Bitcoin Forum

1.) Be careful with people who introduce you to crypto currency because some of them might steal your keys and you will not know that is why we have plenty of cases were people funds go missing without a trace , and also be careful who you give your phone for those keeping there keys online saved in there email e.t.c that is why it has been advised to stop saving your keys and passwords online but people still fall victim be alert.

2.) when you  have a problem with an exchange don’t reply to people that chat you outside the exchange and start requesting you to fill forms , I learned and research a lots when it comes to security, seek coaching and do more research before perform transactions.
         BE ALERT

If you want to make sure that your Bitcoins don't get lost, you need to create a full backup of your wallet with your Bitcoin private keys. In addition, you'll need to create a hard copy of them somewhere that you are sure not to lose. But, the most important thing is to avoid your private keys getting into the wrong hands in the first place.

That's why you should keep your private keys safe from thieves, hackers, and/or accidental loss. These kinds of mishaps are one of the biggest threats to newbies and less experienced Bitcoin users. Don't ever take security lightly.

The first question to every beginner with regards to safety is in the words "Private Key". Simply asking what does this phrase actually means, a beginner is expected to grasps what it all entails without being told or even with the least given detail. The only confusion tha a few is expected to phase in this is the how to secure there private keys or seed phrases and that is entirely upto the beginner as to the best means of safety and reproducing it when it's needed.

Now it's important that you know that,
1. Your private key/seed phrase is like a master key
2. It could reproduce its wallet anywhere and on any device where ever its used around the world
3. It gives the user complete authority over the wallet
4. It is supposed to stay unique to a single individual

Hence, the importance of private key and why its expected to be the most protected or secured code in the cryptospace cannot be over emphasised.
It's expected of a beginner to learn the pros and cons of the cryptospace and should he or she come by any wallet compromised in the early stage of there crypto journey, they just create a new one, move all funds over and they are safe again. There is security in privacy hence, its of importance that you stay private.

Great, I like those newbies on crypto who are willing to learn first about security and privacy which is very important in the crypto world.

If you want to dig more research and gain further information I want you to read this thread (https://bitcointalk.org/index.php?topic=5364418.msg58120931#msg58120931), there's a lot of information that newbies must know before they jump in investing crypto.  It's an advantage for crypto holders if you've knowledgable enough technically and fundamentally when it comes to Bitcoin.

As I'd say, stay vigilant at all times, keep your valuable things safe and be responsible for them.

You just don't hand over your phone to your friend or any stranger if it contains all of your sensitive information like private keys. And why save your private keys on your phone or emails?

There could still be people saving all of their private keys and seeds on emails and they should stop doing that or they'll learn the lesson the hardest way.

Keep a low profile and don't intend to be the boastful type to your circle of friends or strangers because you'll never know whom you can trust.

Private Keys are privacy only you know the rest don't tell your surroundings including relatives and friends, this is clear that no one should know it but if beginners are aware of this then they will definitely improve security in any way so that the Private Key is more secure.

Exchange problems really have to be resolved there via live chat or email if this leads to the outside of the problem and scammers usually switch to telegram then it's a scam, the important thing is we have to raise awareness when experiencing problems contact with official email or any support.

Some know how to keep their private keys safe to themselves, no stranger allowed but their wallet still get compromised, avoid airdrops that want you to connect your wallet to their platform and claim tokens.

This is should be aware of most since if you are a guy keeping details on the phone, you should be careful when you lend your friends your phone. Its not that you dont trust them but if your keeping a lot of crypto dont leave or make him/her hold it while your away,  a split seconf is enough to capture your keys or any info he can used to steal your funds.  Too baf if that friend can do that to you.  Its not you dont trust them but who knows what motive they have regardless of friendship?

Money can change people especially if thats a lot to take in.

Smart phones are mobile devices and you will bring them to more locations than with your PC or laptops. You will use your phones to connect to more public Internet connections and do more vulnerable activities in security aspect.

On smart phones, usually people are less care about security and less Internet Security or Antivirus softwares are used by people for their phones.

Together, they make phones are more vulnerable for your cryptocurrency (wallets, assets, ie.)

If you store your cryptocurrency on phone, only store a small part you have. That small part is for convenient usages in life. For big part, store it on your PC, at home is the best. Don't store it in your PC at your company.

Actually thats right. I am also storing some on my phones as I need it more when I traveled and do some of my stuff like doing signature which I am conveniently doing on mobile rather than pc.  When I say convenient is like I could lie down on my bed while reading post and not slouching on a table and chair whole day.  But in terms of security,  no doubt its better to store on PC.  But like you said,  most people use their phones more than PC so a little caution is needed.

Be aware of any PM, scammers always come first, they are always the one to send you hi, I dont know what countries you guys are from but in this world now if people or strangers message you first they are up to no good, have it at the back of your mind that nothing comes for free.

You're right, no one should be trusted no matter how close you might be especially in terms of money. Even the person who introduce you to crypto and help set up your wallet and all should not be trusted they could go behind you and steal your funds.

Save your private key offline, away from internet connections. Its safer to write your private key on a piece of paper, make duplicates of it, and store them in different places in case of emergencies like floods, earthquakes, fire or other calamities.

If newbies will just follow things that can be read in popular wr
website for wallet creation only if they  cannot find this forum for help first then i guess its fine.

Anyone who appear to be very helpful in the internet should avoided at any cost when it comes to wallet creation. Every wallet has its website that has proper instructions for privacy and security, even has instructions too to avoid such incidents.

Keeping private safe is when you write it out without saving it online. a seed phrase is the highest security a cryptocurrency minded person supposed to secure knowing that keeping it open it will affect your coins in the wallet. That's while i do advice people to documents a wallet seed phrase without showcasing it people. Because it's very obvious that any slight exposure of seed phrase that comes to the end of that particular wallet.

That's true and we can't be tired of stressing it. Wallet security lies predominantly with the owner. Hacks don't easily happen without a loophole somehow from the wallet owner, especially if it's an open source wallet. I can relate with your comment there and that was why I said it was true. I had an experience on that with a dude I was teaching wallet security among other things. I told the dude never to give out his passphrase to anyone no matter what because it's like his bank account pin/password, and I mentioned to him "not even to me". A few days after that while teaching was still going on, I told him to release his passphrase to me that I needed to check up something on his wallet. The dude did! I laughed him to scorn. He learnt his lesson after that. He said he was embarrassed by his compliance.

It is difficult not to trust such a teacher. :)

But it can also be concluded that as long as you receive knowledge, advice, and lessons, it all comes from the giver, and this does not pose any danger. A person can promise you profit and show examples. All of this indicates that he is giving you something to one degree or another.

The red flag is turned on at the time when the moment comes when something is demanded or asked of you. This also includes passwords, seed phrases, transactions, and more. In other words, pay close attention to what you are about to pass on to the other person.

You can learn a lot from a thief and that still won't mean you can't get robbed, its like a teacher who is good in his or her job and still molest little kids in the school, good and evil dwells inside humans, do not feel too comfortable by their side.

You shared two opinions about the Privacy of Crypto assets. We really need to save our private keys far away from online because when it will be shared to someone or be havked you guys lose whole assets. So make sure your private keys are secured.

Yeah, I know it's difficult; especially when it's a teacher you feel can't do any wrong. It was for that sole reason of never trusting his seedphrase to anyone that I tempted him with myself (whom he felt wouldn't do any wrong)😂. I can be a prankster when I choose to be lively. He gave excuses why he obeyed but I countered and punctured all his excuses with ease. It really would sadden me to find out that any of my students fell victim to such a scam.

I would like to think that these kinds of warnings should be general knowledge and redundant, alas, they are not and should be repeated frequently. These are not just advice for crypto but for general life. What amplifies this issue is that a lot of people are still internet illiterate so to speak, and that should be the first step in educating people on how to handle themselves online i whatever situation.

This is common things happening to newbies so they need to be aware on people's agenda especially if they don't know them personally, much better if they only go on proper person in charge if they encounter an issue so that they will be scam by random people hiding an agenda towards helping you. I guess newbies should know that anyone sent you a pm randomly is suspicious person so better ignore them to avoid such any unfortunate incident that might happen to them.

Never mind, wallets are now generating seed phrase, should we still be using private key backup? Whenever I read private key backup, I still always think seed phrase is better. But OP is not wrong at all, there can be some hackers that might demand for private key from people, be it seed phrase, seed, master private key or private key to a single address, people must protect it because it can be used to steal coins, only what should be given to someone or people should only be the bitcoin address.

If you protect your private key, is for the security and safety of your coins, not for privacy. To have privacy, you will have to run your own full node wallet with Tor. But you are right, for your coin not to be stolen, the private key or the seed phrase has to be protected.

It is good to understand or see newbie who is interested in securing and privacy. Most newbies come with earning at the forefront. Keep learning and you would be surprised on how much you have learnt before the year ends.


If someone introduces you to bitcoin and maybe help you to sign up on custodial and non consortia wallets or even exchanges, it's cool you keep calm and avoid putting in much money. After you understood everything,  you can abandon the wallet and download a new one with new keys or phrases.

Many people are hesitant to put their full trust in those who introduce them to cryptocurrency. They are extremely careless and allow those who introduce them to cryptocurrency to know full details about their wallet, including private keys and where they keep the keys; this act has exposed many beginners, resulting in the loss of their entire investment. Always be cautious and never give anyone your private keys.

In spite of the fact that this is a piece of basic knowledge and redundant for people with experience in the market like yourself, I would argue that it would be necessary for newbie entrants into this market. OP has pointed out common mistakes in newbies, so I think it's still worth repeating for newbies to see and learn from, it will help a lot for newbies.

In the online world, including in the crypto world, there are so many scammers, thieves, and also hackers. That is why we always say about being careful in whatever we are doing in crypto. However, if it is about personal data and information. We must use and save it very secret in order to secure our assets. In this case, there are so many cases in which people are scammed and also hacked because they can get private keys or other important data to access the assets. Many people are also trapped being scammed because they trust too much on someone new because of the high promise of investment. This is a very common happening. That is why, once more, be careful and wise in every activity in crypto, moreover related to securing the secret data, never trust anyone.