are crypto owners naturally paranoid?

[Obito]

You have total control over your personal wallet and it’s way safer except you’re careless enough to lose your phrases or keys. With exchanges, you can’t completely tell what can go wrong.

That's what I was about to say because OP have it differently, remember that those sites where they store bitcoin have been attacked which is what's going to make someone really paranoid instead of having it in a hardware wallet where it's your responsibility to make sure you will be able to still access it.

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[leea-1334]

I do not think so actually that crypto owners are naturally paranoid.

Bitcoin owners yes,,, but if you take a look at defi and nft and memecoin space which are the most popular now, you see everyone jumping in on new tokens and new defi platforms, and locking tokens here and there, connecting wallets to every site and game.

This is not paranoid behavior at all  

[whynotBTC]

True version of the question is that are non-crypto owners naturally paranoid? There is a spesific reason of reality. Software, open source software of the Bitcoin and all the cryptocurrencies.

[zaesvlas]

And why even thinking about paranoids? As for me, it is rather the opposite - these are people who are not afraid of risk. For even now, many do not believe in cryptocurrency.

[famososMuertos]

It is the correct use and maximization of the technology to which you have access not only for the simple daily use, but for all the benefits associated with the bitcoin architecture. That said, the security and control of your assets are intrinsic to bitcoin.

So, if you abandon those premises of bitcoin for your own decisions and consistent with your financial priorities, it does not matter, if it is what is convenient for you, you do it, but if you go to an exchange out of fear in the belief that if I lose my keys or get hacked, etc.then you consider it safer, It's not right, it's not the right thing to do.
BTW it is not about mental problems or giving ratings to users who rely on the security that bitcoin offers.

[Hamphser]

And why even thinking about paranoids? As for me, it is rather the opposite - these are people who are not afraid of risk. For even now, many do not believe in cryptocurrency.

Do you know on what paranoid is?

People are way too over protective into something which they do mind off in all sorts of possible ways for them to get scammed or hack thats why we are really are too overprotective into our own wallets which i dont see anything wrong with this behavior.

It is really just normal that we do have those kind of actions and mindset yet everything could be a possible way for you to get scammed thats why whenever we do deal up with things then it would really be a normal behavior of ours.

[Wawa2013]

I do not think so actually that crypto owners are naturally paranoid.

Bitcoin owners yes,,, but if you take a look at defi and nft and memecoin space which are the most popular now, you see everyone jumping in on new tokens and new defi platforms, and locking tokens here and there, connecting wallets to every site and game.

This is not paranoid behavior at all  

You are right Bitcoin owners usually have paranoid behavior, while for newbies who are obsessed with big profits. Then investing in new projects
and meme coins does not show paranoid behavior, even though most newbies do not have knowledge and experience in the crypto world,
but they don't seem to have any fear in them. Even though they all know that the risk of investing in new projects and meme coins is very large.
So not all crypto owners are naturally paranoid, only for people who have had bad experiences in the crypto world, or for people who do know
the worst case scenario that will happen if investing in crypto is more paranoid.

[molsewid]

I do not think so actually that crypto owners are naturally paranoid.

Bitcoin owners yes,,, but if you take a look at defi and nft and memecoin space which are the most popular now, you see everyone jumping in on new tokens and new defi platforms, and locking tokens here and there, connecting wallets to every site and game.

This is not paranoid behavior at all  

I would rather have to choose to say that crypto owners are well-aware, curious and practiced to keep their assets in a well-safe environment than saying a word paranoid. Maybe to other person they may call us paranoid because we have a fear to lose our assets especially losing it through hacking or scamming or phishing but at least we do know how to protect our assets. Imagine owning a 1btc now, like if I would going to convert it into our fiat currency I am already a millionaire, so I would definitely going to protect it, even if other might say that I am getting paranoid over it.

[Theones]

It seems to me that it would be safer (and more convenient) to keep your crypto on an exchange (coinbase, blockfi etc) than cold wallet. Wouldn't the odds be greater that you mess up your cold storage than a large exchange being hacked or whatever (even if they are hacked, that wouldn't necessarily mean you would lose any coins, whereas if you are hacked that's a different story). I ordered a ledger nano X but it seems that the exchanges are still the way to go based on probabilities. What are your thoughts?

I was not in favor of exchanges (like binance) and very much supporter of slogan "not your keys, not your coins", until my electrum wallet was hacked and I lost all of my BTCs. The irony is that I cant do anything to recover them. From then onward all my assets are on exchanges and I withdraw whatever is required to my wallets.

[xSkylarx]

You have total control over your personal wallet and it’s way safer except you’re careless enough to lose your phrases or keys. With exchanges, you can’t completely tell what can go wrong.

I agree that it is better to be safe than sorry. The best thing to do in this situation is to make sure you have a hard wallet so that it is much more secure, because we never know what will happen to your wallet no matter how careless you are. In exchanges, a lot of exchanges that I was familiar with prior to 2016 are currently down, and if I ever had a coin in their website, I'm not sure how I'd go about getting it from now on.

[Victorik]

Hacking can happen to an exchange, not just to a cold wallet. I think that's why most exchanges and wallet are tightening their security to prevent the issues of hacking. However, as a user it is imperative for you to keep your password, key phrase safe.

[leea-1334]

Bitcoin owners yes,,, but if you take a look at defi and nft and memecoin space which are the most popular now, you see everyone jumping in on new tokens and new defi platforms, and locking tokens here and there, connecting wallets to every site and game.

This is not paranoid behavior at all  

You are right Bitcoin owners usually have paranoid behavior, while for newbies who are obsessed with big profits. Then investing in new projects and meme coins does not show paranoid behavior, even though most newbies do not have knowledge and experience in the crypto world, but they don't seem to have any fear in them. Even though they all know that the risk of investing in new projects and meme coins is very large.
So not all crypto owners are naturally paranoid, only for people who have had bad experiences in the crypto world, or for people who do know
the worst case scenario that will happen if investing in crypto is more paranoid.

Not even this! I know people who keep losing in ICOs, and keep losing money in rugpulls and keep coming back for more. People who lose wallets, or make mistakes sending to different wallets,,, or copy paste mistakes. And still do it again and complain again to support expecting their mistakes to be returned.

Newbie or oldie,,, if people are dumb, they are dumb.

I would rather have to choose to say that crypto owners are well-aware, curious and practiced to keep their assets in a well-safe environment than saying a word paranoid. Maybe to other person they may call us paranoid because we have a fear to lose our assets especially losing it through hacking or scamming or phishing but at least we do know how to protect our assets. Imagine owning a 1btc now, like if I would going to convert it into our fiat currency I am already a millionaire, so I would definitely going to protect it, even if other might say that I am getting paranoid over it.

Choose whatever it is you want to say,,, either you are living in a coccoon or you do not even really know crypto owners like 90% of commenters who actually do not really use crypto.

You do know 1 btc is not $1 million right? And what is the difference btc or fiat? Why would anyone protect it differently? 

[Beparanf]

Hacking can happen to an exchange, not just to a cold wallet. I think that's why most exchanges and wallet are tightening their security to prevent the issues of hacking. However, as a user it is imperative for you to keep your password, key phrase safe.

There's a pros and cons on this matter. Exchange has an insurance policy for all the funds loss in case there system was breached so there's an assurance for newbie that they will refund there account once this incident happened. The problem on using a cold storage as newbie is when they import there hardware device to malicious site or there desktop is infected by a malware. They will easily loss there fund that way rather than storing there funds on exchange.

It depends on the user capability on how they will setup security and know the safety precautions for a cold storage to become safe. Cold storage is safe technically but with the interference of lack of knowledge from its user. It might result to a disaster on one wrong move.

[uelque]

For me cold storage is still much better you just need to have the right knowledge on how to use it and you're all safe. In exchanges, though the level of security on top exchanges are very high, you should not ignore the fact that there are still chances that it can be hack. Hacker are improving day by day, cracking newest technologies and being smarter than before. That's just my opinion. But I guess it will still depend on what wallet you are very much comfortable to use.

[Finestream]

This thread quite somehow make me laugh Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.
Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.

[waichi]

I don’t agree as for me it would be safer if you keep your huge funds in cold wallet or in Nano X. As you have full control of your crpyto assets. As what most people usually say, “Not your keys, not your coins.”

Because in Centralized exchange like Binance and any other alike, it is prone to hack. And once it was hacked, it was gone forever. I don’t think it will be returned once it was hacked.

[Dhaniii]

This thread quite somehow make me laugh Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.
Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.

all their crypto owners are people who are aware of their every action, but once the transaction is done naturally sometimes they become paranoid. I think this kind of incident is natural because when the market price starts to fall, the fear of losing its assets will inevitably occur, even though some people can control it. Feelings like that can be said to be paranoid but not a mental disorder that continues to occur.

[Kasabus]

This thread quite somehow make me laugh Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing.
Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping.

all their crypto owners are people who are aware of their every action, but once the transaction is done naturally sometimes they become paranoid. I think this kind of incident is natural because when the market price starts to fall, the fear of losing its assets will inevitably occur, even though some people can control it. Feelings like that can be said to be paranoid but not a mental disorder that continues to occur.

It’s a normal thing to be emotional when you see the value of your investments are falling but not to the extent of being paranoid because that is surely unacceptable. Yes, it’s a given fact that all investors should be responsible on how to secure their wallets and for me, I prefer to keep it in a cold storage rather than in exchanges because even if we say they are reputable, it cannot be avoided that hackers are still preying on that certain exchange. And if you tend to hold your coins for long term, then it will not be totally safe keeping in exchanges especially that most of them are centralized.

[dimox]

And why even thinking about paranoids? As for me, it is rather the opposite - these are people who are not afraid of risk. For even now, many do not believe in cryptocurrency.

Do you know on what paranoid is?

People are way too over protective into something which they do mind off in all sorts of possible ways for them to get scammed or hack thats why we are really are too overprotective into our own wallets which i dont see anything wrong with this behavior.

It is really just normal that we do have those kind of actions and mindset yet everything could be a possible way for you to get scammed thats why whenever we do deal up with things then it would really be a normal behavior of ours.

can you say if checking address multiple time is paranoid? like we copy paste two or three time, than check it manual, several time to know that our packet send to right wallet?
that thing is normal for people, and this one happen to our coin box mindset. people will store on wallet or exchanger because they think if it better, save or just easy to make a move.

[cheezcarls]

I would never store my hard earned coins or tokens in an exchange even if it’s Binance or top exchanges out there. They are not exempted from getting hacked anytime without warning like the last time’s incident. Cold hardware wallet is much better because you are solely having 100% custody of all the coins and tokens that you have stored.

Now when it comes to being paranoid, it’s like you ended up stumbling in the same stone and never learned from your mistakes over and over again. So many things to consider like not doing your own research (DYOR), not having second thoughts or time to double check when sending a coin or token to a different waller, or not having common sense in a certain situation that would possibly lose you money, and so on.