How should I store large holdings of STX?

Large STX holders have the following options for holding STX: 

  • Use a Ledger hardware wallet 
  • Use a Bitcoin multisig set up 
  • Use a custodial service

Ledger wallets add a level of security by keeping Secret Keys associated with your STX balance offline, but put the onus on end users to secure their Ledger devices and recovery keys. See the Ledger for Hiro Wallet instructions for more info. 

Some users may want to use a multisig setup. Multisig provides higher assurances that your balance cannot be hacked through adding more signers to a transaction. Multisig support for STX holdings is only available via Bitcoin multisig setup at the moment. As such, there is a higher level of friction for end users to engage with Stacks in this manner. Interested parties can see more information on GitHub

Lastly, Custodial services have different techniques for storing crypto assets. They do the work of storing assets in exchange for fees, and are a potential point of centralized weakness. Custodial techniques vary according to factors such as the liquidity level you want to maintain or the security you would like. If you decide to go the custodial route, consider your needs, the firm’s reputation, fees, and so forth. Custodian options for STX holders includeCoinbase Custody and BitGo.  

Of course, like any responsible asset holder, you should do your own research and select a storage method for your STX that meets your needs.