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Seeting a complex password is important after which you should write it down and ensure you've kept it in a secured position so you don't end up forgetting it. Routinely, you could set out a range of time you would normally change your password most expecially if you have the slight thought that there is a possiblity that someone has access to it but while you've done that its necessary to discard the old password that has been written down and the new one written down. Op thanks for this info God bless you, also I will like to bring to others notice that as you're trying to create a secure password don't forget it should be something you can remember because if you lost access to it then all your security measures is wasted.
Certainly any password to be taken as choice should be memorised and if possible writing down for backup storage, anything that has to do with storing passwords on the internet, count me out because those are very harmful practices and single mistake could bring your world crawing down before your eyes. And our passwords shouldn't be made so easy that anyone close to us could get a good hint and use it against our advantage. |
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Any asset that has limited supply while the demand Keeps booming it's obvious it's a good asset for investment because it will eventually gain value over time, and speaking of which Bitcoin is a great fit for that description. The most amazing part is that it's a decentralised currency and can be accessed by anyone anywhere and anytime. Over the years, Bitcoin has proven to the world of its genuine nature and that's enough reason to believe in Bitcoin and use it for saving your funds, besides it would gain value over the years and add extra profit to you just saving you money. Just like gold which is a good asset for saving your money Bitcoin is much more liquid in nature and easy to use and access. You can actually make purchase based on your financial status, and there are strategies that can allow you to hold without causing any financial distortion.
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Just as bitcoin network and other cryptocurrencies wallets make use of 12 words as its minimum secured numbers of words as seed phrase, and it doesn't end there. Those words were randomly selected meaning they have no linkage between themselves. However we should also learn from this because it's the safest way we can make our data secured without the fear of hacks. In other words the use of 8 character password is safe however it's still a bit easy to hacked compared to a more complex 12+ character password mixed with both uppercase, lowercase, numbers and special characters. Technology is advancing and technologists are looking forward to build quantum mechanics with very high computing powers and the only way to escape this is by increasing the length and strength of your passwords generally, especially in exchange applications or any other applications that has to do with money and sensitive informations. So when encrypting a file, an app or any valuable digital thing, it's best to use a 12+ mixture of character password. According to hive's research this is the time it take to brute force a password.  Source: https://www.euronews.com/next/2024/05/11/how-long-does-it-take-a-hacker-to-crack-a-password-in-2024Check the security level of your passwords and make amendment if needed. |
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Because of the way the country be, people fall for this wayo them say them want to double your money make dem invest and unknown to them na scammers. Always be guided. Op you tried let the newbies follow up dis your advice and make dem bo fall for any fraudulent activities in their dealing with bitcoin investment. And I will also add one to what you have said. And which is, don't connect your wallet which you have your large number of savings to any website. And don't involve yourself in any Ponzi Scheme. Do your investment and leave the rest.
Your point are valid and on track. We as advanced individuals knowing fully well how useful and dangerous the internet can be at the same should alway take the necessary precautions to ensure we don't give out vital information to the public. Most person thinks showing off is fun, yeah it might be fun but don't overdo it, because when you overdo it you are only putting yourself in danger, you'll become one of the primary targets of scammer/hackers. I've heard of situation whereby most persons get hacked from connecting their device to public or free Wi-fi, I don't know how true this is but I believe it's possible, and because of that we mustn't carry the device our main wallet is around. |
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This is what is making some people in the community not to get it right in their life because, they don't want to get prepare by saving some money in their bank account waiting for the price of BTC to dump before they can buy and hodl for long period of time before they can sell to improve their wealth like the way some people in this local board has achieved their goal through preparedness. We can see that the price of BTC is heading to were some BTC investors will regret for not buy BTC when the price was low, but they know how to predict the price of BTC, when the price will reach before they will buy and when the price get to that particular prediction no money to invest because they didn't prepare for it.
Hope you guys prepare for what is coming soon in the crypto market? If you are not prepared you still have time to visit the crypto market to buy potential coins that will make you prepare for the bull run that is about to occur before investors will start selling their coins to smile like the way long term and short hodlers smile in the year 2021. I'm prepared to hodl my coins to see the price I have never see before in crypto market before I will sell to save some money to prepare for another bear run to come to get another opportunity.
Considering when this thread was created until now, the price of Bitcoin has increased to a great amount. Those who bought then would have visages full of smiles because they are experiencing a 90-100% profit, and this is not the end, when the bull run start Bitcoin might get to a new ATH above $100k. And this is why preparation is best, having just predictions without any plan in investing is a waste of time and opportunity. However it's never late to venture into Bitcoin investment now, as there are still bull runs yet to be revealed in the near future, and mising out on those ones would be a mess. |
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Generally curious how people get into crypto/where they first hear about it. Also, what's a good place to start as a newbie?
Op you're welcome to the forum, I must commend that you are in the right place at the right time, and you'll definitely get what you want if you can give yourself to reading and asking of questions on things that you failed to understand, this is basically how majority of is here learnt from each other. I can see that you have been supplied with some materials that will aid your understanding better, however reading is the only solution to understanding here. |
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I don't talk much about trading or other things to people who ask me. when someone asks about crypto trading or wants other information from me. then I will just suggest them for Bitcoin investment. Some people are actually very interested in the hype brought by memecoin, and friends asked me about memecoin. but I will just answer Bitcoin is the best and invest there and you will make money.
regarding knowledge and risks, they should have studied it first out of their curiosity.
I know there are many doors to making money from crypto. but introduce them to the best.
Your points are valid, as a beginner the best option to stay focused on is Bitcoin holding, and not trading. A beginner with the impression to start trading almost immediately is likely to run at loss, so investing In Bitcoin would eventually get the investor exposed to the basics of cryptocurrency transaction, storing of seed phrase and other disciplinary acts like holding without temparing with your investment, studying the market.... And one could even make some profit off the process of learning if Bitcoin pumps. |
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Having a mentor in the forum is a good idea, but considering their unseen activities outside forum, I doubt if you'll the receiving the kind of attention in which you desire. Actually majority of us here were forced to make our own research and learn from them, and I think that the best way in learning after receiving directives from the forum. Though learning from someone directly usually simplifies the process of learning but the problem is having a time to spare for teaching.
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In the process of our Bitcoin accumulation, it is beneficially necessary we keep aside reserve funds. Reserved funds are money kept aside for future purposes and these incidents are likely anticipated, it is slightly distincts from emergency funds.
Most investors now successfully keep aside their reserve funds but in a way are spending from it for the wrong reasons. These funds are the primary backbone of an investor and should be carefully spent, if wastefully spent then comes the need for financial involvement whereas if there is nothing left in the reserve funds balance then the investor will be left with no option than to terminate part of his portfolio which is a wrong practice for a good investor.
Our reasons as to spending from reserved funds shouldn't be for fun or enjoyment purposes so when a more pressing financial need strikes we should be able to afford it and not cater on how to raise such an amount of money.
I've been hearing about this reserved fund for a while now and I quite understand what it's all about but from what I understand, I'm finding it difficult to understand as you separated reserved fun from emergency fund, I always thought the both are thesame and here are my reasons. The definition of emergency funds also meet that of reserved fund, and come to think of it, as bitcoiners, what the essence of having two separate saving out your Bitcoin investment. Actually I would prefer using all the money for reserved to invest in Bitcoin while I still have an emergency fund to back me up should in case of emergency, if there is any reason to buy anything I've been anticipating for a while, then I'll just have to withdraw from my bitcoin and buy, after the fund might even gain value over that period of time. |
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I say make I bring this one to our notice. Recently, Naija and other African countries don dey recognise as the world largest crypto farmers. So tay e affect many of our business men and women for society. With the way things dey go so no body for our country wan dull am again, about 70% of the youths don dey farm sites like tapswap, hamster combat, yes coin etc
Sincerely speaking, threads like this should have links to the source, as this isn't just a regular, at least we ought to have a glance on the mentioned claimed by the op. I can't tell for sure but I believe Nigeria would not joke with any update that brings money. Almost everyday I receive referral from friends and colleagues to start tapping since it's the current trend. Our government are one amongst the major reasons why we haven't being ranked top 3 across the world. We can be innovative and if given the opportunity Nigerians would utilise it with pleasure. |
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You have spoken well but you should have added Bitcoin to your post so that it would not be tagged as off topic, though you can still do that now to avoidthe moderator moving your post to off topic. It's true things have changed compare to when we were still kids. I could remember how things were so easy and swift to get but as the years go by, inflation sweeps the value of our currency away and this increasing the cost of living. But this is where Bitcoin comes in, the fact that it's not being pegged to any fiat currency make it outstandingly beautiful. Bitcoin is not being affected by inflation and from the statistics at hand, Bitcoin will keep rising as demand continue to increase. However learning a digital skill is important as the world is getting digitalized and this is another advantage for Bitcoin being digitalized make it an updated version of transactable currency to be used in this jet age. One can also learn any demanding digital skill as a backup, because these days school certificates are not a guarantee that you'll get a job but adding extra skills to your profession or relevant skill might give you a upper hand to be selected among several qualified graduates.
There are several persons out there who have use FX trading/ crypto trading to make good wealth for themselves and these persons are living comfortably well in this economy. Hoping on government and private office works are scarce this days and the probability of getting one is small, learn a digital skill and increase your worth/ value.
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