Bitcoin Security and Privacy

[casey15]

Of recent,  Bitcoin has become a popular form of digital currency, and has changed the way we use money.
Even as Bitcoin becomes more popular, there are still questions about it's security that's being asked by people are are just getting into cryptocurrency. Here are some of the things to do to secure your Bitcoin assests

1. Understand basic Bitcoin Security:
To fully appreciate the significance of security in the world of Bitcoin, it's is important to first know how digital currency works. Bitcoin operates in a decentralized network that is know as a Blockchain, and every transaction that is being carried out in the Blockchain is recorded a d verified by a network of computers. The security of Bitcoin lies in it's algorithm which protect the integrity of the transactions

2. Choosing Your Bitcoin Wallet:
While Bitcoin is not a tangible currency that can be held with your hands, it is very important to choose your wallet wisely. These wallets are software applocatins. Do your research on reputable wallets and make decisions based on the level of security provided

3. Strong Passwords and Two-Factor Authentication:
Always make sure your wallet is protected with a strong password. Do not use your personal information (such as your name, date of birth, nationality) as a form.of password as these are very easy to obtain. Also avoid using common guessable words. A good password should be long and contained alphabets, numbers and symbols together.

4. Keep Your Software Up to Date:
A lot of us neglect software updates and security patches. This is a wrong security practice as these updates and patches helps to improve security over your asset. They help tackle security vulnerabilities that may have been found in the previous version of the software.

5. Beware of Phishing and Scams:
Phishing is a popular tactics that scammers use to defraud people of their assets. Be careful of any link you click. Do your investigation and make sure that links are from trusted parties before clicking on them. Clicking on the wrong link can give scammers access to your wallet, bwnk accounts details and even total control over your device.

6. Store Bitcoin Offline:
Consider storing a portion of your Bitcoin offline in what is known as a "cold wallet." Cold wallets are not connected to the internet, making them more secure and less vulnerable to hackers. Also store your wallet recovery phrase offline in a safe place that only you can access. This is crucial because when those phrase get missing, it is literally impossible to assess your assets from your wallet and it is little lost forever.
 

[Z-tight]

If this topic is for newbies, then maybe you should move it to beginners and help. There is no new info here and it does not deserve a new topic of its own, but it may not be bad to remind newbies, that's why i suggested moving the thread.

To add to what you have said, it is good to add an extra layer of security to your funds, and that can be either by creating a multisig wallet, so more than one signature will be required before your funds can be spent, or you can extend your seed phrase with a passphrase, so that an attacker will require your seed phrase + passphrase before they can steal your coins.

[OcTradism]

Crypto security: Passwords and Authentication
Security and Privacy Encylopedia

Many topics, videos, articles on security and privacy for beginners.

This topic will be moved to Off topic, I believe it will be moved there, but I don't hope so.

[Aanuoluwatofunmi]

Starting from all of these questions you have asked and talked about, there is nothing too hard for someone to learn from and know for the best of their security and privacy, some don't even know or have an idea on the various kinds of crypto wallets that exist not to talk of how they can understand which one to use for their security and privacy, all they know is to make use of a wallet without understanding their difference.

[BitMaxz]

Pretty bad with the current Bitcoin condition privacy is very technical for now for newbies plus the government AML might chase you for money laundering which is why wallets that involve to hide privacy like Samourai or other wallets with the same feature will be chased by the government for now I don't heard customers or users chased by them but it could possible in the future.

The easy way to go far from the government is to buy from P2P exchanges and always put your crypto into cold storage for security reasons to avoid online attacks and adding a passphrase to your offline wallet will bring your wallet deeper and provide more protection. If you need Bitcoin and want to send it to someone then you can do it through Airgap which is safer than using any wallet connected online.

[KingsDen]

Pretty bad with the current Bitcoin condition privacy is very technical for now for newbies plus the government AML might chase you for money laundering which is why wallets that involve to hide privacy like Samourai or other wallets with the same feature will be chased by the government for now I don't heard customers or users chased by them but it could possible in the future.

I said something of this nature in 2022, that in the future bitcoin will be used in a more centralized way than in a decentralized way. This is because the government is fighting decentralization and privacy and in the other hand, individuals do not want to take the stress and inconveniences of learning to be private.

The easy way to go far from the government is to buy from P2P exchanges

In my country, the government is busy delisting naira pair in all exchanges. Making it difficult for people to interact between cryptocurrency and their local currency.