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Bitcoin Self-Custody & Security
Rating: 4.5 out of 5(17 ratings)
505 students

Bitcoin Self-Custody & Security

Hot & Cold Storage
Created byKevan Bore
Last updated 7/2021
English
English [Auto],

What you'll learn

  • Bitcoin & Crypto Self-Custody
  • Hot & Cold Storage Methods
  • Crypto Security Practices
  • Do's and Don'ts of Crypto Security
  • Be your own Bank

Course content

1 section23 lectures51m total length
  • Introduction1:12

    Learn why buying bitcoin on exchanges gives you IOUs, not full sovereignty, and how self-custody storage protects your scarce crypto from exchange failures, cybercrime, and third-party risks.

  • Overview1:05

    Master self custody essentials, hot and cold storage, and security practices to protect your bitcoin, understand decentralized private ownership, and compare centralized versus decentralized monetary systems.

  • Centralized Monetary Systems3:17

    Centralized monetary systems rely on a central authority and custodial exchanges that issue off-chain IOUs, so you don't hold private keys or fully control funds.

  • Decentralized Monetary Systems2:59

    Discover how off-exchange transfers settle in a decentralized block chain network, with tamper-proof distributed ledger across thousands of nodes, enabling secure crypto custody.

  • Self-Custody2:32

    Explore self-custody where you own and control your Bitcoin via a private key in a non-custodial wallet, accessing a distributed ledger without middlemen.

  • Intro to Wallets1:34

    Explore how crypto wallets interact with the blockchain, compare hot and cold wallets, and learn about keys and recovery seed phrases for secure self-custody.

  • Keys1:09

    Understand private and public keys in crypto, where asymmetric cryptography links keys to allow sending and proving ownership while enabling others to verify signatures.

  • Private Key1:04

    Private keys grant ownership access and must remain private to protect funds on the blockchain. Keep your private key secret; it unlocks your wallet and authorizes transactions, never share it.

  • Public Key0:23

    Learn how a public key pairs with a private key to receive or transfer funds in peer-to-peer and wallet contexts, enabling decryption and identity in cryptographic messages.

  • Public Address1:31

    Explore how a public address is a hashed, compressed form of public key, how wallets derive accounts from private keys, and how self-custody secures keys for sending and receiving transactions.

  • Seed Phrase1:21

    Use seed phrases as the recovery phrase for private keys. Provide a 12- or 24-word backup to safeguard funds if a wallet is lost or damaged.

  • Hot Wallets0:38

    Explore hot wallets as non-custodial software and desktop wallets to safeguard your keys and manage everyday cryptocurrency transactions on a distributed, decentralized blockchain network.

  • Software Wallets4:19

    Understand desktop software wallets like Armory, Exodus, Garda, and Electrum to control private keys, send and receive crypto, and securely store assets on your device.

  • Mobile Wallets2:21

    Mobile wallets turn your phone into a personal crypto vault for on-the-go payments with QR scanning, but require internet access, and backup seed phrases to avoid loss and malware risk.

  • Security Practices: Hot Wallets3:36

    Master hot wallet security with practices like using a VPN, enabling two-factor authentication and OTPs, and securing a backup phrase or private keys. Double-check addresses and amounts before sending.

  • Cold Wallets1:02

    Cold storage keeps crypto keys offline in a physical form for self-custody of larger amounts. Paper, metal, and hardware wallets each demand different technical skills and steps to secure funds.

  • Paper Wallets4:28

    Use offline paper wallets to store a private key and a Bitcoin address; generate offline with a trusted wallet and printer, then store securely, aware of loss and other risks.

  • Hardware Wallets4:35

    Secure your private keys with a hardware wallet, a portable offline device that signs transactions on a certified security chip for true self-custody and keeps funds off the internet.

  • Metal Wallets2:42

    Evaluate metal wallets as durable, offline cold storage for seed phrases, covering materials like aluminum, steel, titanium, testing under extreme conditions, and security tradeoffs like loss or theft risk.

  • 5 Step Checklist2:30

    Apply a five-point storage security checklist for Bitcoin self-custody, balancing holdings size, budget, and risk tolerance with appropriate hot, cold, and multi-sig wallet options.

  • Do's & Don'ts3:24

    Master self-custody dos and don'ts for bitcoin wallets, including protecting private keys and seed phrases, securing backups with paper or metal, using hardware-backed password managers and two-factor authentication.

  • Being your own Bank2:01

    Discover how Bitcoin enables personal sovereignty and being your own bank, while balancing secure self-custody with awareness and protection against scams and breaches.

  • 'HODL' Safely2:00

    Develop crypto security by building a self custody model that fits security range, using the self custody checklist, and hodl safely with secure storage to be your own bank.

Requirements

  • Interested in Bitcoin and Cryptocurrency
  • Interested in taking Self-custody of your digital assets
  • Interested in Bitcoin and Crypto Security

Description

Welcome!

This class is designed as a beginner's guide to Bitcoin & Crypto Self-Custody & Security.

The number one threat we all have when buying and storing crypto is ourselves, -not just hacking or third-party exchange breaches.

There is no gold standard of crypto security that applies to everyone, so remember to stay within your own range of security comfort, and hopefully, this lesson will have moved the needle a little bit further for you in understanding the importance of self custody and personal crypto security. 

When you install a Bitcoin wallet on your mobile device or desktop, you are taking the radical responsibility of self-custody. This means that you and you alone are responsible for your bitcoin.

 Luckily, the technology available today by developers and entrepreneurs around the world has made the task of self-custody a lot more streamlined and easy by providing multiple methods and security grades for storing your assets. This brings decentralized and independent ways for you to take control of your digital money by providing a high level of private and durable security in protecting access to your coins on the blockchain.

So in this class, will be covering Hot & Cold storage methods, exchanges, self-custody, and standard crypto security hygiene.

In addition, we will underline the security measures you can easily handle, and provide you with a self-custody checklist so you can devise your own security model that best suits your needs for Bitcoin & Cryptocurrency storage.

Who this course is for:

  • Bitcoin & Cryptocurrency Investors
  • Bitcoin & Cryptocurrency Traders
  • Bitcoin & Cryptocurrency Users