Bitcoin Forum

While I was scrolling through some tweets today, I came across someone's tweet regarding Bitcoin
https://i.imgur.com/dLXluMm.jpg
Firstly, I don't think he's a Bitcoiner because he said "password" . Bitcoin wallets are mostly about recovery phrases or private keys.
I think that he may not be informed on the fact that one can back up his/her unique phrase or private keys in various places so they don't get into such trouble of misplacing it(which is what most of us are doing).
But then; Secondly, he is also making a point. We are all getting excited, and probably even buying more, but we've forgotten that we need to be more conscious of our backup. Most of don't even back up properly, we just screenshot our phrases forgetting that screenshots can be seen by others and even be deleted by anyone. Let's be cautious about our backups, check them if they still exist where you kept them and be sure if you need to replace them.

He probably mean passwords of bitcoin wallets, probably pin of app wallet on phones.

If it once happened that you lose access to a wallet, you wouldn't want it to happen again. This is why I have taken extra effort to realy pile the txt files and png files I have on a directory where they all stay.

Some wallets doesn't allow their seeds getting screenshots so you have to manually write the seed. Tokens and coins you invest are money so you should take it seriously by keeping records and files.

Many people screenshot their seeds or store them digitally, which is a bad practice. It's better to keep them offline, and in multiple locations.

Hardware wallets have made things easier than ever. You don't need the seed or private key to spend regularly.

Just write the seed down and put it somewhere safe. It's a good practice to use BIP39 seeds with an additional passphrase. Even if someone gets a hold of your seed there's still a passphrase that stands in the way of them being able to steal your BTC.

I believe he means the same. I just want to recommend to never write seeds, private keys...in text file or image or whatever file in your pc or phone, tablet... You risk to lose it in case of hardware/software failure or being stolen or hacked. Of course do not upload it anywhere. You better write it in a piece of paper (and memorise it if possible) and hide it in a safe place (other than a bank :P )

Clearly the best way it's to put seeds on 2-3 paper pieces or something and put it in mutiple location.

Store them digitally is always risky, with a computer always connected to internet you loose the word "cold" of cold storage.

People can really call out those keys could be password or something and its all the same since these are the access into your wallet.

Fun and excitement will surely be lost once those coins would be lost nor locked due to lost password.This is why its always important that you should really
be careful into those keys and keep it safe as possible out from other peoples awareness and never ever lost it.
Consider this to be a key and once you lost then you cant access those coins.

If youre careless then you would really be ending up on this kind of situation thats why we should take it seriously on keeping those seeds because lots had already lost tons of money due to that carelessness.
Safety of your coins will depend on how you do keep those keys.Imagine on having an atm card and you have forget the key or other people stole it and try to access? If they dont have the password
then theres no way that they can really get those money and same goes here on crypto. Dont let others know your key so that it wont be stolen and you do have the access.
Always remember that No keys = No coins.

Hmmm. Of course. In every wallet, there is a uniqur pattern, seeds or private key that is given to the owner. He must be aware to hide it, or to restraint it somewhere for it will not be able to seen by others. In order to avoid someone getting access to your own wallet. Yes. My bitcoins are safe but not now because wayback in 2018 I have a lot of it. I used to earn profits in bitcoin yet today I don't have any other ways to earn and mine it. But I don't agree to the idea of memorizing it. Some people aren't good with that. And I agree to rhe idea of putting it in pc or phone. Just put some passwords or your phone isn't gonna show it when you hide it and put some passwords too.

It is actually "AND" memorise it if possible and not "OR". Putting it in your phone or pc while connecting to the Internet is still risky. Protecting the file with a password in rar folder for example? isn't enough. It is do it at your own risk.

This is a timely reminder for every bitcoin and crypto currency token hodler, first law is to avoid centralized wallet storage system, while the second law is to ensure that you use a decentralized wallet and also be responsible in safeguarding and keeping your private keys, seed phrases safe. Your first job is to secure your wallets because that way you secure and guard your investment and portfolios. Do your own research about the best cold storage wallets and decentralized wallets.

It also means private keys. If you are ignorant about protecting/securing your wallets keys, then it's going to be hard when in the future.
I saw a lot of users running around looking for their imToken private keys when LON airdrop was distributed. These people would have benefitted from it if they were careful with their keys from the start, but here we are

As much as possible always have backup or if plans to save the seeds digitally make some code that will changed the password it self like adding new letters and number within the code, don't put all also in one wallet onrle site it's better to have trezor but still have trusted wallet that can save some of more bitcoin for trading purposes. It's hard to save and buy BTC now so be very careful in keeping it safe.

Well, the first thing is when you are holding bitcoin you should know the function of the wallet and how to keep your bitcoin secure. A private key is very important. This is just like a key in your house, if you lost this, you cant enter your house anymore and get your valuable thing. It seems the same thing in a bitcoin wallet, you should have full control of your bitcoin wallet and keep the seed safe not just by a screenshot nor write it down on a sheet of paper and make multiple copies and store it in a safe place where you are the only one knows. Threat your bitcoin as valuable stuff, and be responsible for it by keeping the seed safe.

That is irresponsible keeping of private keys if you just screenshots and save the file. Somehow effective if it's not a long term keep but you need to keep the words themselves safely. Best is written and then keep another one, maybe a file that's encrypted or with a password that only you can open.
I remember that there's one bearish person about bitcoin or at least a hater of it saying the same thing about password.
I can't remember if it was Peter Schiff or someone who's also related to him. I myself keep my bitcoins in a safe place with back ups.

He's not talking about private keys but wallet passphrase.

I've been there and I can tell you that if you're holding for a long time it's not hard to forget your password. I gave my close friend a wallet once and told him that in case I got hacked or something it's good if he has at least 1 bitcoin on his device. It was more than 4 years ago.

When bitcoin went up to 20 thousand I asked him if he still has the wallet and he panicked because he did not remember the password at first. When you're not a bitcoiner and don't use your wallet for payments every now and then you forget about it.

Finally we were able to find the password because he had maybe 10 commonly used ones and we kept trying one by one until the wallet unlocked :)

Use things you will remember guys. Not some random words and numbers!

Maybe it will be clear enough if we really know where he stores the Bitcoin. If it is on exchange and he loses his password, he can do "forgot password" or contact the support of the exchange.
However, if he means the password/PIN/private key/ keystore+passwprd, or other data that are used to access the wallet, and he loses it, it means that he will also lose his assets.
It has been many cases like this where many people especially newcomers forgot to backup their very important data to access their wallet or exchanges. We already know that losing a key/password or everything means losing the assets. It, again, becomes an important lesson for us.

I remember this to my friend who had lost 0.008 Bitcoin on his wallet because he forgot the password and seed phrase.  I helped him but we didn't recover the lost bitcoin even he trying to remember the seed.  I told him that he should have a lesson to learn about keeping the seed safe and should have a back up, the amount that was lost is considered a big amount here in my country and until now we didn't get it back.

Once we had to hold Bitcoin, we should also know that we are responsible to keep it safe including the seed phrase and the password.  There are too many ways to keep your seed safe and also should always have back up.

This is the most important when people want to invest in Bitcoin, they should also know how to store Bitcoin properly not lost, and also theft.

Using the "password" word to say or mean the private keys/seed phrases can help some non techy or beginners or no idea yet in cryptocurrency is a good choice.

Btw, for what I really learned first when I started to own Bitcoin is the security of my Bitcoin, like the difference of deterministic and non-deterministic Bitcoin wallet, centralized and decentralized exchange.

What is trying to say that he is working to crack the crypto wallet password? If he gets mind, he'll get nothing because I don't save my Bitcoin on my wallet but already withdraw it.

It was too crazy why some people spending time on this, do the hacking, to get others money? Because no matter how careful you keep your wallet safe but we can't assure that it all be enough to get safe, in fact, exchanges are also experiencing this one knowing that they have such strong security passwords, unlike us that we are just protected by phrases or seeds.

Once I wasn't aware of the security features available with every wallet. I lost big fund to fraudulent wallet creators and scammers during the early days of my bitcoin life. Later I started to use much trusted and reputed cryptocurrency services. Now I prefer 2FA for almost everything associated with bitcoin. This makes my security stronger.

Bitcoin will only be safe if put into a hardware wallet. As long as your funds are in a third party you are not sure of where your funds gonna be. It could be hacked by anyone or just be stolen by anyone. Trust system will be the setup, which in the first place Bitcoin want to solve. Bitcoin allow us to freely have the full control over our fund, but putting it in an exchange or third party wallet will risk all your funds. A hardware wallet is the only wallet to safely store bitcoin.

I feel I was safe already but not totally safe. We know how smart are these hackers, can't deny that.

As just like what people say above, we need to keep our keys secured offline, not by storing them on the PC or in phones but keep hiding them separately that no one can access but only you or some in your family member.

Not even fun if we lost our passwords with lots of crypto coins in our wallets. Probably that tweet made a point.

We don't sometimes aware that we aren't securing well our seed phrases and passwords. Perhaps we are forgotting that we should secured even our pins. I don't do screenshots as it may cause trouble in the future, instead i do write it in a paper and store it in secured place where im the only one who know where it is.

Exactly, just like you have a treasure in a vault and you are the one who holds the key, of course, you will take responsibility for your key from possible hacks and theft. Dont let anyone hacks or stole your bitcoin, just do and make a step by step process that could protect your asset. Because if you know how to invest bitcoin, you must also know how to secure a good wallet.

People lost bitcoin because of a lack of knowledge, they cant protect very well their asset and the scammers and hackers will always there waiting for weak bitcoin holders to be next to their victims.

In my opinion, the lack of understanding why passwords, seed phrases, passphrases, digital keys are so important in the cryptocurrency space comes from the fact that people are yet to become used to the electronic ownership concept. People own real estate, cars, and other tangible things, things that have meaning and value, these are generally accepted indicators of well-being. Seed phrases, passwords, and other things are just numbers, symbols, letters on a computer screen, how do you prove ownership of these things, how to evaluate their value? How to develop a certain mindset, so that one can start valuing them? The key to understanding is to realize that the cryptocurrency world is different from what we have seen before. Random numbers here are not just numbers but the money that needs to be properly protected from invaders. In the physical world, you protect your home from burglars, in the digital world, you protect the numbers that serve as the keys to your well-being.

I doubt he isn't a bitcoiner, he's speaking some sense as we place priority on backup seeds, recovery phrase and private key without giving attention to password of our wallets. You can easily get locked out of your wallet if you can't remember this password. Few days back I tried accessing my wallet with my back up seeds, without much hesitation the wallet open but it wasn't my wallet because my funds couldn't be found.

It took me some minutes of reflection before I remembered I added some extra security measures to my seed (seed extension) and after I try accessing the wallet with that extension it opened. Assuming it couldn't have remembered that seed extend that means the funds would had been lost forgiver.

On other note probably the tweeter is a newbie and the best way he/she could have passed his intended massage was to used password instead if the usual words.

Asking about password when it comes to a coin like Bitcoin shows he have limited knowledge and understanding of Bitcoin because there is nothing like password, however there is only private keys, and this is what makes the owner of the private keys to have the sole power to access his wallet anytime any day and from anywhere in the world. In addition, there are mobile wallet developers who adds some sort of additional security like pin, biometric or password such that, no unauthorized person can access the wallet and steal the funds, but should in any case the person gets hold of the private keys, funds will be stolen; thus I don't think private keys can be likened to password. Lastly, I agree with you, it is very important to be mindful of how we save our private keys, screenshots are not worth it but saving in a paper form offline and kept in various locations or secret place is the best way.

For me the bitcoin in my wallet is safe and I don't have any doubt that hackers will hack it because all the sevurity that I need to enabled Is already there to keep my bitcoin secure. Enabling 2FA for the wallet that you use will minimize the posisble to hack because even the hacker get your password they need still a code to open the wallet and it's really hard to get that code like if the code send to the sms but in gmail you need to secure because once hackers hack all the accounts registered to that email will open.

I lost one wallet last year. Forgot 12 mnemonics. All cryptos in it lost now. I forgot where I write down the words. Now I have become careful now. I also suggest checking your phrases if they exist in your control.

How much the bitcoin it has the wallet that you lost? Others also lost their wallet because they forgot the details of the wallet or they did not save it . Like those people who are care about bitcoin in the year 2009 they have thousands of bitcoins but they lost their key and they did not open their wallet and they lost millions of dollars and that is very sad to happen if the money that you lost on you is very huge amount.

This is a very scary thought to need to think about but if we are dealing with digital currencies than its something we must consider at all times.

With so many "hacks" and coins going missing it is one of my biggest fears that 1 day I try to check my balance and my coins are gone. 

If my eToro account is hacked and I lose my coins, the KNPA would have no idea to help me and might not know what Im even talking about.  Just make sure to use extra caution and you should be ok.

Exactly! We most times think that we have securely backed it up but it may not be totally safe or maybe it isn't even there anymore. I suggest that regular confirmation of the backup should be done because no one knows the day things could go wrong. Those that store in the phones should know that it's wrong, not just about someone stealing it but imagine you lost your phone. So, we really should put these into consideration in other to avoid any form of loss.

I would like to think that my funds are safe, having my own recovery key and store in a place where only I have knowledge about feels safe enough although we can't be too careful,
Sometimes you can even forget where your recovery phrase are stored, that could be a problem as well, so keeping recovery key and knowing where they are kept are very important.

Keeping and importing it on a trusted wallet is the only thing a bitcoin user need to remember. You should have atleast a physical and soft copy of your private key so that you will never loss your keys in any emergency occur to your life like fire, hack or flood. Sometimes a regular check to your keys will help to make it safe.

Weather it was a password of bitcoin wallet or no , it's still a matter of concern. People use their wallets, downloading an offline wallet is not only common but it is also very convenient. So the chances are if you are going to use an offline wallet and forget the password/ loose your mobile phone / damage it. You are going to loose literally everything. The more bitcoins you have, the more it becomes one of a serious concern. You should invest in a hardware wallet or something which would actually keep your money safe. After a certain value you have to try and invest more in the safety. You can also invest in softwares which have an inbuilt VPN, safety measures, things like that, it doesn't cost much but is worth everything.


A regular check ok the key is not something I would recommend. If you did make a private copy and it is safe, then I do believe that you should only use it in times when you really have to. If you have kept it safe and made a back up lock it up !!!

Plus for unusual circumstances I do believe that you should let your family know or contact some services which deal with this.

Security is the biggest concern when it comes to crypto. I have crypto stored in different wallets and biggest fear that is now disturbing me is that if some hacker is able to get password of my wallet then I cant get my hard earned money back.
Exchanges are somewhat secure but they put restrictions like banks like binance does'nt allow you to withdraw until you have specific no of confirmations or 24 hours are passed.

I personally use a hardware wallet and uses a physical vault to save my seed well it depends on the user how does he/she managed to keep his Bitcoin safe some of the investors holds their Bitcoin on an exchange wallet which is really risky once you forgot your password (if you are not verified or did not undergo KYC) you will be in a serious trouble.

Manually storing seeds in different places is an effective way to avoid things that are not desirable. but is there anything that matches what I feel, sometimes we are busy doing many things, so first save the seeds for a while on your cellphone or PC, then if you have time to move them later, this actually makes us forget and finally lazy to collect the seeds that just scattered.
if needed later, we would search each folder and could not find it.

has anyone experienced it?

If you are investing your hard earned money then you should be careful to back up all the necessary password and the files associated with the wallet. In the beginning many lost their coins because they were not serious about backing up the files and now we have multiple options including hardware wallets to safe guard out coins and with the price booming everyone will take it seriously.

I mentioned this many times... but isn't still the safest way to store you seed be ... put it in a bank safety deposit box?  But do it at two different separate banks with the seed in half? 


Or do it with say four banks... and break the seed into two and thus you have two copies of each in case?

It doesn't even need to be hard earned money. As far as the person invested, he/she must be really cautious about this.


This is a good idea but, the bank isn't reliable if I may say. I'd rather split the phrases in 4, and teach or give them to 4 of my kids(unborn :)), instead of the bank.

This is very important, it tells how matured you are and how educated you are in handling your coins, it's not just about trading, buying new coins and hodling backing up probably is the most important part of getting involved in Cryptocurrency, you should back up properly so you'll never encounter losing your coins.

People most of the time downplay their security thinking these wouldn't happen to them at all. However, statistics show otherwise. And so far the maths have never been wrong. So might as well heed when we say you have to double up on your security, back up if you can. Because this is your hard-earned investment, and once you lose this, it's gone for real.

I rarely store my bitcoins on any exchange platforms, so I think that one made my bitcoins less vulnerable to be gone or stolen. In terms of using the security of the wallet that I use, since I am using them in a full extent that I know, I feel more secure for bitcoins that I owned.
We should still be more careful coz there are lots of bad  people who wants to steal bitcoins on the cyberspace.

Probably an account with his or her bitcoin keys inside but still we are responsible in our own private information. We should have at least save it somewhere else whenever we forgot any access to it. Screenshot is the best but you can also turn it into file and upload it on your back up email or something.

Actually bitcoin funds stored in any form of wallet is safe unless you did not take any precautionary measures to avoid scammers get in to your wallet. I do believe that even web wallet are safe as long as you have the password or private key to your wallet. I myself had bee holding some bitcoin in web wallet and for now I never problem in it but I know the risk is higher compare to other form of storing bitcoin specifically by using cold storage or hardware wallet.

If you're serious about accumulating and storing bitcoins on a bitcoin wallet then it's really a must to take all measures to not lose it.
All your hard work would be a waste if you don't secure it properly. Enabling 2fa so no one can send funds from your wallet without your authorization.
And most importantly, making multiple backups to recover it in case the device you're using gets lost or broken.

It is like a double-edged sword. On one hand, you need to take wallet backups frequently, because there is a good chance that you may lose access to your email (which is used to access the wallet) or due to other reasons (such as hacking). But at the same time, storing the backup can be quite risky. If you store it carelessly, then hackers can steal the backup and then get access to your wallet.

Yes I think that my Bitcoin is perfectly safe because I hold it on my Hardware Wallet.
I also keep it updated and always check it from time to time.
And for some of my BTC that I would spend I keep it on my mobile wallet so they are safe at all.

You are right. Maybe we can use the separate wallet and use it for cold storage of our bitcoin, and only we take to know how to access that wallet. That can minimize the chance to get a scam or steal by other people. The important is we must take care of that wallet carefully, and not telling others about our coins. It is not necessary to show off how many bitcoin that we have to them because that can make them curious and want to know more.

What you said is absolutely right, but it doesn’t guarantee that the place you kept the keys offline won’t be misplaced?
Like for example if you have written it on any paper and bymistake someone throws it out then your keys will be lost.
So according to me it’s better to keep your keys both digitally and physically safe. For digitally you can send it in the email to your siblings whom you trust or something like that.
Moreover i am like a guy, who doesn’t hold a lot. So i have less fear for losing my private keys.

I keep bitcoin seeds on paper and keep them in a vault. In my opinion, storing on paper is safer than storing on Android or on a computer, computers and Androids can die if your computer shuts down automatically your seeds are lost.

depend on the person that is involved on btc . others treat this activity as a past time , hobby or fun and games but to some others like me i dont treat this as fun and games but i treat this seriously because this is where my future rely . every move/drop counts for me . not all person that are involve here use a wallet that has a private key on them but me im only using a wallet that doesnt make me hold my private key but they dont ask passwords instead they ask for pin code , pattern or finger print but it ask a code into the email per login and email needs password .

When you leave your bitcoin in the exchanges, you should be ready for anything that can happen with the exchanges. We heard so much news about the exchanges that got hacked by the hacker, so we need to prevent to hold the bitcoin in the exchanges, and only send your bitcoin to the exchange if you want to trade. The rest of your bitcoin will be store in your offline or hardware wallet, so you have full control and access to your funds.

Hiding your phrase somewhere safe is a very integral part of keeping the BTC secure but checking on it from time to time is important too. Because anything can happen and misplacement can cause you a lot trouble.

I've experienced that as well way back when I was using a different wallet. I just forgot the name. That's why I use my other phone to capture the seed or copy and paste it if the app allows.

Fortunately, the wallet I use now doesn't have seed phrase but pin so I easily memorize it. Also, it can be accessed through fingerprint sensor which I prefer to use so I trust that my bitcoins are safe. The email and phone number linked to my wallet is solely used for such purpose and not for anything else.

It all comes down to type of wallet every individual is making use of, if you’re making use of custodial wallets, then you are going to be needing passwords, (in fact that one is a must for every custodial wallet). In custodial wallets you don’t hold your private keys, it’s being held for you by the third party, although other types of wallets do need passwords too, but you also have to hold your keys and it’s not being held for you. As for those keys it’s necessary that you hold the keys because if you don’t, you’re losing your money. Whether passwords or keys, all of them are important and you have to store them properly, And also use a good wallet.

This should be address to all the newbies out there who are very eager to stock their first bitcoin or any currency that they like to hold because most of the newbies are making this kind of mistake which is very deadly as they can easily lost their money if they forgot to safely save their private keys or backup their recovery phrases.

He's got a point, you know. Many of us just keep on buying and hodling coins without taking time out to put in place the necessary security measures against theft and hackers. Many don't even remember their passwords for custodial wallets or where their back up phrases are such that they can't access their funds.
I believe this is a great advice to every crypto users especially newbies. I'm sure those who have spent some time using crypto know the importance of securing the private keys and backup phrases.

Better seek to it that you always do check your Bitcoin wallets to be sure that it is still secured and no intruders have bypassed your security and not be surprised that you no longer have an access to your own storage. Better see to it that you have all the possible back ups needed to recover your wallet if ever an instance happen that you have forgotten your password to your account. Also secure that no other people have an open access to it so that you will be less vulnerable to theft and hacks because commonly that is the main problem dealing with security once other people do know about your account. Always do check and consider checking your wallet first if it is secured before doing any transactions just to keep your funds safe.

Safety and security of one's assets is one (if not the most) of the most underrated topic in the crypto space. Even today, we see people get locked out of their wallets from time to time due to the fact they've either lost their wallet credentials (priv keys, recovery phrases, etc). The fact that people take these things for granted is surprising. We usually forget that since Bitcoin and other cryptos are decentralized, it means we have a much bigger role to play in ensuring that our assets are safe at all times. It's our responsibility except we move these assets to custodial wallets like exchanges and other financial platforms in crypto.

It will be interesting if we talk about Bitcoin wallets, because it would be annoying if we forgot the password and didn't store the private keys
and recovery phrases properly. Therefore, actually the most important thing when we invest in Bitcoin is not only determining when to buy
Bitcoin or sell Bitcoin.

But an important thing that many investors should pay attention to and forget is how we protect our wallets, and also how to properly store
private keys and recovery phrases. Therefore you have to learn to do good backups when you forget or lose your wallet password. That way
investing in Bitcoin can be very safe.

Private keys, seeds are almost equivalent to passwords in the crypto world so we should also be aware and it is a must to take all preventive measures to prevent getting hacked or losing your keys and your back up to your wallet. I have learned this the hard way before I am depositing BTC to a wallet that I don't even have the keys to anymore, it will be close to impossible to recover wallets with lost keys seeds, and passwords. Don't be overconfident about your security always have the initiative to check and update from time to time.

Guys, be more careful and keep all backups securely!!! Now is the time when everything is easy to hack. So take it seriously!!!

I could relate this in the past.

Not my experience but there are a lot of people who bought Bitcoin and are not serious about holding it or trading it and when the price exploded, they are posting everywhere asking about how they would be able to get back their wallets with their private keys gone, forgotten, and deleted. Some even already threw their PCs where their bitcoin is stored.

By using a strong password, and we store our bitcoin in the wallet that we control, we do not have to worry about getting lose or hack or steal by other people. We can have a responsibility to take care of our wallet because we can control the wallet without anyone knows. And we should have a backup of the password, private keys in a safe place, so if something worst happens to our device, we can install the wallet in other devices and we can directly access our funds.

This is true, I actually looked up some of my wallets when I read this post. I even forgot qhat password I used on some of my wallets, and if I have kept a copy of the seed phrase somewhere else.  Securing your password is a must in crypto that we sometimes forget. It is difficult to recover a wallet if you lose access to it. Always secure your account, always keep a hard copy of your passwords and keep it safe.

It takes just 5-10 minutes to generate the backup file and to store it securely. This could save you from potential heartburn later. During the early days, a lot of people lost their coin holdings to carelessness. I still remember reading about an incident, in which an user lost 25,000 BTC in 2012, because he didn't bothered to enable email confirmation and 2FA to his Bitcoin wallet.

It proves to us that no matter what, we should responsibly keep on our bitcoin right now. We should neither look for the safest wallet we could  not even hardware like ledger can be safely trusted. In fact attacks can be so prone to bitcoin holders that it can possibly the next topic for next weeks' hacking, just IMO. But possibly right....?

 these kind of negligence can't cause trouble to the network, it caused stubborn to the holders lol.

I don't remember how many Bitcoin I was holding. Also, I was using multi-coin wallet. The seed phrase contains other alts too like BNB, Ether, tron etc. I think it's not less. I lost multiple wallets. Also, I didn't save wallet address. So that I can track balance. It's gone for good.

Just how careless people are about Bitcoin in the past.

That amount, 25, 000 Bitcoins is a huge amount right now, especially that we are still rallying. I don't know what happened to that guy but for sure, despite the years passed, he is still regretting he didn't enable tha email confirmation and 2FA. I think the title should not be "Are your Bitcoins safe?" It should be something like "Are we aware of our Bitcoins' safety"

That's one of the worst one reason why online wallets isn't as safe as they say because as long as you have the phrase key or the seed, it is good. And when you lost it and you don't have any otger back up where to put them, it is not good. People always say that online wallet or multiple erc wallets are safe yet it doesn't that safe as they say. For me, I alsp use it but it is better to have some back up wallet rather than losing all of ypur funds in just 1 wallet. Make sure to save all seed keys and phrase keys and hopefully this will be a lesson to you.

Yeah he probably mean passphrase mate. But passphrases/pins are easy to access if forgotten just by importing private keys/seed phrases to another wallets but if you lost the private key or the seed phrase that is a different story because that is impossible to recover our funds. We really need to store it in the safest place. Copy pasting of private keys and master seed is sometimes risky since it will be stored on clipboards that be hacked through apps or programs running on our devices everytime we connect to the internet.

I guess he probably mean the password for your bitcoin wallet, he isn’t a bitcoiner if not would have preferred using the word recovery phase or private keys. Bitcoin is decentralized and can only be accessed using a digital wallet and in other to keep your seed safe the wallet can only be accessible using private keys and recovery phrase.

These methods make the using of Cryptocurrency safe for its users and by all means the private key or recovery phrase should be kept in secure location. It’s going to be total loose if wallet details is lost and forgotten.

Yes, I learned it in a hard way. Now I try to write down them in safe place in offline. I also suggest others to keep a back up in paper. Don't keep a digital copy as it's risky.

Compared to Bitcoin wallets, ERC-20 wallets are more prone to hacking. So if you have any ETH or ERC-20 tokens, then take additional precautions to secure them. And you need to remember that cryptocurrency transactions are irreversible. Once your coins are gone, you are not going to get them back. I am sorry for your loss, but you need to move on and be more careful in the future.

No i cannot believe that bitcoin safe. Just because of the bitcoin was not safe, is not safe and Won't safe. Many of the hacker always set up his studio for hacking many bitcoin from other btc worker. And many of the scamer always scam in this site. So i want to say that bitcoin is not safe.

Sketchy.
Imagine how many wallets are having huge amounts but there are only isolated cases wherein such thing occurred and most of it includes user fault (based on what I've heard from other users). Never share your private keys, that's the main thing. If important details are compiled to something, a file as an example, make sure to secure the file in order to not be accessed instantly. Once there are other people who knows your private keys, not only in this industry, you will be exposed to risk of being hacked. Bitcoin is a safe crypto as it is now getting broader support from different governments. And concerns regarding wallets being exposed to hacking instances or issues, I think, is another concern.

That is too difficult to store, why not using a private folder on your personal computer that consists of all of that password of your wallet, even the password of the email that you have used on enabling the two-factor authenticator. So that you can easily check if you forgot the passcode, and it is safe since the device is yours. Just don't let other people open your private folder, trust no one when money is involved. There are lots of people who are losing money because of that. Hacking is also possible, so you need to be careful about the websites that you are browsing.

Our wealth or even Bitcoin investments would be nothing if we'll not be mindful or careful of our wallet passwords. There are ways to store our earnings safer such as using a hardware wallet which I have been doing for years. Entrust your private keys with a trusted person only or keep them well by at least writing it down on a piece of paper and secure it in a safe place so you won't have regrets in the future.

I'm somehow skeptic on your story especially on that part where your bitcoin where took out from your wallet. Did someone obtain that piece of paper that your wife threw? What are the chances that someone has enough knowledge on bitcoin that will use those words on that paper and use it to access a bitcoin wallet? I'm confused on what might have happened here.

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As for the OP, there are times that I have needed to find my private keys and seed for my wallet due to hardware issue such as my phone got destroyed, stolen and even my laptop malfunction which requires a format to be fixed but luckily I was able to find them. My main issue are those website I have no longer access to due to lost of access for 2FA which kinda the same issue.

I think my bitcoin is safe and secured as I don't use private key and safely restore the private key and all necessary info . But still hackers technology based information for hacking. So have to more carefull.

Its a standard procedure to backup private keys, but sometimes we neglected it due to excitement I remember my early days in crypto on which I’m very poor to do so. Some investors lost millions for unrecovered keys, I believe my Bitcoins is safe for now but I won’t give any chance for it to be compromised that’s why I’m very careful of what I’m doing online.

Yes, we should take this seriously. Most of the bitcoin holders are not much serious about the keys or seed phrase even I lost one of my BTC wallets 2 years back due to my laptop Crashdown So I could not recover it back. Due to this incident, I learned a bitter lesson and now save my seed phrase in 2-3 places to be secure my wallet all the time.

Stay away from such kind of wallets who offers you only passwords and refused to give you the private keys,
For this reason, it is better to use a  non-custodial hardware wallet to store your bitcoin.
I've made multiple backup files to make my seeds and private keys more secure. and encrypt that backup file by using hard phrases to avoid the fear of getting hack or robbed.
And I stored that encrypted backup files at my home, office, and several other places to avoid the fear of losing them. it is better to use fireproof materials to backup your keys.

So what's the connection to Bitcoin Discussion if this is not about Bitcoin or even cryptocurrencies? What i only know is that my Bitcoin is safe and always make sure that my passphrase/private keys are in safe place and only me and my Wife has an access.
What about that ? you don't use private keys? so how did you open your wallets?

One thing you need to do to secure your bitcoin in a safe place is to have that private key you use backed up or at least have a copy in your safe vault either electronically or not. You never know what will happen in the future so make sure to handle your assets well. That attached image of OP is not really wrong because I actually use passwords for my Bitcoin wallet, and linked my account to other accounts so it should be safe.

Its really alarming when you suddenly want to access something that you can forget so I guess one way to mitigate this situations is by creating a safe haven in which you could keep your passwords and private keys for recovery. It's true that most users right now are being too comfortable with the way they are handling things but they should stay vigilant and alert since we are talking about money.

Our local bitcoin wallet is still safe and there are still no news about it being compromised and that is why I feel secured in some way.

Yeah, the security lies on our hands and how we manage our keys in front of other people, from friends, relative members, and most especially, on how we keep it. Not guaranteed to the fullest secured but at least we do something to not getting prone to any hacking sentiments.

And one thing we should do when we make access of our wallet is to use our own gadget, PC, laptop or even the phone. And don't forget to logout.

I keep my wallet private keys very safe. and choose very reliable exchange, 50% of my btc was stored at my offline wallet and the other half at KuCoin, to trade BTC and earn profits (https://trade.kucoin.com/BTC-USDT). As much as I love BTC I trade it with a unbiased opinion as the more money I make long/short the more BTC I earn in the long run.

all that can be ascertained is that if it gets hacked because of our negligence by not being able to pay attention to our key storage properly. I agree not to trust friends, relatives or anyone else, when we have to keep it well. because there will be no guarantee that it can't be hacked.

now there are probably many alternatives to securely locking that we can get to make the best use of it.
always sure we lock it right  , we can be sure that we will be safe, but don't forget what our colleague said above to not position anything you use to not leave your job by logging out.

Bitcoin safe one. But check your wallet every day. Bitcoin connects people and gets more information. Bitcoin is a good opportunity for future savings. So active your account every day. Don't share any private keys and private wallet information.It helps to produce your wallet. Bitcoin is the future coin. It any time to change. So check the price every day. Safe to use the wallet and choice the best wallet and use safely. 

for me the storage wallet of bitcoin or other coins is very cruel. has no recovery option for password recovery in case of lost password. there are many incidents of losing tens or even hundreds of thousands of dollars just because of forgotten passwords. So this might be an option for a wallet recovery step to help someone who lost their password

Im also using kuCoin to trade but I dont keep my coins there for long period because it has risk. But now im planning to do short trade for having more time to monitor the market.

Anyways im making sure that my private keys are safe before storing my btc in that specific wallet. Screenshot is not enough, its best to have a duplicate copies and note written on paper to be certain that you can recover your wallet incase something unexpected happen.

Connect? You mean through transaction? What information are you trying to imply?
Only thing I can see is that you're giving out your address to people you transact with Bitcoin.
It's obvious that you shouldn't give out your private keys. ::)

I think what is he talking about password was the private keys or private phrases that you need in order for you to open your wallet or maybe he is referring to the pin code of each wallet and he just accidentally says that it is password. Sometimes I've also using password to my comments but the right term was private keys and etc. What I just wanted to say is always make sure that your bitcoin or other coins are safe and always get a back up on your private keys and password in order for you to be more secured.

Usually people keep all those in the same place. If you generate your password and store it in the same file or on a piece of paper and it gets misplaced you'll have a hard time.

I had a similar situation with my Cardano wallet for a while. I had a secret key backup and remembered my password but a new wallet version came out that did not support secret key recovery, so I had to wait for this feature to be added by developers. Fortunately they did it literally yesterday and I recovered my wallet.

Most of people who used cryptocurrencies for a few years have stories like that to tell.

I've faced the 2FA issue before. I didn't lose my phone, I wiped the App's data and got into the mess. I was asked to verify myself via kyc yet, because of it, I lost my assets. So, let me recommend a 2FA that you can still be accessed if you lose your phone or uninstall the app. The app is "Authy", it's background icon is red. Hope you find this helpful though.

Woah. It is sad to hear that your assets are gone because of the 2FA Issue. I think one of the most common reason is that. Most of people lost their assets because of their missinh phones. This app that you are using is actually good because it has a very tight security but ofcourse you must need to know your authentication because thr tight security, the more they asked for. For me, right now I can say that my bitcoins are safe in me and in the app that I am using it because it provides some KYC and authentication that is good and very safe.

Bitcoin is safest one. Bitcoin is future currency's. So people hold the bitcoin long time and wait for the price increase. So people safely use the Bitcoin. Bitcoin is safe. So don't lose it. Bitcoin is not easy to hace. So don't shar the your personal information. Acctive your account every time. Bitcoin is king of all coin.

Unless you misplace or forgot your bitcoins private key, that would be a big problem especially when you have plenty amount of cryptocurrencies on your wallet address. And Of course, bitcoin is safe because we all see how it grows timely and it's value is so massive today.

The most important thing when we have Bitcoin is to store the private keys properly, because losing the private keys is the same as losing Bitcoin.
Because I store the private keys in a safe place and only I know where the private keys are stored. So until now I have never lost my Bitcoin.
It is very unfortunate that now there are still many people who do not store their private keys in a safe place. So many cannot access their wallet or
even to lose the bitcoins it owns.

maybe he means being hacked and we lose all the assets in our wallet because we can't access it, but so far my wallet is safe and there has never been any interference.

Well there's always alternative one on how you can forgot your password or your wallet itself since before creating or aceepting the terms and guidlines of a wallet exchange or your wallet you need to saved your phrase or private key then once you lose em you can't even recover them for sure and that's why you need to print it or save it to safety since the topic there in the first place is all about "password" no one knows if it's social media or anything and yeah bitcoin is the future for the people and can even surpas gold in the near future as the bitcoin reach it's 1 trillion market cap.

I am more sure that storing it on paper in a safe, I think storing on Android and Leptop is not safe, can be hacked, do you agree with my opinion?

But you should have to keep that paper in a safe place, probably in the bank, or make a vault for this only and so it will not be worn out. Just kidding...

I'm storing my private keys on my personal laptop, I don't let other people use this, and it was fine for me. And can say myself I was safe, but the truth is that, it guaranteed nothing. Though we think it can't be hacked as we are using an offline wallet but what if there is something bad that happens to your offline wallet (accidentally lose), I'd never think it will bring back to you.

I think its often a convenient update for each bitcoin and crypto cash token holder, to begin with law is to maintain a strategic distance from centralized wallet capacity framework, while the moment law is to ensure merely utilize a decentralized wallet conjointly be mindful in defending and keeping your private keys, seed expressions secure. First of all to begin with work is to secure your wallets because that way you secure and watch your speculation and portfolios.Focus your possess investigate approximately the leading cold capacity wallets,Exchange or other wallets.

So far I do not have any issues on securing my cryptocurrencies, and I hope I won’t have any problem in the future. The only problem that I had related to crypto before was regarding 2FA and phone number verification for my email.

If you are still not sure on how to securely store your private keys, you may need to check on this thread.
Where do you store your seed?
https://bitcointalk.org/index.php?topic=5278821.0

You will find more insight from members here. Some members has a unique way to store their PK.

Wallet passphrase is your last line of defense. First of all, nobody should have access to your wallet files. If you allow that to happen it's already bad, therefore my passwords aren't very difficult. They're things that I always remember and that would probably be possible to crack for automated software within a day. I have a different way of protecting my coins and that is holding everything on a clean machine with no Internet access. The moment this computer gets powered on will be the moment I decide to spend coins from my cold wallet.

The thing that needs to be considered when increasing security is by implementing 2fa, but even so, being vigilant should be prioritized as possible from phishing links. If something is missing, maybe you can add a question that I raised.

Mostly Individuals truly repeat those keys may well be secret word or something and its all the same since these are the get to into your wallet. careless and laziness will doubtlessly be misplaced once those coins would be misplaced nor bolted due to lost password.Reason is its continuously critical that you simply ought to really be cautious into those keys and keep it secure as conceivable out from other people groups mindfulness and never ever misplaced it. Consider this to be a key and once you misplaced at that point you cant get to those coins.

Adding this extra security feature is higly recommendable, with so many scammers and hackers,
you can't just deal evry now and then, it's very wise to secure your funds with the help this relatively
tools which been offered, taking time to review and analyze the functions and what helps it brings
in securing your money is really important.

I know people who have more than one or two wallets. Use separate wallet for often usage but still regular backups are essential to ensure safety. Paper wallets can be stored offline, thus diminishing chances of stolen crypto.

2FA also helps. But on a different note, this is why some people hesitate to try cryptos. The complexity and layers of securing cryptos are indeed a pain but like what they say, with great power comes great responsibility  8)

OP is absolutely spot on. I know a number of cases where people lost access to their Bitcoins, because they lost the password and recovery phrase. In most of the cases, carelessness was to blame. But I know one incident when the backup, which was stored in hard-copy format was destroyed in a fire. Obviously you can blame the user for not keeping multiple backups at different locations, but no one really expected that the backup copy will go up in fire. Among my friends, I have heard only one incident of someone losing his coins to hacking, but I have heard multiple incidents of people losing their coins because they can't access their wallets.

true, there are many variations of events because people lose access to their bitcoins, of course the most often is forgetting to store and usually do not have adequate backups because they believe that what has been done must be easy to find.

Of course the recovery password and phrase seem to be the same as the character who forgot to save access. all because they are overly confident because sometimes when they need it they are just confused because what they think they remember did not happen, they actually forgot.

If the matter of hacking, there is indeed a friend of mine who has also experienced hacking but it can be ascertained because of the negligence that was made so that it could be hacked, because often open unknown links or resemble something related to blockchain, if I myself was hacked by close friends because I trusted to help me, but that is sometimes belief cannot guarantee so that it must be maintained by whatever causes it to happen.

Hardware wallets and decentralized exchanges have key phrases, and secret words. And if we forget these key phrase then we can't able to access our wallets.
But if we stores our bitcoins to exchange wallet the it requires a password and 2fa code to access the wallet. Sometimes the exchange hacks and we lost our Bitcoins. So, storing Bitcoins in a hardware wallet is a good technique.

Bitcoin is the most secure one. Bitcoin is the future currency. So individuals hold the bitcoin long time and sit tight at the cost increment. So individuals securely use Bitcoin. Bitcoin is protected. So don't lose it. Bitcoin isn't difficult to have. So don't share your own data. Dynamic your record without fail. Bitcoin is the king of all coins.

We can not generally recall the private key or seeds, so we frequently compose it on a paper. Unfortunately, my wife threw that paper but that GOD I remembered the password. Yet, I was late, somebody previously took my all bitcoins and move them to an obscure wallet id. At any rate, it was my issue to not keeping the bit of paper on its precise spot. It was a great lesson for me. Your bitcoins are protected as long as you keep your private key in a safe spot. It's difficult to keep your bitcoin's wallet private key yet not feasible.

Wallet and keys management, by far,  is the most difficult topic for a bitcoin retail investor. I have to admit that the exchanges of today are not that shit of the past, still those who want to get full advantage of the not your keys, not your coins rule will need to dig deep into the rabbit's hole.
Keys mismanagement could lead to severe losses, make sure you are able to access them in a secure manner and make them redundant to avoid potential single points of failure.
You'll never be too grateful to the time spent learning about how to securely store your keys.

i'm are also concerned about what you experience that what you have stored properly can be known or used by other people to get the results of what you have done which may be quite a long time, but this is a very valuable experience that you can be more careful.

security is actually very realistic but usually sometimes people forget and underestimate what is considered memorable but eventually forget. The private key has been stored in a safe place, but when you want to use it you forget it because you don't know where it is stored and this often happens and it is even worse to want to fix it because they lost the password and recovery phrase. then all that is stored properly is gone because of his own carelessness.

Look at the bright side when people don't handle their wealth properly: less Bitcoins in circulation >> less supply >> higher value. Just joking lol
I wouldn't wish anyone to lose their private keys (unless they are bad guys of course) - I'm sure it is a very frustrating event especially if you happen to hold a significant part of your net worth in crypto.

As an ending note, make sure you follow the best practices when it comes to securing your keys. Don't keep them on a computer with internet access as someone with evil intentions could hack it or you can get viruses. Not even talking about electricity shocks that sometimes (in extremely rare cases) can permanently damage the hardware.

Yep, back up the password seems the focus of OP to remind all people. It won't be fun anymore if you lost your password and finally cannot access the wallets. Sure, the careless way to keep the password is likely as the most reason for losing the password. That's why we need a proper way to keep it and not only keep it in a single place only. Keep the password in some places that we easily to remind it and they should be secure enough.

The Bitcoin in your hand is definitely safe. Bitcoin is stolen unless the computers all over the world agree to it, and hackers generally only attack the trading platform.

there is no safe word here because so many cunning people like thieves and swindlers are stalking us with various attempts.
remain always alert to whatever happens because a little you are weak and careless in securing your account could be your account will be lost and I have felt this.
keep using double security to the wallet you have and stay always vigilant with whatever it may be it is an attempt to steal your wallet

It can't hurt if you write your important passwords on a piece of paper and indicate what is the usage of those information and tuck it somewhere inconspicuous like a book or a leather wallet that you rarely use. Your bitcoin is safe as long as you don't click any suspicious link that might contain a malware.

Better to keep safe your bitcoin password that you alone can know, write it up in a paper or store it in your notepad and make a password to it so that no one can open it except you. I read an article that satoshi once give a lot of bitcoin to a person who wrote an article about bitcoin and when bitcoin suddenly moon this persons private keys lost it and the bitcoin that satoshi gave to him worth a billion dollars now.

Of course my Bitcoin safe and secured in my personal wallet actually I reserve my Bitcoin I my personal binance account where it already be protected by several securities systems (google authentication, sms verification and phone number verification).

I think the safest place for bitcoins is when you sell them at a high price relative to the current market situation. I do not really understand those who hold for a long time in the hope of some incredible growth. Bitcoin has long established itself as a coin that has its own character and is pretty nasty. If you want to be calm, then speculate without risk and after reaching the level of 100% profit, sell it both on the fall and on the rise. I have been doing this for several years and have never regretted it!

hello sir, maybe he meant the phone lock, I think with the allet key at this time it is quite helpful to store our assets, at least we also have to be careful with thieves around us, it's better if we double lock or we put a small part of our assets not all of them

Bitcoin has a very big influence, and it will have a positive meaning.

Just write down your seed on piece of paper and store it somewhere. This is first vital step to recover your bitcoin wallet in case you lose your password. Secondly wallets are prone to cyber attacks and people have lost lots of bitcoin due to that. I have moved my crypto to binance to avoid any cyber attacks.

Bitcoin passphrases and private keys are 100% safe as no one is able to brute force them. However if people are careless and forget their private keys and lost access to their wallets, then its their own fault and blockchain technology has nothing to do with it. Keep your private keys safe and no one will be able to steal your coins.

what you say is true, save the private key in books, flashdisk,  and special email google drives, at first I saved ordinary phrases with screenshots, without taking notes offline I lost files on my cellphone because suddenly my cellphone died completely and reset all my data lost, so as a lesson for me that incident and letting my assets disappear without being used to become treasure until my wallet can be opened without the phrase

Security is the most important thing to me in my bitcoin journey. Without going into too much detail (OPSEC etc) I can assure you that my stash is absolutely safe, offline & impossible to access my coins unless you tortured me for my seed.

You mentioned the above case, I also once lost some investment properties just because of incorrect key storage, now I am very careful to delete all wallet code data. Don't save it anywhere on your computer or phone because any time intruder software files will take away your information what we need is to record it manually or and your USB and set them aside.

Yes! In any wallet there is pattern lock, seed phrase, private key is available which make your account secure if you shared these private keys you can lost your account I made my account secured by these keys and I not have amy fear to account scam or scam stole.

storing passwords only on a piece of paper is very vulnerable to loss too my friend, I think you need to save it somewhere else like google drive especially maybe so that if your paper is lost or damaged you can still access your wallet


I agree with you, avoiding hacking is better to store on a trusted exchange than a private wallet

In my opinion, this is very bad advice.
I would never put my confidential information into an online service over which I have no overall control. Are you confident that you can put your entire trust in Google Drive (or any other cloud storage service, for that matter)? If your data is lost, hacked, leaked by rouge employees, or a bunch of other things go wrong, how will you recover?

A private key is a key that you must keep secret from anyone including your friend or family if you don't want your asset to be lost. You should have a backup or back up your private key offline safely regardless of whether you only have $1000 or $100,000 in crypto asset. There are many steps to secure your asset and wallet that forum contributor have shared and you might want to check them out.

1. Crypto Security - Additional Protection For Your Seed/Private Keys. (https://bitcointalk.org/index.php?topic=5230920.0) - Author - Lucius
2. [Guide] Secure air-gapped crypto wallet storage method (https://bitcointalk.org/index.php?topic=2828437.0) - Author - Sowik
3. [Guide] Protect your Crypto: Security tips for your home computer & network (https://bitcointalk.org/index.php?topic=5184366.0) - Author - aundroid