Where should you store or bitcoin seed phrase backups?? 👇

A good framework for deciding how to store your seed phrases might be to consider the following for yourself or your organization:

🤔Are you using the correct custody model (should you use multisig to eliminate single points of failure)?

🤔What is the current or expected future value of your bitcoin?

🤔What is the safety status of your country/state/city/neighborhood?

🤔What unexpected natural disasters could reasonably put your seed phrases at risk?

🤔Don’t overcomplicate it. Unnecessary complexity is a security threat. You can be your own worst enemy.

Each custody model comes with its own set of tradeoffs:

🔸Singlesig - You only have one seed phrase to secure, but if that's compromised, your bitcoin is compromised.

🔸Singlesig + passphrase - With a passphrase, you avoid the risky practice of using just a seed phrase, but it still allows for single points of failure—if your passphrase is lost, so is your bitcoin.

🔸Multisig - Eliminates single points of failure, but requires multiple secure locations for key material.

🔸Shamir’s Secret Sharing Scheme - Resembles multisig by splitting a single key, but requires a single point of failure at creation and spending time.

Now let's talk about locations for your seed phrases. Here are a few places you should NOT store them:

❌ Out in the open

❌ A drawer/cupboard/shelf

❌ In a filing cabinet

❌ In your bag

❌ At your workplace, unlocked

Here are the best places to store your seed phrases:

✅ Home safe (suitable for SS, SS+passphrase, multisig, SSSS)

✅ A second location on your property (suitable for SS, SS+passphrase, multisig, SSSS)

✅ Safe-deposit box (suitable for multisig, SSSS)

✅ A trusted family member 9 suitable for multisig, SSSS)