I still think the best for a normal single user is hardware wallet with a mnemonic phrase (12 words) + passphrase + PIN ro unlock. You must memorize the PIN to use it but can rexcover without it. Try to memorize the passphrase and save a physical copy in a remote offline location in case you really forget it.
It's also good practice to save the wallet information like derivation path and xpub.
Then from this main strong mnemonic passphrase+password you can derive deterministic BIP-39 wallet for other usages, hot wallet, lightning node or just as encryption password for important stuffs, even maybe derive your nsec for nostr out of one of these sub-mnemonic phrase. Just note well the derivation path and index and use case of each, like in a password manger (without the private keys of course), then you can regenerate all you wallets from one backup+passphrase but individual sub-wallet can never derive back to the master wallet.
Advance users and multiple users of a wallet must use multisign. Use it carefully, with the right hardware wallet and always backup the wallet descriptor with all individual xpub of co-signer, multiple copies are OK, just don't leak it otherwise anyone can track all your transactions past and future (bur never steal your coins).
Eluc
npub1ea…x54mw
2025-04-02 15:40:25
in reply to nevent1q…ck3k
Author Public Key
npub1eaadqhuwn80gatdml02u58q0nd65nx7wqur5je4jwa5gef0p6unqrx54mwPublished at
2025-04-02 15:40:25Event JSON
{
"id": "17deea8e432bef9ce61e34373e3c064f2a38150a45efa019e530a921311171e7",
"pubkey": "cf7ad05f8e99de8eadbbfbd5ca1c0f9b75499bce07074966b277688ca5e1d726",
"created_at": 1743608425,
"kind": 1,
"tags": [
[
"e",
"86219d0e9e990970f0d5176cc9579261745d452e1339a296a30272bca47f8705",
"",
"root"
],
[
"p",
"e83b66a8ed2d37c07d1abea6e1b000a15549c69508fa4c5875556d52b0526c2b"
]
],
"content": "I still think the best for a normal single user is hardware wallet with a mnemonic phrase (12 words) + passphrase + PIN ro unlock. You must memorize the PIN to use it but can rexcover without it. Try to memorize the passphrase and save a physical copy in a remote offline location in case you really forget it.\nIt's also good practice to save the wallet information like derivation path and xpub.\n\nThen from this main strong mnemonic passphrase+password you can derive deterministic BIP-39 wallet for other usages, hot wallet, lightning node or just as encryption password for important stuffs, even maybe derive your nsec for nostr out of one of these sub-mnemonic phrase. Just note well the derivation path and index and use case of each, like in a password manger (without the private keys of course), then you can regenerate all you wallets from one backup+passphrase but individual sub-wallet can never derive back to the master wallet.\n\nAdvance users and multiple users of a wallet must use multisign. Use it carefully, with the right hardware wallet and always backup the wallet descriptor with all individual xpub of co-signer, multiple copies are OK, just don't leak it otherwise anyone can track all your transactions past and future (bur never steal your coins).",
"sig": "5841d66aefb38e09ed98289ada7b03b2284d8596ca72be4cbcc8ee3869a33d202b8dbce839be498a9ad54c8ef341d2de757a5c3532291f7849c263305efc61c6"
}