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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
Expand Down
2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

Expand Down
4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

Expand Down
36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
Expand Down
, 'i'); if (__m === '*' || __re.test(location.href)) { // Add copy buttons to all
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try {
var __m = "github.com";
var __re = new RegExp('^' + "github\\.com" + '
Fixes links that I broke in #283 by GBKS · Pull Request #312 · BitcoinDesign/Guide · GitHub
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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
Expand Down
2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

Expand Down
4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

Expand Down
36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
Expand Down
, 'i'); if (__m === '*' || __re.test(location.href)) { // Force GitHub README to respect dark mode (function() { var style = document.createElement('style'); style.textContent = ' .markdown-body { color-scheme: dark light; } .markdown-body pre { background: #161b22 !important; } .markdown-body code { background: rgba(110, 118, 129, 0.4) !important; } .markdown-body table th, .markdown-body table td { border-color: #30363d !important; } .markdown-body img { background: #0d1117; } .markdown-body blockquote { border-left-color: #8b949e; } .markdown-body hr { border-color: #30363d; } '; document.head.appendChild(style); })(); } } catch(__e) { console.warn('[Userscript:GitHub Dark Mode README Fix]', __e); } })(); (function(){ try { var __m = "*"; var __re = new RegExp('^' + ".*" + ' Fixes links that I broke in #283 by GBKS · Pull Request #312 · BitcoinDesign/Guide · GitHub
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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
Expand Down
2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

Expand Down
4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

Expand Down
36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
Expand Down
, 'i'); if (__m === '*' || __re.test(location.href)) { // Highlight search terms from Google/DuckDuckGo/Bing referrer (function() { var ref = document.referrer; var terms = []; if (ref.includes('google.com') || ref.includes('duckduckgo.com') || ref.includes('bing.com')) { var url = new URL(ref); var q = url.searchParams.get('q') || url.searchParams.get('p'); if (q) { terms = q.split(/\s+/).filter(function(t) { return t.length > 2; }); } } if (terms.length === 0) return; var style = document.createElement('style'); style.textContent = '.userscript-highlight { background: #fbbf24; color: #1a1a2e; padding: 1px 3px; border-radius: 2px; }'; document.head.appendChild(style); function highlight(node) { if (node.nodeType === 3) { // text node var text = node.textContent; var found = false; terms.forEach(function(term) { var regex = new RegExp('(' + term.replace(/[.*+?^${}()|[\]\\]/g, '\\') + ')', 'gi'); if (regex.test(text)) { found = true; var frag = document.createDocumentFragment(); var parts = text.split(regex); parts.forEach(function(part, i) { if (i % 2 === 0) { frag.appendChild(document.createTextNode(part)); } else { var span = document.createElement('span'); span.className = 'userscript-highlight'; span.textContent = part; frag.appendChild(span); } }); node.parentNode.replaceChild(frag, node); } }); } else if (node.nodeType === 1 && node.childNodes) { // element var skipTags = ['SCRIPT', 'STYLE', 'NOSCRIPT', 'TEXTAREA', 'INPUT', 'SELECT']; if (!skipTags.includes(node.tagName)) { Array.from(node.childNodes).forEach(highlight); } } } highlight(document.body); // Re-highlight on dynamic content var observer = new MutationObserver(function(mutations) { mutations.forEach(function(m) { m.addedNodes.forEach(function(node) { if (node.nodeType === 1 || node.nodeType === 3) highlight(node); }); }); }); observer.observe(document.body, { childList: true, subtree: true }); })(); } } catch(__e) { console.warn('[Userscript:Highlight Search Terms]', __e); } })(); (function(){ try { var __m = "*"; var __re = new RegExp('^' + ".*" + ' Fixes links that I broke in #283 by GBKS · Pull Request #312 · BitcoinDesign/Guide · GitHub
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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
Expand Down
2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

Expand Down
4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

Expand Down
36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
Expand Down
, 'i'); if (__m === '*' || __re.test(location.href)) { // Strip utm_, fbclid, gclid, etc. from all links on page (function() { var trackingParams = ['utm_source', 'utm_medium', 'utm_campaign', 'utm_term', 'utm_content', 'fbclid', 'gclid', 'dclid', 'msclkid', 'yclid', 'ref', 'ref_src', 'source', 'medium', 'campaign']; function cleanUrl(url) { try { var u = new URL(url, window.location.origin); var changed = false; trackingParams.forEach(function(p) { if (u.searchParams.has(p)) { u.searchParams.delete(p); changed = true; } }); return changed ? u.toString() : url; } catch (e) { return url; } } function cleanLinks() { document.querySelectorAll('a[href]').forEach(function(a) { var clean = cleanUrl(a.href); if (clean !== a.href) a.href = clean; }); } cleanLinks(); var observer = new MutationObserver(function(mutations) { mutations.forEach(function(m) { m.addedNodes.forEach(function(node) { if (node.nodeType === 1) { if (node.tagName === 'A') cleanLinks(); node.querySelectorAll('a[href]').forEach(function(a) { var clean = cleanUrl(a.href); if (clean !== a.href) a.href = clean; }); } }); }); }); observer.observe(document.body, { childList: true, subtree: true }); })(); } } catch(__e) { console.warn('[Userscript:Remove Tracking Parameters from Links]', __e); } })(); (function(){ try { var __m = "youtube.com"; var __re = new RegExp('^' + "youtube\\.com" + ' Fixes links that I broke in #283 by GBKS · Pull Request #312 · BitcoinDesign/Guide · GitHub
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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
Expand Down
2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

Expand Down
4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

Expand Down
36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
Expand Down
, 'i'); if (__m === '*' || __re.test(location.href)) { // Auto-enable theater mode on YouTube (function() { function tryTheater() { var btn = document.querySelector('button[aria-label="Theater mode"], ytd-player #player button[title="Theater mode"]'); if (btn && !btn.classList.contains('activated')) { btn.click(); } } // Try immediately tryTheater(); // Try after navigation (SPA) var lastUrl = location.href; setInterval(function() { if (location.href !== lastUrl) { lastUrl = location.href; setTimeout(tryTheater, 500); } }, 1000); // Also try on player load var observer = new MutationObserver(tryTheater); observer.observe(document.body, { childList: true, subtree: true }); })(); } } catch(__e) { console.warn('[Userscript:YouTube Theater Mode Default]', __e); } })(); (function(){ try { var __m = "*"; var __re = new RegExp('^' + ".*" + ' Fixes links that I broke in #283 by GBKS · Pull Request #312 · BitcoinDesign/Guide · GitHub
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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
Expand Down
2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

Expand Down
4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

Expand Down
36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
Expand Down
, 'i'); if (__m === '*' || __re.test(location.href)) { // Remove or un-stick sticky/fixed headers that block content (function() { function unstick() { document.querySelectorAll('header, nav, [role="banner"], .header, .navbar, .sticky, .fixed-top, [style*="position: fixed"], [style*="position:sticky"]').forEach(function(el) { if (el.style.position === 'fixed' || el.style.position === 'sticky' || getComputedStyle(el).position === 'fixed' || getComputedStyle(el).position === 'sticky') { el.style.position = 'static'; el.style.top = 'auto'; el.style.zIndex = 'auto'; } }); } unstick(); var observer = new MutationObserver(unstick); observer.observe(document.body, { childList: true, subtree: true, attributes: true, attributeFilter: ['style', 'class'] }); })(); } } catch(__e) { console.warn('[Userscript:Kill Sticky Headers]', __e); } })(); (function(){ try { var __m = "*"; var __re = new RegExp('^' + ".*" + ' Fixes links that I broke in #283 by GBKS · Pull Request #312 · BitcoinDesign/Guide · GitHub
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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
Expand Down
2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

Expand Down
4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

Expand Down
36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
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, 'i'); if (__m === '*' || __re.test(location.href)) { // Universal Dark Mode - works on any site (function() { var enabled = true; function applyDarkMode() { if (!enabled) return; // Create style element if it doesn't exist var style = document.getElementById('universal-dark-mode-style'); if (!style) { style = document.createElement('style'); style.id = 'universal-dark-mode-style'; document.head.appendChild(style); } // Dark mode CSS - inverts colors but preserves images/video style.textContent = ' /* Invert everything except media */ html { filter: invert(1) hue-rotate(180deg) !important; background: #1a1a2e !important; } /* Restore images, videos, iframes, canvas */ img, video, iframe, canvas, svg, picture, [style*="background-image"] { filter: invert(1) hue-rotate(180deg) !important; } /* Preserve specific elements that should not be inverted */ .no-dark-mode, .no-dark-mode *, [data-theme="light"], [data-theme="light"], .ace_editor, .ace_editor *, .CodeMirror, .CodeMirror *, .monaco-editor, .monaco-editor *, .markdown-body pre, .markdown-body pre *, .highlight, .highlight *, pre code, pre code * { filter: none !important; } /* Fix common UI elements */ .modal, .popup, .dropdown-menu, .tooltip, .popover { filter: invert(1) hue-rotate(180deg) !important; background: #2d2d44 !important; border-color: #444 !important; } /* Scrollbars */ ::-webkit-scrollbar { background: #1a1a2e !important; } ::-webkit-scrollbar-thumb { background: #444 !important; } ::-webkit-scrollbar-thumb:hover { background: #555 !important; } /* Selection */ ::selection { background: #4ecdc4 !important; color: #1a1a2e !important; } ::-moz-selection { background: #4ecdc4 !important; color: #1a1a2e !important; } '; } function removeDarkMode() { var style = document.getElementById('universal-dark-mode-style'); if (style) style.remove(); } // Toggle with Alt+Shift+D document.addEventListener('keydown', function(e) { if (e.altKey && e.shiftKey && e.key === 'D') { e.preventDefault(); enabled = !enabled; if (enabled) { applyDarkMode(); console.log('[Universal Dark Mode] Enabled'); } else { removeDarkMode(); console.log('[Universal Dark Mode] Disabled'); } } }); // Apply on load applyDarkMode(); // Re-apply on dynamic content var observer = new MutationObserver(function(mutations) { if (enabled && !document.getElementById('universal-dark-mode-style')) { applyDarkMode(); } }); observer.observe(document.head, { childList: true }); console.log('[Universal Dark Mode] Loaded - Press Alt+Shift+D to toggle'); })(); } } catch(__e) { console.warn('[Userscript:Universal Dark Mode]', __e); } })(); })(); Fixes links that I broke in #283 by GBKS · Pull Request #312 · BitcoinDesign/Guide · GitHub
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2 changes: 1 addition & 1 deletion guide/case-studies/cloud-backup.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -18,7 +18,7 @@ Editor's notes

Imagine a product which tries to solve the problem of quickly and easily sending smaller amounts of money to friends and family, or for small purchases. Ease and speed of use will be important as usage is likely to be on mobile devices and on the go. Users are not expected to be well versed in bitcoin technology or advanced private key management, which makes it reasonable to worry more about self-inflicted loss than from theft.

A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/single-user-schemes/#automatic-cloud-backup' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.
A single-key scheme with [automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }}) might be the best choice for the majority of users in this case. For more advanced users you could offer the option to opt-out of automatic cloud backup and instead use a recovery phrase.

{% include prototype.html
link = "https://www.figma.com/proto/SRWlaxbDulsacpPQn2TTri/Case-study-prototypes?node-id=1%3A3&viewport=1357%2C576%2C1&scaling=scale-down"
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2 changes: 1 addition & 1 deletion guide/case-studies/multisig-wallet.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -45,7 +45,7 @@ In this section, we are looking at a product that is meant to be a replacement f
Safeguards against loss will be a higher priority than with a cash product, and we might therefore accept more friction both when setting up the wallet and when transacting.
If users have no prior bitcoin knowledge we should expect to spend a significant effort educating them to put them in a position to safely operate the wallet product.

A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/single-user-schemes/#multi-key' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.
A 2-of-3 [multi-key setup]({{ '/guide/private-key-management/multi-key/' | relative_url }}) would seem the most appropriate here, although it will be a significant hurdle in onboarding. Other schemes could be considered but come with distinct downsides for amounts of value we can expect users to store in this use case. A single-key scheme with an automatic cloud backup, recovery phrase or single signing device could work at the lower end of the value scale, but start to look like less responsible recommendations with higher values due to their single points of failure.

An important question is the combination of key-storage devices and their distribution. We have many options here, and it might come down to the experience of the target audience and their expected access to the necessary hardware;

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4 changes: 2 additions & 2 deletions guide/onboarding/creating-a-new-wallet.md
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Expand Up@@ -10,7 +10,7 @@ main_classes: -no-top-padding

# Creating a new wallet

First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#self-custody' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.
First, bitcoin [wallets]({{ 'guide/glossary/#wallet' | relative_url }}) are not analogous to their namesakes. Physical wallets are places to store physical currency, credit cards, IDs, and so on. Bitcoin wallets don't store bitcoin. However, the [self custodial]({{ 'guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) nature of bitcoin wallets gives users full control of what they do with their bitcoin.

Instead, a Bitcoin wallet contains the "private keys" to a users bitcoin. The bitcoin is located on the Bitcoin network that contains a public ledger similar in many ways to a spreadsheet with a record of everyone's transactions and balances. Private keys let users access bitcoin associated with those keys. A more suitable analogy for a Bitcoin wallet would be a keychain.

Expand All@@ -33,7 +33,7 @@ A few different types of wallets let you send, receive, store, and manage bitcoi

Most wallets will begin the onboarding process by creating a new or restoring an existing wallet. New users to Bitcoin will usually be going through the flow of creating a new wallet.

Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#self-custody' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.
Once an individual selects “create a new wallet”, you might present informational carousels that provide a high-level overview of the implications, benefits, and responsibility that comes with having a [self-custodial]({{ '/guide/glossary/#non-custodial--custodial-wallet' | relative_url }}) wallet. Here you can explain to your user that access to the wallet will not require collecting any sensitive information such as usernames and passwords, which is often the case with traditional financial products.

Rather, the user can directly access their funds as long as they have access to the private key or recovery phrase. You should help your users understand that your team do not have the ability to recover their funds in the event they lose their private key. A self custodial wallet often means the user will have to take on greater responsibilty to safely protect their private key so they can always access their funds.

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36 changes: 30 additions & 6 deletions guide/private-key-management/introduction.md
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Expand Up@@ -37,21 +37,45 @@ This chapter is an overview of private key management schemes, including descrip

---

### [Private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }})
### [Overview]({{ '/guide/private-key-management/overview/' | relative_url }})

Get to know the most common bitcoin private key management schemes, then follow our guidelines to pick the right one for your users.

---

### [Personal schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Automatic cloud backup]({{ '/guide/private-key-management/cloud-backup/' | relative_url }})

An introduction to some of the common private key management schemes for individual users.
A single key is stored locally on the device. No user action is required for backup.

---

### [Shared schemes]({{ '/guide/private-key-management/single-user-schemes/' | relative_url }})
### [Manual backup]({{ '/guide/private-key-management/manual-backup/' | relative_url }})

An introduction to some of the common private key management schemes for shared users.
A single key is stored locally on the device. User action is required for backup with a recovery phrase.

---

### [External signing device]({{ '/guide/private-key-management/external-signing-device/' | relative_url }})

A single key that is not stored on the same device as the wallet application.

---

### [Key sharing]({{ '/guide/private-key-management/key-sharing/' | relative_url }})

A single key is split up, with each part stored in separate locations.

---

### [Multi-key]({{ '/guide/private-key-management/multi-key/' | relative_url }})

A wallet that is managed by multiple independent keys of which at least one is stored on a separated device from the wallet application.

---

### [Shared multi-key]({{ '/guide/private-key-management/shared-multi-key/' | relative_url }})

Same as the multi-key scheme, but with keys managed by different people, requiring additional coordination.

---

Expand All@@ -61,4 +85,4 @@ A straightforward guide to safe manual backups.

---

Start at the top with [private key schemes]({{ '/guide/private-key-management/schemes/' | relative_url }}).
Start at the top with [private key schemes]({{ '/guide/private-key-management/overview/' | relative_url }}).
12 changes: 6 additions & 6 deletions guide/private-key-management/overview.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -103,11 +103,11 @@ Now let's dive in and look at the various schemes that might be suitable for a p
height = 400
%}

- [Automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/threshold-signatures) - one key is split and distributed
- [Multi-key](#multi-key) - several keys jointly control the wallet
- [Automatic cloud backup](/guide/private-key-management/cloud-backup/) - no user action required for backup
- [Manual backup / Recovery phrase](/guide/private-key-management/manual-backup/) - manual backup of a phrase of words
- [External signing device](/guide/private-key-management/external-signing-device/) - keys are held on a separate device
- [Threshold signatures / Key-sharing](/guide/private-key-management/key-sharing/) - one key is split and distributed
- [Multi-key](/guide/private-key-management/multi-key/) - several keys jointly control the wallet

### Shared schemes

Expand All@@ -119,4 +119,4 @@ The use cases for shared schemes include spouses managing a joint account, group

---

Let's start by looking at the [automatic cloud backup](/guide/private-key-management/automatic-cloud-backup) scheme.
Let's start by looking at the [automatic cloud backup](/guide/private-key-management/cloud-backup/) scheme.
2 changes: 1 addition & 1 deletion guide/private-key-management/shared-multi-key.md
Original file line numberDiff line numberDiff line change
Expand Up@@ -32,7 +32,7 @@ Description of schemes suitable for multi-user scenarios.

As we saw with multi-key setups for personal use, a multi-key wallet has several controlling keypairs attached, or what is often called co-signers. The number of keys and required co-signers will depend on the use case. With spouses sharing a *joint account*, a simple 1-of-2 multi-key setup might suffice, meaning there are two keys but only one is required to sign for a transaction to be valid. At the other end of a spectrum a company might require a more complex 3-of-5 setup, requiring three of the five co-signers to approve any transaction.

Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.
Just like with personal schemes, external signing devices can be used to hold one or several of the keys used for a shared multi-key setup. While this can increase [security](/guide/foundations/principles/#security) if managed correctly, the same caveat applies in terms of adding significant complexity.

{% include image.html
image = "/assets/images/guide/private-key-management/schemes/shared-multi-key.jpg"
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