Are your Bitcoins safe?

[oktana]

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.

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.

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

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?

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.

[smyslov]

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.

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.

[Twentyonepaylots]

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.

[Eureka_07]

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.

[pecson134]

While I was scrolling through some tweets today, I came across someone's tweet regarding Bitcoin

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.

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.

[manfredmann]

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.

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.

[xSkylarx]

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.

[bryant.coleman]

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.

[acener]

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.

[michellee]

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.

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.

[LimLims]

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.

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.

[Mr.sprin]

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.

[shoreno]

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 .

[ethereumhunter]

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.

I will not leave my Bitcoin in the exchanges again because if the exchanges will be compromised then all of your crypto assets are gone too. This is what happened to me this year (Kucoin exchange) in which my .003 BTC were gone so for me the safest way will be the offline and hardware wallet just ensure that your password, recovery phrases and private keys are in safe place with back up.

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.

[Walterhank]

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.

[samputin]

~
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.

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.

[jostorres]

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.

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.

[kkaroul4]

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.

[goldade]

While I was scrolling through some tweets today, I came across someone's tweet regarding Bitcoin

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'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.

[Yatsan]

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.