Bitcoin Forum

Remember Bitcoins are not like PayPal or any other e-money.

There is no way to recover lost Bitcoins. Make sure to save and store backups safely. Your wallet is your money.

Most wallets offer a recovery seed. Treat the recovery seed like your Bitcoins themselves.

Remember whoever has your backups or recovery seed basically owns your Bitcoins.

Thanks a lot for your kind information.actually i stored my seed/private key in a safe place that only know me.But Now I am afraid what will happen after my sudden death or any accident.so why I am thinking I will share it with my mother.

Ledger nano s is really great, I'm happy with it and it seems to get recommended a lot. It's obviously not as cheap as a diy paper wallet solution, but I'm glad I went ahead and got one! It keeps your key secret and, apparently, even on an infected computer. If you lose it, there's a combo of key words you get when you first get it that you can use to recover your key, pretty kewl.

Yes, Trezor and Ledger Nano can avoid most of the problems as long as you save the recovery seed safely.

Thanks for the info on the Nano. I will look into this item

Well, nobody is born wise :)

Ledger Nano S is a good choice.

From the MyEtherWallet website I also learned about Digital Bitbox. I must however say I don't know anything about them or if they're trustable at all.

At best, they haven't proven themselves nearly as much as other hardware wallets alternatives.

If you backup your seeds and   private keys it could be safe even you are holding  your bitcoin for a long time in the same wallet..
Only seeds and private keys are important but take not you should test your private keys and seeds so that you can know in early stage that your save seeds and prive key are working..
There are lots of member honestly are experience to forgot the priv keys and seeds so i recommend to have  a notepad copy and place it in your drive d or any drive in your computer but not in drive C: where your os is install. .


Ledger  nano s would be a good choice and trezor is must for more protected wallet because trezor was protected in keyloggers and immune in viruses..
Ledger nano could also immune in  viruses but they didn't mention that you are safe in keyloggers.

All i do is to save my private keys print it in a paper and place in a safe zone inside our house,i dont want to save any files on my computer.

ledger nano is for hardware wallet,how about windows and android,ios wallet can you recomend for me a better one?

For Android you can use Trezor.

There is also an issue of hacking. Recently, there are so many airdrops that many people are just in a haste downloading the wallets not even checking if there is a virus in it. Some will take advantage of just creating coins and then let people download the wallets. After downloading, they can access the files of those who download and then if someone stored important information in their PC like their 2FA or passwords in sites then they can easily get their coins. The best would be to store the coins in hardware wallet and have back ups of everything in case the hard drive of the computer crash.

These are some fine basics everyone should apply when entering new world :-)

While part of this is true, the one who has your seed still needs your passphrase in order to take full control of your money and your wallet. But I think most of here get the gist: backups and recovery files are essential in keeping your coins safe, so taking care of them as much as you take care of your bitcoins is a great thing to keep yourself from theft and hacks.

That's one of the reasons why it's important to set a passphrase (encrypt your private key).

Many many thanks to you for the awesome advice. I agree with. Bitcoin is not similar to other currency. It's not possible to recover lost money. Because Bitcoin is a decentralized currency. It's not possible to track any transaction. That's why every Bitcoin user should thinking about Bitcoin wallet security.

Important info for all newbies, thank you for bringing it up as a new topic ;)
Cheers

I think everyone should know these things before starting earning or buying Bitcoins.

I believe that buying and taking action with bitcoins is a total risk and stupidity without proper protection of the porphyrus. This is the most buggy all beginners who want to earn a little money.

This is good information. Please make sure to mention phishing scams that is at all the time high. Also, we have cold storage options that are very good for storing large amount of bitcoins.