Bitcoin Forum

okay my country people, I greet una I just carry one issue wey I think say go make sense well well for our Nija board and most especially for our newbies them wey just start to use Bitcoin and cryptocurrencies. we know say one thing we everybody need to learn d most for this cryptocurrency world, na to know the best way to keep our funds safe.  Many of us no Sabi thing wey we no supposed do to avoid lose of funds. cryptocurrency na one interesting world on it own, but bad things still dey sub everytime. some how we go think say e no dey possible for Dem to hack us thief all our funds, until e happen.nothing dey impossible for this world. I don see many people for this forum dey cry about how dem take thief Dem one way or the other con wipe all their funds. I wan use this means take show us  some wrong things wey some people dey do wey go fit put thier funds for wahala.

1. connecting our wallet to unknown websites all in the name of free coins or airdrop. some dey call am faucets. just last week for here, I remember one topic wey I don write concerning this airdrop matter. I say make I still add am for this thread because this wan na common habit for some person. when ever we hear airdrop, we way rush go link wallet. some of these airdrop or faucet fit be scam. e dey hard to see better wan wey go pay you and even when Dem pay, the money no go reach you buy bread. so I no see any reason why we go waste our time and at same time put our funds for risk. to join airdrop no be bad thing oo, the only problem wey you go con get na when you connect wallet wey you take dey keep your funds put for these websites. just last week person come dey cry for forum say e go kill him self say Dem thief e funds. d guy go connect e wallet put for airdrop, unknowingly say na scam. Dem wipe e wallet. make we dey careful, even if we wan still collect these airdrop.

2. using third party software : normally, we know say many of us don dey use to mobile wallet. this one na because the hardware wallet, wey dey safer come day too expensive to buy. these mobile wallet dey easier to get with just few data you don install am. as we dey install am make we no forget say our device fit dey exposed to many threat for the internet. this one na why e dey important not to dey download anyhow app put for phone wey we don install and fund wallet put. some people go say they wan customize their key board, some go say them one add wallpaper join their phone, even ringtone app sef. These apps sometimes fit dey designed by scammers to get access to your phone. and normally, these apps dey always need permission to take run. so if you give them this permission, anytime you go online their creators go easily connect to your device without you knowing Dem go search for personal documents wey fit connect to any of your fund. let's all be careful.

3.storing you seed phrase the wrong way. we all know say our keys na one most important matter wey as a Bitcoiner or cryptocurrency person we no suppose use am take play at all. some people go just dey lazy to the extent of storing their keeps put for Gmail or online cloud apps. I still no know watin dem dey think Sha say Dem no fit hack Gmail or something. these days, many people Dem Sabi store personal documents well well for Gmail say na e dey easy pass.This wan na d worst practice wey most people dey involve Dem self. like this, your funds no even be your own at all. make you no dey forget say you no supposed leave your keys for any online platform no matter what. not your keys not your coins. These storages na third party dey run am and dem go fit get access to your files. Again, some people go dey snap their key dey store am put for phone as image. snapping images of our keys con keep an for our phone dey expose Dem to anyone wey get access to our device. normal Dem go see am as picture, but if bad person see an and e no watin e be, Dem go thief am take wipe your funds. even sef, if your phone loss or wipe then forget your funds. you go like to check this thread by (name) on how to store your keys properly.

4. no trust anyone we you meet online: okay, as many people know say this thing called internet dey sweet, still e still get many bad persons Dem. their sole purpose for there na to fish for victims wey Dem go fit scam. as person wey dey new to cryptocurrency, e dey easy for person to lure you into yeye investment. Dem go shine the lie well well for you to make you believe say na better one because you sef no get idea at all. this one na why Dem dey always dey advice people for forum, to dey careful with who ever you wan do business with. and most importantly do your own research well. there's no quick way to make profit, so if person dey cap give you say you fit make millions over night guy na lie. keep off from such.

this one na the few wey I fit talk put for now Sha, but make we dey careful as newbie. Nigeria don too hard to dey fall victims of scam. any money wey you get now, you know how manage you take sweat get am so make we all dey wise. On love my country people  ;D





 

This matter wey you yarn so carry better weight, na nothing but the truth you yarn so. Make person just dey very careful becos free thing na ihm kill pass. Make we no dey rush do airdrop wey dey require for our keys or permission to use our wallet to effect a transaction. My sis is a victim of this scam. She saw an nft airdrop on her wallet and the instructions says " login to this website and connect your wallet to claim the NFT ". Do you know that, after opening the website and connecting the website, a fee of insignificant amount was first deducted and later na so we hear bum , dey clear all usdt for the wallet. I gat encourage her as she dey frustrated after she plan how to use the money.

If you new, and you never fall victim , abeg learn from other piple experience ooo.

Once upon a time , when person dey look for means of survival,  I see one airdrop with unimaginable promise wey make my belle sweet, when e reash Dem to withdraw the stuff, na den Dem start to tell person say make e make deposit for withdraw to be effected. Na so I wire them small money ooo say then go send reward, bum, my money enter water and Las las, Dem blog me for their telegram.

Thank you OP for this insightful post. E get somethings wey I go like add about hardware wallet wey you talk about. Though, hardware wallet na the safest wallet so far but that one no mean say you no fit lose your funds. The major threat to hardware wallet na clipboard malware. How this malware dey operate be say e dey replace de copied address with the hacker own address, so when you copy the receiver address, always crosscheck if the address wey you paste for the wallet match with copied address. Also, when you want purchase any hardware wallet, make sure to buy only from the manufacturer or from a verified reseller.

Some third party keyboard apps dey infected with keyloggers especially those fancy keyboards, so make we no install them on phones wia our wallets dey, make wey dey use the android stock keyboard only. When we install this third party keyboard, come grant them permission to access our device. As we dey type naso them go steal our important information like seed phrase, private keys, credit card details etc.

So in regards to this reason, I go like to talk say if you no say you are that type that loves hunting airdrops, and can't do without it, it's advisable & better to keep your Bitcoin on a separate wallet (i.e Electrum) while you use other general wallet such as (Trust wallet & Metamask) for linking up your faucets. But on the contrary, if na me, I for advise make una avoid anything faucets/bounty, as those things are always a total waste of time and effect.
In regards to this, I will like to say that where you store your Seed Phrase doesn't matter but how you store your seed phrase is what matters most, because it's very possible that a seed phrase can be placed in front of someone but yet of not been told they can never know, simply because the word "Seed Phrase" is not written on it, hence, the more better we stop writing the word "Seed Phrase" while storing it, the better for us

Op, your point valid but even sha go better if you make the main part of these your points bold, like I tel do this one way I quote.

All these things na true way you talk and aside all these, people dey mostly nor dey reason say as bitcoin dey give person total control of their money if them dey use non-custodial wallet, say na their responsibility to make am secure and if they nor fit do am way them use Custodian wallet but if anything happen to their money way them nor cor dey blame anybody because as you dey use bitcoin you suppose to dey learn how to protect am nor use am play because you nor go fit tell me say person way get bank account nor dey   hide he Bvn or say if you get money for house you go cor open your door down or let everybody know where your money dey.

I understand watin u de try talk op but d matter be say person way understand Bitcoin security well well no go make all these mistakes.
1.for example pesin way understand crypto security go no say e no supposed use him hodlings wallet for airdrop or other shit coins
2.The Gmail part na something way many newbies for crypto space de do but some for here fit de lie say Dem no de do am.any how securing keys na personal something as long as e no de online and e de safe
3.lastly to set up air gapped wallet de easier and safer than to store for exchange. To set up air gapped wallet self de cheaper than to buy hardware wallet.

Make I throw small wisdom here because airdrop and free tokens na one thing wey no fit leave Nigerian body because normally we like free things and we dun see or hear story of people cashing out from this airdrop on a thing wey be say no be lie because as far back as 2017 wey dem Bitcoincash and gold dem come out, I receive airdrop and e been worth like better dollars dat time and we still do small airdrop task dem wey give us something especially when Binance exchange been come out come dey promote some small task to get their tokens and e later worth something. Wetin I dey try talk be say, dat time airdrop been dey pay well but this days many no worth am and no be all wey dey ask you to connect wallet to wey you supposed participate in. If you come see better one and you wan connect wallet, no use your wallet wey be your personal wallet, just create another wallets specifically for claiming airdrop and make I say you get the tokens, you fit come transfer am go your personal wallet. Even when you wan trade for all this decentralized exchange dem, get a specifically wallet for that purpose as well. You no dey buy online wallet so no fear to create multiple for various activities and get a personal wallet for your Hodling.


I no go blame anybody because we all grew up depending on people for our security and banks for your money so we too dey used to centralization already and others protecting us and na wetin make us easily dey trust those emails and other online ways wey we dey store our private keys and other sensitive information but make we try change because although we never too hear stories of them been comprised and Nigerians been affected but time go come and e go reach this side so make we dey avoid them and use method wey dey safe and easy for this side. Alot of recommended ways dey to store our private keys but the one wey dey too easy for us na writing them down on a piece of paper and that paper been protected like locking in a safe after laminating the paper or using an encrypted USD device that also has another secured backups like the paper go make sense.

Na true u talk, just that people dey dey very careless for wetin dey know say if anything happen to am, e go worry dem but dey no go dey careful with am, dey go just dey do am anyhow, if na crypto something, security dey on how to set up ur privacy and all that and like u say if person no tell the other person about their password, nobody go know just like ATM card dey like this, if we no tell person our code, dem no fit carry am with money, na so things dey be, even our phone, if we put am for password and we no tell anybody our code, no body fit open am except we, so na carelessness dey cause why some of dey lose money and too much trust too. So anything wey we know say e go affect us if we no handle am we care, mk we try dey handle am with care and make we dey also dey observant wen we notice something unusual.

If you new, and you never fall victim , abeg learn from other piple experience ooo.

Na so
As e bi, person wey wan experience am first make em continue to break those guards .... If not the help wey person need sometimes na to learn from other people experience..

Omor everything wey you talk here legit well well, the one wey I grab pass nah the one wey you talk say "storing your seed phrase the wrong way" that one hit the nail for the right place. As a bitcoin investor you suppose to know say e no dey safe to keep your seed phrase for place wen be say no dey safe at all because anything can happen at any time, if scammers no see am then something for happen wey be say you no go see am again. As a person wey keep coins for wallet, you suppose to know say that seed phrase nah another life wey you get if coin dey inside that wallet. No be everything wen somebody supposed to talk sha.
The other one be say make we no dey trust at all, scammers them always dey want make person trust them because nah the only easiest wey wen them go take scam person, trust nah very dangerous thing wey somebody go supposed to avoid especially for insider Internet. Connecting wallet for anything you see nah very dangerous thing because e just dey like say you dey go dey play with fire.

Na better matter you yarn so, and one thing wey I dey like tell newbies wey wan invest in some BTC or any cryptocurrency wey go require wallet, na to always first learn the safe methods wey go dey useful to keep the coins safe.

As you don take enough time mention watin we suppose know OP, one other thing be say we need to always remember say crypto currency na the future of currency for many countries and if person begin lose their money now because them no fit handle the responsibility of using wallet, watin go come happen if our country decide to adopt crypto currency as a money for doing business and making payments?

 

And in addition to that, one of the mistake I have been able to noticed about Bitcoin investment is the fact about some, leaving or hodling large sum of money on an exchange wallet for a long term, which on a normal case, ought not to be like that due to how we tend to lack full control over our funds on a centralized exchanges. And also for security reasons, that is if eventually the exchange happens to go bankrupt just as in the case of FTX, you won't be affected by those who will lose there funds due to bankruptcy of that exchange.


One common thing wey dey make people fall into online scams na greed, because for every scam that occurs online, there must have been a green-light for the individual to abort, but due to greed, he/she proceeded, which ended in lost of funds.

In the aspect of the number one point you make na true talk. But the wahala na be say how we go use know the real and the fake ones. Na just for say make pesin dey careful sha

People get to always make mistakes before them go learn any new thing wey dey important, otherwise, any investment wey person do, suppose to get limit and na sense to know exactly how long to wait for maturity of the investment be the Koko wey dey necessary to get good returns instead of loss.
Crypto currency na one currency wey go allievate suffering and help people in the future and the future no too far like that, because all this current wahala for the country dey just make everyday dealings get as e be and na those wey know say time never ripe, they always dey patient to and na them dey chop better profit anytime.

Thank you for all that elaborated Op, I believe this piece of article will save lot of  beginners who'd adhere to this information.
While I haven't participated in any of the airdrop projects before, I'm wondering why investors would even associate their wallet containing crypto assets bought with their hard eaned money with a social public service as airdrops just to earn free funds. That's a big risk of loosing everything and it doesn't seem unhealthy to such investors asset.

However, with all that being outlined, having your Crypto assets stored in the centralized exchange while considering greedily to omit transaction fees is also an exposure where Investors assets can be trapped by scammers.

Make good research into a project before investing in them. At least in some cases you will end up finding out if a project is fake or scam. The reason why many people fall for scam is because they fail to pay attention to details. If you want to buy something you have to check the information like expiry date and date of manufacture before buying so same thing implies in investment. Before investing it is a criterion that one should know about the asset before investing in it.

You don try well well for this your thread on. The way some people dey go about this airdrop of a thing no easy at all mostly those people wey never too get idea on how e dey work. I don see where person go link en main wallet wey him dey use save better thing inside carry go put for airdrop though e no bad oo and at same time e no dey safe. Morever, this one wey you come talk say some airdrop no even reach to buy bread that one I no believe that one because so many airdrop wey my guys dem don do wey pay no be small thing oo, some collect block no be chais,  the thing be say make person just dey careful for the kind airdrop wey dey go enter make you no go waste your time and energy and at same time risk your Wallet.