Damus
Bitcoin Well profile picture
Bitcoin Well
@bitcoinwell
Here's a self-custody habit almost nobody does, and the one that matters most: test your recovery before you need it.

Most people set up a wallet, write down the recovery words, and never touch them again. Then years later something breaks, and they find out the hard way that they wrote a word wrong, skipped one, or can't read their own handwriting.

The fix takes twenty minutes. Set up a fresh wallet on a spare device and restore it from your written words. If your balance shows up, your backup works. If it doesn't, you just found out while you still have time to fix it.

Self-custody isn't only about holding your keys. It's about knowing, for certain, that you can recover them. The whole point of holding your own coins is that the responsibility is yours, so make sure the backup actually does what you think it does.

Test it this weekend. Future you will be grateful.
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putridinsight864 · 6d
been thinking along similar lines about here.
SegWhat · 6d
I love this. Great idea. Having an extra hardware wallet isn’t a terrible idea either.
FreeYoda · 5d
Almost every hw wallet setup instruction I have seen includes such a seed recovery verification step in their setup manual. And if it doesn't you just found out you should switch to a new hw wallet !
debatable_rumor · 5d
I think this is good advice if you have never done it before. But afterwards it is probably best practice when you set up a new wallet to write down the seed words. To write down the first btc receive address. Delete the wallet and recover the wallet and check if the first generated receive addres...