Newbie errors, costly mistakes. Be secure!

[pikachujdc]

And then there was none.

Well, I have learned that it's fairly easy to lose your Bitcoins over small errors, not taking enough precautions, and improper storage of said coins. I guess one suggestion to new users coming into the world of Bitcoin is never store your Bitcoins in online wallets. Always use a 2-factor authentication to ensure your Bitcoins are well secured. Bitcoins are highly valuable, and with the ability to send them in an instant makes them a high target for scammers and phishers.

Be sure to use different passwords to ensure your safety, I personally have used the same password for almost everything, and have learned that it's not wise.

Bitcoins are highly targeted to be stolen due to the immense resell value, and their quick and untraceable getaway. You can follow the money, but you're literally at the hackers mercy for there is hardly any way to retrieve your lost funds. As said before, always be cautious and use a downloadable wallet from http://bitcoin.org/.

I have learned this the hard way, losing my 1.5 Bitcoins.

Now it's time to start again, taking the necessary precautions to make sure it doesn't happen again. Hopefully one day I shall see my 1.5 Bitcoins again!
I will keep everyone updated.

If anyone has any suggestions, please let me know as I am still learning!

Sigh,
Pikachu




View more articles: http://bitcoinadventuress.blogspot.com/

[LevLion]

Thanks so much for sharing your experience! Will help loads to the newcomers to think about precaution!

All the best!

[pikachujdc]

Thank you LevLion, I hope that it helps newcomers!

Precaution is a must when it comes to bitcoin, especially if you're going to invest into it.

[Killiz]

Also use a paper wallet if you are planning on holding your Bitcoins for the longer term https://www.bitaddress.org

You can tattoo your private key to the back of your eyelids for added security.

[pikachujdc]

Thank you for the info Killiz!

[Killiz]

No problem, without having to go into too much information, here is an info thread for bitaddress.org, https://bitcointalk.org/index.php?topic=43496.0

Its one of the most secure ways to store your Bitcoins.

[Killiz]

And a video http://www.youtube.com/watch?v=JsyPfiENwQU

[pikachujdc]

Thank you, I'll be sure to do some reading and watching now!

[cp1]

I wrote a little guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
It should give you some great security.

[pikachujdc]

Thanks cp1 I will look into that!