How do I secure my wallet

[Dimitri94]

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

Storing bitcoins for the long term, exchange wallets can pose deadly risks. A user must exercise caution in this regard. If your assets are large then you should quickly transfer those assets to a hardware wallet. Exchange wallets can betray you anytime. For example, many investors lost their money after the FTX crash. Again, many complaints are being made about Binance in recent times. However, the case may be different with Binance. But I can't be safe keeping my money with someone else. That's why there is a word that "Not your keys, not your bitcoin". I would definitely recommend using a hardware wallet when it comes to storing bitcoins for a long time. In this case I will suggest Electrum hardware wallet which is currently being used as the most secure wallet for holding bitcoin.

[borovichok]

The first step to getting your crypto assets secured is to ensure you're using a non-custodial wallet. A wallet which you control by having its recovery phrases. You can expand the security of your assets by storing them on a hard wallet. Note that irrespective of wallet you use (hard or soft wallet), you must ensure your wallet recovery phrases are well kept from where a third party can asses it

A non-custodial wallet is more secure for holding our cryptos, and we have the ability to improve the security of our wallets from the public. I'm always cautious when it pertains to my wallets, not revealing basic facts or concerns. If something troubles you, search the internet for answers, its always available to solved daily tasks. Securing your money is only possible if you keep everything personal, avoid disclosing vital information to the public, and avoid catching out peers. Wallet key words should be kept in a safe area where no one, not even your siblings, can find them.

[Tony116]

The first step to getting your crypto assets secured is to ensure you're using a non-custodial wallet. A wallet which you control by having its recovery phrases. You can expand the security of your assets by storing them on a hard wallet. Note that irrespective of wallet you use (hard or soft wallet), you must ensure your wallet recovery phrases are well kept from where a third party can asses it

A non-custodial wallet is more secure for holding our cryptos, and we have the ability to improve the security of our wallets from the public. I'm always cautious when it pertains to my wallets, not revealing basic facts or concerns. If something troubles you, search the internet for answers, its always available to solved daily tasks. Securing your money is only possible if you keep everything personal, avoid disclosing vital information to the public, and avoid catching out peers. Wallet key words should be kept in a safe area where no one, not even your siblings, can find them.

Individuals who use non-custodial wallets have full control over their private keys, which are necessary for accessing and managing their funds. This control reduces the risk of relying on a third-party custodian to safeguard their assets. You should maintain caution and privacy when it comes to your wallets. It is possible to expose your funds to theft or unauthorized access if you reveal personal information, especially sensitive details related to your wallet or private keys. Being vigilant and avoiding sharing vital information with untrustworthy individuals are essential.

Furthermore, your wallet recovery seed or private keys should be stored safely and confidentially. You retain control over your funds if you keep this information in a secure location, such as a physical safe or a password-protected digital storage device, on paper or on metal.

[PX-Z]

A non-custodial wallet is more secure for holding our cryptos, and we have the ability to improve the security of our wallets from the public. I'm always cautious when it pertains to my wallets, not revealing basic facts or concerns.

Non-custodial wallet doesn't mean an already secured wallet, security will depend from all the users' activities while using the device. If your device is unsecured your wallet will be unsecured too. Using "non-custodial" wallet also doesn't mean it's secured especially using a closed-sourced one example of what happened to atomic wallet.
I will still recommended using an open-sourced wallet like electrum, much better using on an air-gapped device.

[qwertyup23]

I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

For security, avoid putting/investing your money inside exchanges. There are lots of scenarios where exchanges have been scammed and hacked in the past which puts an additional risks to your cryptocurrencies.

Non-custodial wallets generally are safer since you have complete control over your cryptocurrencies with all the security keys and features at your grasp. If I may, I also recommend hardware wallets where you can store your private key in a safety deposit box for maximum safety and less risks in the process.

[Z_MBFM]

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

Always keep in your mind that not your key not your bitcoin. so always use noncustodial wallet which wallet will provide you a private key or security phrase then you can consider it as a safe wallet and you should careful from clicking any type of phishing link. a phishing link can put in a danger Because most of the hackers now use phishing strategy to access victims devices

[Blitzboy]

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Individuals who use non-custodial wallets have full control over their private keys, which are necessary for accessing and managing their funds. This control reduces the risk of relying on a third-party custodian to safeguard their assets. You should maintain caution and privacy when it comes to your wallets. It is possible to expose your funds to theft or unauthorized access if you reveal personal information, especially sensitive details related to your wallet or private keys. Being vigilant and avoiding sharing vital information with untrustworthy individuals are essential.

Furthermore, your wallet recovery seed or private keys should be stored safely and confidentially. You retain control over your funds if you keep this information in a secure location, such as a physical safe or a password-protected digital storage device, on paper or on metal.

Your stress on non-custodial wallets and bolstered security protocols is admirable. But, do we not overlook that not everyone can master the safe handling of these wallets? Undeniably, privacy is vital, but can we entirely sidestep accidental information exposure in our highly linked society?

When it comes to storing wallet recovery seeds or private keys, should we not investigate more sophisticated solutions? Could hardware or multisignature wallets bring a safer yet more convenient way of managing our keys? In this age of relentless tech advancement, shouldnt we keep our alternatives open?

[suzanne5223]

No, we have seen a user that downloaded from the official Electrum website years ago but was still scammed by the pop-up Electrum wallet notification. I think a strategy used by online theft to steal from BTC and download from the Electrum official website is not enough either if the wallet is not verified.

I just found out about this news because it's impossible for wallet software from the official web to pop up (notifications) which are dangerous for its users, I'm also an Electrum user for a long time but I've never experienced that and my Electrum wallet has remained safe until now. Maybe you should check your pc/desktop and scan for viruses regularly because there are third party influences that take advantage of notifications on electrum to steal your assets.

I am not talking about something that happen to me but I am talking about something which was once repeated on this forum years ago.
Having said that, I don't know if you notice that some years ago electrum wallet have a setting that allow the automatic upload of application clients whenever a new version is released and that doesn't mean the wallet is not downloaded from the official website. I think the advantage of the auto-update is what the hacker used then to steal the Electrum wallet users then.

[Eternad]

You should do these to secure your wallet :
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You are plagiarizing someone content from online article. I remember reading this before when I’m researching about wallet security tips. You should always post the reference whenever you are copying word by word on the internet.

On this case, You copy your post on this article: https://www.bitcoinsensus.com/10-essential-steps-to-safeguard-your-crypto-wallet-from-hacks-and-cyber-attacks/, You remove some of the tips but the chronological order of steps is same.

[Ale88]

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

First of all, never leave your funds on any exchange because if for any reason they decide to froze your account or they simply scam everybody and run the funds, you lost everything forever. Regarding the wallets I prefer hardware wallets because they are completely disconnected from internet, even if your computer is compromised they can't access the wallet. I wouldn't use Electrum, and if you do be very careful, especially make sure you download it from the legit website.

[leonair]

It has been some months that I have been in this forum, I have started making arrangements for transacting with Bitcoin in the aspect of buying and storing. I don't have much knowledge of wallet to the extent of knowing a preferable wallet to use for storing my Bitcoin, right now I know that Bitcoin is a valuable asset from my understanding but other people doesn't accept the fact that it is really an asset, so I want to know a good wallet to use for my Bitcoin because I notice that some wallet my friends recommend to me are all exchange kind of wallet and I was told that it's not proper to use an exchange wallet for storing or saving of Bitcoin for a long time. I wish to have more recommendation or articles to read concerning wallets and it's security values but during my research I was recommended to use electrum wallet but I was confused if electrum wallet is an exchange or a custodial wallet, therefore i need a good direction, clarification and update of suitable wallet from senior colleagues.

First of all, never leave your funds on any exchange because if for any reason they decide to froze your account or they simply scam everybody and run the funds, you lost everything forever. Regarding the wallets I prefer hardware wallets because they are completely disconnected from internet, even if your computer is compromised they can't access the wallet. I wouldn't use Electrum, and if you do be very careful, especially make sure you download it from the legit website.

One thing to always keep in mind for holding bitcoins is NOT YOUR KEY NOT YOUR BITCOINS. Exchange is a centralized platform.  So depositing Bitcoin there puts it under someone else's control.  So any time the account is frozen or suspended, the deposited bitcoins will be lost. Because of this, we should never hold bitcoins on centralized exchangers .  A non-custdial wallet should be used to hold bitcoins where the bitcoins are fully under our self control. Hardware wallets can also be a good choice because  it is also a secure wallet

[Mr.suevie]

A non-custodial wallet is more secure for holding our cryptos, and we have the ability to improve the security of our wallets from the public. I'm always cautious when it pertains to my wallets, not revealing basic facts or concerns.

Non-custodial wallet doesn't mean an already secured wallet, security will depend from all the users' activities while using the device. If your device is unsecured your wallet will be unsecured too. Using "non-custodial" wallet also doesn't mean it's secured especially using a closed-sourced one example of what happened to atomic wallet.
I will still recommended using an open-sourced wallet like electrum, much better using on an air-gapped device.

Well said brother, because I aslo tried explaining this particular issue to a friend who is here on the forum as he carelessly misplaced the paper to which he wrote his seed phrase on and was desperately angry saying it was stolen but I just told him it's all his fault because securing your wallet is a sole responsibility of you and you alone so you can be using a non custodial wallet and still let's lose the security to the wallet.

[Casdinyard]

The biggest and most effective way for you to secure your wallet is a two step wallet. It basically involves using another wallet, preferably a hot one (I mean one that could be is connected to the internet most of the time and not a wallet that is sexually appealing lol) and then using a cold wallet where you'd put all your funds, make sure that the cold wallet is shut off from the internet, which could easily be done by buying those trezor wallets or ledger wallets, or even something as easy as downloading electrum and keeping it secured. Then, only ever use exact amounts when you're buying and paying for stuff on the internet, and send it to your hot wallet. Use said hot wallet for purchases, and that should keep you safe from hackers and scrapers on the cryptocurrency industry.

[PX-Z]

Well said brother, because I aslo tried explaining this particular issue to a friend who is here on the forum as he carelessly misplaced the paper to which he wrote his seed phrase on and was desperately angry saying it was stolen but I just told him it's all his fault because securing your wallet is a sole responsibility of you and you alone so you can be using a non custodial wallet and still let's lose the security to the wallet.

Why he just wrote in a single paper then, if you're going to make a backup at least make two of them and put it on a safe place, maybe where your personal documents are too since you need to keep safe too or on a place where you think is much safer.