Overview

Self-Custody Getting Started Guide

Introduction to Self-Custody#

Self-custody means taking full control of your cryptocurrency by managing your own private keys. Unlike keeping funds on an exchange, self-custody puts you in complete control - but also complete responsibility - for your digital assets.

Why Self-Custody?#

Benefits#

Risks to Understand#

Your Self-Custody Journey#

Phase 1: Learning (Start Here)#

Phase 2: Choosing Your First Wallet#

Wallet Types for Beginners#

Recommended Starter Wallets#

Step-by-Step Setup Guide#

Step 1: Choose Your Starting Wallet#

Step 2: Download and Verify#

Critical Security Check:

• ✅ Official website URL
• ✅ HTTPS connection
• ✅ Developer verification
• ❌ Third-party app stores
• ❌ Suspicious redirects

Step 3: Create Your First Wallet#

Step 4: Secure Your Seed Phrase#

Your seed phrase (recovery phrase) is THE MOST IMPORTANT part of self-custody.

Seed Phrase Security Rules:

1. Write it down - Use pen and paper
2. Double-check - Every word, every spelling
3. Store safely - Fireproof safe or deposit box
4. Never digitize - No photos, no typing
5. Tell no one - Unless planned inheritance

Step 5: Receive Your First Crypto#

First Transaction Tips:

• Start with $10-20 test amount
• Double-check the address
• Wait for confirmations
• Save transaction ID

Step 6: Make Your First Send#

Security Best Practices#

Essential Security Layers#

Common Beginner Mistakes#

Building Your Skills#

Week 1-2: Basics#

• Install wallet
• Secure seed phrase
• Receive small amount
• Send to another address
• Practice recovery

Week 3-4: Intermediate#

• Try different wallet
• Learn about fees
• Understand confirmations
• Explore block explorer
• Set up 2nd backup

Month 2: Advanced#

• Consider hardware wallet
• Learn about addresses types
• Understand UTXOs (Bitcoin)
• Try wallet features
• Plan long-term storage

Wallet Features to Explore#

Basic Features#

Advanced Features#

Moving to Hardware Wallets#

When to Upgrade#

Hardware Wallet Setup#

Self-Custody Checklist#

Before You Start#

• Understand the responsibility
• Have secure storage ready
• Start with small amounts
• No rush - take your time

Initial Setup#

• Choose appropriate wallet
• Download from official source
• Generate new wallet
• Secure seed phrase properly
• Test with small amount

Ongoing Security#

• Regular software updates
• Periodic backup checks
• Address verification habit
• Transaction review routine
• Security knowledge updates

Advanced Goals#

• Hardware wallet for savings
• Multiple wallet strategy
• Understand your blockchain
• Emergency recovery plan
• Consider multisig

Common Questions#

“What if I lose my phone?”#

Your funds are safe if you have your seed phrase. Simply:

1. Get new device
2. Install same wallet app
3. Select “Restore wallet”
4. Enter seed phrase
5. Access restored

“How do I know my address?”#

“What about taxes?”#

• Keep transaction records
• Note purchase prices
• Track dates and amounts
• Consider tax software
• Consult tax professional

Next Steps#

After Mastering Basics#

1. Explore DeFi (if interested)

   • DeFi Security Basics

2. Upgrade Security

   • Hardware Wallets Overview

3. Advanced Storage

   • Multi-Signature Wallets

4. Long-term Planning

   • Inheritance Planning

Emergency Resources#

If Something Goes Wrong#

Conclusion#

Self-custody is a journey, not a destination. Start small, learn continuously, and gradually increase your security as your holdings and knowledge grow. Remember:

• Your keys, your coins - Ultimate control
• Your keys, your responsibility - No safety net
• Knowledge is security - Keep learning
• Practice makes perfect - Start small

Welcome to true financial sovereignty!

Related Resources#

• Hardware Wallet Guide
• Seed Phrase Security
• Exchange vs Self-Custody
• Bitcoin Specifics
• Ethereum & DeFi