The Golden Rule: Not Your Keys, Not Your Coins
If a company holds the private keys to your Bitcoin, they control your Bitcoin. Platform failures such as Celsius, FTX, and BlockFi proved this when customers lost billions.
Self-custody means you hold the private keys. Your Bitcoin. Your control.
1Bitcoin.ca is non-custodial — we deliver Bitcoin to your wallet at purchase. We never hold it.
Bitcoin Storage Options
1. Hardware Wallet (Best for $1,000+)
A hardware wallet is a physical device that stores your private keys offline.
Recommended hardware wallets:
- Coldcard — most secure, Bitcoin-only, Canadian-friendly
- Ledger — beginner-friendly, widely available
- Trezor — open source, reputable
Cost: $100–200 CAD | Security: Excellent
2. Software Wallet (Good for smaller amounts)
A software wallet is an app on your phone or computer.
Recommended:
- Blue Wallet (iPhone/Android) — simple, self-custodial
- Sparrow Wallet (desktop) — advanced features
- Muun Wallet — beginner-friendly
Cost: Free | Security: Good, but phone or computer can be compromised
3. Paper Wallet (Cold Storage)
Write your private key or seed phrase on paper and store it physically. No electronic risk.
Cost: Free | Security: Excellent if stored properly
The Seed Phrase — Most Important Concept
When you set up a Bitcoin wallet, you receive a seed phrase — 12 or 24 random words. This is the master key to all your Bitcoin.
Rules:
Write it on paper, with multiple copies- Store it in a safe, fireproof location
- Consider a second copy in a safety deposit box
Never photograph it- Never type it into any website
- Never share it with anyone — ever
If you lose your seed phrase and your device breaks, your Bitcoin is gone forever.
Storage Recommendations by Amount
| Amount | Recommended Storage |
|---|---|
| Under $1,000 | Software wallet (Blue Wallet) |
| $1,000–$10,000 | Hardware wallet (Ledger/Trezor) |
| $10,000–$100,000 | Hardware wallet + secure seed phrase backup |
| $100,000+ | Coldcard + multi-sig setup or institutional custody (DWM Canada) |
