Security Should Be Your First Target as a Newbie

[Ojima-ojo]

Security of your Bitcoin investment is one of the biggest challenges that most newbies face, to the point that some of the newbies who have fallen victim to the various security attacks be it on personal Bitcoin wallet attacks, where newbies get exposed to phishing that steals security keys and thereafter taken control of the wallet, or exchange hacking that leads to lost of wallet balance on the exchange, etc.


This scenario has a large-scale negative impact on the overall motivation of newbies in the industry, but as a member of Bitcointalk we have the privilege to access good information that helps shape our understanding and approach to security safety, even though we still have a few security challenges but it has been reduced to the barest minimum if only you as a newbie can play your own role to safe guide your investment.


Let me share with you Newbies a few elementary security guides that helped me through the journey

The first tip is that your first primary assessment should be to build knowledge on the best security method to use with your wallet.
1: type of wallet to use: make sure you make the best choice when it comes to your choice of wallet to
     store your Bitcoin.


2: level of security of your wallet, what is the level of the wallet security and how well does the wallet allow you to add another level of security of wallet e.g. multig 2fa, etc?


3: avoidance of greed tendency e.g never being involved in anything such as investment unless just to buy Bitcoin and hold, because doing so will allow you to always be 8n control of your wallet, since most other investments may require you to transfer your Bitcoin to third-party platforms that may or will become scam or victim of security crisis like exchange hacks.


The above tips may look theoretical and lack technical analysis,  but they help a lot and I advise you to apply them as a newbie in other to have a good start in your Bitcoin journey.

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[Findingnemo]

Not just newbies, it should be the priority for everyone.

I would summarize this into further get a wallet that can never be attacked by malware but newbies can ask if is this possible.

Yes, it is and called air-gapped wallet aka cold storage which means the wallet is installed in a device that will never get connected to the internet so there is no possibility of exposing your recovery seeds via that machine.

Here is my post about how to do it with electrum

Download the latest version of Electrum from https://electrum.org/#download and then verify the signatures before installing it.

[GUIDE] How to Safely Download and Verify Electrum

Then copy the downloaded file to your air-gapped device and install it, then restore your wallet with your seeds "Standard Wallet -> I already have a seed".

Then go to  "Wallet -> Info" and get your "Master Public Key"

After this go to your device which is connected to the internet create the "watch-only" wallet (Standard Wallet -> "Use a Master Key)

By this method device will be never connected to the internet so you no need to worry about your seeds being exposed to malware or anything.

[EarnOnVictor]

Well said! The safety of the fund is important since if the fund is lost, the whole thing is pointless. I believe that there are different wallets and platforms with their different offers for security, all should be weighed and used appropriately. I prefer to use smartly combined passwords, email and SMS altogether and I've never been scammed whatsoever. It's also advisable that the gadget of your wallet is not the gadget that receives codes for your account verification.

Even before anything, as part of the measures for safety, the choice of wallet matters so much. The non-custodial wallet with open source is arguably the best, and if one must trade with a centralized exchange, trusting it with little funds is better and all possible security features are advised to be put on.

[Sandra_hakeem]

I've said this countless times already... alot of newbie's should be able to read Thier way through in the forum as that'd only do alot of good than harm...
Secondly, I believe anyone won't just jump into doing something he ain't really conversant with... For that reason, they'll always want to learn through, from the experiences of the gullible ones...
lastly,.. if it's not secured, then it's not worth the time and investment... Bitcoin has proven itself over a decade and more.

Sandra 🧑‍🦰

[Truthlovecoins]

For me, I think the best and most important option should be to know what to secure before even thinking about the noteworthy security protocol to observe in order to keep safe what it is one has discovered.

For Bitcoin or any crypto currency, I have learnt so far how to avoid the hook of visiting phishing sites and ads meant to install spyware on ones device inorder to gain vital data. I still don't know the all of it, but my time here will help me learn more and lead me to one of the main reasons why I joined this forum in the first place, which is to learn about trading crypto and how to make the best profit from it .

[Hatchy]

Not just newbies, it should be the priority for everyone.

Sometimes, I wonder why we push these advice to only the newbies when we know that any one can be a victim of scam.it all falls down to how much efforts you have ensured In securing your funds.ive seen a lot of situations on the forum , when higher ranked members reported to have been victims of scam and asking the forum for help. The best thing is to be updated with some of the latest ways in securing your funds. You can by a hard ware wallet, which stores your funds offline and away from threats. But since the hardware wallet is expensive, just as @Findingnemo had said, you can set up an airgapped device and install electrum or other secured wallets. The airgapped device acts as a cold storage keeping your funds away from the internet.

[Odusko]

Not just newbies, it should be the priority for everyone.

Sometimes, I wonder why we push these advice to only the newbies when we know that any one can be a victim of scam.it all falls down to how much efforts you have ensured In securing your funds.ive seen a lot of situations on the forum , when higher ranked members reported to have been victims of scam and asking the forum for help. The best thing is to be updated with some of the latest ways in securing your funds. You can by a hard ware wallet, which stores your funds offline and away from threats. But since the hardware wallet is expensive, just as @Findingnemo had said, you can set up an airgapped device and install Electrum or other secured wallets. The airgapped device acts as a cold storage keeping your funds away from the internet.

This advice shouldn't be limited to only newbies alone but all other cryptocurrency holders, the need to secure our wallet is of utmost priority for us because what is the essence of investment when you can't secure it, even though we have limitations but then should be at the based level as the ops said, anyway the ok and sound as a reminder since we are already used to this warning through the various discussions as regards to wallet securities.
Taking this as just a reminder and thanks to ops, but then you should not limit the advice to newbies alone unless you have your reasons for doing so.

[Stepstowealth]

Security of your Bitcoin investment is one of the biggest challenges that most newbies face, to the point that some of the newbies who have fallen victim to the various security attacks be it on personal Bitcoin wallet attacks, where newbies get exposed to phishing that steals security keys and thereafter taken control of the wallet, or exchange hacking that leads to lost of wallet balance on the exchange, etc.


This scenario has a large-scale negative impact on the overall motivation of newbies in the industry,

Because I live in a country where the economy is poor and many youths are engaging in scams, I always take security details very important, and it was one thing that I was always concerned about when i first joined this forum. I knew then how important it was, I know how important it still is. If a newbie becomes a victim of loss of bitcoin, it is very discouraging and can make the newbie not want to continue investing in bitcoin because they will feel that bitcoin is not safe to keep.

[Amphenomenon]

Op, This are really helpful to all especially to those just starting their bitcoin journey. Aside all these there is one key security features:
Update your wallet when ever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.

[serjent05]

Op, This are really helpful to all especially to those just starting their bitcoin journey. Aside all these there is one key security features:
Update your wallet when ever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.

Another piece of advice is to verify the wallet update before pressing the update button.  There is already a case where some hackers tampered with the update of software that made many Bitcoin holders lose their holdings.  Like what happened to many Electrum users who got victim to a hacker's fake message of wallet updates where when the user tries to click the update message will be directed to a malicious file.  According to the article: Hackers steal over $22 million via Electrum wallet, the user ends up installing the malicious version of the electrum and ends up getting hacked the next time they logged in.

[bhadz]

Right, and I agree that it's not just for newbies but also for everyone. About the type of wallet, there are still some people who are saying they trust online wallets for keeping their balances. Well, we all know that it's a wrong thing when you're going to use them as your long-term storage of wallets and there's even an article that shown that huge institutions are keeping it the opposite way, the way we know what's right. And that's them that are trusting exchanges to keep their portfolios. Don't be like them if they afford to do that but we just have to do what's right. As the famous phrase we say, "not your keys, not your coins".

[OcTradism]

Newbies must search, read and learn first.

They must do those steps before doing anything like posting, trading, investing, using an account, wallet to store their bitcoin. Hopefully if they search, read, and learn as their first steps, they will find my topic.

Good topics on security and privacy that is renamed to Security and Privacy Encylopedia today.

I can miss some threads but they can find missing threads in Beginners & Help Encyclopedia.

[lovesmayfamilis]

Anyone who starts using the Internet first of all needs to learn how to use it correctly. What do people who buy a new gadget and start their online journey do? The first is entertainment, games, etc. But mostly, it is on such sites that we get a bunch of viruses that remain on devices for a long time, causing some kind of inconvenience. Therefore, if you are going to deal with financial issues, separate the places where you will use the Internet for entertainment from the places where you are going to deal with investments and handle wallets. That is a serious matter. Computer security begins with the understanding that you don’t need to be distracted by bright banners, tempted by calls for easy money, or trust that someone suddenly gives you prizes. Even if you don’t have the money for an air-gapped device, a hardware wallet, or even a quality antivirus, you can safely use your Electrum wallet, provided you are confident in your Internet surfing skills.

[mk4]

There's a reason why I always link security-related sites/articles for my copypasta. People always overlook security because apparently most of them have "secure" devices anyway, even though a lot of them use cracked versions of Windows OS and likes to install pirated software lmao.

* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html

[Hypnosis00]

Security is not a hard thing to do but what we did is we ruin it and let someone hack our keys due to the wrong practice of safekeeping. We usually think that by having those things that you have mentioned OP, we are totally safe which is not as we are still prone to these smart hackers. Honestly, we are all subject to that scenario as we are working online. But there is a way to avoid this (at least) and that is not to click and visit sites that are not known to us or something to say, unsolicited links that redirect us to account login.

[Why2why]

Op, This are really helpful to all especially to those just starting their bitcoin journey. Aside all these there is one key security features:
Update your wallet whenever update is available though this is not just limited to the wallet but other applications on your device to avoid hack and malware attacks.

Another piece of advice is to verify the wallet update before pressing the update button.  There is already a case where some hackers tampered with the update of software that made many Bitcoin holders lose their holdings.  Like what happened to many Electrum users who got victim to a hacker's fake message of wallet updates where when the user tries to click the update message will be directed to a malicious file.  According to the article: Hackers steal over $22 million via Electrum wallet, the user ends up installing the malicious version of the electrum and ends up getting hacked the next time they logged in.

The best possible practice for the update is to be wary of any installed apps,  that ask for a fresh log-in when you already have the old version installed.

[RockBell]

Right, and I agree that it's not just for newbies but also for everyone. About the type of wallet, there are still some people who are saying they trust online wallets for keeping their balances. Well, we all know that it's a wrong thing when you're going to use them as your long-term storage of wallets and there's even an article that shown that huge institutions are keeping it the opposite way, the way we know what's right. And that's them that are trusting exchanges to keep their portfolios. Don't be like them if they afford to do that but we just have to do what's right. As the famous phrase we say, "not your keys, not your coins".

the advice is for everyone and the majority of us here still uses online wallet despite their risk and vulnerability anything connected to the internet is another easy for hackers to bridge security but I think there is a limit to that, and I can bet that 70 percent of us still use online wallets. and we all are aware of the dangers, and the worst to trust is the exchanges are worst they have a lot of much more dangers keeping your funds there. what happened to FTX is enough to learn from, not your keys, not your coin the destiny of your assets should not be left in the hands of an exchange.

[Zigabel]

2: level of security of your wallet, what is the level of the wallet security and how well does the wallet allow you to add another level of security of wallet e.g. multig 2fa, etc?


3: avoidance of greed tendency e.g never being involved in anything such as investment unless just to buy Bitcoin and hold, because doing so will allow you to always be 8n control of your wallet, since most other investments may require you to transfer your Bitcoin to third-party platforms that may or will become scam or victim of security crisis like exchange hacks.


The above tips may look theoretical and lack technical analysis,  but they help a lot and I advise you to apply them as a newbie in other to have a good start in your Bitcoin journey.

Personally I don't recommend any wallet without 2FA, although it doesn't guarantee 100% security but it helps a long way to keep your wallet from easy access if you are vigilant and got a track monitor on your wallet. Clicking on links that says they are giving away BTC in reward and bounty's for certain promotion online should be avoided totally as a vast majority are phishing links and malware with which they get access to your wallet.

I always advise newbies that there's almost nothing as Bitcoin investment outside HOLDING, stop patronizing these scammers who come with such ideas as Bitcoin doesn't give such turn over in such a short period of time, never will you see a legit Bitcoin turnover yielding such huge amounts they promise in very short time especially when it's not a bull run, even Bitcoin trading is not very ideal as some of this scammers come with the idea of trading and making it look very appealing, but I can assure you from experience if you are not the trader do not entrust your portfolio to another to trade for you it's not safe.  HOLDING in a safe wallet still remains the best way to invest in Bitcoin.

[Majestic-milf]

 The importance of security cannot be overemphasized. Let's take an instance of you trying to move to a new place, you will do your research to know how safe and secure that place is right? Well it's the same with anything here on the forum because without ample information on what you're dealing with, you're no less better than a blind man and this leaves you open to attacks.
As a newbie always ensure you make proper research before investing on any cryptocurrencies because you could be moved by the hype and promise of profits some of these digital tokens tend to present and miss out on the dangers especially those interested in altcoins.
 

[KingsDen]

Security Should Be Your First Target as a Newbie

If I was to be a newbie, my first target would have been to learn how to earn bitcoin. By learning how to earn bitcoin I would definitely come across many things. It is only when you have bitcoin or have learnt how to earn it that you begin to find the best way to save your bitcoin. I am not undermining the essence of good security practices, but I am seeing that earning will motivate one to learn how to save well.
I have read a thread that says "knowledge of bitcoin without investment is a waste", I think agree with that.

Newbies must search, read and learn first.

Exactly, newbies need to read, learn, and have the capacity to earn and every other things come in.
Then, when it is about security, newbies should try to use the exchange as an exchange and the personal wallets as wallets. It will be safer this way.