Bitcoin Self-Custody in Canada

Self-custody means you control your Bitcoin’s private keys — not an exchange, not a company, not anyone else. It’s the most important step you can take to truly own your Bitcoin.

Buy Bitcoin and Take Custody

Why Self-Custody Matters

The 2022 lesson. When Celsius, BlockFi, and FTX collapsed, millions of dollars of customer Bitcoin was frozen or lost. Why? Because customers trusted custodial platforms. Their Bitcoin was held by the company, not by them.

Non-custodial = your Bitcoin, always. If a platform holds your Bitcoin, it can be:

– Hacked
– Frozen by regulators
– Lost in bankruptcy
– Restricted during a withdrawal run

Self-custody eliminates all of these risks. Your Bitcoin exists on the blockchain. The platform is irrelevant.

How 1Bitcoin.ca Supports Self-Custody

1Bitcoin.ca is non-custodial by design. When you buy, Bitcoin is sent directly to the wallet address you provide. We never hold your Bitcoin — even for a second.

Step-by-Step: Taking Self-Custody

Step 1: Choose a Wallet

Hardware wallets (best for long-term storage)

Coldcard — most secure, Bitcoin-only
Trezor Model T — user-friendly, open source
Ledger — popular, good mobile app

Software wallets (for smaller amounts)

Muun — simple, Bitcoin-only, Lightning supported
BlueWallet — advanced, open source

Step 2: Set Up Your Wallet

Order hardware wallet directly from manufacturer.
Initialize the device and follow setup instructions.
Write down your 12-24 word seed phrase by hand — never digitally.
Store the seed phrase securely in a fireproof safe or safety deposit box.

Step 3: Buy Bitcoin at 1Bitcoin.ca

Create and verify your account.
Copy your wallet's receiving address.
Paste your wallet address during purchase.
Confirm the purchase.

Your Bitcoin is sent directly to your wallet — no intermediary holds it.

Step 4: Verify the Receipt

Open your wallet and confirm the Bitcoin arrived. Check the transaction on a blockchain explorer such as mempool.space if desired.

The Seed Phrase — The Most Important Thing

Your seed phrase (12-24 words) is your Bitcoin. Anyone with these words can access your funds.

Rules:
– Write it on paper only — never digital
– Store it in a secure, private location
– Make a backup copy stored separately
– Never share it with anyone
– No legitimate service will ever ask for it

Frequently Asked Questions

Is self-custody complicated?

The initial setup takes 30-60 minutes. After that, it’s simple: receive Bitcoin, confirm it arrived, secure the seed phrase.

What if I lose my hardware wallet?

As long as you have your seed phrase, you can restore your Bitcoin on a new device. The physical device is replaceable; the seed phrase is not.

Do I need self-custody for small amounts?

For amounts under $1,000, leaving Bitcoin on a reputable exchange is a reasonable short-term approach. For larger amounts or long-term holding, self-custody is strongly recommended.

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