The Importance of Traveling with Bitcoin Keys: 7 Tips to Stay Secure
Taking control of your bitcoin keys is crucial for security, but what happens when you need to travel? Should you carry your keys with you, and if so, how can you do it safely? Here are seven tips to help you travel with your bitcoin keys while minimizing risk:
1. Carry only the wallets you need: Segregate your funds into multiple wallets and only carry the keys you need for smaller amounts of bitcoin. Leave the majority of your savings in secure cold storage like multisig.
2. Consider your destination: Evaluate the risks of traveling with your bitcoin keys based on your destination. Adjust your security model accordingly, especially if you’re traveling to a high-crime area or an event where ownership of bitcoin is assumed.
3. Avoid traveling with seed phrase backups: Seed phrases are easier to compromise than hardware wallets, so leave them in a secure location. If you must travel with a seed phrase, take precautions to minimize exposure.
4. Watch what you say and show: Be cautious about discussing your bitcoin holdings and avoid displaying any bitcoin-related items that could make you a target for theft.
5. Create a decoy wallet: Set up a secondary wallet with funds you’re willing to lose to use in duress scenarios. Consider using a passphrase, multisig, or a duress PIN for added security.
6. Consider multisig to eliminate single points of failure: Use bitcoin’s multisig feature to distribute keys while traveling, digitally store seed phrases, or partner with a custody service for added security.
7. Have an inheritance plan: Ensure your bitcoin will be passed on to your next of kin smoothly in case something happens to you while traveling. Consider including a collaborative custody partner in your multisig setup for added peace of mind.
Remember, traveling with bitcoin keys requires additional responsibility, but with these tips, you can stay in control of your funds while minimizing risk. For more information and resources on upgrading your bitcoin security, visit Unchained.com.
