Are your Bitcoins safe?

[nelson4lov]

Safety and security of one's assets is one (if not the most) of the most underrated topic in the crypto space. Even today, we see people get locked out of their wallets from time to time due to the fact they've either lost their wallet credentials (priv keys, recovery phrases, etc). The fact that people take these things for granted is surprising. We usually forget that since Bitcoin and other cryptos are decentralized, it means we have a much bigger role to play in ensuring that our assets are safe at all times. It's our responsibility except we move these assets to custodial wallets like exchanges and other financial platforms in crypto.

[Shasha80]

It will be interesting if we talk about Bitcoin wallets, because it would be annoying if we forgot the password and didn't store the private keys
and recovery phrases properly. Therefore, actually the most important thing when we invest in Bitcoin is not only determining when to buy
Bitcoin or sell Bitcoin.

But an important thing that many investors should pay attention to and forget is how we protect our wallets, and also how to properly store
private keys and recovery phrases. Therefore you have to learn to do good backups when you forget or lose your wallet password. That way
investing in Bitcoin can be very safe.

[Astvile]

Private keys, seeds are almost equivalent to passwords in the crypto world so we should also be aware and it is a must to take all preventive measures to prevent getting hacked or losing your keys and your back up to your wallet. I have learned this the hard way before I am depositing BTC to a wallet that I don't even have the keys to anymore, it will be close to impossible to recover wallets with lost keys seeds, and passwords. Don't be overconfident about your security always have the initiative to check and update from time to time.

[Nikole Fischer]

Guys, be more careful and keep all backups securely!!! Now is the time when everything is easy to hack. So take it seriously!!!

[Janation]

I could relate this in the past.

Not my experience but there are a lot of people who bought Bitcoin and are not serious about holding it or trading it and when the price exploded, they are posting everywhere asking about how they would be able to get back their wallets with their private keys gone, forgotten, and deleted. Some even already threw their PCs where their bitcoin is stored.

[michellee]

We are thinking about the password, so it means safe, but for me, we need a strong private key to secure and ensure because if we have forsaken our account we may lose everything
Aside from this, there is no accountability and bitcoin does not care when everyone is lost.

By using a strong password, and we store our bitcoin in the wallet that we control, we do not have to worry about getting lose or hack or steal by other people. We can have a responsibility to take care of our wallet because we can control the wallet without anyone knows. And we should have a backup of the password, private keys in a safe place, so if something worst happens to our device, we can install the wallet in other devices and we can directly access our funds.

[Genemind]

This is true, I actually looked up some of my wallets when I read this post. I even forgot qhat password I used on some of my wallets, and if I have kept a copy of the seed phrase somewhere else.  Securing your password is a must in crypto that we sometimes forget. It is difficult to recover a wallet if you lose access to it. Always secure your account, always keep a hard copy of your passwords and keep it safe.

[Sithara007]

I could relate this in the past.

Not my experience but there are a lot of people who bought Bitcoin and are not serious about holding it or trading it and when the price exploded, they are posting everywhere asking about how they would be able to get back their wallets with their private keys gone, forgotten, and deleted. Some even already threw their PCs where their bitcoin is stored.

It takes just 5-10 minutes to generate the backup file and to store it securely. This could save you from potential heartburn later. During the early days, a lot of people lost their coin holdings to carelessness. I still remember reading about an incident, in which an user lost 25,000 BTC in 2012, because he didn't bothered to enable email confirmation and 2FA to his Bitcoin wallet.

[Crislyn4116]

I could relate this in the past.

Not my experience but there are a lot of people who bought Bitcoin and are not serious about holding it or trading it and when the price exploded, they are posting everywhere asking about how they would be able to get back their wallets with their private keys gone, forgotten, and deleted. Some even already threw their PCs where their bitcoin is stored.

It takes just 5-10 minutes to generate the backup file and to store it securely. This could save you from potential heartburn later. During the early days, a lot of people lost their coin holdings to carelessness. I still remember reading about an incident, in which an user lost 25,000 BTC in 2012, because he didn't bothered to enable email confirmation and 2FA to his Bitcoin wallet.

It proves to us that no matter what, we should responsibly keep on our bitcoin right now. We should neither look for the safest wallet we could  not even hardware like ledger can be safely trusted. In fact attacks can be so prone to bitcoin holders that it can possibly the next topic for next weeks' hacking, just IMO. But possibly right....?

 these kind of negligence can't cause trouble to the network, it caused stubborn to the holders lol.

[Sparrow96]

I lost one wallet last year. Forgot 12 mnemonics. All cryptos in it lost now. I forgot where I write down the words. Now I have become careful now. I also suggest checking your phrases if they exist in your control.

How much the bitcoin it has the wallet that you lost? Others also lost their wallet because they forgot the details of the wallet or they did not save it . Like those people who are care about bitcoin in the year 2009 they have thousands of bitcoins but they lost their key and they did not open their wallet and they lost millions of dollars and that is very sad to happen if the money that you lost on you is very huge amount.

I don't remember how many Bitcoin I was holding. Also, I was using multi-coin wallet. The seed phrase contains other alts too like BNB, Ether, tron etc. I think it's not less. I lost multiple wallets. Also, I didn't save wallet address. So that I can track balance. It's gone for good.

[Janation]

I could relate this in the past.

Not my experience but there are a lot of people who bought Bitcoin and are not serious about holding it or trading it and when the price exploded, they are posting everywhere asking about how they would be able to get back their wallets with their private keys gone, forgotten, and deleted. Some even already threw their PCs where their bitcoin is stored.

It takes just 5-10 minutes to generate the backup file and to store it securely. This could save you from potential heartburn later. During the early days, a lot of people lost their coin holdings to carelessness. I still remember reading about an incident, in which an user lost 25,000 BTC in 2012, because he didn't bothered to enable email confirmation and 2FA to his Bitcoin wallet.

Just how careless people are about Bitcoin in the past.

That amount, 25, 000 Bitcoins is a huge amount right now, especially that we are still rallying. I don't know what happened to that guy but for sure, despite the years passed, he is still regretting he didn't enable tha email confirmation and 2FA. I think the title should not be "Are your Bitcoins safe?" It should be something like "Are we aware of our Bitcoins' safety"

[panganib999]

I lost one wallet last year. Forgot 12 mnemonics. All cryptos in it lost now. I forgot where I write down the words. Now I have become careful now. I also suggest checking your phrases if they exist in your control.

How much the bitcoin it has the wallet that you lost? Others also lost their wallet because they forgot the details of the wallet or they did not save it . Like those people who are care about bitcoin in the year 2009 they have thousands of bitcoins but they lost their key and they did not open their wallet and they lost millions of dollars and that is very sad to happen if the money that you lost on you is very huge amount.

I don't remember how many Bitcoin I was holding. Also, I was using multi-coin wallet. The seed phrase contains other alts too like BNB, Ether, tron etc. I think it's not less. I lost multiple wallets. Also, I didn't save wallet address. So that I can track balance. It's gone for good.

That's one of the worst one reason why online wallets isn't as safe as they say because as long as you have the phrase key or the seed, it is good. And when you lost it and you don't have any otger back up where to put them, it is not good. People always say that online wallet or multiple erc wallets are safe yet it doesn't that safe as they say. For me, I alsp use it but it is better to have some back up wallet rather than losing all of ypur funds in just 1 wallet. Make sure to save all seed keys and phrase keys and hopefully this will be a lesson to you.

[0t3p0t]

He probably mean passwords of bitcoin wallets, probably pin of app wallet on phones.

If it once happened that you lose access to a wallet, you wouldn't want it to happen again. This is why I have taken extra effort to realy pile the txt files and png files I have on a directory where they all stay.

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.

Yeah he probably mean passphrase mate. But passphrases/pins are easy to access if forgotten just by importing private keys/seed phrases to another wallets but if you lost the private key or the seed phrase that is a different story because that is impossible to recover our funds. We really need to store it in the safest place. Copy pasting of private keys and master seed is sometimes risky since it will be stored on clipboards that be hacked through apps or programs running on our devices everytime we connect to the internet.

[Crptomagma]

I guess he probably mean the password for your bitcoin wallet, he isn’t a bitcoiner if not would have preferred using the word recovery phase or private keys. Bitcoin is decentralized and can only be accessed using a digital wallet and in other to keep your seed safe the wallet can only be accessible using private keys and recovery phrase.

These methods make the using of Cryptocurrency safe for its users and by all means the private key or recovery phrase should be kept in secure location. It’s going to be total loose if wallet details is lost and forgotten.

[Sparrow96]

I lost one wallet last year. Forgot 12 mnemonics. All cryptos in it lost now. I forgot where I write down the words. Now I have become careful now. I also suggest checking your phrases if they exist in your control.

How much the bitcoin it has the wallet that you lost? Others also lost their wallet because they forgot the details of the wallet or they did not save it . Like those people who are care about bitcoin in the year 2009 they have thousands of bitcoins but they lost their key and they did not open their wallet and they lost millions of dollars and that is very sad to happen if the money that you lost on you is very huge amount.

I don't remember how many Bitcoin I was holding. Also, I was using multi-coin wallet. The seed phrase contains other alts too like BNB, Ether, tron etc. I think it's not less. I lost multiple wallets. Also, I didn't save wallet address. So that I can track balance. It's gone for good.

That's one of the worst one reason why online wallets isn't as safe as they say because as long as you have the phrase key or the seed, it is good. And when you lost it and you don't have any otger back up where to put them, it is not good. People always say that online wallet or multiple erc wallets are safe yet it doesn't that safe as they say. For me, I alsp use it but it is better to have some back up wallet rather than losing all of ypur funds in just 1 wallet. Make sure to save all seed keys and phrase keys and hopefully this will be a lesson to you.

Yes, I learned it in a hard way. Now I try to write down them in safe place in offline. I also suggest others to keep a back up in paper. Don't keep a digital copy as it's risky.

[bryant.coleman]

Yes, I learned it in a hard way. Now I try to write down them in safe place in offline. I also suggest others to keep a back up in paper. Don't keep a digital copy as it's risky.

Compared to Bitcoin wallets, ERC-20 wallets are more prone to hacking. So if you have any ETH or ERC-20 tokens, then take additional precautions to secure them. And you need to remember that cryptocurrency transactions are irreversible. Once your coins are gone, you are not going to get them back. I am sorry for your loss, but you need to move on and be more careful in the future.

[Tingtong]

No i cannot believe that bitcoin safe. Just because of the bitcoin was not safe, is not safe and Won't safe. Many of the hacker always set up his studio for hacking many bitcoin from other btc worker. And many of the scamer always scam in this site. So i want to say that bitcoin is not safe.

[CODE200]

No i cannot believe that bitcoin safe. Just because of the bitcoin was not safe, is not safe and Won't safe. Many of the hacker always set up his studio for hacking many bitcoin from other btc worker. And many of the scamer always scam in this site. So i want to say that bitcoin is not safe.

Sketchy.
Imagine how many wallets are having huge amounts but there are only isolated cases wherein such thing occurred and most of it includes user fault (based on what I've heard from other users). Never share your private keys, that's the main thing. If important details are compiled to something, a file as an example, make sure to secure the file in order to not be accessed instantly. Once there are other people who knows your private keys, not only in this industry, you will be exposed to risk of being hacked. Bitcoin is a safe crypto as it is now getting broader support from different governments. And concerns regarding wallets being exposed to hacking instances or issues, I think, is another concern.

[sapnu]

We can not generally recall the private key or seeds, so we frequently compose it on a paper. Unfortunately, my wife threw that paper but that GOD I remembered the password. Yet, I was late, somebody previously took my all bitcoins and move them to an obscure wallet id. At any rate, it was my issue to not keeping the bit of paper on its precise spot. It was a great lesson for me. Your bitcoins are protected as long as you keep your private key in a safe spot. It's difficult to keep your bitcoin's wallet private key yet not feasible.

That is too difficult to store, why not using a private folder on your personal computer that consists of all of that password of your wallet, even the password of the email that you have used on enabling the two-factor authenticator. So that you can easily check if you forgot the passcode, and it is safe since the device is yours. Just don't let other people open your private folder, trust no one when money is involved. There are lots of people who are losing money because of that. Hacking is also possible, so you need to be careful about the websites that you are browsing.

[Cling18]

Our wealth or even Bitcoin investments would be nothing if we'll not be mindful or careful of our wallet passwords. There are ways to store our earnings safer such as using a hardware wallet which I have been doing for years. Entrust your private keys with a trusted person only or keep them well by at least writing it down on a piece of paper and secure it in a safe place so you won't have regrets in the future.