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

[Giwagi56]

The alarm system is a good idea because is a way of providing additional security, especially in a situation where we are not living alone. However the attention should not just be on protecting the hardware  wallet because the most important thing is the seed phrase. Once someone lays there hands on it protecting the hardware wallet becomes useless because they can use another device to access the bitcoin in our wallet. The best thing is for the hardware wallet and the seed phrase not to be kept in the same place like beside the bed. Also it will be good not to tell anyone about were we are hiding our seed phrase or hard wallet because the less people know about it the more secured it will be. Without someone having access to our seed phrase it will difficult for them to have control of our bitcoin .

No matter how smart you are or how protected you are, you still need to be careful of what you are doing, it is not a bad idea to put an alarm or something that will notify you when someone come close to where you have your keys or something important, but we should know that people can also remove the alarm and do whatever they want to do, what we need to do is that we should never give them the opportunity of scamming us, our seed phrase is very important and it is something that we should not joke with.

They can get whatever they want and they will not find it difficult to get access to your wallet, but if they get a seed phrase they can get access to the wallet, alarm is not a bad thing but we should not let the alarm make us believe that everything is safe.

[impulse709]

The hardware wallet itself is not the main thing I would worry about in a crowded house. Someone finding or even stealing the device does not automatically give them the Bitcoin; the recovery backup is far more important. I would keep the hardware wallet and recovery backup in separate, discreet locations and avoid telling people where either one is kept. An alarm can provide an extra layer of awareness, but it does not solve the main problem if the seed is exposed. For larger holdings, a properly managed passphrase or multisig setup can also reduce the risk of a single backup being enough to access everything. Privacy is probably the simplest security layer here.

[Antotena]

Exactly! Especially now that sometimes, even the closest members of your family can betray you for the sake of money. But it really depends on how much you trust them. For me, it’s okay if they have the slightest idea that I’m into crypto or have crypto-related activities, but they will never know the other details, particularly the important ones like the value of my assets, passwords, or seed phrases. Writing down some important details and keeping them in the safest place in my room works for me because my family members aren’t nosy when it comes to everyone’s private and personal things. You should try that too!

The challenge I'm seeing here might not be trust issues. This kind of storage system brings point of failure. If something happen to that hardware wallet, you can't point finger, you can't suspect one person because you never can tell exactly who did it. To avoid this kind of complications, your best interest is to remove the hardware wallet from the place and keep in a place where nobody will be able to access, you don't know who will try to take the Bitcoin from the wallet.

Sometimes we think people are ignorant of the things we do until they shock us with things we never expected. The guy might even be fool that nobody know what is a hardware wallet in his home until one person steal everything from the wallet most especially people that are closer to him who might know his passwords and pins.

[Issa56]

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.

Instead of setting up an alarm system in the locked safe that will notify your friend, don’t you think it’s better your friend looks for a better place to keep the wallet, it’s just better your friend keeps in a place where nobody can access it, a place where nobody knows that something like this can be stored there.

If your friend set up an alarm system in the locked safe, and he receives notification on his phone, what if the safe is Broken when he isn’t around, even if he receives notification during that period, what is he going to do? He won’t be able to arrest the person that broke the safe, because he doesn’t even know who did that, and he won’t be able to stop the person from breaking the safe because he isn’t around.

[Lida93]

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.

Instead of setting up an alarm system in the locked safe that will notify your friend, don’t you think it’s better your friend looks for a better place to keep the wallet, it’s just better your friend keeps in a place where nobody can access it, a place where nobody knows that something like this can be stored there.

If your friend set up an alarm system in the locked safe, and he receives notification on his phone, what if the safe is Broken when he isn’t around, even if he receives notification during that period, what is he going to do? He won’t be able to arrest the person that broke the safe, because he doesn’t even know who did that, and he won’t be able to stop the person from breaking the safe because he isn’t around.

Having being able to manage to get an income to invest some funds into bitcoin my expectations from someone like that is getting some place to live for his privacy because having an alarm set up wouldn't for long save him from losing his bitcoins. It's obvious he's already living with a possible invasion risk which can be done by anyone in the crowded house. My simple advise is let the young man rent a private apartment where he can always go have his privacy and keep his keys safe there in a secured position.

[Somegory]

There should be at least some privacy, and if you aren't getting some privacy it means that they don't respect you, if that's the case what are you still doing there? You should leave and find a privacy space.

I have live with families before and most of the times they don't touch my stuffs unless they ask for permission and I permit them, there should be some sense of honoring eachother.

[SeriouslyGiveaway]

There should be at least some privacy, and if you aren't getting some privacy it means that they don't respect you, if that's the case what are you still doing there? You should leave and find a privacy space.

I have live with families before and most of the times they don't touch my stuffs unless they ask for permission and I permit them, there should be some sense of honoring eachother.

It depends on how people in your family were grown up as person and in education. These things can affect their mindset, morality and practice while you can not control them or change their behavior.

Changing where to live is the best choice but sometimes you just can not do that, and it's time when you have to deal with your family members. I know it's really hard to live in such families and risk of losing your valuable things and sensitive information anytime. But if you still have yet been able to leave it and move to somewhere else, you must have to try as best as you can to keep your assets and sensitive documents safely.

If I have only one wallet, I can remember my only wallet's mnemonic seed phrase with my brain and memory. Likely it will be my best choice if I am in such hard situation for privacy and fund safety while I know that memory is not trusted. If I choose memory as my backup, I have to rehearse wallet recovery by brain every day.

[Bitcoin_people]

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 my case, if I live with a large family to keep my Bitcoin wallet safe, I will keep my hardware wallet in a locker. The key to that locker will be with me only, no one else will have this key except me, in that case, my hardware wallet will be very safe and should be kept in a place where no one knows it. Although it is often seen that if I live with a large family, at that time the family members may search for various things, if they find the wallet there, they may consider it unnecessary and throw it away. So you have to protect yourself. If you want to invest in Bitcoin and keep your money safe, then you have to create a safe place in your room where no one can enter except yourself. However, if you live with a large family, sometimes some things are not safe there, many people want to use them. However, if I invest in Bitcoin with a large family, my thinking will definitely be different and I will definitely create a safe place to keep my money safe.

[Youngrebel]

In my case, if I live with a large family to keep my Bitcoin wallet safe, I will keep my hardware wallet in a locker. The key to that locker will be with me only, no one else will have this key except me, in that case, my hardware wallet will be very safe and should be kept in a place where no one knows it. Although it is often seen that if I live with a large family, at that time the family members may search for various things, if they find the wallet there, they may consider it unnecessary and throw it away. So you have to protect yourself. If you want to invest in Bitcoin and keep your money safe, then you have to create a safe place in your room where no one can enter except yourself. However, if you live with a large family, sometimes some things are not safe there, many people want to use them. However, if I invest in Bitcoin with a large family, my thinking will definitely be different and I will definitely create a safe place to keep my money safe.

I think the main thing to protect is the seed phrase, because having the hardware wallet alone should not give anyone access to your coin and someone can easily damage or even throw away the device, but if the seed phrase is well secured you can recover your wallet with another available device and this is why i normally avoid keeping hardware wallet and seed phrase together in the same place and most importantly the last part where you talked about investing with a large family to me at this stage the security and strategy to apply just to secure your btc need to be very very strong.

[Nanga Parbat]

No matter how smart you are or how protected you are, you still need to be careful of what you are doing, it is not a bad idea to put an alarm or something that will notify you when someone come close to where you have your keys or something important, but we should know that people can also remove the alarm and do whatever they want to do, what we need to do is that we should never give them the opportunity of scamming us, our seed phrase is very important and it is something that we should not joke with.

They can get whatever they want and they will not find it difficult to get access to your wallet, but if they get a seed phrase they can get access to the wallet, alarm is not a bad thing but we should not let the alarm make us believe that everything is safe.

Keeping the seed phrase offline is one of the best options, but always keep your things secure. It's never been easy, but it's still possible because it's our duty to have things under control; otherwise, anyone can create problems that are surely not manageable. People are increasing their way of scamming, but security is also having enough development; you just need to stay alert and have all updates about these changes. Recently I read few good things about security and keeping yourself safe because if scammers are having minds then peoples those are well aware about these tactics also doing their job and increase things for doing better against them hardware wallet is still one of the best option while if someone is able to manage all with easily.

[Cricktor]

If I have only one wallet, I can remember my only wallet's mnemonic seed phrase with my brain and memory. Likely it will be my best choice if I am in such hard situation for privacy and fund safety while I know that memory is not trusted. If I choose memory as my backup, I have to rehearse wallet recovery by brain every day.

Having your human brain memory as only backup is a recipe for desaster, sooner or later. It's true that you should rehearse regularly and possibly every day. But let me ask: how do you verify that your rehearsal from memory is correct without a written backup?

I have a feeling that memory verification without a written backup is quite a gamble, isn't it? Yes, I can imagine ways without it, but are they safe? I tend to say, no! And therefore, the need for a written backup makes "storage" in human memory somewhat obsolete. At least, I know for myself, that I don't want to rely on my own brain's memory. Too much experience with having forgotten stuff that I thought I wouldn't forget. Human memory is a fragile thing...


On the topic and the thread is already too long and stuff has been repeated over and over again and what comes to my mind may have been stated already (I only went briefly over first posts and few in between).

I don't want to judge anybody's family. I hope your own blood gets along with each other and there's enough respect to private stuff of family members. I can imagine that's sadly not always the case.

Your hardware wallet doesn't store your coins, it protects only the keys which enable movement of coins. Typically a hardware wallet is protected by a pin or passphrase. If only you know that access code, then basically: problem solved.

It has been mentioned to pay extra attention to your (redundant!) mnemonic recovery words backup(s). Those should not be accessible easily and maybe only family members you can trust 100% should know where they are. Again, I don't want to judge your family. Only you can assess who should know what or if anybody should know something at all.

I think, there's always some way to hide secrets that it's utterly hard to find for others or very unlikely to be found by those who shouldn't find it. Be creative but remember to not let the foot gun go off on yourself.

Every family member has the right for private space, to remain untouched by other family members. I wouldn't want to live under the same roof if that is no consensus within the family members. Of course, easier said, than actually lived...

[BItcoin Guy@]

The challenge I'm seeing here might not be trust issues. This kind of storage system brings point of failure. If something happen to that hardware wallet, you can't point finger, you can't suspect one person because you never can tell exactly who did it. To avoid this kind of complications, your best interest is to remove the hardware wallet from the place and keep in a place where nobody will be able to access, you don't know who will try to take the Bitcoin from the wallet.

Sometimes we think people are ignorant of the things we do until they shock us with things we never expected. The guy might even be fool that nobody know what is a hardware wallet in his home until one person steal everything from the wallet most especially people that are closer to him who might know his passwords and pins.

You’re absolutely right, the best thing he can do is to remove the hardware wallet that he think people can go and touch it and steal from him, because know one can be trusted, because nothing money can put some people to do what they didn’t suppose to do.

If you’re someone that lives in a family house, I can’t advise you to keep any of your secrets in the house, because you’re not along and different people and unknown people can comes and see some of your relatives, and can probably search about what they can take before going to there destination, so we just need to be careful. Find paper and write your secret phrase and find a place that you can keep it. and you get the believe that know one can go into the place, because you will always have alternative, you can’t just depend on your family house to hide things, they can get other ways out when you think deeply.

[RockBell]

Keeping the seed phrase offline is one of the best options, but always keep your things secure. It's never been easy, but it's still possible because it's our duty to have things under control; otherwise, anyone can create problems that are surely not manageable. People are increasing their way of scamming, but security is also having enough development; you just need to stay alert and have all updates about these changes. Recently I read few good things about security and keeping yourself safe because if scammers are having minds then peoples those are well aware about these tactics also doing their job and increase things for doing better against them hardware wallet is still one of the best option while if someone is able to manage all with easily.

You have to find a way of avoiding saving your seed phrase offline because that is one of the first things to consider because most people will want to save it in there email and that os why some people lose there shit and they Start to wonder how it happened so when it comes to saving this we just have to be ready because there is no way that you will want to save your assets in your wallet and you won't find a safe place for your seed phrase  that is one of the most important responsibilities.

And any one using a wallet needs to be more vigilant than even a vigilante because you have to aviod making mistakes just like what others are making because of so unrealistic investment and we need to understand that the responsibility is not just about the seed phrase alone there scammers that are out there making things look like it's real just because they want to scam we just need to stand our ground.

[Dareo]

I think the main thing to protect is the seed phrase, because having the hardware wallet alone should not give anyone access to your coin and someone can easily damage or even throw away the device, but if the seed phrase is well secured you can recover your wallet with another available device and this is why i normally avoid keeping hardware wallet and seed phrase together in the same place and most importantly the last part where you talked about investing with a large family to me at this stage the security and strategy to apply just to secure your btc need to be very very strong.

Just keeping your wallet secure does not mean that your Bitcoins are safe. Because after you die, your Bitcoins will be lost forever unless your family knows about them. That's why I have already created these two related topics. I want to share them with you.

One is Bitcoin Is Becoming Easier To Buy, But Harder To Secure  And the other is Don't Let Your Bitcoin Die With You

After reading these two topics, I think those who are still worried about this issue will have their problems solved.

[bitcoin-shark]

Hardware wallets remain the best option, though 100% security no longer exists; the best strategy is to keep the passphrase secure—memorizing it and making a copy on a metal plate to bury in the garden or otherwise keep separate from the wallet.

[2Pizza410000BTC]

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 is my responsibility to keep everything safe. In that case, I really need to know how to keep my Bitcoin wallet safe. However, I have kept the seed phrase of my Bitcoin wallet in a very safe place where my wife and children cannot find it except me. Even then, I live in a very small family and the number of members in my family is very small. I do not live in a joint family, so I do not have the problems of a joint family. However, even though I am in a small family, everything is organized and my family does not have many people. However, from my point of view, I would say that it is not safe to live in a house in a joint family and keep the seed phrase of the Bitcoin wallet in that house, but the decision that the original poster has made is not a bad decision.

[alegotardo]

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?

Certainly, that vault is the worst place for you to store the hardware wallet, and even worse to storing the recovery seed.
If possible, I would even leave it in a drawer at work, I think it is much less likely that someone will mess with my things there than in a house with a bunch of people where intimacy and privacy is not respected.

The problem is that in such a crowded house is not even just storing this, but also how to use the device safely without someone seeing you type the PIN, for example.

It is my responsibility to keep everything safe. In that case, I really need to know how to keep my Bitcoin wallet safe. However, I have kept the seed phrase of my Bitcoin wallet in a very safe place where my wife and children cannot find it except me. Even then, I live in a very small family and the number of members in my family is very small. I do not live in a joint family, so I do not have the problems of a joint family. However, even though I am in a small family, everything is organized and my family does not have many people. However, from my point of view, I would say that it is not safe to live in a house in a joint family and keep the seed phrase of the Bitcoin wallet in that house, but the decision that the original poster has made is not a bad decision.

About this, I want to make a remark:

I think everyone should trust at least one more person: their spouse or a parent, because what happens to the cripto if you "disappear from the world"?
If the desire really is to take the Bitcoins with you, then fine, but if you have them with the intention of providing a more comfortable future for your family, then it is important to share this with someone else.

[osasshem]

It is better to have a software wallet for you Bitcoin holdings when you dwell in a large family house and keep your phone or laptop safe and restricted from any possible access by any of the family members. Having gotten a hardware wallet where you store you Bitcoin, it will be best to have kept safely in a bank, possibly only you knows what you kept there and you shouldn't be talking much about your Bitcoin holdings while having discussion with family members, except maybe there's trust and same interest amongst members.

[As-Soon-As]

It is better to have a software wallet for you Bitcoin holdings when you dwell in a large family house and keep your phone or laptop safe and restricted from any possible access by any of the family members. Having gotten a hardware wallet where you store you Bitcoin, it will be best to have kept safely in a bank, possibly only you knows what you kept there and you shouldn't be talking much about your Bitcoin holdings while having discussion with family members, except maybe there's trust and same interest amongst members.

If you are the only one in the family who knows about Bitcoin and is holding it, then it is necessary to keep the hardware wallet safe from other people, because other people do not know, so they may throw away your hardware wallet, considering it useless. However, since the family lives together, it is very important to store Bitcoin in a software wallet.
However, the wallet is not very important, the most important thing is that the more secret the seed phrase of the wallet is, the more secure your wallet will be. So you must be careful about everything, you must be careful that other members cannot harm you.