The Bitcoin GuideUNDERSTAND BEFORE YOU ACT
The guide

CHAPTER 01 / WALLETS & BACKUPS

The keys are the
part to protect.

A wallet helps you use Bitcoin. The real question is who can authorise a transaction, and how you recover access if something goes wrong.

FIRST, THE DISTINCTION

A wallet is a tool.
Custody is a responsibility.

Your bitcoin is recorded on the network. A wallet manages the keys that let you spend it. A receiving address is different from a secret key.

SOMEONE ELSE HOLDS THE KEYS

Custodial account

A service controls the keys and manages access for you. Your login is access to that service, rather than direct control of the bitcoin.

You rely on its security, availability and withdrawal rules. Account recovery depends on the provider.

YOU HOLD THE KEYS

Self-custody wallet

You control the keys used to authorise spending. You also take responsibility for keeping them safe and for a recovery plan.

If the keys and usable backups are lost, there may be no help desk that can restore access.

Hardware wallet

A dedicated device designed to keep signing keys separate from your everyday computer. Check the recipient and amount on the device itself before approving.

It does not protect you from every scam. You still need a safe setup, a backup and a trusted source for the device and software.

Software wallet

An application on a phone or computer. A self-custody software wallet keeps keys under your control, but a compromised device can put them at risk.

Install from a source you have checked yourself. Keep the device and wallet software up to date. An app can also be custodial, so check who holds the keys.

Read Bitcoin.org's wallet security guidance

YOUR RECOVERY PLAN

Small words.
A big responsibility.

A seed phrase, also called a recovery phrase, is a backup used by many wallets to restore the keys. Treat it like access to the wallet, not like a password you can casually reset.

Wallet designs differ. Follow the recovery instructions for your exact wallet. Some setups also need a separate passphrase or additional information.

  1. 01

    Record it privately.

    Use the wallet's trusted setup instructions. Keep the words in their exact order. Do not photograph them or save them in email, cloud notes or chat.

  2. 02

    Plan for loss and damage.

    Keep an offline backup somewhere protected from theft, fire and water. Consider how a trusted person could recover access if you are unable to, without exposing the backup.

  3. 03

    Check before relying on it.

    Use your wallet's documented backup-check process. Never enter the phrase into a website or send it to someone to check. Do not erase a working wallet just to test a backup.

KEEP THESE PRIVATE

Support does not
need your secrets.

Never give anyone your recovery phrase, private keys or wallet passphrase. Do not share account passwords or one-time security codes either.

Learn how fake support works

BEFORE YOU RELY ON A WALLET

Your wallet safety checklist.

Use this as a conversation with yourself. If one answer is unclear, pause and learn that part first.

  • I know whether I or a service control the keys.
  • I have checked the source of the device or app.
  • I understand my wallet's recovery process and any extra passphrase.
  • My backup is offline, readable and protected from theft and damage.
  • I know that nobody needs my recovery phrase for support.
  • I check the network, receiving address and amount before approving a payment.

Bitcoin.org: what you need to know

NEXT / CHAPTER 02

Learn to spot the request behind the story.

Scammers often begin with a helpful message. Know what they are really asking for.

Explore scam patterns