Nostr Web Client

Setting up a newbie #Bitcoin holder with self custody in the next few days. Less than 2M sats, around $1K value.

Thinking maybe we start with Sparrow for desktop, or maybe BlueWallet on mobile, instead of spending $60-$200 for a hardware wallet plus a steel plate, right from the outset. Would feel a bit like overkill.

He’ll get to learn about private keys and UTXOs this way, and I can also plant the seed (no pun intended) of caution around hot wallets, and explain why internet connectivity presents a small — but real — risk.

And when he stacks harder and/or NGU, we can do a new lesson on HWWs, privacy, offline storage/backups, and perhaps KYC.

Any advice/feedback for this approach? Other recommended software wallets? He bought his corn on CashApp, which I’m pretty certain supports a withdrawal to on-chain addresses (?) and not just Lightning…

I’m still new to user-onboarding with Bitcoin (ie a sit-down meeting, as opposed to setting my bartender with Wallet of Satoshi during a lull in business). So I’m all ears for advice 🫡

#plebchain

#onboarding

#asknostr

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Discussion

CitizenPleb 1y ago

This sounds like a very well thought out, solid game plan.

Yeah, he can send to an on-chain address from CashApp.

What a good friend. 👊🫂⚡️

boston wine 1y ago

Thanks my man! Appreciate you 🤙

CitizenPleb 1y ago

Onward!

Bitcoin and Clyde 1y ago

Nice!

I also like Spector or sparrow is a great too. Nunchuck is a good mobile option with some different key management options (single sig, multi sig, hw devices)

Last I checked CashApp still does on-chain or lightning withdrawals.

Keep it up 🤙🏽

boston wine 1y ago

Thanks homie! I was also thinking maybe a TapSigner for an inexpensive offline option, but I don’t like the idea of starting “screenless” for a newbie who should learn best practices

Satillionaire 1y ago

Personally I would buy a Jade and set them up right. 2 million sats will be big money sooon

boston wine 1y ago

And that’s exactly what has me hesitating about the desktop software wallet approach 😂

But tbh I find the Bitbox and coldcard are both way more user friendly than the Jade, and I still don’t fully understand the idea of the server in place of a secure element.

But those are like 2-4x more expensive. Harder to justify (in a newbie’s mind) when securing $1K compared to seeing a huge NGU pump and thinking “ok wow Bitcoin does THAT so I gotta get the best hww I can”

Don’t get me wrong, I think the jade is dope, but not confident in recommending it to a brand new hodler

NotBiebs and 69 others 1y ago

I’d recommend Blockstream Green for your scenario. You can setup 2fa and it has both mobile and desktop.

boston wine 1y ago

Thanks! Haven’t used it much but will definitely give it a look 🤙

47 1y ago

Sounds like a good plan.

Blue is good. Green would also work. Both nice simple UIs.

Main thing is once setup to delete and get them to restore from seed. This helps drive home what the seed is and why its important to store correctly

boston wine 1y ago

Definitely doing a seed restoration. Perhaps in a different wallet for extra emphasis

47 1y ago

🫡

SecondBreakfast 1y ago

I'd start with Green wallet and setup a multisig account since it acts like a multisig without a hardware wallet. Definitely go with a 2fa authenticator instead of email or SMS and use Tor for privacy

bunny rabbit 1y ago

Shit stain

boston wine 1y ago

A bit more advanced than I’d tend toward for a not-super-technical new user, who has ever heard of Tor and basically just learned what a private key is, lol

Are you recommending multi-sig to compensate for the risks of an online wallet? That’d be an interesting “hedging” approach. I guess it protects against hot-wallet attacks that compromise the keys, but doesn’t help against instances where the receiving address gets spoofed/replaced

SecondBreakfast 1y ago

Easily enough with Green Wallet Tor can be enabled in settings with one click.

Yes it would help against someone getting into the wallet and being able to spend immediately. Of course, you do have to trust Green to give you valid receive addresses. If that's a concern, best to get a hardware wallet to verify the addresses

boston wine 1y ago

Oh that’s a good point. I sometimes forget you needn’t connect the app to the Tor browser with the proxy-port thing like on sparrow, etc

Thanks for the suggestions!

boston wine 1y ago

Also followed #plebchain 🤜🤛

Mark Camper 1y ago

Solid work. Practice some wallet restoring and if he starts asking around privacy, challenge him to try to get some KYC free SATs, and ask how much more he likes them.

boston wine 1y ago

Thanks!

Definitely going to do a “now wipe the wallet, okay, now you can restore it on practically any wallet software with those words”.

And defiitely planning to mention KYC’s issues, and having two “side by side” stacks as an option