Bitcoin security tips for beginners

[Munir575]

Because the cryptocurrency market is constantly changing, it is your obligation to guard your digital assets by implementing necessary measures to protect your wallet from hacks. Learn about the most recent attack methods, safety precautions, and protective informations.
The primary source of risk to your bitcoin is your bitcoin wallets. In addition to storing your bitcoin a bitcoin wallet includes a private key that gives you access to your wallet anytime. Anyone who obtains your private key, which serves as your digital identity, has the ability to illegally take your bitcoins.
Cybercriminals utilize advanced methods to crack into BitCoin wallets to steal funds covertly outside the owner's awareness. Whenever it is about safeguarding your BitCoin against attack, wallet security is essential. BitCoin can be kept safe from cyberattacks in numerous ways, Here are some of the ways to safeguard your Bitcoin:
1. Keep Private Keys Offline
2. Don’t save your recovery seed digitally.
3. Use Dedicated Hardware
4. Make Use of Hardware Wallet
5. Avoid storing your BitCoin in exchanges

1. Keep Private Keys Offline:  The passcode utilized in protecting your BitCoin wallet from unauthorized accessibility is the private key. Anyone who can be able to know your private key will have accessibility to your bitcoin and will be able to carry out unauthorized transactions from the wallet. Never let anyone have means to access your account especially when you don't want them to access it. Your private key must be securely stored offline in a place known to you alone. Because anything within the internet can be tracked and you wouldn't want your keys to end up in the wrong hands, so it's better to keep the private key offline, away from internet connections. The most safe, dependable, and secure way to keep your private keys is using a hardware wallet. You can also write your private key on a piece of paper, make duplicates of it, and store them in different places in case of emergencies like floods, earthquakes, or a fire outbreak.

2. Don’t save your recovery seed digitally: Keep your 12-word secret recovery phrase off any digital storage. Everything that is online as you may well know is  vulnerable to hackers. Hackers can access digital data and files but they can't access documents that are printed on paper. The 12-word secret recovery phrase is the master key created by your wallet so If your computer crashes or another incident prevents you from accessing your wallet on any device it is installed on, these words help you get your money back. Your secret recovery phrase must be kept secure like all of your other possessions and should not be stored electronically or digitally because anyone who discovers your secret word can steal from your wallet. Writing the recovery seed down on paper is a good way to keep it secure but because paper is fragile and can easily be damaged, it is best to stamp the recovery seed into metal, walls, or possibly the back of your wardrobe to protect it from water and fire damage. To avoid loss due to disasters such as floods, earthquakes, and fires, it is always a good idea to have multiple copies of your secret phrase stored in different locations.

3. Use Dedicated Hardware: A reasonable precaution to reduce vulnerability to hacks is to dedicate a hardware or USB key for moving data or money from an online computer to an offline one. This can also be accomplished by purchasing a separate laptop, unplugging the networking cards, and installing the wallet software on this laptop, which must never be connected to the internet.

4. Make Use of Hardware Wallet: The most secure way to store your Bitcoin is in a hardware wallet. It provides a considerably higher and thorough level of protection. A hardware wallet is a physical device that is not connected to a network that enables you to store your bitcoin offline. It uses an encrypted USB key that has an onboard computer running in its own unique operating system. There are various kinds of hardware wallets which are explained in the link below.
https://bitcointalk.org/index.php?topic=4578719.0

5. Avoid storing your Bitcoin in exchanges: It is not recommended to store your bitcoin on exchanges because you do not have complete control over your wallet and funds. Although many exchanges provide the impression of being safe and secure but not all of them actually are, instead they are prime targets for cyberattacks, and if those attacks are successful, cybercriminals will have access to large sums of money. It's also possible for exchange owners to defraud customers and flee with their assets, as I recently saw in the movie (TRUST NO ONE: THE HUNT FOR THE CRYPTO KING) which follows cryptocurrency investors who investigate the death of their exchange's founder and suspect that he faked his own demise in order to defraud all of the company's customers of all of their assets. Later, I discovered that it was based on a true story and if it has happened before, it could happen again. Exchanges are unpredictable and you do not want to lose your belongings so its better not to keep your crypto assets there.

[SatoPrincess]

I think number 2 and 5 are the most common mistakes people make when using bitcoin. How to secure one’s private key can be a dilemma. The simple method of writing the 12 phrase on a piece of paper doesn’t sit well with some people especially those who are drawn to the digital way of life. To them the safest place is the cloud, they store most of their important document there so why not this one? I have also read about engraving your keys in metal plates. To be honest, I prefer to go for the simple and less sophisticated method.

[Rruchi man]

Cybercriminals utilize advanced methods to crack into Bitcoin wallets to steal funds covertly outside the owner's awareness.

Cybercriminals are not the only set of persons newbies should be weary of these days, I always advice both on forum and offline that because of the very harsh economic situations currently, physical theft is also possible, we can't completely trust some persons we call our friends/family and tell things to. So I will like to reiterate  and remind everyone again that in addition to the good tips by OP

1. Keep Private Keys Offline
2. Don’t save your recovery seed digitally.
3. Use Dedicated Hardware
4. Make Use of Hardware Wallet
5. Avoid storing your BitCoin in exchanges

Newbies and some other old forum users should also be careful who they tell about their bitcoin involvement...

[tranthidung]

Security checklist
Recommended wallets and basic advice

• Do not use wallets that don't give you recovery data; these wallets are likely controlling your keys.
• Do not use paper wallets unless you're an advanced user who understands all the risks.
• Do not store large amounts of value in single signature wallets.
• Make sure your heirs know how to recover your wallets without you!

I always remind people that they must do a checking on usability of their wallet backup. Making a backup is not enough. You must try to recover your wallet to make sure your backup works. After checking is fine, you can use that wallet.

Advice for your writing:

• Don't try to make a wall of text. It's annoying and distracting for readers.
• Very little readers will spend time to read wall of text.
• Make sure you write as most succinctly as possible

When trying to write quality posts, a lot of people act as though they're writing a book report for school: putting facts that we already know into their own words. Nobody wants to read that, and you will not get merit for it. Moreover, the length of your post and the quality of your English are only minor factors. In trying to write a quality post worthy of merit, you should offer new ideas, personal experiences, or perspectives that other forum users will actually find new and interesting.

[TravelMug]

Maybe the OP can also revisit this old but still very relevant topic regarding security tips:

[1]Best practice handling Bitcoins

We also need to protect our computers and or PC as well as they are the first one to be vulnerable to hackers and cyber criminals. So another basic that we need to know in the beginning. Don't used crack anti-virus software, just just the genuine one even if it cost you some money because you might regret not getting them in the beginning as they are the first wall of defense.

[aysg76]

2. Don’t save your recovery seed digitally.

You should be storing your seeds phrases offline in multiple places with extra copies but be sure they are accessible only by you.You don't need to have any SS for it on your device also and don't share it with others also.To add extra layer of security add passphrase to them but remember you also need to backup it in case you have added them with seed phrases.

But if you want to save them on metal devices to protect them from extreme conditions then you can have a look at this thread : Securing Seed phrase with washers

4. Make Use of Hardware Wallet

That's the best practice but find out the coins the wallet support in case you are looking to store some altcoins in them so to be sure beforehand.But if you are planning to have Ledger Nano Model X then don't buy it as there are many technical bugs and battery issue with it.

5. Avoid storing your BitCoin in exchanges

If you want to loose control over your funds and don't care about them at all then leave them on these CEX who will put restrictions on you for using your funds only.Enjoy giving away your coins to them.

[Pmalek]

That's the best practice but find out the coins the wallet support in case you are looking to store some altcoins in them so to be sure beforehand.

Trezor supports less coins than Ledger, but we are still talking about almost 2000 different coins and tokens. There are differences between Trezor One and Trezor T when it comes to crypto support. Ledger supports even more and there are no differences between the 3 currently available models (except the missing support for some assets in the new Nano S Plus). I would argue that if the coin you are holding has been around for a while but it's still not supported by either/both Trezor and Ledger, it's not an asset worth holding at all.

[Ryker1]

Well for me --there are no good and secure wallets if you don't know how to protect your seed. This is very important of all when it comes to storing your assets, because for me --even though I am using an open-source wallet like Electrum for how many years but I did not get even hacked because I know how to protect it and just to be vigilant upon using your wallet online.
Storing on the exchange or any custodial wallet is very risky, anytime an exchange or custodial wallet has a right to freeze your account if you will violate the terms.
However, though OP has given good advice, there are still many factors to consider of storing your bitcoin safe.

[Despairo]

1. Keep Private Keys Offline
2. Don’t save your recovery seed digitally.
3. Use Dedicated Hardware
4. Make Use of Hardware Wallet
5. Avoid storing your BitCoin in exchanges

You're actually repeating your own words, this mean you're only give 3 guides.

The best thing about security tips for Bitcoin is:
1. Avoid linking your PC or phone to any connection and you shouldn't downloading any malicious software especially you installed the crack version (which is you don't know the credibility of the sources).
2. You shouldn't click random sites and use only https to prevent from any risk to get infected by a malware.
3. Don't ever publish your email, address etc since if they can link your address to other personal information, you might got blackmailed.

[Marvell1]

Well for me --there are no good and secure wallets if you don't know how to protect your seed. This is very important of all when it comes to storing your assets, because for me --even though I am using an open-source wallet like Electrum for how many years but I did not get even hacked because I know how to protect it and just to be vigilant upon using your wallet online.
Storing on the exchange or any custodial wallet is very risky, anytime an exchange or custodial wallet has a right to freeze your account if you will violate the terms.
However, though OP has given good advice, there are still many factors to consider of storing your bitcoin safe.

Pick an open source wallet, and most importantly, how to keep our private keys. As long as your seed/private key is safe, no one can attack your crypto assets. Hardware wallets will increase your security somewhat, but not make you absolutely safe, if you don't know how to store your private keys, so will any wallet.

Storing assets on exchanges is not really a good idea, but since one is trading on them on a daily basis, storing assets on exchanges is inevitable, the best way is that you should only leave a part of your assets just enough for work, the rest should be in your personal wallet.

[Husires]

Offline mode gives a false sense of security, as the hacker may be connected using Bluetooth or any connection other than the Internet, and there may be viruses on your computer that record data and transmit it when you connect to the Internet.
The more accurate expression is airgapped that seeds did not connect to the Internet and will not connect (Air gap (networking)).


The rest of advises are good.

[tranthidung]

The more accurate expression is airgapped that seeds did not connect to the Internet and will not connect (Air gap (networking)).

Some of very old guides about air-gapped wallets

• [Guide] Secure air-gapped crypto wallet storage method

One of worst practice is making backup, exclusively password and save it in email, Dropbox, Google Drive. Storing personal and vulnerable things on third-party services are very risky practice.

[worle1bm]

The best thing about security tips for Bitcoin is:
1. Avoid linking your PC or phone to any connection and you shouldn't downloading any malicious software especially you installed the crack version (which is you don't know the credibility of the sources).
2. You shouldn't click random sites and use only https to prevent from any risk to get infected by a malware.
3. Don't ever publish your email, address etc since if they can link your address to other personal information, you might got blackmailed.

Clicking on the links we see on internet is first step we should avoid as they can put virus in our device looking for funds in our wallets and before we know about it the wallet is drained out so stop clicking on links as your security step and follow the rest steps also to be more secure as your funds could be gone easily with your one mistake only.

[mk4]

I’ve been saving my recovery seed phrase digitally and stored it on my cloud storage since I start in crypto way back 2015. I knew the danger of storing it digitally but I know how to properly protect it so I’m fine and no history of losses even before.

I hope you really know what you're doing because that's very risky even with the standards of a security expert. There's a good chance that you're overestimating your security.

I believe beginner should know these steps for basic and also they should also know too how to protect them even by not doing this by the book method like trust only hardware wallet because it will be very inconvenient to carry always your hardware wallet or make a quick transaction if you are using hardware wallet only as safety precautions.

You don't necessarily need to put 100% of your money on your hardware wallet, just like how you don't put 100% of your money in your bank; you have some on-hand physically for easier purchasing.

[tranthidung]

Clicking on the links we see on internet is first step we should avoid as they can put virus in our device looking for funds in our wallets and before we know about it the wallet is drained out so stop clicking on links as your security step

• Don't click on unknown links from people who don't know.
• Don't click on strange links from people you know.
• As always, set up 2FA for all of your accounts (email, Telegram, Discord, etc.) if they allow you to customize your account settings this way.
• Restrict people who can add you to groups. The less exposure to potential scam groups, the less risk you will see and click on hazardous links.
• Avoid any "too good to be true" offer from strangers. Very likely scam and hazardous links.

[Mpamaegbu]

Cybercriminals utilize advanced methods to crack into BitCoin wallets to steal funds covertly outside the owner's awareness.

You make it sound like cypbercriminals have to be that advanced in tech to be able to wreck havoc. A simple pm promising a great ROI to a greedy newbie can swerve a scam to a criminal's favour, even here. Many people who think (erroneously that is) that Bitcoin is a hyip or a get rich quick type of investment will fall for anything that's a shortcut to riches. To a greater extent, most people get scammed because of their own greed to hit it big instantly. BTW, you don't have to write Bitcoin like it's two different entities with a capital letter c.

2. Don’t save your recovery seed digitally.
5. Avoid storing your BitCoin in exchanges

Nothing can be farther from the truth with number 2. People shouldn't do that. However, number 5 can only be practicable for those who hodl and not the regular traders who need their coins for daily engagement. You don't want to be transferring Bitcoin/cryptos every time you want to trade.

[Note3]

4. Make Use of Hardware Wallet: The most secure way to store your Bitcoin is in a hardware wallet. It provides a considerably higher and thorough level of protection. A hardware wallet is a physical device that is not connected to a network that enables you to store your bitcoin offline. It uses an encrypted USB key that has an onboard computer running in its own unique operating system. There are various kinds of hardware wallets which are explained in the link below.
https://bitcointalk.org/index.php?topic=4578719.0

People who are new to the crypto world are impossible to directly use a hardware wallet, most of them will actually use an online wallet even exchange wallet because they think it's safe as long as they use double security like 2fa, even though it's not safe at all because the platform can be hacked.

[aysg76]

• Restrict people who can add you to groups. The less exposure to potential scam groups, the less risk you will see and click on hazardous links.

Telegram scams are the most obvious types of scams we have seen recently as you would be added to some fake groups without your wish and then they will promote some shitcoins there or send you links with lucrative offers and under greed or carelessness you click on them and rest work is done by them by taking control of your funds or you yourself deposit in their wallets.

So just have the settings that only your contacts can add your to group as by default it's set on for everyone which is risky as you are paraded by scammers in your telegram account.

Telegram>Settings>Privacy and security>Groups>My contacts

This is safety step along with 2FA with TOTP methods but also remember most of them have authenticator installed on same device and in case it's gone your security steps also fail so be sure about the same.

[tranthidung]

Telegram scams are the most obvious types of scams we have seen recently as you would be added to some fake groups without your wish and then they will promote some shitcoins there or send you links with lucrative offers and under greed or carelessness you click on them and rest work is done by them by taking control of your funds or you yourself deposit in their wallets.

So just have the settings that only your contacts can add your to group as by default it's set on for everyone which is risky as you are paraded by scammers in your telegram account.

Telegram>Settings>Privacy and security>Groups>My contacts

I know. If anyone need a more guides to avoid scam on Telegram.

• Impersonating scam on Telegram
• Do this if you don't want to be dragged to different telegram ICOs
• Some Telegram tips for newcomers in the crypto community
• One more thing, if any stranger contacts you on Telegram and give you financial invitation, you should ignore it. If you look back at these users a few weeks later, you will see they turn to Deleted accounts. Scammers confirmed!

This is safety step along with 2FA with TOTP methods but also remember most of them have authenticator installed on same device and in case it's gone your security steps also fail so be sure about the same.

Yeah. I have it too. You can also set up 2FA password.

[xSkylarx]

I will also add that never share to anyone your private or seed phrase. Use only the official links of a wallet before downloading it and putting your recovery phrase there. Make sure that your device is not compromised for some malwares that will result for your bitcoin and other crypto to disappear suddenly. Use multiple layer of security on hardware wallets. There are some that use fingerprint to approve transaction not just putting a 4-digit pin or alphanumeric password.