Precautions to take while setting up and using the Emergency Key. – Bitcoin Keeper

When setting up an Emergency Key in Bitcoin Keeper, you must take several precautions to maintain both security and clarity of intent. Here are the key cautions to keep in mind:

🔐 1. Use a Separate, Secure Key (If Possible)

Avoid reusing a multisig signer as the Emergency Key unless necessary.
A dedicated device or signing method ensures clearer control and reduces overlap risks if any key is compromised.

🕒 2. Choose a Prudent Time-Lock Duration

Set a delay long enough to:
- Deter opportunistic misuse.
- Allow time for normal quorum recovery.
Typical durations: 3 to 12 months, depending on how often the wallet is actively used and your risk model.

👥 3. Assign the Emergency Key to a Trusted, Trained Person

If delegating access (e.g., to a spouse or executor), ensure they:
- Understand how the key works.
- Know how to use Bitcoin Keeper.
- Are aware of the time-lock constraints.

🗂️ 4. Document Clearly and Securely

Maintain clear written instructions about:
- When and how the Emergency Key can be used.
- Where it is stored.
- Who can access it and under what conditions.
Use tamper-evident envelopes or safe deposit boxes for physical key storage.

⚠️ 5. Beware of the “Silent Attack Window”

Once the Key is active, anyone with access to the Emergency Key can unilaterally move funds.
Monitor wallet activity periodically, and rotate funds into a new wallet if the Emergency Key has activated but isn’t needed.

🧪 6. Test Setup Without Broadcasting

Use Bitcoin Keeper’s simulation or testnet environment to verify that the Emergency Key behaves as expected post-time-lock.
Ensure all devices are updated and compatible with the miniscript logic.

🔄 7. Have a Rotation Plan

If the Emergency Key is ever exposed, lost, or handed off (e.g., due to death or divorce), move funds to a new multisig wallet and reconfigure a new Emergency Key.

🧭 Summary

Setting up an Emergency Key is like writing a safety clause into your will—powerful but delicate. Take it seriously, plan taking into account known unknowns, and document everything with clarity.