When talking about bitcoin wallet security, there are three things to consider:
- the most obvious: theft, either online or in person;
- losing your computer, USB key or papers containing your bitcoin (BTC) data, and
- obsolescence of BTC software.
There are also several use-cases to consider:
- the system you use to spend your bitcoins. This would be a BTC wallet on your smartphone – the equivalent of the wallet that holds your cash and credit cards.
- a system for keeping BTC accessible, but not necessarily in your smartphone wallet â€“ the equivalent of a drawer, box or safe that you keep at home, with cash for emergencies, and
- a system to secure the bulk of your BTC savings â€“ the equivalent of your bank and/or investment accounts.