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

[Awaklara]

And secondly, avoiding to tell people that you own bitcoin is another way to staying safe.

That is the safest option. If you yourself are not sure about the character of the people in your family, it is indeed necessary to have a safer place. But if you live in a family that respects each person's privacy, it should not be a problem to keep your wallet in a safe. 
The fewer people who know that we have Bitcoin, the better. Money and wealth can influence a person's character, even if it is our own family.

[tbct_mt2]

That is the safest option. If you yourself are not sure about the character of the people in your family, it is indeed necessary to have a safer place. But if you live in a family that respects each person's privacy, it should not be a problem to keep your wallet in a safe. 
The fewer people who know that we have Bitcoin, the better. Money and wealth can influence a person's character, even if it is our own family.

Inside a family or in any society, privacy matters so if you don't let your family members knowing that you invest money in Bitcoin, or don't let local community, neighborhoods knowing about your Bitcoin investment, you will have risk of physical attacks, fund steal.

Whether the family is safe, the local community is safe, the neighborhoods are good, you must stay humble, maintain privacy, and never tell them about your Bitcoin investment. It reduces a lot of risk of any attacks on you physically and on your Bitcoin wallets and funds.

If your home, room is not safe place to store your bitcoin, it's not safe to store it in any bank vault or rely on lawyers to keep it for you. If in your nation, there is no Bitcoin Spot ETF that you can use as investor, you have no choice than invest and store bitcoin by yourself.

[Franctoshi]

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?

If you can memorize your seed phrases and have them stored in your head, then that would have been another good method, just as we do store our phone numbers in our heads and can memorize them even when they wake you up just from sleep.

It can be challenging to secure your Bitcoin where you don't have privacy in the house you are living in, because someone with bad intentions that stays with you can easily monitor you even with the alarm that your friend put in place can be disconnected when being targeted because he's not the only person living in the house or have access to his room.

[Tongley]

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?

If you can memorize your seed phrases and have them stored in your head, then that would have been another good method, just as we do store our phone numbers in our heads and can memorize them even when they wake you up just from sleep.

It can be challenging to secure your Bitcoin where you don't have privacy in the house you are living in, because someone with bad intentions that stays with you can easily monitor you even with the alarm that your friend put in place can be disconnected when being targeted because he's not the only person living in the house or have access to his room.

I think memorizing seed phrases can be a bit risky. Because we always invest in the long term and investment is never 3 years or 3 years time frame but investment is at least 8 years time frame. If we use something all the time then we can memorize that thing and if we don't do anything then maybe we can forget those memorized things after a few years.

For example I had a number a few years ago and then I had memorized the numbers and since I stopped using that number I don't remember that number much and gradually I have forgotten that number, although I haven't forgotten it completely but I have forgotten some numbers. So if you memorize your seed phrases then maybe you can forget. Maybe it depends on the memory of a person but in my case I forget everything easily

[Callido]

I think memorizing seed phrases can be a bit risky. Because we always invest in the long term and investment is never 3 years or 3 years time frame but investment is at least 8 years time frame. If we use something all the time then we can memorize that thing and if we don't do anything then maybe we can forget those memorized things after a few years.

No long explanation, memorize your seed phrase if you want, it can never be accurately recited after a long period, which makes it not a reliable way of storing your seed phrase. Instead, follow the strict pattern, than later regret it in the future when you start having signing-in problems into your wallet.

Write down your seed phrase, engraved or carved using whichever method, the most important thing is that nobody else, without your permission, should have access to your seed phrase, use a good method, and the ones highly recommended, it will work instead of relying on memorizing the phrases.

[RockBell]

And secondly, avoiding to tell people that you own bitcoin is another way to staying safe.

That is the safest option. If you yourself are not sure about the character of the people in your family, it is indeed necessary to have a safer place. But if you live in a family that respects each person's privacy, it should not be a problem to keep your wallet in a safe. 
The fewer people who know that we have Bitcoin, the better. Money and wealth can influence a person's character, even if it is our own family.

In all honesty, you both make a lot of sense since it will be better if you can determine whether or not the people you are with are safe to inform about your holding. We may see this from different angles because, in any case, it is better to keep things private and there should be at least one family member we trust who can make things very easy for us so that, even if something were to happen, we would be on the safe side. This is because the issue may not even be your family, but your family telling outsiders is another reason.

others can change when it comes to money, so it's even better if they can discover a safer and better manner. When you're holding money, it's better if some others knew about it so that if something were to happen, someone would know what to do.  Just that tell someone you trust.

[boyptc]

We may not know when we're going to pass into this world. So, do not tell your family what you have in your assets including Bitcoin.

That's going to make someone a mad greedy man when they knew what you have. Secrets inside the family is hard to ignore when you're living altogether.

I think memorizing seed phrases can be a bit risky.

Never do this.

Even you're some highly intellectual person, you'll not know what can go around in your head and might forget things.

[Sally9256]

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?

The decision has to be yours. Most of us probably grew up in homes with many family members, so we know what such environments can be like. But if you live in a place where everyone's privacy is respected, then finding a safe place to keep your seed phrase or hardware wallet shouldn't be a big issue. You just need to make sure people don't get any hint that you own a crypto wallet. On top of that, you should add an extra layer of security to your wallet. As many people have mentioned, you can add a passphrase to your seed phrase. That way, even if someone finds your seed phrase one day, they still wont be able to access your funds without the passphrase.

People who live in houses with many family members and have little privacy are those who knows how to hide things the most so where to keep their seed phrase and hardware wallets shouldn't be much of a problem. Sometimes it might be difficult but things are best kept when you think like a person trying to find it, that way it will let you know the best places to keep them, it will easily let you know they have to think out of the box to keep things safe.

Most people are fond of using a passphrase that is similar or the same with their phone or device security password so sometimes it's easy to guess them. Passphrase should be different so it can serve it's purpose properly.

[Sonia_123]

It is your behavior that will make people around you notice that you have an important asset or something valuable around you, if you don't give impression of how valuable it is nobody will know, at time we expose ourselves to danger unknowingly to us, our actions and attitude tells what we have around us, being silent and not over protective of our asset will help us go a long way, it is when you pay attention to a particular thing that drags attention toward it.

I will keep it wherever I want in mist of my belongings to and not tell anyone about it, it is only when you tell people what you are up to that they will know, don't be scared and look suspicious, feel free as if nothing special is in your possession, don't talk, live a normal life that will help you when found in places or situations like that.

[FinneysTrueVision]

The hardware wallet inside the safe has to be pin protected and passphrase protected. You also need to keep the seed and passphrase separate. This is multiple levels of protection that even a sophisticated attacker would find extremely difficult to successfully crack and steal your Bitcoins. You could also use multisig with multiple hardware wallets hidden in different locations, but this is adding more complexity than is necessary, in my opinion.

Having a hardware wallet isn't a good idea anymore. I'd probably ditch it, write down my seed phrase on a piece of paper, and enter it every time I log into any Sparrow Wallet.

If that Sparrow Wallet is on an internet connected device, your BTC can be stolen. If it is air gapped, I don’t see a reason why you have to keep re-entering it into Sparrow.

[Uhwuchukwu53]

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?

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 concurrently believe on your point, been more factual as it align with my way of reasoning towards this issue, but no matter how crowded a family will be an individual privacy must exist where one can keep it's belongings and it remain except family that doesn't respect individual privacy, because where individual privacy failed to exist it's hard to secure whatever one has because anyone can just tarnish your labour for years without knowledge of what is destroying."livingleged" vital view is more safe mostly when dealing with pass phrase or key phrase the splitting method help a lot but the danger is you capable of knowing how you slip them .

[Localhostspeed]

No long explanation, memorize your seed phrase if you want, it can never be accurately recited after a long period, which makes it not a reliable way of storing your seed phrase. Instead, follow the strict pattern, than later regret it in the future when you start having signing-in problems into your wallet.

Write down your seed phrase, engraved or carved using whichever method, the most important thing is that nobody else, without your permission, should have access to your seed phrase, use a good method, and the ones highly recommended, it will work instead of relying on memorizing the phrases.

Human memory is large but they don't work like computer, that seed phrase can be forgotten and to remember it will be a problem. The best thing to do, do what's easy. The developers that created seed phrase knows how important it's and how human can forget it, write it down somewhere and keep it safe. If after doing that you are able to keep the seed phrase on your memory, that's fine but your back is highly recommended than rely on your head.

Nobody pray for bad things to happen, I like doing things that prevent than trying to do something because you believe in what you can do. There is nothing hard in doing a back, it will take some minutes even if you want to add a seed phrase, try and write it down, it's better than you think you can rely only your head when you never can even tell challenges you can face in life later, which can make you forget you ever use a pass phrase on your wallet.

[Cheema02]

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.

What are you talking about? One doesn't need to enter the seed phrase to access the wallet in a hardware wallet, because you simply just do the set up for the first time when creating the wallet, and then save the seed phrase, and then you can just set up a pin or a password phrase to access the wallet every single time unless you reset it and create a new wallet. So if someone gets access to the wallet, and if it doesn't have a pin or a password, they can basically access the wallet.

However, I like your idea about splitting the seed phrase into two or more parts and keeping each part at a separate place, so that if someone gains access to one part, they should still not be able to gain access to the wallet. For example, as suggested by @Upgrade00, if someone splits the seed phrase and keep one half in a locker they booked in a bank, and then keep the other half in the safe at home. Now even if someone in the bank accesses the first half of the phrase, or someone gets to the second half at home, none of them will be able to do anything.

[Jasmyne]

And secondly, avoiding to tell people that you own bitcoin is another way to staying safe.

That is the safest option. If you yourself are not sure about the character of the people in your family, it is indeed necessary to have a safer place. But if you live in a family that respects each person's privacy, it should not be a problem to keep your wallet in a safe. 
The fewer people who know that we have Bitcoin, the better. Money and wealth can influence a person's character, even if it is our own family.

The main reason why it is actually hard to trust anyone. By the time they know you have bitcoin, it might actually be small but most persons don’t want to know and will feel like for you to have bitcoin, you have a lot of money stored there and the next thing that comes to their mind is how to get access to it. Keeping our bitcoin investment private at some extent is actually good but if there is any reason to share it to anyone in case of the future, it should be someone we can 100% trust.

[scamrevealer]

What? So i can rob a bank, scream “I am a good person” and return like 90% and fear no legal prosecution? LOL we are lost. well bitcoin and crypto is a security shitshow lately (always?). its time to stop this experiment and embrace fiat.

[BitcoinPak]

If you can memorize your seed phrases and have them stored in your head, then that would have been another good method, just as we do store our phone numbers in our heads and can memorize them even when they wake you up just from sleep.

Have you ever faced a situation where you try to remember something that you had memorized earlier, but you greatly struggle, and the more you try to put weight on your brain, the more lost you feel because you just can't remember it. What if something like that happens with a person who has only memorized their seed phrase and never made any other backups? They have saved their bitcoins in the wallet, memorized the seed phrase, but now either can't remember the words, or can't remember their correct order, and are now stuck there.

So even though it can be used as a secondary option, because if you can memorize the seed phrase, you won't need to get the backup every time you want to open your wallet in another wallet software, but there should always be available backups, so that if you face a situation that I explained above, you shouldn't lose access to your wallet completely.

[Stalker22]

What? So i can rob a bank, scream “I am a good person” and return like 90% and fear no legal prosecution? LOL we are lost.

Where did you get that from?  I dont see anyone saying that in this thread.

well bitcoin and crypto is a security shitshow lately (always?). its time to stop this experiment and embrace fiat.

How is fiat actually better in terms of security?  If you think about keeping your money in a bank, that just means you are entrusting the security to a third party.  You can do that with bitcoin too, if thats what you prefer.  But when it comes to cash, you still have to take care of the security of your money yourself.

[TedMosby]

I am not an expert, this is purely my opinion too, not a recommendation, or whatsoever. In that condition, having a hardware wallet maybe too obvious to show you have crypto. In that condition, I maybe only use a software wallet or mobile app wallet. I think as long as I keep my seed phrase or private key safe, then it's already enough. The concern now maybe how to store it safely. I might be adding an extra layer of encryption to that seed phrase or private key, like a custom encryption that only you and people you trust know. There are maybe ways like adding words/letters you can easily remember to the seed/pk. For example, "broken refrigerator", break the word letter by letter and put it randomly in the private key. Not sure if it's safe or not, at least, it can add extra protection to your wallet, to protect it from people in your house (maybe).

Anyone here also adding an extra layer of encryption like this?

[uchegod-21]

I am not an expert, this is purely my opinion too, not a recommendation, or whatsoever. In that condition, having a hardware wallet maybe too obvious to show you have crypto. In that condition, I maybe only use a software wallet or mobile app wallet. I think as long as I keep my seed phrase or private key safe, then it's already enough. The concern now maybe how to store it safely. I might be adding an extra layer of encryption to that seed phrase or private key, like a custom encryption that only you and people you trust know. There are maybe ways like adding words/letters you can easily remember to the seed/pk. For example, "broken refrigerator", break the word letter by letter and put it randomly in the private key. Not sure if it's safe or not, at least, it can add extra protection to your wallet, to protect it from people in your house (maybe).

Anyone here also adding an extra layer of encryption like this?

I don't know how old op is and how much he earns apart from his investment in bitcoin, but if he is serious about investing in bitcoin and keeping the security of his bitcoins a priority, he should move out of such a crowded family house where there is no respect for personal belongings. I don't know know how careful he can be in such a place where everyone has access to everything. If he tries to over protect a particular item, people will notice and out of curiosity, try to uncover what it is.

Like you said, I will also advice that for the meantime, he can forget about hardware wallets. He should use software wallets on his mobile phone. Since his phone will always be with him, it will be easier for him to always monitor who tries to access his phone and other vital information in the phone. This carries some risks,  but this is just a way to keep family members off until he is ready for a hardware wallet.

[Orpichukwu]

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 situation like that, the safe is already a target for everyone, as they expect valuables to be locked inside the safe box. I would like to go offline and look for an old mobile phone which is no longer that useful, maybe with an old OS or an Android version. The device is still good but too old-fashioned for anyone to use. I can use that for an air gap and secure the device very well so that no one can gain access to it without my consent and still put the phone inside the safe box. Even if someone accesses the safe box looking at an old Android phone, it will be less suspicious than when you see a hardware wallet with the balance displaying on the screen.