It is difficult to trust 100% in any wallet or Hardware Wallet. Since nothing guarantees me with total security that there is no database with all the keys . The best thing would be not to have all the Bitcoin in a single wallet, unless it is an amount that does not represent a danger to the well-being of your economy.
The most secure option for me is the Paper Wallet, with a private key generated from the official #Bitcoin software( Bitcoin Core I think it is).
Paper is a good way. I use multiple Coldcards and Jades. Ledger is just the worst. Trezor as well.
There is no “official” bitcoin software. Bitcoin Core is just one of the most popular (I run it). If you are really worried that wallet providers are logging your keys you can roll your own key with dice.
If we run our own node, is our coin stored safely “there”? Pardon my density…#noob
No. Well not like you are asking. The node is a record of the blockchain going all the way back to the genesis block. It holds the record of every transaction that has ever happened. The sum of all the additions and subtractions (UTXOs) associated with your address / keys is your bitcoin. You don’t own coins but rather a check book balance.
Using your own node means that you don’t have to trust some random one somewhere and privacy.
Thank you. Well said. Node-running is the blockchain ledger.
Yes exactly. So by running a node I can point my wallet to my own node to check my balance and transactions without concern about fakery going on or prying eyes watching.
Additionally nodes enforce the bitcoin rules. If a transaction didn’t follow the rules then my node doesn’t add it to the blockchain records. All the nodes talk to each other making sure everyone has the latest blocks of transactions and that everyone is following the rules. If someone puts out new bitcoin rules I have a choice if I want to use that or stay with the old ones. It’s the consensus of everyone independently deciding what rules to use is how the network updates and defends itself.
I thought I read once that Nakamoto used Bitcoin Core for his first BTC transaction. But he really wasn't sure 🤔
At the moment I don't have that amount of money to worry about the keys 😅 But when that changes, I plan to make my own Wallet, connected to my own node, among other additional securities 😁
So interesting and clearly explained in depth, thank you.
IDK maybe? I mean something had to record the blocks
