Depends on the amount you're talking about. Eventually you will want to have a hardware wallet as any amount of bitcoin you hold is worth protecting, but decent ones can get pricey. You can also set up on-chain self-custody using software wallets, and protect the seed phrase by writing it down, never copying and pasting it, or taking a screenshot. BlueWallet and Blockstream Green are both good choices for starting out.
Discussion
See I thought I was setting up a self custody wallet with Muun. I have the seed written down. Trying to decide on a hardware wallet now. Now im doubting I even understand which to buy. Maybe a paper wallet is more simple for me. I just want to hold my btc.
Trezor is the best for ease of use and features.
Jade is solid and cheap.
Coldcard is more expensive, but has more features.
Ledger spends all their money on hiring advertisers.
Thank you 🙏
Of course. Paper wallets are kinda terrible. IIRC the trezor (first hardware wallet) was made after a plumbing leak destroyed paper wallets that were stored in a fireproof safe.
If flood and fire wasn’t a concern, is a paper wallet safest for long term storage? Thoughts?
Paper wallets and seed backups are two different things, in case you didn't know.
Paper wallets are generally considered deprecated at this point, and ahould be avoided. A seed backup, on metal preferably, is highly recommended to secure your wallet no matter what.
I used to give out laminated paper wallets with a sticker over the private key. It’s effective if you’re using an old-format P2PKH address but now I’d prefer to use an OpenDime or stamp a seed plate for long term security.
What do you use the seed plate with? Hardware or software wallet?
You can use it with any BIP39 wallet but your strongest security will come from using a ColdCard or another bitcoin-only hardware device like Foundation Passport.