is it safe to have Bitcoin saved on #nostr client app wallet?
#asknostr
Discussion
What client are you using? Which wallet?
i use primal as client, the wallet i mean the one i see when i click ⚡
Ah, I saw your answer.
That’s the wallet in Primal. It’s a custodial wallet, which means you don’t actually own the bitcoin. You trust Strike (which is the company behind the wallet in Primal) to keep your btc save and give it to you, when you want it. Like a bank account in a way.
I consider it save for small amounts. But not for amounts that are life changing. For that you should use a hardware wallet.
Make sure though that nobody gets your private key. That’s the long mix of numbers and letters with nsec in the beginning. You need to keep that save and a secret.
If you are referring to your primal wallet. Assume not.
Use as fun tickets and pocket change. Keep your wealth in self custody cold storage.
The answer given by Toshi is excellent. I'll just add this: from 75,000 satoshis upwards, Primal doesn't charge any transfer fees. So once you reach that amount, it's best to transfer it from the Primal Wallet to a Bitcoin Wallet that you have custody of. You can create a self-custodial wallet in the Electrum app, which is open source...