In cryptocurrency, a ‘’hot walle’’ is any wallet that remains connected to the internet, allowing users to send, receive, and manage digital assets conveniently. Common types of hot wallets include: * Mobile wallets * Desktop wallets * Browser extension wallets * USB (hardware) wallets when they are connected to the internet

In cryptocurrency, self-custody refers to the ability of a crypto participant to maintain ownership and control over their private keys. Self-custody crypto wallets, therefore, give users this control. This is in contrast to ‘custodial’ wallets, which imply that a cryptocurrency exchange safeguards a user’s private keys.

Good question. Seed phrase safety boils down to where you store it and how you protect it. BitBox02 encourages using metal backup plates—a much more durable option than paper in case of fire, water damage, or simple wear-and-tear. The wallet supports Shamir backup (SLIP-39) for splitting your recovery phrase into multiple parts, which is handy if you want to distribute trust among family members or different locations. This strategy is great for inheritance planning or added security. Personally, I think your seed phrase is the single most valuable asset in self-custody, so handling it with extreme care is non-negotiable.

To start with the basics, the BitBox02 is a compact hardware wallet built to keep your cryptocurrency private keys offline and out of reach of hackers. It features a secure element chip—a tamper-resistant microcontroller that safely stores sensitive information, including your private keys. This dedicated security component is one of its defining features and sets it apart from simpler hardware wallets and software-based wallet apps. Based on my testing, the unboxing experience is simple and well organized. Inside the box, you'll find the BitBox02 wallet, a USB-C cable, a microSD card for creating backups, and a few stickers. While the packaging is minimal, it includes everything needed to get started, and the setup process is intuitive and easy to follow.

Recovery is often where the rubber meets the road. BitBox02 uses a 24-word seed phrase compliant with the BIP-39 standard. This phrase is essentially your master key to access funds in case your device gets lost, stolen, or damaged.