Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: YangDump on April 14, 2018, 06:58:28 PM
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1. Separate your bitcoins to hot and cold wallets
Online wallets are called “hot wallets”, since they are at high risk to network based attacks. If you are running any kind of Bitcoin online business, offline (‘cold’) wallets will be a better tool. They are way safer and they are not so attractive for hackers. It would be ideal to keep the bulk of your Bitcoin funds on the cold wallet. And for your day to day Bitcoin transactions keep just a small float of your Bitcoins on your online wallet.
2. Store private keys offline
In order to enhance the security of your Bitcoin wallet, remove its private keys and then store them somewhere, perhaps, in a separate computer which is not connected to the Internet. To make a payment generate the transaction on the online computer, bring it to the offline computer (on a USB stick) for signing with the private key, and then bring it back to the online computer to complete the transaction. This way, you can be sure that it will not be compromised by hacker or malware attacks.
3. Use fragmented backups
Even though you only need to make one backup of your seed ever, it is still sensible to make multiple copies of this backup and store them at different locations. If you are concerned about the physical security of your backup, make a fragmented backup. This splits the seed into, say, six fragments, with any four needed to recreate the seed. You can then store each fragment in a different location; to get access to your wallet, a thief would have to access four of the six fragments.
Source: http://telegra.ph/Top-3-Bitcoin-security-and-safety-tips-04-14
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Here are the top 3 tips for safety and securing your Bitcoin with a hardware wallet:
Use a Hardware Wallet: Opt for a hardware wallet like OneKey for offline storage. It provides an extra layer of security by keeping your private keys offline, away from potential online threats. This significantly reduces the risk of unauthorized access.
Enable Two-Factor Authentication (2FA): Enhance the security of your OneKey wallet by enabling two-factor authentication. This adds an additional layer of protection, requiring a second form of verification beyond your password. It ensures that even if your password is compromised, unauthorized access is still thwarted.
Regularly Update Firmware and Software: Stay ahead of potential vulnerabilities by keeping your OneKey wallet's firmware and software up to date. Regular updates often include security patches and improvements, ensuring that your wallet remains resilient against evolving threats.
By following these security tips and choosing OneKey, you can fortify the protection of your Bitcoin investments.
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Thanks for the tips! Agree, using a hardware wallet like OneKey for Bitcoin security is a great idea. Enabling two-factor authentication and regularly updating software are also crucial for safety.
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Thanks for the tips! Agree, using a hardware wallet like OneKey for Bitcoin security is a great idea. Enabling two-factor authentication and regularly updating software are also crucial for safety.
Why does every post mention hardware wallets? Is a cold one on an sd card worse? Of course, if you have extra money - buy it, I don't mind. But there are alternatives.
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I would add the following about safety:
1. Do not go anywhere (websites, etc.);
2. Do not trust the first people you meet on the Internet;
3. do not buy crypto wallets from unverified sources; :o
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I would add the following about safety:
1. Do not go anywhere (websites, etc.);
2. Do not trust the first people you meet on the Internet;
3. do not buy crypto wallets from unverified sources; :o
Yeah mostly buying crypto from unverified sources. You know cryptocurrencies are not like bank is like untraceable so as it's not verified they can easily scam. For instance was an centralize exchange you can report the person account.
Mind the way you also keep your security seed phrase, don't forget always keep it in a safe location you can easily remember too.
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I would add the following about safety:
1. Do not go anywhere (websites, etc.);
2. Do not trust the first people you meet on the Internet;
3. do not buy crypto wallets from unverified sources; :o
Yeah mostly buying crypto from unverified sources. You know cryptocurrencies are not like bank is like untraceable so as it's not verified they can easily scam. For instance was an centralize exchange you can report the person account.
Mind the way you also keep your security seed phrase, don't forget always keep it in a safe location you can easily remember too.
You are correct... it can be dangerous to buy cryptocurrencies from sources... that have not been verified. Cryptocurrencies cannot be traced... so it is important to be careful... and only buy from trusted sources to avoid scams.Centralized exchanges have systems in place to report... and deal with fraudulent activity.
When it comes to the security seed phrase... it is very important to keep it in a safe place that... you can easily remember. This seed phrase is like a key to your wallet.... so you need to take good care of it and make sure no one else can access it. By taking these precautions... you can make your cryptocurrency investments more secure.
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With software wallets we can do practically the same thing. We should always download them from official sites. There are many more tips, especially when it comes to backups.
We should never store our cryptocurrencies in any exchange, no matter how good a reputation it may have, they are not safe and are limited to the regulations of the governments of each country.
1. Use strong passwords.
2. Beware of phishing scams.
3. Encrypt your wallet.
4. Public Wi-Fi caution.
5. Regularly monitor transactions.
6. Choose a reliable wallet.
7. Use hardware wallets.
8. Enable two-factor authentication (2FA).
9. Regularly update software.
10. Secure backup.
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With software wallets we can do practically the same thing. We should always download them from official sites. There are many more tips, especially when it comes to backups.
I would like to add that Downloading a wallet software from an official website is not enough to be safe.
Another vital step after that is Verify the downloaded wallet file. Because even the official website can be compromised and you can download a fake wallet that is not from that wallet software's developer. Verify their PGP digital key.
Like with Electrum wallet
- Download it from Electrum official website https://electrum.org/#download
- Verify it by following this guide
- How to verify your Electrum wallet download (https://bitcoinelectrum.com/how-to-verify-your-electrum-download/)
Bitcoin Core wallet
- Download https://bitcoincore.org/en/download/
- At that page, there are guides to verify the wallet for different OS.
1. Use strong passwords.
- Are your passwords in the green? (https://www.hivesystems.io/blog/are-your-passwords-in-the-green)
- It is true that a password must be unique and strong enough to protect your wallet access and avoid losing your bitcoin. A non-custodial wallet means a user is fully responsible for protection of his bitcoin.
6. Choose a reliable wallet.
Choose a Bitcoin wallet with filters there https://bitcoin.org/en/choose-your-wallet
Then read wallet reviews with https://walletscrutiny.com/
10. Secure backup.
I recommend
- How to back up a seed phrase/ (https://blog.lopp.net/how-to-back-up-a-seed-phrase/)
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Aside from the safety reminders posted above. It's important to exercise caution with every website you use. Even if we take all the necessary measures to secure our wallet, we can still fall victim to hackers if our computer is infected with malware. I once came across a post on social media where the user claimed that all the funds in their wallet were sent to the wrong address when they tried to transfer money. The address they had pasted was altered to a different one. Therefore, it's essential to always double-check the address before clicking the "send" button. Stay safe!
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The wallet you choose to store assets in must be quality secure. As you can use hardware wallets, hardware wallets will play a more secure role in keeping Bitcoin safe. And Key 🗝️ You must keep the diary/diary on paper and keep the paper well in a place where no one can find it easily. Then you can keep your assets safe and if you want to transfer these assets, you must check twice or thrice and match the addresses better. If correct then you click on confirm button.
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Thanks for the tips! Agree, using a hardware wallet like OneKey for Bitcoin security is a great idea. Enabling two-factor authentication and regularly updating software are also crucial for safety.
Why does every post mention hardware wallets? Is a cold one on an sd card worse? Of course, if you have extra money - buy it, I don't mind. But there are alternatives.
Yes definitely true that hardware wallet is not suitable for everyone. There are many investors and many customers who cannot afford to buy hardware wallets. I don't recommend everyone to use hardware wallets because buying hardware wallets is very expensive. In that case if people are using software wallet then the investment can be kept much safer than software wallet if the seed phrase can be kept very safe.
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To safeguard your Bitcoin holdings, prioritize security. Utilize hardware wallets for offline storage, enhancing resistance to online threats. Enable two-factor authentication on exchanges and wallets, adding an extra layer of defense. Regularly update software to patch vulnerabilities, and employ robust, unique passwords. Exercise caution with third-party services to avoid potential scams. Keep private keys confidential and consider using a secure, isolated device for transactions. Stay informed about the latest security practices to fortify your Bitcoin assets against evolving risks.
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To safeguard your Bitcoin holdings, prioritize security. Utilize hardware wallets for offline storage, enhancing resistance to online threats. Enable two-factor authentication on exchanges and wallets, adding an extra layer of defense. Regularly update software to patch vulnerabilities, and employ robust, unique passwords. Exercise caution with third-party services to avoid potential scams. Keep private keys confidential and consider using a secure, isolated device for transactions. Stay informed about the latest security practices to fortify your Bitcoin assets against evolving risks.
These are some really helpful hints! You've obviously done your homework on how to keep Bitcoin holdings safe and secure. In my opinion, adopting these precautions can help lower the possibility of theft or loss, providing consumers piece of mind and assurance about the security of their assets.
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Aside from the safety reminders posted above. It's important to exercise caution with every website you use. Even if we take all the necessary measures to secure our wallet, we can still fall victim to hackers if our computer is infected with malware. I once came across a post on social media where the user claimed that all the funds in their wallet were sent to the wrong address when they tried to transfer money. The address they had pasted was altered to a different one. Therefore, it's essential to always double-check the address before clicking the "send" button. Stay safe!
It is the responsibility of the wallet owner to ensure the safety of their device. Using the device where the wallet is installed for any other purpose increases the risk of downloading a virus or malicious file. It is recommended to avoid downloading anything from unverified sites.
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I once came across a post on social media where the user claimed that all the funds in their wallet were sent to the wrong address when they tried to transfer money. The address they had pasted was altered to a different one. Therefore, it's essential to always double-check the address before clicking the "send" button. Stay safe!
That is called clipboard malware. There are a lot of types of hacking tools that we don't even know. A person should not connect their hardware wallet to a random computer. if you connect it to your own computer, make sure it is fresh. If you have a good amount of money in your crypto wallet, always be careful with it. You can run two operating systems on the same computer by making it dual boot.
If you visit random websites with your computer, you never know if it is already affected by malware. You should not take any kind of risk when it comes to your own crypto wallet. I use linux for wallet management and I do not use it for day to day work.
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That is called clipboard malware. There are a lot of types of hacking tools that we don't even know. A person should not connect their hardware wallet to a random computer. if you connect it to your own computer, make sure it is fresh. If you have a good amount of money in your crypto wallet, always be careful with it. You can run two operating systems on the same computer by making it dual boot.
If you visit random websites with your computer, you never know if it is already affected by malware. You should not take any kind of risk when it comes to your own crypto wallet. I use linux for wallet management and I do not use it for day to day work.
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I have an old experience with this. When I first started with cryptocurrency, I didn't have my own computer. So, I would go to an internet cafe and rent a computer to perform crypto-related tasks, including sending funds. One time, I attempted to transfer my funds to another wallet, but I didn't realize that the address had been changed, and my money was sent to a different address. Since that incident, I invested in my own personal computer and secured my wallets to prevent any such incidents from happening again.
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After your three security tips, there are some other tips that are also very important. When creating a Bitcoin wallet, the wallet should not be created directly from an Internet server. Here one can access the wallet from the internet server. Moreover, the wallet should not be downloaded directly through any link. In this case, if you download the wallet through a phishing link, there is definitely a chance of the wallet being hacked. Moreover, many people are asked to make wallet connect mandatory while applying for various bonus campaigns. In this case, it is necessary to verify if the wallet is a Phishing site while connecting the wallet. Many people save the security phase words / Seedphase of the wallet on the PC. They must be careful because any time a harmful virus can damage the hard disk drive of the PC. Moreover, it would be wise to keep the security backup physically.
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I have an old experience with this. When I first started with cryptocurrency, I didn't have my own computer. So, I would go to an internet cafe and rent a computer to perform crypto-related tasks, including sending funds. One time, I attempted to transfer my funds to another wallet, but I didn't realize that the address had been changed, and my money was sent to a different address. Since that incident, I invested in my own personal computer and secured my wallets to prevent any such incidents from happening again.
Installing wallets on the same device used for internet browsing is not recommended, as even downloading a harmless photo can result in the loss of coins. It is important to separate cryptocurrency from personal hobbies. To minimize the risk of viruses, it is best to keep the device clean and avoid downloading anything.
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I have an old experience with this. When I first started with cryptocurrency, I didn't have my own computer. So, I would go to an internet cafe and rent a computer to perform crypto-related tasks, including sending funds. One time, I attempted to transfer my funds to another wallet, but I didn't realize that the address had been changed, and my money was sent to a different address. Since that incident, I invested in my own personal computer and secured my wallets to prevent any such incidents from happening again.
Are you for real? Did you just say that you have used an internet cafe's computer to access your wallet? I am curious to know if you have changed your wallet or not. Even if there were no clipboard malware, still I wouldn't ever use a random computer to access my wallet. You never know if there were other types of malware or tools like keyloggers. There are many cases when a user used a cyber cafe's computer to access their social media nad emails but later those accounts were hacked. That's because some hackers installed some malware on those computers.
You don't need a computer to run a Bitcoin wallet. You can install Bitcoin wallet on your mobile devices. But, make sure to use non-custodial wallets like unstoppable or electrum. Never use exchanges as your wallet. Most importantly, avoid cyber cafe to input any kind of credentials.
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This is very good information for business people to keep their money safe, by following the steps above their assets are safe from hackers who are greedy for other people's assets.
and for beginners, the stages above are the first stages of saving their assets and there is no doubt about it.
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I have an old experience with this. When I first started with cryptocurrency, I didn't have my own computer. So, I would go to an internet cafe and rent a computer to perform crypto-related tasks, including sending funds. One time, I attempted to transfer my funds to another wallet, but I didn't realize that the address had been changed, and my money was sent to a different address. Since that incident, I invested in my own personal computer and secured my wallets to prevent any such incidents from happening again.
Are you for real? Did you just say that you have used an internet cafe's computer to access your wallet? I am curious to know if you have changed your wallet or not. Even if there were no clipboard malware, still I wouldn't ever use a random computer to access my wallet. You never know if there were other types of malware or tools like keyloggers. There are many cases when a user used a cyber cafe's computer to access their social media nad emails but later those accounts were hacked. That's because some hackers installed some malware on those computers.
You don't need a computer to run a Bitcoin wallet. You can install Bitcoin wallet on your mobile devices. But, make sure to use non-custodial wallets like unstoppable or electrum. Never use exchanges as your wallet. Most importantly, avoid cyber cafe to input any kind of credentials.
I fully support your warning. I have never even thought of using someone else's computer to import my wallet, it is very risky. I am very careful with my computer and always check where and to whom I send messages, I try not to download anything at all or go to suspicious sites, even mail letters I read only if I know the sender. Paranoid? Maybe, but it's better than being irresponsible.
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It's true what you mentioned, but I don't believe it's in the top 3, but I'll repeat that there's nothing wrong with what you've said. Maybe I just don't believe that this is in the top 3. That's just me.
Because, in my view, it is still important for us to know the correct practice of securing our wallets in reality. For example, choosing only reputable hardware wallets if you are going to deposit or save a large amount of Bitcoin is very important because it is not a trivial amount.
And when it comes to software wallets, the recommended ones that are okay and fine are the Electrum and Sparrow wallets, and unstoppable wallets are also fine.
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I fully support your warning. I have never even thought of using someone else's computer to import my wallet, it is very risky. I am very careful with my computer and always check where and to whom I send messages, I try not to download anything at all or go to suspicious sites, even mail letters I read only if I know the sender. Paranoid? Maybe, but it's better than being irresponsible.
I can't imagine accessing my wallet on some random computer. I won't do that even if it's my friend's computer. However, I may consider accessing my social media account from my trusted friend's computer because I have 2FA enabled and can change the credentials afterward. But there is no reason I would take the risk with my wallet. There is no point in doing it. I use wallets that support both mobile and desktop.
For Bitcoin, I still use Electrum and suggest others use Electrum as well. So, Even if I go for a long tour, I can still access my wallet. No matter where I am. So, Why must I access my wallet from some random computer? BTW, Glad to see someone like me. ;)
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Thanks for the tips! Agree, using a hardware wallet like OneKey for Bitcoin security is a great idea. Enabling two-factor authentication and regularly updating software are also crucial for safety.
Your actions are very correct, by using a hardware application your assets will be safe from people who want to take over assets from your account. Even by using a hardware application you can add security features as you said earlier, so that your account security is strong and people others can't take over your account.... maybe with this forum, beginners who want to invest their accounts will be safe from hackers
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I fully support your warning. I have never even thought of using someone else's computer to import my wallet, it is very risky. I am very careful with my computer and always check where and to whom I send messages, I try not to download anything at all or go to suspicious sites, even mail letters I read only if I know the sender. Paranoid? Maybe, but it's better than being irresponsible.
And you're doing the right thing! Why force yourself to be insecure? The amount of money theft is sometimes surprising. You don't need to visit anything, you don't need to download anything (even if it's verified) .... - is already something that will minimally protect you from losses. + in the network there is a lot of information with which you can emphasize something new for yourself. Scammers do not slumber, this should be remembered. ???
Buying cryptocurrency is easy, but keeping it for a long time is not an easy task. 8)
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Buying cryptocurrency is easy, but keeping it for a long time is not an easy task. 8)
The main problem is people want to play with their Bitcoin. They often try to multiply their holdings by trading, gambling, trying bitcoin doubler websites, and hyip scams as well. Crypto newbies fall into traps because they see too nice offers, but they realize they were scammed once it is too late. They try to move their Bitcoin from one wallet to another and sometimes exchange to stake them to get some free satoshis. Later, they got scammed somehow or lost all of their holdings. But, once people get used to the market movement and become aware that those scams exist, they start to ignore them.
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Buying cryptocurrency is easy, but keeping it for a long time is not an easy task. 8)
The main problem is people want to play with their Bitcoin. They often try to multiply their holdings by trading, gambling, trying bitcoin doubler websites, and hyip scams as well. Crypto newbies fall into traps because they see too nice offers, but they realize they were scammed once it is too late. They try to move their Bitcoin from one wallet to another and sometimes exchange to stake them to get some free satoshis. Later, they got scammed somehow or lost all of their holdings. But, once people get used to the market movement and become aware that those scams exist, they start to ignore them.
Whenever we are trading with Bitcoin, a lot of things are changed, from its routine to seeing what exchanges it can be placed on, there is also something that we must learn that when we are in the world of trading, we must know that when it is placed some bticon in an exchange even though that bitcoin is ours, it is no longer ours, we are exposed to our bitcoin being managed by those exchanges and thus it stops being ours, we have learned this over time, because there are people who They trust exchanges a lot, of course things are also seen differently when you not only enter an exchange, but also when you go to a casino, and casinos are betting houses and platforms where they have their own rules.
This makes us remember that things must always be kept under our control, private keys that we manage, our funds are safe, the rest, the money is not ours, with respect to Hodl, I only recommend Hodl to Bitcoin, which is the most popular cryptocurrency safe.
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The main problem is people want to play with their Bitcoin. They often try to multiply their holdings by trading, gambling, trying bitcoin doubler websites, and hyip scams as well. Crypto newbies fall into traps because they see too nice offers, but they realize they were scammed once it is too late. They try to move their Bitcoin from one wallet to another and sometimes exchange to stake them to get some free satoshis. Later, they got scammed somehow or lost all of their holdings. But, once people get used to the market movement and become aware that those scams exist, they start to ignore them.
Whenever we are trading with Bitcoin, a lot of things are changed, from its routine to seeing what exchanges it can be placed on, there is also something that we must learn that when we are in the world of trading, we must know that when it is placed some bticon in an exchange even though that bitcoin is ours, it is no longer ours, we are exposed to our bitcoin being managed by those exchanges and thus it stops being ours, we have learned this over time, because there are people who They trust exchanges a lot, of course things are also seen differently when you not only enter an exchange, but also when you go to a casino, and casinos are betting houses and platforms where they have their own rules.
I am sorry, but I did not get your point. Even though you have stated some correct points, those are not related to what I have posted. The thread is about security and safety tips. We all know the points you have posted. But, when you quoted my post to write a reply, you just agreed with my posts, and I do not see anything new.
Newbies get scammed or lose their Bitcoin because they play too much with their Bitcoin. If you don't know much what are you doing, then you should stop doing these things. If you don't understand a program, you should not play with that. It may cause harm.
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Yes safety is most important for everyone. And if it is financial then there is no question. Maybe you have more money in your wallet or after saving every wallet address password, don't keep it online or in any apps. You can write down your password key in a saved diary if you want. You can keep it in a secret place. It seems the best to me. Then you don't have to keep your wallet in any third party apps. Also, always be careful. To keep yourself safe. Where and how you trade can also be very important to you.
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Newbies get scammed or lose their Bitcoin because they play too much with their Bitcoin. If you don't know much what are you doing, then you should stop doing these things. If you don't understand a program, you should not play with that. It may cause harm.
What do you mean by playing, is it about newbies who tend to try new things to at least increase their Bitcoins even a little?
If so, it will be hard for them to understand this. Those people often get influenced by others or social media posts about investments and profits earned through trading. However, they may not realize that such activities require adequate knowledge and time to learn. As a result, they may try to invest without the necessary skills and understanding.
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Newbies get scammed or lose their Bitcoin because they play too much with their Bitcoin. If you don't know much what are you doing, then you should stop doing these things. If you don't understand a program, you should not play with that. It may cause harm.
What do you mean by playing, is it about newbies who tend to try new things to at least increase their Bitcoins even a little?
Yes, It is. I was talking about the same thing you just posted. Crypto newbies tend to follow what social media influencers say. This is why certain coins get pumped when Elon musk tweet about it. But people understand these scams after a certain period of time. There was a time when I bought a bunch of shitcoins because I saw a random twitter influencer post that those coins were going to boom next year.
But in reality, they dumped 10 times. That means, my thousand dollar investment becomes a hundred dollar. Not only those thing, but newbies fall for phishing websites as well. Bitcoin doubler scams, etc etc.
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I believe the safest way to store bitcoins is using a hardware wallet, preferably with the seed phrase stored on a paper. Another one of my concerns is phishing; I always double-check the address before logging in since phishing attacks often disguise themselves as official resources
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Newbies get scammed or lose their Bitcoin because they play too much with their Bitcoin. If you don't know much what are you doing, then you should stop doing these things. If you don't understand a program, you should not play with that. It may cause harm.
What do you mean by playing, is it about newbies who tend to try new things to at least increase their Bitcoins even a little?
Yes, It is. I was talking about the same thing you just posted. Crypto newbies tend to follow what social media influencers say. This is why certain coins get pumped when Elon musk tweet about it. But people understand these scams after a certain period of time. There was a time when I bought a bunch of shitcoins because I saw a random twitter influencer post that those coins were going to boom next year.
But in reality, they dumped 10 times. That means, my thousand dollar investment becomes a hundred dollar. Not only those thing, but newbies fall for phishing websites as well. Bitcoin doubler scams, etc etc.
That's only because a lot of newbies in crypto often made mistakes. After all, they still have sufficient knowledge. Most of the time they end up relying on influencers they see or social media posts that have been hyped up. They still do not know what is the best thing to do with their money in crypto and make the wrong decisions. Doing thorough research is crucial to avoid these pitfalls.
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I see. That's because many newbies in crypto make mistakes. After all, they lack sufficient knowledge about it. They often end up relying on influencers or social media posts that have been hyped up by others. They do not know the best thing to do with their money in crypto and make the wrong decisions. Doing thorough research is crucial to avoid these pitfalls.
Even holding becomes a hard job these days. Holding is supposed to be easier than anything. Now, when someone buys a portion of Bitcoin or some altcoins and holds it in their wallet, after a certain period of time, they start to think, why not try to stake it in a centralized exchange or in a dex swap where they will give me some profits after a period? Most of the time people cannot control themself and end up moving their coin to an exchange or platform that is a unnamed / unpopular platform that was offering high APY on investment. Most of them are likely to scam these users. Sometimes they get triggered by the crypto ads on twitter where someone offer crypto doubling like send me 1 ETH and you will get back 2 ETH after 24 hours.
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Newbies get scammed or lose their Bitcoin because they play too much with their Bitcoin. If you don't know much what are you doing, then you should stop doing these things. If you don't understand a program, you should not play with that. It may cause harm.
What do you mean by playing, is it about newbies who tend to try new things to at least increase their Bitcoins even a little?
Yes, It is. I was talking about the same thing you just posted. Crypto newbies tend to follow what social media influencers say. This is why certain coins get pumped when Elon musk tweet about it. But people understand these scams after a certain period of time. There was a time when I bought a bunch of shitcoins because I saw a random twitter influencer post that those coins were going to boom next year.
But in reality, they dumped 10 times. That means, my thousand dollar investment becomes a hundred dollar. Not only those thing, but newbies fall for phishing websites as well. Bitcoin doubler scams, etc etc.
I though by Playing with Bitcoins you meant opening a bitcoin wallet multiple times a day and checking your balance or tackling your wallet here and there. because that's what I used to do when I was a newbie and got some Bitcoin balance in my wallet for the first time. I literally opened my wallet 10 times a day to see my balance. but now I think it was a bad practice I did. if we don't have anything to do with bitcoin then it is better to not open our wallet unnecessarily. because there are a lot of malewares that can steal your data, and even can control your PC remotely.
and You got some very good points too mate. Crypto influencers (except some) are only behind money and want benefit for themselves. they don't care about anyone else. making investment decision on basis of their advice is really dumb.
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I though by Playing with Bitcoins you meant opening a bitcoin wallet multiple times a day and checking your balance or tackling your wallet here and there. because that's what I used to do when I was a newbie and got some Bitcoin balance in my wallet for the first time. I literally opened my wallet 10 times a day to see my balance. but now I think it was a bad practice I did. if we don't have anything to do with bitcoin then it is better to not open our wallet unnecessarily. because there are a lot of malewares that can steal your data, and even can control your PC remotely.
Yes, by saying playing with their BTC, I also meant that. Not only you but most crypto newbies did the same thing when they had their first BTC on their wallets. Not only that, most of us started our crypto journey with centralized exchanges as a wallet. Back then, coin base was too popular because people could send money one coinbase account to another for free. Then Binance came to the market and now they provide similar offer to their users.
Imagine people connecting their metamask wallet on some random websites that offer airdrop and getting access to their wallet. There are a lot of phishing scammers created web3 websites that needs to connect user wallets to access the website. We never know which one is scam or not.
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In the 6 years I have been here with Bitcoin, I have not had any problems using it; until now, I am still using it, and so far, I have not faced any issues with it.
So what you said is okay, and it will provide additional knowledge about hiding Bitcoin in wallets that can store Bitcoin. As long as possible, the cold wallet is better, and of course, if you are capable of buying a hardware wallet, that is also better.
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I believe the safest way to store bitcoins is using a hardware wallet, preferably with the seed phrase stored on a paper. Another one of my concerns is phishing; I always double-check the address before logging in since phishing attacks often disguise themselves as official resources
This is very bad advice for the part that you said Seed Phrase should be stored on paper. Paper is vulnerable to fire and as such should not be practised. A hardware wallet is the best place to keep your bitcoin since it keeps your bitcoin from the internet and when you are installing one, make sure that your seed phrase is properly back up and inscribed in metal plates at least two and should be kept in two different locations so that in case you lose access to one, you will get access to another one and the metal plates make it resistance to fire and burning.
I also recommend the practise of pass phrase, this makes your wallet to be unique even if they have access to your seed phrase, your wallet is going to generate entirely a different wallet address and private keys if you make use of passphrase on your hardware wallet.
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In the 6 years I have been here with Bitcoin, I have not had any problems using it; until now, I am still using it, and so far, I have not faced any issues with it.
So what you said is okay, and it will provide additional knowledge about hiding Bitcoin in wallets that can store Bitcoin. As long as possible, the cold wallet is better, and of course, if you are capable of buying a hardware wallet, that is also better.
There are many options to keep our Bitcoins safe. I have always thought that the best thing we can do is use our imagination to increase that security. One of the most used options is the cold wallet, but for example key encryption adds another extra layer of security, but unfortunately few people use it, mainly due to lack of knowledge. Engraving those (encrypted) keys in high-density steel is something I do personally, which also avoids problems in case of, for example, a fire... As I say, it's a matter of imagination, and find a way to add another layer of security.
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There are many options to keep our Bitcoins safe. I have always thought that the best thing we can do is use our imagination to increase that security. One of the most used options is the cold wallet, but for example key encryption adds another extra layer of security, but unfortunately few people use it, mainly due to lack of knowledge. Engraving those (encrypted) keys in high-density steel is something I do personally, which also avoids problems in case of, for example, a fire... As I say, it's a matter of imagination, and find a way to add another layer of security.
I don't think it's considered imagination or anything, because after all using a cold wallet is the most appropriate way to think and consider. So maybe it's not imagination, but it really is a mature consideration to use this culture to increase the safety and security of our Bitcoin assets or other coin assets. However, there are still risks and we must remain more alert and careful in protecting all data that is important for accessing the wallet. Likewise by maintaining the privacy and confidentiality of our assets and also the cold wallet.
However, there are still many people who haven't used it, even I am still thinking about using it but haven't realized it yet. the main reason is because I have to buy and sometimes it's not enough. I completely understand that this is not the main reason, but the situation is not in that direction yet. I hope that one day I can have it so that I can be more calm about storing our assets not in exchanges or online wallets which are very vulnerable to cybercrime.
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If you are concerned about the physical security of your backup, make a fragmented backup. This splits the seed into, say, six fragments, with any four needed to recreate the seed. You can then store each fragment in a different location; to get access to your wallet, a thief would have to access four of the six fragments.
I would not recommend this method because it is easy to lock yourself out of your funds and it is hard to make multiple backups of your seed phrase if you do this, that is because you must have an additional backup of each fragmented piece, which leaves you with too many backups, which will be impossible to handle.
Instead of doing this, extend your seed phrase with a passphrase or set up a multisig wallet, these extra layers of security adds more protection to your funds.
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;) Never let all your coins sits in single wallet even how secured this is this is why I have multiple wallets specially in Bitcoin aside from my wallets in altcoins.
I have several Offline wallets and also using some local wallets for short storages .
but all your advise are valuable specially if you can afford buying all those pricey wallets because that is for your own safeties .
remember that our holdings might grow in certain time .
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I believe the safest way to store bitcoins is using a hardware wallet, preferably with the seed phrase stored on a paper. Another one of my concerns is phishing; I always double-check the address before logging in since phishing attacks often disguise themselves as official resources
To avoid phishing, I check the site. It's important to go to the official social networks of the project and verify that the site is official before opening it. This is a mistake that many users make. When it comes to hardware wallets, it's best to use those with open-source software. Ledger is not one of them.
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To avoid phishing, I check the site. It's important to go to the official social networks of the project and verify that the site is official before opening it. This is a mistake that many users make. When it comes to hardware wallets, it's best to use those with open-source software. Ledger is not one of them.
Phishing is always there and it keeps developing and finding a way to get your seed backup or private keys stolen. I don't think that asking the project to official sites and social media accounts it's a good idea because social media accounts or any official network can be hacked and usually add some malware and phishing links into these accounts or sites.
For me, if you want to avoid someone stealing your seed phrase or private keys make sure to never type or paste your keys into any device, app, or site all of them are vulnerable to phishing except for offline devices. The only use of these backup seed and private keys is for recovering your wallet exposing it to any device online is risky.
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Clear clipboards after you copied your private keys. Nothing is safe specially on mobile phones because malwares and viruses could detect it on your clipboard and possibly they will access and get all your coins out of your wallet.
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I don't think it's considered imagination or anything, because after all using a cold wallet is the most appropriate way to think and consider. So maybe it's not imagination, but it really is a mature consideration to use this culture to increase the safety and security of our Bitcoin assets or other coin assets. However, there are still risks and we must remain more alert and careful in protecting all data that is important for accessing the wallet. Likewise by maintaining the privacy and confidentiality of our assets and also the cold wallet.
However, there are still many people who haven't used it, even I am still thinking about using it but haven't realized it yet. the main reason is because I have to buy and sometimes it's not enough. I completely understand that this is not the main reason, but the situation is not in that direction yet. I hope that one day I can have it so that I can be more calm about storing our assets not in exchanges or online wallets which are very vulnerable to cybercrime.
It is clear that there will always be a risk, but what we must do as users and owners of our assets is to minimize those risks. 100% security does not exist in any area. I still think that using our imagination to find the best ways to protect our coins/tokens is not crazy when it comes to dealing with potential attacks and vulnerabilities. Hardware wallets are not a bad option, but I don't like them too much because not all of them are open source and that can be dangerous too. On the other hand, using an encryption algorithm, having several backup copies stored in different places and other things that we can think of that make our assets more secure will leave us "a little bit" calmer in that sense.
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The three listed tips are valid points of security. More especially, the storage of private keys offline is something that some people today are not very conscious of. For a long time, I have not used TrustWallet, so I decided to download the app again on my phone to create a new BSC wallet. I noticed that they have updated many things about the wallet, but what actually surprised me was that as I was creating a new wallet, I was asked to either export my wallet to Google Drive or copy it down on a note. It's really nonsense for a wallet to ask you to export your private key to another server like Google Drive because it's just the same thing as exposing your private key to the public; it can easily be accessed through any easy hack. Please guys, I urge you guys to be mindful of the wallet you are using.
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To avoid phishing, I check the site. It's important to go to the official social networks of the project and verify that the site is official before opening it. This is a mistake that many users make. When it comes to hardware wallets, it's best to use those with open-source software. Ledger is not one of them.
Phishing is always there and it keeps developing and finding a way to get your seed backup or private keys stolen. I don't think that asking the project to official sites and social media accounts it's a good idea because social media accounts or any official network can be hacked and usually add some malware and phishing links into these accounts or sites.
For me, if you want to avoid someone stealing your seed phrase or private keys make sure to never type or paste your keys into any device, app, or site all of them are vulnerable to phishing except for offline devices. The only use of these backup seed and private keys is for recovering your wallet exposing it to any device online is risky.
Phishing is an ever-evolving threat. To secure my core assets, I have taken the following steps:
Firstly, I created a new wallet and stored the seed-phrase offline.
Secondly, I do not connect it to any site and instead transfer tokens from address to address.
It is ideal to have a separate wallet on another device. This device should not have the ability to surf sites or download other files. Additionally, a cold bitcoin wallet can be created and never connected to the internet to ensure the seed-phrase remains uncompromised.
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Firstly, I created a new wallet and stored the seed-phrase offline.
Storing the seed-phrase offline also requires a media that is resistant to damage so that it will secure the seed-phrase.
Many media such as steel plates, aluminum etc. can be used to print seed phrases.
Instead of just using paper which will certainly be easily damaged and eventually can no longer be read, this will make the wallet inaccessible.
Storage is also important and should be well-thought-out.
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Storing the seed-phrase offline also requires a media that is resistant to damage so that it will secure the seed-phrase.
Many media such as steel plates, aluminum etc. can be used to print seed phrases.
Instead of just using paper which will certainly be easily damaged and eventually can no longer be read, this will make the wallet inaccessible.
Storage is also important and should be well-thought-out.
Whatever your backup methods are, you must make multiple backups and must diversify them with multiple backup methods.
Paper, steel plate, USB and on your airgap device too. With backup method diversification, you proactively reduce risk of completely losing your bitcoins when your backup can not be used for wallet recovery.
Probability for one backup is damaged will be bigger than probability that multiple backups in different methods and stored at different locations will be damaged at the same time.
Steel plate backup reviews
A Treatise on Bitcoin Seed Backup Device Design (https://blog.lopp.net/a-treatise-on-bitcoin-seed-backup-device-design/)
Metal Bitcoin Seed Storage Reviews (https://jlopp.github.io/metal-bitcoin-storage-reviews/)
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Firstly, I created a new wallet and stored the seed-phrase offline.
Storing the seed-phrase offline also requires a media that is resistant to damage so that it will secure the seed-phrase.
Many media such as steel plates, aluminum etc. can be used to print seed phrases.
Instead of just using paper which will certainly be easily damaged and eventually can no longer be read, this will make the wallet inaccessible.
Storage is also important and should be well-thought-out.
I completely agree with you. I am considering an idea to put a seed phrase on a steel plate. Do you think it is necessary to encrypt the seed phrase in some way? If someone sees it, they could potentially gain access to the wallet.
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Bitcoin is an expensive asset and the security of the BTC comes first. I read many posts related to this that from many users hackers steal their BTC and saw a few people who wrote the wallet phrase on a page and after some time forgot the page where they saved it.
This is a very big stupidity and carelessness they show, and people nowadays face many problems regarding this because of the increasing cyber-attacks. In this situation, this post will help those people who are not aware of this or they showing non-seriousness to their BTC wallet. If they read out this loss and apply it will give them a sense and protect them from a big loss.
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Clear clipboards after you copied your private keys. Nothing is safe specially on mobile phones because malwares and viruses could detect it on your clipboard and possibly they will access and get all your coins out of your wallet.
To be at a safer side. Don't use extension keyboards on your mobile phones, instead you should use the ones that comes with the phone by default. You have more security than using those fancy keyboards that anyone can create and put on Google play store especially the android users that are free and opened source to anyone. Defaults settings are always hard to. Compromise unless the phone is hacked.
Firstly, I created a new wallet and stored the seed-phrase offline.
Storing the seed-phrase offline also requires a media that is resistant to damage so that it will secure the seed-phrase.
Many media such as steel plates, aluminum etc. can be used to print seed phrases.
Instead of just using paper which will certainly be easily damaged and eventually can no longer be read, this will make the wallet inaccessible.
Storage is also important and should be well-thought-out.
Paper is fragile and it's a vulnerable material that can get burn easily. Not only paper should be avoided for back up of seed, any material that is not fire resistant and can withstand high temperature should be discouraged. There are some metal steal that are not strong that in a high tempere region, they are malleable and can deform with high temperatures; this materials need to be avoided.
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Having a lot of backups yes of course, and it can be useful for backups all three other backups lost or damaged due to unwanted events.
I also have some special suggestions for storing seed-phrases, including using some aluminum metal plates or using Blokcmit as a tool to print seed-phrases on Metal Ring media.
I have also read about the storage reviews of the metal Bitcoin Seed and its effects when exposed to corrosion and some stress tests are very bad, many are damaged and cannot be read.
Paper is fragile and it's a vulnerable material that can get burn easily. Not only paper should be avoided for back up of seed, any material that is not fire resistant and can withstand high temperature should be discouraged. There are some metal steal that are not strong that in a high tempere region, they are malleable and can deform with high temperatures; this materials need to be avoided.
The material chosen really must be strong and resistant to all kinds of damage, especially at very high temperatures that can melt a piece of steel or can damage the printed letters.
It has been explained in full in the Bitcoin Metal Seed Storage review
https://jlopp.github.io/metal-bitcoin-storage-reviews/reviews/cryptotag/
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I would add the following about safety:
1. Do not go anywhere (websites, etc.);
2. Do not trust the first people you meet on the Internet;
3. do not buy crypto wallets from unverified sources; :o
I agree with you of course these things need to be given utmost importance as there are many frauds nowadays if wallets are purchased without verification. Don't trust everything. There are many website based people who try different ways to cheat people, so it is necessary to have such a plan.
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Storing the seed-phrase offline also requires a media that is resistant to damage so that it will secure the seed-phrase.
Many media such as steel plates, aluminum etc. can be used to print seed phrases.
Instead of just using paper which will certainly be easily damaged and eventually can no longer be read, this will make the wallet inaccessible.
Storage is also important and should be well-thought-out.
For creating a basic storage wallet, it is recommended to avoid using modern smartphones. These devices have not been fully explored yet, and many apps have unlimited access to smartphone settings, including folders where data is stored. Therefore, it is unknown what data they are sending to the network. If you choose to use a smartphone, it should only be as one of the signatories for a multi-signature wallet.
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The most effective way to keep Bitcoins in your account is to use the most secure wallet. Hardware wallets are definitely recommended for selecting the most security complete wallets, but in cases where it is not possible to use these hardware wallets in all situations, there are some software wallets that can be used. To keep your bitcoins safe, do not share your account information with anyone and keep your personal wallet information private as much as possible. Account personal information must be stored in a location where no one but you can collect that information. After maxing out your wallet, you need to secure your device and ensure that no one but you can access your device. If such precautions are taken then I believe your bitcoins will be safe.
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The most effective way to keep Bitcoins in your account is to use the most secure wallet. Hardware wallets are definitely recommended for selecting the most security complete wallets, but in cases where it is not possible to use these hardware wallets in all situations, there are some software wallets that can be used. To keep your bitcoins safe, do not share your account information with anyone and keep your personal wallet information private as much as possible. Account personal information must be stored in a location where no one but you can collect that information. After maxing out your wallet, you need to secure your device and ensure that no one but you can access your device. If such precautions are taken then I believe your bitcoins will be safe.
You are right even though I don't understand what exactly you meant by "max out your wallet", I will or would appreciate it if you did be kind enough to throw or shed more light on what you meant by maxing out wallet.
One thing I've actually come to believe is that, when it comes to keeping our bitcoin, and the rest of our other cryptocurrencies safe, we are our own security, whether we are using a hardware wallet or not, for even a hardware wallet is very hackable if the owner is not careful enough with the devices wallet private keys of seed phrases.
This is why it is very important for us all to always adhere to security protocols and processes, and also important is that, we should not over do things, for I have seen someone misplace his wallets seed phrase in the process of trying to hide it where no other person can find it except himself.
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I would add the following about safety:
1. Do not go anywhere (websites, etc.);
2. Do not trust the first people you meet on the Internet;
3. do not buy crypto wallets from unverified sources; :o
I agree with you of course these things need to be given utmost importance as there are many frauds nowadays if wallets are purchased without verification. Don't trust everything. There are many website based people who try different ways to cheat people, so it is necessary to have such a plan.
and do not use your Mobile with wallets to any other sites specially link checking becasue it will be compromised , better to use separate
gadgets from your crypto gadgets to your normal using mobile .
this is what I am doing to never let issues comes my way in terms of security so not just unverified sources but try to use
off line wallets instead and that is the best way to keep your funds safer.
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1. Separate your bitcoins to hot and cold wallets
Online wallets are called “hot wallets”, since they are at high risk to network based attacks. If you are running any kind of Bitcoin online business, offline (‘cold’) wallets will be a better tool. They are way safer and they are not so attractive for hackers. It would be ideal to keep the bulk of your Bitcoin funds on the cold wallet. And for your day to day Bitcoin transactions keep just a small float of your Bitcoins on your online wallet.
The safest wallets are offline wallets and for day to day transactions you need an online wallet surely for fast and easy transactions but i would still recommend a non custodial hot wallet where the keys of your wallet is in your possession. Using a custodial wallet is risky as the private keys are not in your possession and one can easily get scammed or exchange can get hacked.
2. Store private keys offline
This is a very essential part every bitcoin investor should take note of, storing of private keys online will expose the keys and your assets to hack attacks that will lead to asset theft. It is very common nowadays so to safeguard our assets we should store our keys offline away from internet connection as anything connected to the internet can be compromised.
Storing offline doesn’t mean we should keep them in a place we can easily forget but rather in a place we can easily access them and also it would be wise to make duplicates and storing each in a seperate location in case any unexpected situation.
3. Use fragmented backups
Never thought of this but this sounds like a smart idea making it very difficult for anyone to use even though they come across any fragment. But it would be wise to make duplicates of each fragments in case of unexpected situations.
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and do not use your Mobile with wallets to any other sites specially link checking becasue it will be compromised , better to use separate
gadgets from your crypto gadgets to your normal using mobile .
this is what I am doing to never let issues comes my way in terms of security so not just unverified sources but try to use
off line wallets instead and that is the best way to keep your funds safer.
Yeah, I know, I've heard about this way. But I haven't used it. Haven't used it, for the reason that it takes a large amount of action.
There are a few questions on this topic:
- Do you disable Android/IOS updates?
- I take it you do not connect your smartphone to the Internet (Wi-Fi) network in any case?
- How long have you been using this security method?
- Tell us about any problems that have occurred.
P.S. If you don't want to, you don't have to answer. But it is really interesting. Especially have never, used this method before. 8)
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Storing the seed-phrase offline also requires a media that is resistant to damage so that it will secure the seed-phrase.
Many media such as steel plates, aluminum etc. can be used to print seed phrases.
Instead of just using paper which will certainly be easily damaged and eventually can no longer be read, this will make the wallet inaccessible.
Storage is also important and should be well-thought-out.
For creating a basic storage wallet, it is recommended to avoid using modern smartphones. These devices have not been fully explored yet, and many apps have unlimited access to smartphone settings, including folders where data is stored. Therefore, it is unknown what data they are sending to the network. If you choose to use a smartphone, it should only be as one of the signatories for a multi-signature wallet.
Usually the smartphone will provide information that there is an application running in the background, and it is better for the wallet installed on the smartphone to be equipped with high security, for example, having to provide fingerprint verification or other security systems. So far, smartphones are still not completely safe, so you have to remain vigilant.
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2. Store private keys offline
This is a very essential part every bitcoin investor should take note of, storing of private keys online will expose the keys and your assets to hack attacks that will lead to asset theft. It is very common nowadays so to safeguard our assets we should store our keys offline away from internet connection as anything connected to the internet can be compromised.
Storing offline doesn’t mean we should keep them in a place we can easily forget but rather in a place we can easily access them and also it would be wise to make duplicates and storing each in a seperate location in case any unexpected situation.
Not only offline storage that must be considered, but the media used to store or print the Seed Phrase also needs to be considered.
Karen, if you only store it on a piece of paper, it is very easy to break.
Many print media change steel, iron, stainless plates that can be chosen to store seed phrases and the price is also quite comparable to the quality provided.
Also, make sure to have well-stored backups in various places, Backup1, Backup 2 etc.
https://thebitcoinhole.com/seed-backup
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2. Store private keys offline
This is a very essential part every bitcoin investor should take note of, storing of private keys online will expose the keys and your assets to hack attacks that will lead to asset theft. It is very common nowadays so to safeguard our assets we should store our keys offline away from internet connection as anything connected to the internet can be compromised.
Storing offline doesn’t mean we should keep them in a place we can easily forget but rather in a place we can easily access them and also it would be wise to make duplicates and storing each in a seperate location in case any unexpected situation.
Not only offline storage that must be considered, but the media used to store or print the Seed Phrase also needs to be considered.
Karen, if you only store it on a piece of paper, it is very easy to break.
Many print media change steel, iron, stainless plates that can be chosen to store seed phrases and the price is also quite comparable to the quality provided.
Also, make sure to have well-stored backups in various places, Backup1, Backup 2 etc.
https://thebitcoinhole.com/seed-backup
Paper can easily be damaged as it is too fragile, and in case of unforeseen circumstances it is not reliable and will get damaged easily. Strong materials like steel, metal or iron are should be considered more and can offer more protection against damage. Also duplicate backups are necessary incase one forgets about where s/he stores them or maybe something happens.
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Paper can easily be damaged as it is too fragile, and in case of unforeseen circumstances it is not reliable and will get damaged easily. Strong materials like steel, metal or iron are should be considered more and can offer more protection against damage. Also duplicate backups are necessary incase one forgets about where s/he stores them or maybe something happens.
Yeah, while paper is not really very safe, I think there are other means to support it that can make it more safe. There was a sophisticated plastic container I saw one day that has a very thick rubber skin that water cannot penetrate, and it also cannot corrode or rust because it's made of rubber.
If perhaps you write down your secret phrase and place it in such a container and bury it somewhere in your house, it can stay for years without anything happening to it.
Storing secret phrases on papers will easily be duplicated depending on how you secure the paper, like what you said, there is always a need to have the phrase duplicated on a different paper.
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Yeah, while paper is not really very safe, I think there are other means to support it that can make it more safe. There was a sophisticated plastic container I saw one day that has a very thick rubber skin that water cannot penetrate, and it also cannot corrode or rust because it's made of rubber.
If perhaps you write down your secret phrase and place it in such a container and bury it somewhere in your house, it can stay for years without anything happening to it.
Storing secret phrases on papers will easily be duplicated depending on how you secure the paper, like what you said, there is always a need to have the phrase duplicated on a different paper.
The safest way to store secret phrases is to print them on paper, cover them with a thick layer of security that can still be read without having to open the protector, and put them together with several other important certificates, for example, house certificates or other important files, so that the family can find them. secret phrases that you have and that can be used easily.What is certain is that this method is so that when something happens to us in the future, the family can still utilize all the digital currency assets that we have, which can help ease the burden of problems in your family when something bad happens to you.
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Yeah, while paper is not really very safe, I think there are other means to support it that can make it more safe. There was a sophisticated plastic container I saw one day that has a very thick rubber skin that water cannot penetrate, and it also cannot corrode or rust because it's made of rubber.
If perhaps you write down your secret phrase and place it in such a container and bury it somewhere in your house, it can stay for years without anything happening to it.
Storing secret phrases on papers will easily be duplicated depending on how you secure the paper, like what you said, there is always a need to have the phrase duplicated on a different paper.
The safest way to store secret phrases is to print them on paper, cover them with a thick layer of security that can still be read without having to open the protector, and put them together with several other important certificates, for example, house certificates or other important files, so that the family can find them. secret phrases that you have and that can be used easily.What is certain is that this method is so that when something happens to us in the future, the family can still utilize all the digital currency assets that we have, which can help ease the burden of problems in your family when something bad happens to you.
And then maybe store it in safety deposit box in a bank and have someone access it in case something bad happen to you. But in any case though, every one of them has single point of failure. Even here, what if you and your wife divorces or she secretly access it early?
So it's really hard to think of it, but just remember to have everything in place though. Everyone is very different as far as backing up or making sure that this investment is secure. One tip might not be enough for everyone, so look for what's going to fit yours.