I have seen your advice as use non-custodial wallet and keep your seed phrase safe, I will say that it’s a good advice but should be elaborated more. For example one needs to understand that all non custodial wallets are better fit to even use as wallets, for a wide broad example one shouldn’t be using hot wallet for large amount of funds savings because such wallet can be compromised through that hot device, this doesn’t even need to access your offline back seed phrase, if you notice even exchanges facing hacks it was there hot wallet that was compromised, so the emphasis should be cold wallet and a reputable open source wallet, even if it’s an hardware wallet one should stay away from the ones with question marks around them.


Yes multi sig wallet seems to be the best option because it adds layers of security unlike a single sig but it’s not tamper proof too because we have seen from bybit hack last year that multi sig wallets can be compromised when the holders are tricked into signing certain transactions which were from hackers. So even with multi sig the owner should be careful and also most importantly should use a different device for each signer or better still explore the option of single sig with pass phrase

I’ve been thinking about this for a while now. I’ve recently started dcaing into btc, and I usually invest in gold, but i’ve been wanting to switch to btc because i really like the idea behind it and believe in its potential.

I’ll keep using my hardware wallet, but I feel like none of us is completely safe. It’s quite upsetting because I genuinely want to invest in Bitcoin, but knowing how risky it can be to hold it makes me nervous.

Binance was hacked but I believe and hope it doesn't affect users and this situation should be an eye opener for people that puts their money all in one exchange because if anything happens to that exchange it would affect you drastically. Binance is a popular centralized exchange and this will probably keep every other exchange on their toes because who knows the next exchange that will be hacked next time, multisig is more safe and reliable and seeing that many exchange have been hacked it shows that it isn't safe.

When you deposit funds on a centralized platform, the funds go directly to the hot wallet of that platform. And your account balance is just a text. When the platform is hacked, the hackers gain access to that hot wallet and make billions of dollars in transactions. So in that case, of course, the user's funds are affected, and since Binance is one, they have suspended the withdrawal of all types of coins. So, hasn't this had an effect on the user? You can't trade your money as you wish, the control is in the hands of others. So how can you be sure that the user's funds are safe? When FTX was hacked, the owner of this platform still said that the user's funds are safe, but they could not recover the money. So you can't be completely safe with any centralized platform.

Polymarket is definately not an option, but that of Metamask and Binance can be considered for holding a smaller short term investments, because apart from that, our priority should always be to hold our Bitcoin on a secured Non custodial Bitcoin wallet, such as Electrum, BlueWallet, Mycelium and likewise this same Ledger hardware wallet and Phantom wallet too, because one thing i know about most of the causes that was reported about Phantom wallet was either as a result of Pjlishing od fake website attack, whereby an individual went to installed the wrong Phantom wallet and got hacked, or either you accidentally make a malicious approval through a fake browser extension on your device, which resulted to your bitcoin been stolen. Because apart from that, the wallet never got hacked.

If I was starting off again and knowing a lot more I would choose to go with a Trezor hardware
wallet and would try and get it delivered to a post box - even though there would be an extra cost to
that, in the grand scheme of things the extra cost is worth the extra security/anonymity.

Trezor hardware wallet - their wallets have not been hacked and they operate on open source coding

Postal Box - Trezor or their shipping agents wont have my home address

Keep a cold wallet for long term storage and keep the keys secure if possible maintain a multi-sig wallet and keep the keys safe and secured.
Maintain a hot wallet for regular transactions and keep using new addresses for privacy.
Probably the best way out there to keep your coins safe. Beware of what you are doing. Everything you do on the internet is being monitored.

The storage of coins being done on exchanges and other non-custodial wallets is discouraged because you are not owning the private keys, someone hacks the site and you along with a thousand others will lose access to your coins.

The software wallets that are available on desktop is fine, you have to make sure the device is secure, airgapped devices are fine but seem too much for the non-tech savvy here.

Do not use any sort of hardware wallet at all, some or the other attack vectors are being discovered like nasty surprises.

With exchanges and hardware wallets being hacked more frequently lately, people are understandably worried about the security of their assets. But storing your Bitcoin isn't limited to just that, there are other options like wallets commonly recommended by people, air-gapped devices, or if you want, you can set up a multisig wallet.
Just remember that there are still plenty of wallets from Satoshi's time that are still safe today. If they could last that long, then you really don't need to be too worried or think that this is the end of everything.

Not really. The less popular the wallet, the less people will be looking at the code meaning any bugs could be present for longer. It's using security by obscurity which isn't a great idea.
 Instead of using an obscure wallet, I would go for an open source wallet that has had a long period of public review. If you have a large amount in your wallet you are still vulnerable to phishing and counterfeit apps regardless of whether the wallet is popular or not.