Nostr Web Client

I would not recommend using a wallet app for this if you’re talking about long term storage. Likely you’re talking about a wallet app on a phone or computer that are internet connected. Generating a wallet like that is fine for small amounts or day to day transacting, where you don’t face a catastrophic loss if they get compromised. But for long term storage and large amounts you should securely generate your seed phrase offline and make sure it always stays offline forever. There are multiple ways to do this. But a device like a coldcard makes it easy to do, and to generate addresses to send the sats to for storage. The seed phrases are standard BIP39 and can later be imported into any other BIP39 wallet.

Keep your setup no more complex than it needs to be for you.

516add19... 2y ago

I understand now. My issue was not understanding the seed phrase should be created offline only. 🙏

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Discussion

corndalorian 2y ago

Yea, for this particular situation where you’re wanting something safe and secure for long term storage, that is going to give you the most peace of mind because you had the most control over the process. For day to day use and small amounts, using something like the BlueWallet app to generate those wallets is fine. And even BlueWallet allows you to incorporate things like coin flips or dice rolls to create more entropy when creating those wallets. Coldcard does that too, but again does it all offline, whereas something like BlueWallet is doing this all in an online device.

corndalorian 2y ago

And no matter how you create a new wallet, always test it first with small amounts. And test recovering it. Do all that before you send large amounts to it.