seed phrase in two or three different places such that even if your family member get access to them they might not be able to put them together or make any meaningful connection.

I don't think there's a need to be worried if the password to the safe and keys/phrase securing the hardware wallet are not exposed to any of his family members but if they're need he'll only be scared if he doesn't trust the third party (family member) that has access to them and it's good that he installed an alarm for notifications but it's not enough if he can't tell who tampered with it so a hiddden camera should also be installed in the room where the safe is, that’s my suggestion.

[Comeacross]

Some one just having access to your hardware wallet without knowing your seed phrase is as useless as holding an ATM card without knowing its pin, unless if you’re talk about how you should store your seed phrase when you’re in an extended family. And in this case this can be achieved in so many ways. You can just split the seed phrase in two or three different places such that even if your family member get access to them they might not be able to put them together or make any meaningful connection.

I buy into this idea and if possible, he should add passphrase. Splitting the seed in different locations is good but I think adding passphrase is more better. In bitcoin security, we should always assume the worst scenario because that's the only way we can be ahead. So assuming, a family member somehow managed to discover one part of the seed, they will definitely start hunting for the rest which they may likely discover.

The problem is how smart the person is. Sometimes, you create more problems when you're trying to avoid some problems. I don't know how big the family house is or how they respect each other privacy. In some family house, everyone has their various spot and container with a key that only them can access. Everyone respect their boundaries unless you give someone access to your box by giving them the key.

[ImGenius]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

HW should be kept very safe but the most important thing is to make sure that no one can access where the seed phrase is hidden. Even if someone takes your hardware wallet, they still won't be able to access it because there is a PIN or other security mechanism through which no one else can access it. If the locker has a mechanism where you get a notification on your phone, then it is definitely very helpful because not everyone can keep an eye on their hardware wallet all the time. If you find out that someone has taken your hardware wallet then you should immediately use your seed phrase to access that wallet and move the funds somewhere else.

[yudi09]

Imagine you are living a big family house because you have no choice and you got to invest some money in Bitcoin and store them in a hardware wallet, then you have a safe beside your bed where every can pass by how will you make sure no one goes near out?

A friend said he had to set up an alarm system in the locked safe so that he can be notified on phone when someone opens his safe where he kept his hardware wallet.

I don't know if this is a good idea but I will like people's opinion about this, if you are living in a crowdy house basically a family house how do you keep your Bitcoin wallet safe?

It doesn’t have to be kept in a safe because a hardware wallet isn’t very large and doesn’t take up much space.
A safe is synonymous with a place for storing important and valuable items, which can lead to various perceptions about it, especially since you live in a large family. It can be stored in another, less conspicuous location.
The most important thing is to keep the backup safe, no matter where it’s stored, because it’s like the gateway to a room filled with valuable assets.