Good advice. I need to look at my cold storage situation. I'm a bit old school using paper wallets but will be getting a Ledger or Trezor asap
There's nothing wrong with paper wallets. Just be mindful what they protect you from, and what they do not protect you from. I won't pretend to write a complete list, but they won't protect you from people who have physical access to the paper wallet and could steal it. It won't protect you from loss. It won't protect you from fire. You could make multiple copies, in which case fire protection is improved, but risk for theft is increased. You could make 2/3 multisig paper wallets, and distribute those. Better security, but a bit more work and a bit more technical to set up. Paper wallets can be a bit hard to spend, and it has happened in the past that people send multiple bitcoins as 'transaction fee' to the miner. Depending on how you set up the system, you may still be at risk for man in the middle type attacks when spending.
I've not used a Ledger, but the Trezor works great. You're still going to have to write down the seed key and store it securely, so some of the same challenges as with the paper wallet exist.
As a general rule, have whatever you are comfortable holding in your (regular, physical) wallet in your bitcoin address. You can lose your regular wallet, it would be annoying, but you would not be bankrupt. Likewise, don't hold access to more funds in your bitcoin "wallet" than you are comfortable with, and store everything else securely. That could be on paper wallets, on a Trezor, as long as you have weighed the advantages and disadvantages of each solution.
One more thought to add. When you die - would you like others to have access to your bitcoin? If so, you will have to involve them somehow. Be careful about the trust that you are then placing in them, if they have access when you are dead - will they have access when you are alive? Something to think about.
It can be a bit daunting to be in charge of your own security. That's because we are still pioneers. We're figuring it out for everyone else.
