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Author Topic: "How best do I secure my investment on bitcoin as a newbie"  (Read 630 times)
Ever-young
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July 05, 2024, 01:49:57 PM
 #61

The reason why everyone is taking their time to advise you is because we care about everyone on this forum and i want to also let you know that if someone else gets your private key, not even the police can help you trace who transfered and who received the money, so be careful
This is true, but there are times where someone who receives access to the other person's private key might not be a professional in hiding or sending out the holding; they most often just send it directly to an exchange wallet, which can easily be traced if they follow the right process and contact the right authority. They can just send a request to the exchange to get the identity of the person if they pass KYC in that exchange.
DarkState
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July 06, 2024, 04:32:24 AM
 #62

It is great to see that you want to learn. Also secure your Bitcoin is most important. First of all unnderstand how Bitcoin and blockchain technology works. Take your time read articles or watch videos. Then use a secure wallet to store your Bitcoin. You can use Trezor and avoid keeping large amounts of Bitcoin on exchanges. But if you want to use exchange platform then must enable two factor authentications. This will add an extra layer to your security.
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July 06, 2024, 07:07:13 AM
 #63

The reason why everyone is taking their time to advise you is because we care about everyone on this forum and i want to also let you know that if someone else gets your private key, not even the police can help you trace who transfered and who received the money, so be careful
Not exactly. If someone steals your bitcoin and transfers it to an address connected to their real identity, like the wallet on an exchange, you could eventually discover who is behind the theft. You would have to file a police report and charge that anonymous person with theft. Those documents would have to be presented to the platform where the coins went to block the account and reveal who is behind the theft. This is a process that takes time and patience and it might not work if law enforcement in your country doesn't care or doesn't know how to approach the case properly.

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