Different member’s areas – why not just one?

Holding your own keys is easy – there are different ways to do it, depending on how much wealth you have to secure.

Every member’s area holds inside a different bitcoin key security model – all aimed at making sure you never lose your coins, with the amount of work appropriate for different levels of wealth.

Around 15-20% of all bitcoins have been forever lost because people have lost access to their own keys. To make sure that never happens to you, you need two things:

1) Be mindful that losing your backups means losing your keys.

2) Choose the right level of security for those backups.

None of this has to be complicated – you can easily set up a mobile wallet in about 15 minutes.

If you’re looking to secure your life’s savings, perhaps you want to put in a little bit more effort than “just something quick”. How much work – well, that depends on you. This doesn’t (and shouldn’t!) need to be complicated – for most people, just getting a hardware wallet and properly setting up backups (instructions in the hodler member’s area) is quite enough. It takes a few hours, but can be quite enough to secure wealth up into the millions (when measured in dirty fiat).

While there is no technical limit to how much wealth the hodler member’s area instructions can secure (technically it works just as well for billions as millions), at some point in your hodling career the edge cases (“but what if x happens”) may start keeping you up at night.

If you’re ever near that point, you should sign up for the diamond hand membership. It is the ultimate in bitcoin private key ownership – combining the power of both physical and digital key backups, without ever compromising security. It is definitely more work to set up than beginner wallets, so this is not for everyone – but if you’re serious about your bitcoin security, a few days of work to get set for life (and beyond!) is a very small investment.

The best thing about the diamond hand model is the very low “total cost of ownership” in terms of time and effort. The work is front-loaded: 99% of the work is done in the beginning. After that all you need to do is maintain your backups and your record of them – which can be virtually zero effort, depending on how you choose to set things. All of these choices are spelled out in the diamond hand area – you don’t need to reinvent the wheel or figure out what questions you should even be asking – just follow the instructions!