Top 3 Bitcoin security and safety tips

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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.

[Learn Bitcoin]

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.

[Evgenklm]

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

[DabsPoorVersion]

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.

[Learn Bitcoin]

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.

[Jamal Aezaz]

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.

[Learn Bitcoin]

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.

[gunhell16]

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.

[Gurujebs]

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.

[Freemind]

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.

[sampoerna]

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.

[Z-tight]

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.

[bitterguy28]

  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 .

[owlest]

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.

[BitMaxz]

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.