How To Hide Your Bitcoin From Thieves (Decoy + Hidden Wallet)

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In this video, I teach you how to create a Bitcoin cold storage setup that can be used to thwart thieves.
You first set up a standard Bitcoin hardware wallet and add a small amount of money to it as a decoy.
You then create a hidden Bitcoin wallet using a passphrase on that same hardware wallet device. It is in this hidden wallet that you want to store the bulk of your Bitcoin savings.
That way, if a thief gets hold of your hardware wallet, he can steal the small amount from the standard wallet, and remain totally unaware of the larger amount that is hidden inside the passphrase version.
This may end up saving both your life and your Bitcoin, if the thief is satisfied to walk away with his winnings.
An even better solution is to use multi-sig cold storage to store large amounts of Bitcoin:
• Best Way To Store Larg...
Not investment advice! Consult a financial advisor.
Trezor hardware wallet:
trezor.io/
Blockstream Jade hardware wallet:
blockstream.com/jade/
Coldcard hardware wallet:
coldcard.com/
2020 Ledger hack:
/ 1405572965480153095
Recovery seeds:
trezor.io/learn/a/how-to-use-...
Trezor Suite:
trezor.io/trezor-suite
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#bitcoin
#hardwarewallet
#coldstorage
Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.

[@Bitcoin_University]

WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Trader University from the imposters. Follow me on Twitter @mattkratter

[@goodjuju4531]

Matthew, I enjoy watching Coin Bureau's video's on what's happening in the world. His new one today was great about bank BAIL-IN's....ASIDE...calling ETH decentralized. He's telling his viewers / followers to store their money in BTC, GOLD / SILVER and ETH!!!! Please stop the madness. Please call him out to correct his wrongs. I like Guy a lot for his research about world economics, etc.. but you can save a sh*t ton of people by correcting him. Thx for the videos, always. -Piggy

[@jasonstaub3045]

Ps. You my friend are the Gold Standard of this community. And ty ❤

[@MrTrigz]

Big Fact Big Matt

[@codycast]

The irony of bitcoins using the term “gold standard” :-)

[@CorwinYoutube]

I agree!

[@Mafiakitty]

He's the Bitcoin Standard of this community.

[@kunit15]

Amen. Mr. Kratter is the best. 100%.

[@dmpath]

Protip: do not store your seed phrase and passphrase in the same location. Also do not tell everyone how much bitcoin you have. If you do you can unwittingly become a target.

[@Bitcoin_University]

Yes, great points.

[@samueladams584]

If a device is damaged or fails, is there a list of devices which would be able to restore the wallet that includes a option for the password option ? I have not seen this clearly explained during my research.

[@Steve.191]

Thanks 👍

[@jaromor8808]

10/10 Explanation! Thank you!

[@azdjedi]

Should make a hidden wallet in BTC and a normal wallet in ETH so the thief can take your ETH instead haha

[@Sirdoming]

Thanks for your videos. 👍🏻

[@stephenspalding8856]

Nice review of the hidden wallet functionality for Trezor!

[@elsamariasorforger5788]

you are f the best,,thank you

[@johnbethea4505]

As an older person, I believe that a lot of money would come into crypto if we could understand the things that you are talking about.

[@fusion9619]

It'll take sustained attention for a while. I've been trying to explain it to some older relatives, and it's like every time I see them I have to start from the beginning again. They like the conversation, but don't care enough to focus for a few weeks on their own. There's an "aha!" moment where it clicks into place, but you have to do the work to get that. Start with understanding SHA-256, then when you know how that works, learn how to use PGP. The action of encrypting and decrypting, and the realization that you can use that to prove veracity of documents, will give you the basis to actually understand why Bitcoin is a discovery, not an invention, and why it's unstoppable.

[@haha_8]

is ledger quite safe at the moment or better replace it with trezor asap?

[@Klaasvaakify]

Thank you sir! Was just thinking about this the other day when I opened my cold storage

[@Acd1217]

Can you change the secret pass phrase? Thx 🙏🏻

[@bitnova5]

Awesome vdo Matthew! 🙏🏻 thanks!

[@Tweston3ny]

Is ledger 24 words, and BlueWallet 12? Thanks 🙏🏼

[@doctorona]

Thanks Matthew! Always great info coming from you!

[@Bitcoin_University]

I appreciate that!

[@tommyleblanc1336]

What do you think of the Arculus cold storage wallet??

[@Bitcoin_Shango]

Thanks for uploading, Mr. Matthew

[@jad1497]

Good info as usual

[@Bitcoin_University]

Glad you enjoyed it

[@SchuCapital]

Thank you for adding so much value without a paywall to discuss topics few in the community are willing to discuss.

[@karmaygurung4535]

can you make a video on Taleb's Bitcoin Black Paper

[@sc4332]

Is there an option where you can add a second pin and access the hidden wallet direct? Ledger has this option.

[@mikegilstrap1624]

So when I enter my seed phrase+pass phrase it will create a completely new wallet? Separate from my hidden wallet?

[@user-td1lu8su8g]

split your passphrase into 2 groups you can use odd even its up to your combination etc etc.

[@mostly-harmless]

can we get a cold card version of this video?! :D

[@SomeGuy-ws5zj]

One very important issue is that you should always order these artifacts DIRECTLY from the manufacturer to ensure they are not tampered with. as well as cell phones.

[@retrobeaver167]

Just ordered a Trezor; I'm pretty sure Ledger leaked my info a few years back.

[@bebitcoinize]

Simply the boss Kiss from France

[@Bitcoin_University]

Merci.

[@charlesmiller6281]

There's an even better case for hidden wallets: business accounting! Any number of hidden wallets can be created. So you could have one for one each product, or service, or business, or customer. However you want to do it. You could make one savings, another checking, a third retirement, and so on. Just like at any brokerage or bank. Bitcoin really does make you your own bank!

[@jimmychoi7862]

Thank you Matthew. Without sounding stupid, could anyone please advise me on what is the benefit of running a node? Thank you

[@Paul-jp8zz]

As always, great stuff! I found myself thinking, around the 12 minute mark when you were talking about amounts in the hidden vs. normal wallet, and you kept referring to the amount in dollars.. I thought "He should be denominating in Sats!"

[@Bitcoin_University]

Yes, you're right. Old habits die hard.

[@leslieguinn6157]

Well done..🧡👑🦅🚀♾️🤠🗽

[@tommoore4717]

Does Trezor allow more than one hidden wallet?

[@420bobbob]

Yes as many as you want

[@TomRaine]

Do you still recommend to use trezor after all the bad press?

[@Bitcoin_University]

No. I now only recommend Bitcoin-only wallets like ColdCard and Blockstream Jade

[@gasohwjchen]

Pls do a video on how BUSD will affect Bitcoin Sir. 🙏

[@chickenfactor6500]

From what I understand using a passphrase is more secure than 256 bits because it adds an xfp to the end of the xpub (256 bit master key) so it's not like your funds could be accessed with some other seed phrase, is this correct?

[@thinkblue8089]

This is my exact setup. I love the trezor. I think it combines security and ease of use. I used to worry someone will break into my place and get my seed phrase (even though I have it hidden). Now with the passphrase enabled, I don't worry about that. I still worry that someone will guess my seed phrase but again the passphrase also protects against that. Great vid. Thanks.

[@simbiotik8480]

Someone guessing your seed phrase 🤣

[@wsemenske]

Why would someone be able to guess your seedphrase? That's impossible unless you chose something non random, in which case yeah you should be worried

[@derek.seaborn]

If your seed phrase was generated randomly with sufficient entropy, guessing your seed phrase is literally impossible. Look up what 2 to the power of 256 equals, and tell me if you think that’s guessable.

[@thinkblue8089]

@@derek.seaborn what about someone's new wallet generating the same seed phrase as mine? I know all these scenarios are highly unlikely but not totally impossible.

[@johnnyblackrants7625]

@@thinkblue8089 About as likely as... well, nothing really. Look up the math, then divide by whatever you want. Say 70 billion, everyone making 10 wallets. It's still an astronomically small amount.

[@taxxxiddriver]

Tudo pago pelo contribuinte.

[@ezp721]

10:18 "I can put a small amount of money here".... proceeds saying "10k or 20k....". The moment I realize how poor I am LOL 🤣. Great video! Thanks for share!

[@moea7384]

Your not poor G. You will get there. keep learning this knowledge and when you get there you'll know what to do. Knowledge is more important than wealth.

[@ezp721]

@@moea7384 Thanks for the words. I agree, knowledge is important and I'm trying to acquire as much as I can 👍

[@moea7384]

@@ezp721 I hope ur pockets grow G 🙏

[@Bitcoin_University]

@pabontrial Keep working hard, saving, and allocating to BTC and you will get there. I'm probably a lot older than you.

[@anticharlatan5823]

If you're spending over $200 USD on a hardware wallet, for plausible deniability you are going to need five to ten times that amount in your decoy wallet. It would make no sense to have 20 dollars in it, that would be a red flag that it's a decoy.

[@jansasha2628]

What about if Trazor with passphras got lost, could then I use another company like cold card ...?

[@Bitcoin_University]

Yes.

[@susiebonham3167]

Can one do this on Tangem 2.0?

[@samueladams584]

No.

[@rogervonburg4403]

Excellent as usual Matthew. Question: Can funds (BTC) be “internally”moved between standard and hidden wallet ?

[@fusion9619]

Yes, you can move funds like a normal transaction. You can even move funds within the same wallet by creating a receive address and sending to it. Experiment with it with some tiny amount.

[@rogervonburg4403]

@@fusion9619 Thank you very much Fusion ! 🤗

[@Bitcoin_University]

Yes, but it's not "internal." You have to do a regular Bitcoin transaction onchain.

[@rogervonburg4403]

@@Bitcoin_University Right... Thank you ! 🤗

[@MauveTendingToBeige]

Only the firmware is close source on ledger. The client and apps are open source. The firmware is close for the reason that nobody can alter it and so "upgrade" the device with a backdoor.

[@spx730]

I wish all engineers also did more double bottoms in all apps

[@QDogg]

Thank you for helping the millions "AND MILLIONS" of plebs to secure their financial future!

[@dww7884]

How many times do you get to try for the hidden wallet before you are kicked out. Or is there a limit?

[@Bitcoin_University]

It's unlimited.

[@TheChadWork2001]

How is Trevor considered a cold wallet when it has to be connected to a computer with Internet access to read and communicate?

[@IDontThinkSooo]

So Trezor is open source ....and better security on a cold wallet aspect ? ...

[@prasun6084]

Coldcard is open source except for "SE chip" code that protect against physical attack. Trezor going to be same soon. Open source is the standard here for this new world.

[@yogawithandy]

I think that expert scammers already know this routine. The bigger question is whether or not it would be possible for bots to guess hidden wallets. From what I understand each time a secret phase is entered, if it doesn't exist then a new hidden wallet is created. So, what I am suggesting is would it be possible for a super smart bot to bypass the creation of a new wallet and that the Trezor lets the bot make a trillion guesses. This way, a quantum-ish computer will eventually guess your hidden wallet(s).

[@po3407]

Great video. Really appreciate your content. Question: what’s your take on the Ellipal Titan wallet? Does the air gap make it any more secure?

[@Bitcoin_University]

Ellipal's firmware is not fully open source, so that is a deal killer for me. Air gap is good, and ColdCard has it.

[@gusgalvanini]

GOod morning Matt, --Algorythm trigger, get the messeg out there, bla bla bla, Let's gooo!!!

[@luv2stack]

Really regret not getting a trezor instead of ledger

[@1greenMitsi]

I chose the ledger for stealth as it looks like a regular flash drive

[@ellerellerek52]

Well, trezor has its seed phrase shown on your screen so you have to be sure that your PC is free from any malware, you don't have to worry about it with ledger ;-)

[@mikeharrington5593]

Does the Trezor wallet have a recoverable log of transactions which could indicate to a viewer any transfers to a Hidden Wallet - thus indicating it is in use ?

[@dimitarzlatanov1749]

Can you do this on a Ledger or Jade, or it's just a Trezor feature?

[@Bitcoin_University]

Yes, you can do it on most hardware wallets. Any wallet that is bip39 compliant.

[@dimitarzlatanov1749]

@@Bitcoin_University I meant the hidden wallet.

[@Bitcoin_University]

@@dimitarzlatanov1749 Yes, you can do the hidden wallet on any bip39 compliant wallet. So for example, you could restore a Trezor hidden wallet onto a Jade and vice versa.

[@dimitarzlatanov1749]

@@Bitcoin_University thank you 🙏

[@milesteves]

Hi Matthew. Solid video, as always. I greatly appreciate the work you are doing. There is a topic I would love for you to discuss. Forgive me if you have already addressed in an earlier video, but perhaps it may deserve a video all to itself. It is the issue of transparency/privacy. I heard someone recently mention that Monero is ultimately a better currency because, unlike Bitcoin, your purchases are not traceable on it's blockchain. Is this true? Can we be searched for and 'found' by our real world names or some other means on the Bitcoin blockchain by entities like the US Government or even ordinary crypto-savvy criminals, and then all of our transactions seen, tracked, taxed, punished, etc? What precisely is our level of anonymity in Bitcoin? Thanks!!

[@BobE_Nagesh]

Great material as usual Matt. Thanks! Question: I have a multisig setup and am in the process of running my own node. Can I link my multisig to my node?

[@YuriyLopotun]

Many thanks for your videos Matthew! At the end of the video you brought up a point I was thinking about for a while: what if I "get hit by a bus"... How to make sure I don't take my Bitcoin to the grave? The stronger the security setup is, the harder it is to pass it to someone else... Especially when the kids are still too young, the wife and the parents aren't very tech-savvy... You mentioned that you dedicate a paid course to this subject, but maybe you could share some of your thoughts about this in a public video? Thanks again, watching you daily!

[@bnjmn_smth]

Agreed. Inheritance protocol is my biggest concern as I make things "more secure".

[@Acid31337]

Or you can just change your mind on inheritance itself. It is most unfair, crony-feudalist wealth redistribution mechanism ever existed. If bitcoins just get lost, value is redistributed for everyone holding bitcoin in a form of deflation, rather than to specific person.

[@Luckyboyee777]

I would take it one step further. Create a second hidden wallet. The standard wallet will satisfy a thief that doesn’t know better but in case of a wrench attack they could ask about your hidden wallet. Store a slightly larger amount of bitcoin there in case they torture you for a hidden wallet. Give up the hidden wallet and pray they don’t kill you or torture you more for a second hidden wallet.😂 the more bitcoin you have the more you have to scale this up to protect it.

[@charlesmiller6281]

Actually if you are so worried then a much better solution is multi-sig. This doesn't even have to involve another person, but no one will know that but you. Simply store another wallet somewhere with two sigs required. The second one can be anywhere, you can tell a thief it is located out of state, doesn't matter, point is no one can do anything without both sigs. I think these thief scenarios are overblown. But if you're really worried that's what you do.

[@Zenothemaximalist]

Thanks Matt! Nice vid as always. Was thinking why is ledger not open source? If they were more people would use them... So why? after your ask yourself thinks like that and are using a ledger... how can you sleep well?

[@reyreyrey9478]

when we type our recovery seed, is it possible that trezor can see and know our recovery seed?

[@planttheseed2129]

How do I create these decoy hidden wallets in a Multi sig configuration with say Casa or Unchained Capital?

[@Bitcoin_University]

Any hardware wallet in a multi-sig configuration can also contain a separate hidden wallet created by adding a passphrase. However, if you're using multisig already with Unchained or Casa, there's not much reason to add a passphrase wallet.

[@planttheseed2129]

@@Bitcoin_University I understand Matt, however, I am trying to protect agains someone stealing my seed phrases.

[@beatroot_red]

Can the hidden wallet be restored using a seed?

[@Bitcoin_University]

Yes, you'll need your recovery seed plus your passphrase

[@beatroot_red]

@@Bitcoin_University thank you, do other manufacturers offer that feature or is that a trezor exclusive? Would I then need to get a trezor device to restore it completely?

[@Bitcoin_University]

@@beatroot_red It's part of the Bitcoin protocol, so can be accessed through most wallets. My favorite wallet is the Coldcard these days

[@summerbreeze5115]

Sir can we have under 18 student offers on your courses?🥺 I am from india

[@ellerellerek52]

Hi Matt, would you change your mind about Ledger if the company one day decided to have open source firmware?

[@Bitcoin_University]

Yes.

[@walecious1]

If the 12 seed words are for the standard wallet, how do we recover the hidden wallet if Trevor goes belly up?

[@Bitcoin_University]

You can use the same 12 words plus your passphrase on almost any other hardware or software wallet. So you don't have to worry about what happens to Trezor

[@JenniferAnh999]

do you think btc can go up to 650- 1 millions? that what people rumors .... would like to hear your thoughts

[@jamies6781]

Great info as always, Matthew. Curious if all (or most) bip39 wallets have this passphrase capability. For instance, if you lost or damaged your Trezor, could you restore your secret wallet on another type of hardware wallet as long as you had the 12 words plus the passphrase? Thanks for all you do!

[@Bitcoin_University]

Yes, all bip39 wallets allow you to use a passphrase and to restore as you mention.

[@sabaskitchen5924]

Great video and education. Had no idea that Ledger Nano x or similar isn't favourable. Understand why now. Assuming seedphrase can be transferred to Coldcard or Trezor . Excellent hidden wallet idea...

[@sabaswayoflife]

Just want to double check Matt that the above reply is from you, rather than a scammer identifying as you..

[@asge0649]

How does it work as a separate secret wallet, with only an added passphrase and not a new seed I don't get it xD

[@Bitcoin_University]

Adding the passphrase essentially creates a whole new wallet.

[@mr_digdeeper]

Interesting your trezor is 12 words… I was never given the option lol I’m 24

[@Bitcoin_University]

I think Model T does 12 words by default and Model One does 24 words.

[@Chuck-be7ed]

$5 Wrench Attack?

[@Bitcoin_University]

Use multisig and don't tell anyone that you own Bitcoin.

[@1greenMitsi]

ironic that your profile pic is the steelers

[@707vegan2]

Thank you Mathew! I can memorize 12 words 24 I would need to tattoo myself. Ha

[@MrTrigz]

Hey Matt.... the guys at Everything Money just put out a video talking crazy.....

[@GenericMeme42]

Does this pass phrase wallet apply to regular Bitcoin wallets as well? Say I wanted to recover my wallet onto a different brand or software, how would it work?

[@jad1497]

Yes, if you know your seed phrase, you can recover on any other wallet.

[@piaeichberg]

Hi Matthew, does this mean that if for example I set-up my hardware wallet initially on Trezor and then I subsequently loose my Trezor that I could also use the recovery seeds from the Trezor wallet on a coldware wallet?

[@fil9574]

How to make a ‘thief’ happy? There needs to be a way to PREVENT a ‘thief’ from watching this video and get to know there is a hidden wallet. If he does know there is one hidden, you have an ‘unhappy’ thief.

[@STP134]

Matt, Great video. I am a little bugged that you can buy a Trezor through their Amazon store. C'est la vie, I guess.

[@Bitcoin_University]

I would use Trezor's website instead. Or just get a ColdCard.

[@STP134]

@@Bitcoin_University Can't tell you how much I appreciate your help in navigating this aspect of the world, Matt! I will take your advice. Some credit cards struggle with international transactions. Who would have known?

[@milesteves]

Hello? Is anybody home? Is my question difficult to answer?

[@bisty111]

So does the wallet give you a second seed phrase for the hidden wallet? Or is it still accessed with the same seed phrase? Basically I’m wondering if the hidden wallet is something created by Trevor or if it’s a feature of all Bitcoin wallets.

[@Bitcoin_University]

It is accessed with the same seed phrase. It's a feature of all bip39 compliant Bitcoin wallets.

[@bisty111]

Thanks for the response, Im surprised I never knew that after all this time. Love your content!

[@mykedoes4099]

When Binance goes under you know why

[@simbiotik8480]

Just a suggestion...you are either touching the microphone or thumping your desk or something. It's distracting especially when you listen on headphones.

[@Bitcoin_University]

Just this video, or most of my videos? I appreciate the feedback.

[@simbiotik8480]

@@Bitcoin_University I noticed it a lot with this video... perhaps because I was wearing headphones. If I notice it again i will let you know. Keep up the good work. 😊

[@Bitcoin_University]

@@simbiotik8480 I think it's because I had the Trezor on my desk and kept picking it up and putting it down. So shouldn't happen again in videos unless I am using a hardware wallet. Keep the helpful feedback coming :)

[@Syntaxstic]

Shit I have a ledger nano

[@travisprice1325]

Here's how you hide it... don't tell anyone you own bitcoin and how much.

[@hxn9264]

How do you recover the hidden wallet if one day Trezor is out of business and you lose or damage your trezor hardware, can you still recover your coins from the hidden wallet with other hardware devices such as ledger nano x?

[@ArnoldSommerfeld]

Not an issue. If your trezor wallet is damaged or lost, just buy a new trezor wallet and it will work as before: enter the 12 words from the old wallet, and your passphrase, and you will see the hidden wallet on the new trezor. (As someone who owns multiple trezor wallets, for backup purposes, I can attest that it really works.) Probably works the same on ledger nano x, but I don't own a ledger, so can't say.

[@firstnamelastname-oy7es]

You don't need a hardware wallet to recover your private keys. The words themselves are your bitcoin wallets 256 bit private key. So if your wallet is broken, and all these wallet companies are out of business, you will still be able to access your bitcoin and send and receive it. All you need to do is look online for the word list, that shows what number each word represents, and then you can put those 12 or 24 numbers together to make the full number, which is the private key. Each word is a certain number of bits. And the 12 or 24 words together will be the full 256 bits. You can then use the private key to generate a public address. But be careful where you put the private key, because anyone that has it can spend the bitcoin at that address. As long as you have the private key, you have access to the bitcoin.

[@jpol999]

Can you make a pass phrase wallet after you’ve already set up regular wallets on the Trevor? In other words, I didn’t set it up like this originally but I am using a Trevor for all my btc thanks

[@Bitcoin_University]

Yes, you can always add a passphrase wallet. It will use the same recovery seed then you just add a passphrase.

[@urayys]

I understand that 12 words to guess is complicated, but why wouldn't you use 24 words as it is harder to hack if it ever came down to it?

[@starsthedog]

I hate to hear that a ledger is not secure enough. I felt that I secured my btc well, now I'm not sure anymore

[@Bitcoin_University]

It's probably OK for now, but it involves trusting the company, since you cannot audit the code.

[@slightlyfaulty]

Matt, you're one of the most respected educators in the Bitcoin community, which is why I'm puzzled when you suggest that putting your life savings in a single-sig wallet is a reasonable thing to do.

[@Bitcoin_University]

My biggest goal is to encourage people to take their Bitcoin off the exchanges and do self-custody. Single-sig is the best way to start. I don't want the complexities of multi-sig to make people give up and do nothing and just leave their BTC on an exchange. I do mention at the end of the video how I use multi-sig to store my own Bitcoin. You are right-- multisig is probably the best way to go, but even I didn't go there first. I started with single sig.

[@slightlyfaulty]

@@Bitcoin_University I agree. Teaching people to self-custody instead of trusting exchanges is the most important thing.

[@melwoods-ml7nc]

@@Bitcoin_University matt, we like it that you keep things simple for us beginners.

[@dustincheatham7348]

I have a ledger Nano X but after this maybe I should purchase a Trezor? Can I setup the Trezor at the same time as my Ledger? always more too learn but more importantly to understand. Great Video as always.

[@digital_gravity]

Yes. You could import your seed into another device and sign transactions from either. You just got to keep both devices safe.

[@Bitcoin_University]

@@digital_gravity If there turns out to have been a Ledger vulnerability, using the same seed on another device won't help. Much better to start fresh with a new seed.

[@digital_gravity]

@@Bitcoin_University Fair enough. I was looking at it from the angle of "is it possible?"; but from a security perspective it is better to have a new seed and transfer coins.

[@weslee511]

Maybe focus on Bitcoin only wallets?

[@Bitcoin_University]

Yes: ColdCard and Blockstream Jade. I should have made that point more clearly in the video.

[@weslee511]

@@Bitcoin_University I would like to see a vid on the Passport wallet from Foundation (i think its called). Think its like a coldcard but fancier looking and easier to use?

[@sinticlase]

Why use a hardware wallet at all? Why not a brain wallet?

[@fusion9619]

Trezor is not an option for three reasons: first, they support shitcoins. Second, they use a web interface. And third, it requires using a USB connection. All of these increase the risk of being attacked.

[@masonguritz6758]

I would need about five wallets if I had $20,000 worth of bitcoin

[@Bitcoin_University]

Not necessarily. You could store all of it on one hardware wallet.

[@sc4332]

I don’t think it’s ideal the app shows the words hidden wallet. No need to highlight this fact.

[@keithfaulkner1288]

Thanks again Matt. I have two people I share all this info with. Sometimes I wonder if that’s one to many. Do you have a recommendation for a stainless steel seed plate? There are so many of them. And what would you recommend I do with it once I put my phrase in it. Bury it under a rock in the woods or a 200 year old oak tree? I think anywhere in my house is not a good idea.

[@Bitcoin_University]

Definitely don't bury it-- the ground shifts over time. Even smart pirates and squirrels lose their treasures that way. I like the hole-punch type seed plates, rather than the ones with tiles that can fall off.

[@keithfaulkner1288]

@@Bitcoin_University thanks again. As a bonus. Punch type are the least expensive.

[@JenniferAnh999]

thanks for very helful video, very helpful in deed. can you help me out with this confusing, set the wallet as hidden wallet , if your trezor got spoiled how could you import it to ledger/ keystone as it has pass phrase? In this case assume that import the hidden wallet into keystone wallet - keystone has 24 seeds .. so how it work?

[@markdelej]

What happens if you lose your trezor and trezor go bankrupt. How do you recover the wallet with the password if other branded wallets dont allow for the password? The 12 words will only get you to the standard wallet

[@Bitcoin_University]

Other bip39 wallets will allow you to import 12 words plus your passphrase. It's a Bitcoin-thing, not company specific. Buy two hardware wallets from different makers and test it using small amounts of money.

[@zackhighland7287]

It's a mystery to me, why all the hardware wallets, at least the Swiss BitBox02, use a 24 word seed. While 12 words would be more than enough. Noting or memorizing 24 words is really an effort. 12 words would be more comfortable, and less vulnerable to errors made by yourself.

[@Bitcoin_University]

There are ways to do 12 words on almost every hardware wallet. Not sure about BitBox.

[@giteart]

what happens if I forget my pass phrase for the hidden wallet? How can I gain access to it again?

[@Bitcoin_University]

Then any BTC in that hidden wallet is gone forever.

[@pepsico815]

The main FUD I've been seeing lately is that "only a small number of people are generating all of the Bitcoin addresses" thus trying to discredit Bitcoin's adoption. Can this be debunked?

[@firstnamelastname-oy7es]

It's a criticism that doesn't make much sense. The amount of wallets used is no indication of adoption. You can use as many wallets as you want. If you're paranoid about someone guessing your private key and taking all your bitcoin legally, you can create 100, 1000 or 10,000 wallets, and split your money up evenly among them all. Stores and services might use a new wallet for each customer that they have, so they know who to credit services and supplies to when they receive bitcoin. The wallets can be and are sometimes used as a one time use throwaway. It's hard to measure public adoption of btc, the market price could be one indicator, but it's hard to read.