Like many others, I wasn’t exactly against Bitcoin — but I had serious concerns. It wasn’t price volatility or market speculation that made me hesitant. My main worry was: what if I lose access to my wallet?

The Fear of Permanent Loss

Imagine this:

I forget my password
I misplace my recovery phrase
Someone steals it
I suffer from memory loss
Or worse — I pass away

In any of these cases, my Bitcoin could be gone forever.

Years ago, when Bitcoin was still new, I couldn’t find a reliable way to deal with this. I remember reading about a man digging through a landfill for years, trying to recover a hard drive with lost Bitcoin worth millions. That could be anyone.

Then there’s the question of exchanges. Buying Bitcoin through an exchange might feel convenient, but what if the exchange goes bankrupt? Unlike traditional banks — which at least offer some legal means of recovery — there’s no such fallback with most crypto exchanges. If they disappear, so might your assets.

Unfortunately, many people I asked back then simply said, "just accept the risk."
That wasn’t good enough for me.

How I Found a Better Way

Fast forward to today — the world has changed, and so has crypto. But surprisingly, many people still don’t know how to prepare for worst-case scenarios like death or memory loss. That’s why I want to share the system I use today, which could also help others.

Everyday Usage: Multi-Signature Wallet

In a typical family structure — husband, wife, and two children — I use a 2-of-3 multisig wallet. This means that any transaction must be approved by at least two people. This prevents a single point of failure and helps protect against misuse or accidents.
Long-Term Inheritance: Shamir Backup

For legacy and inheritance, I use a Shamir Secret Sharing method with a 6-of-9 setup. The wallet’s seed phrase is divided into 9 pieces. Any 6 of them can be combined to recover the wallet. The distribution looks like this:
- Husband: 2 shares (kept in a bank safe deposit box)
- Wife: 2 shares (also in a separate safe deposit box)
- Child 1: 1 share
- Child 2: 1 share
- Husband Trusted Person: 1 share
- Wife trusted person: 1 share
- netral person / Lawyer: 1 share

This creates a balance of security, trust, and accessibility — even in the event of my death. With joining six share, my family can still recover the funds responsibly.

"Not Your Keys, Not Your Coins"

I still don’t fully trust exchanges.
Crypto's golden rule remains:

If you don’t own the keys, you don’t own the assets.

Most exchanges keep your funds in wallets they control. Several years ago, an incident involving Indodax, one of Indonesia’s popular exchanges, reaffirmed my stance — exchanges are not safe places to store crypto long-term.

Sure, exchanges are necessary for buying and selling. But for storage, I always withdraw to my personal wallet.

Choosing an Exchange Wisely

Exchanges differ wildly in fees — transaction fees, withdrawal fees, and even taxation policies. Some are rigid, some are fair. After trying several platforms, I found the most competitive (at least as of writing this article) to be:
https://reku.id/

Final Thoughts

Owning Bitcoin is about freedom, but with freedom comes responsibility. It’s not just about investment or speculation — it’s about building a system that protects your assets, even when you’re no longer here.

I hope my approach can inspire others to take ownership of their crypto securely, responsibly, and wisely.

In this article, I discuss my initial concerns about the security and accessibility of Bitcoin and how my approach has evolved over time. To mitigate risks like loss of access or inheritance issues, I use a 2-of-3 multi-signature wallet for everyday transactions and Shamir Secret Sharing for long-term inheritance planning. I emphasize the importance of owning your private keys to ensure control over your assets and recommend cautious use of exchanges for storage. The article aims to offer a practical framework for managing Bitcoin securely and responsibly.

Why I Didn’t Trust Bitcoin at First — Until I Found a Way to Solve Its Biggest Problem