Security Should Be Your First Target as a Newbie

[bangjoe]

But it is quite unfortunate because the average beginner does not realize this, except for those who have been managing assets for a long time, the security for their assets in crypto will also be considered, but new investors in the crypto world are rarely aware of their security, on average, after making crypto purchases they store them on exchanges and that is the beginning of their mistakes as beginners.

Because this is also led by the marketing opinion of the exchanges saying that they are running according to regulations and are safe, that is what causes beginners to entrust their assets to be stored on the exchange (first mistake), I have also experienced it, and after the mt.gox collapse that storing assets on the exchange is not safe.

[Distinctin]

True, I see plenty questions people asking For investment, but often they have no idea of securing their investment.

We have seen already nothing is truly safe as some fiascos lately, such as ledger — it's questionable after ledger recover. Non-custodial wallets? Atomic wallet got hacked. Exchanges? They get hacked all time.

Asking how to make your investments work and become sustainable in the market will still be useless if you are not responsible enough to secure your investments. That should be your first goal and target more than anything. But since its nature for the people to only get learned after they have committed mistakes and losses, then most probably after that, these investors will only tighten the security of their wallet.

Hacking becomes more rampant in the market maybe because of these new investors who lack the knowledge to secure their investments. And the more newbies to rush investing without prior knowledge, expect that hacking and scamming will never be stopped.

[libert19]

expect that hacking and scamming will never be stopped.

Yea, I don't. There are always newbies to prey for, once one batch has learned their lesson there will be another fresh batch of newbies, it's never ending cycle between hackers and users who get hacked.

However, one thing that can be done is, once one has learned their lesson, they can share their lesson with others, so few may be saved from committing same error.

[HelliumZ]

One of the main requirements for Bitcoin for beginners is to ensure the security of the wallet. No matter how much a beginner invests, if the wallet in which he keeps his invested bitcoins gets hacked, all his investment will be lost. Moreover, while updating the wallet, one must keep track of it and also while withdrawing and depositing, one should always be careful not to withdraw or deposit to the wrong address.