Don't trust your old wallet of when u had no Crypto knowledge

[Shishir99]

SNIP

You pointed out an important thing. I remember having a Bitcoin core wallet in my old device. I wasn't able to synchronize it back then due to low RAM and lags. So, I don't even remember if I created a wallet or not, I didn't know if I could import into another wallet or not. I remember using Trust wallet for a long time. I still have access to that wallet. But, I don't know where is my seed phrases are.

I didn't think about possible issues. What will happen if I lose my device somewhere. This is a good reminder for people who have been using their old wallet for a while but they don't remember the seed phrases anymore.

[Bushdark]

Snipe

I get your point OP and it's a good one
However, you're mixing things up settings up a password is  general for wallets but using a password for wallet recovery  after a long period of time probably on a new device  or reinstall of wallet software is only limited to Exchange wallets as youonly need your sign in id and your registration password to get things running again.
Non custodial wallets only use secret seeds for retrievals but you can setup a login password to always enter your account each time you feel like accessing it to prevent  someone from accessing your wallet through your phone without  permission.

Sometimes, it is good for newbies to try and understand the things they intend to explain because this alone could cause contradiction and may trigger some kind of confusion to the readers and those that want to contribute. It is good for us to know what we are doing and not try to confuse other. Op need to understand more about wallet and how the cryptocurrency market do it things. This would help him in a long way because it will broaden his faculty to give a well detailed explanation without any problem.

[promise444c5]

Op need to understand more about wallet and how the cryptocurrency market do it things. This would help him in a long way because it will broaden his faculty to give a well detailed explanation without any problem.

OP is still a newbie and we shouldn't  expect something that much from him, he did try from his post and he only need some little corrections to understand better.

[DubemIfedigbo001]

Definitely, I remember I had some wallets I used for many airdrop chasing in 2020, created all with trust wallet, which most of the tokens didn't even make it to being listed on exchanges. funny though, I had them connected to particular platforms launching those airdrops, which gives them the power to manipulate your wallet at will. Knowing that some projects are scams targeted at harvesting the content of ignorant people's wallets at a later time, I simply ignored these wallets and went for a more decentralized Etherum wallet for my holdings.

As regards my seed phrases, I do not like much drama and I took my wallet security to my own next level. I run encryption of the seed phrases myself with a secret key known to only me, so the risks of having my seed phrases intercepted while being stored offline is what I don't ever wish to deal with, so what I now store offline is the encryption of my seed phrases and the secret key and the way it is written is another mystery which only me can unravel, so it is totally useless for the person that might even come across it. If for any reason I need to import it to any device, I write the little Api and run a server to decrypt it in a clean computer, decrypt it to a file, use it for the purpose, delete and reformat the computer.

[Catenaccio]

Definitely, I remember I had some wallets I used for many airdrop chasing in 2020, created all with trust wallet, which most of the tokens didn't even make it to being listed on exchanges.

From 2020 to 2023, you needed 3 years in cryptocurrency market to join Bitcointalk. It's a long time.

funny though, I had them connected to particular platforms launching those airdrops, which gives them the power to manipulate your wallet at will.

Revoke your smart contract approvals when you no longer to need them. A safest way is to use a new wallet as suggested but revoke smart contract access is not a bad practice.

How to Revoke Token Approval
https://etherscan.io/tokenapprovalchecker
https://revoke.cash/
https://app.unrekt.net/

[Btcdeybodi]

Definitely, using the old address that was used as a beginner and times when you had no much security knowledge and awareness of your coin is very important because the people that were guiding you those days might have your seed phrases thereby can access your wallet anytime they wish to, so changing one's wallet address at a time when you are fully aware of how everything works and the need for keeping your seed phrases secret and private is very vital.

[KiaKia]

You must have committed every possible mistakes with your old crypto wallet, it happens 99% of the time with newbies, I was a big airdrop hunter when I get into crypto, I don't have any money to invest in Bitcoin and crypto airdrop looked like the only way to start something, and believe me, I used my old wallet in everything I could find online, some websites that I am used to are no more working today, and I've claimed so many dollars from them, I don't even know what someone could do that can drain their wallet at the time.

So what could make me to go back and start using such crypto wallet again? Isn't that the most stupid thing to ever do to yourself? It's very likely that your funds will be moved out in a matter of days, because somehow you must have leaked your recovery seed without you even knowing it.

[AVE5]

SNIP

You pointed out an important thing. I remember having a Bitcoin core wallet in my old device. I wasn't able to synchronize it back then due to low RAM and lags. So, I don't even remember if I created a wallet or not, I didn't know if I could import into another wallet or not. I remember using Trust wallet for a long time. I still have access to that wallet. But, I don't know where is my seed phrases are.

I didn't think about possible issues. What will happen if I lose my device somewhere. This is a good reminder for people who have been using their old wallet for a while but they don't remember the seed phrases anymore.

Yeah kind of that. It is also not just about if you have misplaced your seed phrases at those times and yet you still uses the wallet. We should also consider the fact during our beginnings we never took the seed phrases keys so private that no one was supposed to know about it instead we just kept them careless like the novels which everyone could just pick and read without realizing the state of risk would come of it. Due to your lack of knowledge and indisciplined, someone would just copy them and still leave it with you and to yourself you feel safe with it that as long you could always find it to wherever you keeps it then the wallet would always be safe for you to be used. Oh damn lack of knowledge is indeed living a blackout.

[Shishir99]

Yeah kind of that. It is also not just about if you have misplaced your seed phrases at those times and yet you still uses the wallet. We should also consider the fact during our beginnings we never took the seed phrases keys so private that no one was supposed to know about it instead we just kept them careless like the novels which everyone could just pick and read without realizing the state of risk would come of it. Due to your lack of knowledge and indisciplined, someone would just copy them and still leave it with you and to yourself you feel safe with it that as long you could always find it to wherever you keeps it then the wallet would always be safe for you to be used. Oh damn lack of knowledge is indeed living a blackout.

Crypto newbies do not understand what is seed phrases are for and what is the private key. Most of the newbies think it's like creating an account on an online platform with an email and password. If they forget the password, what's the problem? They will use forgot password feature and recover their wallet. That's how exchanges work! But, they do not understand that Non-custodial wallets do not work like this.

I have used centralized exchanges for a long time as a wallet before I understand the importance of non-custodial wallet. So, all we need is awarness so everyone understand why they should backup their private key and seed phrases.

[Rockstarguy]

I brought this up here because lot of individuals has long time ago installed the crytop wallets to their devices even before they are embracing the crypto sphere, they had then loose guarded their private phrases but due to the fact they could remember the wallets passwords and have access to the wallet, they feels so safe in using the same wallet at once they have embraced the crypto industry.
Having your wallets passwords in gaining access to your wallet is the ultimate of ownership of your wallet but your Private keys phrases matters because you one can who is knowledgeable about those private phrases has the access command to retrieve your wallet to themselves anytime any day.

Thank you so much for this important advice, as a beginner we might have done many mistakes relating to security of our wallet, it is important we need to take note of this. Some people at the the early time of knowing cryptocurrency some persons might have helped in creating a wallet for them, it is important such wallet needs not to be functioning for security purpose.  Creation of wallet should be personal and no third party.

Security of wallet is an important aspect of bitcoin that beginners always take for granted by not trying to get more information about it to make sure that it is handled in a proper way that other people won't have access to it. Wallets are what investors don't need to joke with because with a slight information of wallet details that are supposed to be private it is possible for you to lose all your money in the wallet.   This is an important topic that investors needs to look into because their was a time thst wallet information was not handled with care.

[AakZaki]

Crypto newbies do not understand what is seed phrases are for and what is the private key. Most of the newbies think it's like creating an account on an online platform with an email and password. If they forget the password, what's the problem? They will use forgot password feature and recover their wallet. That's how exchanges work! But, they do not understand that Non-custodial wallets do not work like this.

I have used centralized exchanges for a long time as a wallet before I understand the importance of non-custodial wallet. So, all we need is awarness so everyone understand why they should backup their private key and seed phrases.

It's understandable when beginners make these mistakes because they don't understand how crypto works. I also made a lot of mistakes in the past about how to use a wallet and how to secure it. As time went by I started to learn and find out what needed to be done to make a wallet and secure it. as a beginner you must have the desire to learn independently in order to understand what you are doing.

[Mpamaegbu]

Using a receipt address from centralized exchange when you didn't login into the exchange, that's called ignorance because any exchange can update the customers' receipt address without notify.

You're right. People should not always rely on a previous exchange address they last used a long time ago without checking with the exchange before depositing into that exchange. Sometimes, exchange updates can also include wallet change. For me, a month is the limit. I must crosscheck before transferring once it exceeds a month.

Asking someone else to create a wallet for you, that's called stupid.

Newbies do that mistake and I don't blame them that much because they always appear lost. Those I blame are the ones who take advantage of them. I've opened several accounts for those I mentor but I made sure not to peep at their passphrases while they copied them. I distanced myself and allow them do that alone. Thereafter, I ask them if they saw what I did while they were writing their passphrases down and make them get the consciousness of not allowing anyone else see their passphrases. It should be that simple.

[Shishir99]

It's understandable when beginners make these mistakes because they don't understand how crypto works. I also made a lot of mistakes in the past about how to use a wallet and how to secure it. As time went by I started to learn and find out what needed to be done to make a wallet and secure it. as a beginner you must have the desire to learn independently in order to understand what you are doing.

and what about people who started to send private messages to other members to know these things? Even though the person helps a newbie, I believe it is not correct to send a private message to others to learn such sensitive things. It is advised to discuss everything in private so that others cannot misguide newbies. I guess a lot of us heard about crypto exchange scams.

Some bad people try to misguide newbies so they can get some advantage to scam them. They suggest they open an account on a phishing website and then steal their cryptos. So, newbies should discuss everything in public so the percentage of making mistakes can be reduced.

[Ever-young]

I get your point OP and it's a good one
However, you're mixing things up settings up a password is  general for wallets but using a password for wallet recovery  after a long period of time probably on a new device  or reinstall of wallet software is only limited to Exchange wallets as youonly need your sign in id and your registration password to get things running again.
Non custodial wallets only use secret seeds for retrievals but you can setup a login password to always enter your account each time you feel like accessing it to prevent  someone from accessing your wallet through your phone without  permission.

There are wallets which also makes use of pass phrase which need user to combine both the phrase and the pass phrase in other to be able to gain full access to the wallet, as for exchange those are just account which are linked to the users email or what ever details that was used to create the account they can always login to it from any part of the world just having a network connection and the right login details which if they don’t have it they can always request for change of password.

With wallet phrase or private key you can still recover your wallet but some wallet I guess made the passkey password compulsory needed in other to gain full access to it especially on wallet that requires them.

[Mrbluntzy]

If there is anything I am more conscious about in the crypt currency space, then it is my asset security and protection. I don't joke with my wallet information, if by any carelessness my wallet information is exposed or I feel insecure with my wallet safety, I will create a new wallet and move my asset from the exposed wallet information.

[Adbitco]

What really happened is that when someone is teaching you or is making wallet for you you need to be very careful and mindful or watchful to know how he is sharing you seed phrase although you made a very good suggestion but sometimes even though you create the wallet yourself and still not careful about it same thing could likely happened to you without knowing where it is coming from. Wallet creation requires utmost privacy because if you don't guide yourself very well then your investment is for someone else since that person won't know what you passed through to have accumulate those bitcoin they easily empty your wallets, the best is to have a hardware wallet after gaining the knowledge that is required over the period of time.

[AakZaki]

and what about people who started to send private messages to other members to know these things? Even though the person helps a newbie, I believe it is not correct to send a private message to others to learn such sensitive things. It is advised to discuss everything in private so that others cannot misguide newbies. I guess a lot of us heard about crypto exchange scams.

Some bad people try to misguide newbies so they can get some advantage to scam them. They suggest they open an account on a phishing website and then steal their cryptos. So, newbies should discuss everything in public so the percentage of making mistakes can be reduced.

Discussing everything in the general chat is better because beginners will only accept the advice given by people in the chat. and this is also an education for beginners that no one will teach them they volunteer and send messages as if they are someone who really cares. in the end you will only be sent a phishing link which is a trap for beginners to lose all their assets and commit fraud and the like. Beginners should be more alert to someone who suddenly sends any message. all help can be obtained easily without having to send a private message.

[Natalim]

We can't afford to just waste our hard-earned money on storing our coins in an old wallet believing that it was already compromised. Therefore, we need to create a new one for security assurance, and at least, we are confident that nobody knows the keys/password. It is very important that we have to be more cautious when storing our keys and one big factor is to know how secure is the wallet we use and if we see any suspicious activities, it only means that there is something happening and already accessed by other people. And much more careful when using an old exchange wallet even if that was just for trading.

[Alpha Marine]

Some bad people try to misguide newbies so they can get some advantage to scam them. They suggest they open an account on a phishing website and then steal their cryptos. So, newbies should discuss everything in public so the percentage of making mistakes can be reduced.

I agree with this. Even though in public they will get different opinions, people won't be able to deceive them into scamming them because others will see and point out that it's a scam.
This is a reason why newbies should be ready to read and research. Be it in private or public, when you hear something new try to read up on it and get a better understanding before deciding on the matter. Verify and ask questions from 2 other people to be certain.

I believe asking questions publicly is good because it can also benefit someone else. A lot of newbies have used their addresses for airdrops and clicked on different links and now they still use those same wallets and addresses to keep their coins. If something like this was discussed privately, I don't think they'd know that it's not safe.

[tech30338]

To the rest of us in the forum, I am to let you know that if you have created a crytop wallets before probably during your ignorant eras such as when you never had the security knowledges of Bitcoin and your wallet, which you may have in anyway exposed your private and security phrases to others due to your previous lack of crypto and wallets understanding, you are advised to dump the wallet and creat a new wallet with a newly generated private and security phrases which you can now keep carefully and privately to your best of safe mode.
I brought this up here because lot of individuals has long time ago installed the crytop wallets to their devices even before they are embracing the crypto sphere, they had then loose guarded their private phrases but due to the fact they could remember the wallets passwords and have access to the wallet, they feels so safe in using the same wallet at once they have embraced the crypto industry.
Having your wallets passwords in gaining access to your wallet is the ultimate of ownership of your wallet but your Private keys phrases matters because you one can who is knowledgeable about those private phrases has the access command to retrieve your wallet to themselves anytime any day.
So, be concious about your wallets privacies.
Meanwhile some persons may have been putting you through the thoughts about Bitcoin whom may have helped you in creating a crytop wallets during a learning era about the coins which probably they may have got access to your private phrases without your knowledge then. My advice at a case like this is that at your readiness of Investing your funds in the crytop, do not use the wallet, you are free of charge to create a new wallet with a generated private phrase keys which can personally be to yourself all alone but depending on how careful you could be about your privacies.

Guidelines or even a walkthrough are always shows when you are creating a new wallet, you have already know something about it, simply because you have read or see it, in the web, and keeping your wallet safe, are always written even on blogs or videos of a blogger, maybe its safe to say that you should not share your private keys with other people, because this are most cases you are lured into a website where they tricked you to input your seed phrase without knowing its not a legit website.