The importance of self-care (podcast)

Taking care of your own crypto through self-custody is the epitome of the industry and has been its core proposition since Bitcoin was first introduced to the world.

Not your keys, not your Bitcoin.

This is a saying that anyone who has been in the industry for more than a few weeks has heard, and it’s powerful for a reason. Crypto provides us with a means to take full control of our funds without the need to use centralized third parties.

But make no mistake: self-care comes with certain complexities, challenges, and even risks. In this critical process, hardware portfolios take center stage. That said, on today’s episode we have Matej Zak, the CEO of Trezor, the maker of the world’s first hardware wallet.

Hardware wallet making – what does it look like?

It’s safe to say that the cryptocurrency industry has changed tremendously in recent years. But if there’s one thing that remains the same, it’s surely the need for improved security and self-care. This is what everyone hears when they take their first steps into Bitcoin or most other legitimate altcoins.

Being able to store your funds in a way that makes them completely inaccessible to any third party is powerful, but also difficult.

Trezor’s growth over the past five years demonstrates the need for self-custody. Zak shared with us that the company has grown from a team of 30 people to over 200.

Some of you may not know this, but Trezor is the company behind the world’s first hardware wallet, the Trezor Model One, which was introduced on July 29, 2014. Fast forward ten years and the company now it has introduced a wide variety of devices. intended to make the journey to self-storage much easier, less risky and more convenient for the end user.

How to Store Your Crypto: The Right Way

We’ve all heard horror stories of people losing their coins to scammers signing a malicious transaction or simply entering their initial phrase into a compromised third-party app.

But it doesn’t have to be that way, as long as you have the proper understanding of how to properly tackle self-care. Zak talks at length about some of the most important tips that beginners should keep in mind when starting this important journey.

Make sure you really understand what self-storage is all about and how cryptocurrency storage works. You don’t need to be an engineer, but make sure you understand the basics.

There are many resources for beginners to familiarize themselves with some of the challenges of self-care. We’ve designed a special must-read guide, and you can find it here:

9 Tips to Secure Your Bitcoin and Crypto Wallets You Must Follow

Zak also outlined key tips such as writing your opening sentence and keeping it 100% offline, safe from access by others. The point is to familiarize yourself with this combination of healthy practices. He also explained that Trezor is built in a way that guides users through the onboarding process.

Another important consideration is the ability to recover your wallet if you lose your keys. Trezor’s CEO explained that they had built-in seed phrase recovery methods that they had created, which involved sharding the seed phrase and defining parameters that would allow you to access your wallet given that you get the minimum requirements.

For more information, as well as alternative ways to store your priceless keys, tune in to the podcast.

The four-year cycle theory around Bitcoin’s halving

Since the Bitcoin halving just happened, it only made sense to talk about it as well and how it might affect the market going forward.

Zak confirmed that Trezor explains the theory of the four-year market cycle, but also acknowledged the fact that history is not necessarily an indication of future performance.

He said that bombs in the price of Bitcoin correlate strongly with their sales, which many other crypto companies can probably attest to as well.

As a hardware manufacturer, it is very important to have enough stock because it takes a long time to build these products.

I think we are ready for the next peak!

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