Pillar: P — Privacy / Digital Sovereignty · ← All Protocols
About this protocol
This protocol covers holding your own crypto instead of leaving it with an exchange or another third party. Self-custody means you control the private keys, usually on a hardware wallet that keeps them offline.
It also means you are responsible for your own backups and recovery, so the wallets below are chosen with open-source code, offline keys, and recovery features in mind.
I’m a layperson, not a doctor, financial advisor, or lawyer. Nothing here is advice. Do your own research and talk to a professional about your own situation.
Products & Services I Use
Trezor
What it is: A hardware wallet with open-source software that keeps crypto keys offline.
Why I use it: Trezor is open source, which means that the code is auditable by anyone. The Trezor Safe 7 has hardware which is described as post quantum and is open source. I have seen many smart people discuss the benefits of open source. Trezor is also the creator of the first ever hardware wallet. For my crypto security, I have chosen to trust Trezor for these reasons. I also simply think that the idea of “open source” is neat. It appeals to the way my brain works.
Sources: Trezor, What does quantum-ready mean?; Meet Trezor Safe 7.
Bitkey
What it is: A Bitcoin self-custody wallet from Block that splits control across a phone app, a hardware device, and Block’s servers.
Why I use it: I also store some of my Bitcoin on Bitkey. It is split between Bitkey and Trezor. Bitkey was created by Jack Dorsey, and is a multi-sig wallet, with a built in biometric. It also has a built in inheritance feature, and is open source. I think it is neat, and it also appeals to the way my brain works. The idea of having a form of money secured by a hardware device and biometric feels anti-establishment and futuristic.
Bitcoin
What it is: A cryptocurrency with a fixed supply that can be held directly by its owner.
Why I use it: The concept of a form of money that can be sent anywhere in the world at any time without requiring the consent of a middle man is appealing to the way my brain works.
Zcash
What it is: A cryptocurrency that offers shielded transactions, which can hide sender, receiver, and amount.
Why I use it: I reason that my financial life is more digital than it was for any of my ancestors. As artificial intelligence advances, it seems that it could be used to track transactions in a way that becomes dystopian and controls the rights of the people. I see Zcash as a hedge against that kind of dystopian surveillance.
