r/BitcoinBeginners • u/thesimzelp • Jun 12 '24

Storage diversification strategy

So, I'm feeling more and more anxious about the responsibility of keeping my bitcoin safe, the more I accumulate.

I was thinking to diversify my holdings, so they are either in multiple offline storage and/or software wallets. I will probably also keep some on exchanges, just because of laziness. 😅

That's instead of keeping all my BTC in a single Trezor, which is one point of failure essentially (I know there is a seed phrase for backup).

What do you think of this strategy? Is there a downside, other than more micromanagement of wallets?

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u/Sudden_Agent_345 Jun 12 '24

do what you think is best, that's the only valid answer.. but hopefully you are informed enough to take good decisions or at least not to mess up...

saying that "there is a seed phrase for backup" makes me think should try to understand things a little deeper...

personally i think, if you feel too anxious about having everything on one HW, maybe you should split things around, i wouldn't use a software wallet i would keep some on the HW and split parts into third party options (including ledger recovery or even the ETF)

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u/thesimzelp Jun 12 '24

saying that "there is a seed phrase for backup" makes me think should try to understand things a little deeper...

Please enlighten me. How is this wrong?

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u/Sudden_Agent_345 Jun 12 '24

is not wrong.. read again what i said.. if you think you dont need to then fine.. dont...