Tools
November 25, 2022•307 words
Tested and recommended Bitcoin tools
Key principles:
Not your keys, not your coins
- Use hardware wallet cold storage for bitcoin savings.
- Self-custody 'hot wallet' for small spending amounts on phone. On-chain and lightning.
- Use own node for transmitting and conforming transactions on the network, and monitoring blockchain.
- Use best efforts not to link identity with transactions.
Hardware wallets
I have used the Ledger nano for years, and was my first hardware wallet. Its still a reliable piece of hardware, and i use it with my own node software. However, I do not reccomend using the Ledger software for privacy reasons. The conpany also has a history of not protecting customer data.
Cold Card
The ColdCard js my current hardware wallet of choice.
Software wallets
On-chain
Sparrow (Desktop)
Feature rich, but simple to use app. Features fine-grained coin control with options for maximising privacy or minimising transaction fees. Can be run by conneccting to your home node to further enhance privacy and security.
Blue Wallet (Mobile)
Fast setup of self-custody single-signature and multi-signature wallets on your phone. Also features custodial lightning
Lightning
- Blue Wallet (mobile)
Collaborative transactions
- JoinMarket
Node
For several years, Ive run a RaspiBlitz node. It does reauire some degree of rechnical competence to setup, but is a powerful little system.
Node software ive tested and reccomend:
- JoinMarket
- Mempool.space
- Electrs
Buying Bitcoin in Australia
I typically only use and reccomend Bitcoin-obly exchanges. They tend to be much simpler and easier to use.
Bitaroo
Great for regular buying and getting Bitcoin into self-custody fast. can move from AUD$ deposits to on-chain livhtning withdrawl in a few minutes.
Noable features:
- Auto-withdrawl
- Auto-buy for DCA
- Lightning withdrawl
- KYC :(
Hodl Hodl
Notable features:
- No KYC