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Author Topic: Learn from Bitcoin  (Read 408 times)
Juicyhome
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July 03, 2024, 11:28:16 AM
 #21

Well the best way to key your bitcoin wallet safe is to keep the recovery key or private key save from any other person including your dear ones such as close friends and family. It is not everything that people around you must know about you especially as it deals with your asset. We've seen cases where brothers go into battlegrounds simply because of inheritance that has been kept for them to take.
Some humans are selfish by nature and they have this thing within them that motivate or instigate them to go that route so, the best way to avoid somethings is by keeping them private to yourself which includes your seed phrase.
Your private key is so important and delicate to the level that you are advised not to upload it anywhere online in any cloud storage. Instead you should have it stored offline and keep it up to yourself. There are a few ways you can store your private key offline which is through hardware written on paper, through custodial and noncustodial cold wallets.
The custodial wallets are when you allow your exchange company to store the keys for you whereas in noncustodial you do that yourself. The danger in allowing other company's store it for you is once their server or database is hacked into, your asset is probably gone forever but custodial wallets can be of advantage to small and new bitcoin users who have meager resources on their wallet.
On the flip side, the noncustodial wallet is an example of Ledger Nano X which you make use of yourself to take care of your key. Whichever one you do have their advantages of disadvantages but the best is to always have your private key secured in an offline physical storage where you can always access in years time.

Thank you once again, this means alot to me. In 2019 when ETH was introduced to me, i bought it and saved it on my trust wallet, I saved the 12 pharse passwords but I couldn't find it till date, then I was in service. I thought I saved it on my email but is not there. That's how I lost my coin Gill date.  I opened new one and I saved the it on my email and also wrote it down, I hope is adviceable to save it on my email? I don't want to lose anything amount of coin in my wallet again.  That ETH pain me die, by now e Don increase but I no get access to it. Because of my carelessness
Mr.suevie
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July 03, 2024, 05:25:18 PM
 #22

Check the security level of your passwords and make amendment if needed.
Op thanks for this info God bless you, also I will like to bring to others notice that as you're trying to create a secure password don't forget it should be something you can remember because if you lost access to it then all your security measures is wasted.


Seeting a complex password is important after which you should write it down and ensure you've kept it in a secured position so you don't end up forgetting it. Routinely, you could set out a range of time you would normally change your password most expecially if you have the slight thought that there is a possiblity that someone has access to it but while you've done that its necessary to discard the old password that has been written down and the new one written down.
This is good but not all time efficient, changing password routinely is not an efficient way of staying safe, it's better to avoid anything that will make your passwords compromise.

Though using complex password is important but we should always use password we can remember except on sensitive information example is our bitcoin seed phrase/private key which we ought to keep offline but we can't be doing this for every password we create just imagine having separate complex password for every platform it's required for?
It will be too hectic and this will make you access where you ought to safe sensitive information password too often.

You're right changing password routinely is not good sometimes because at some point you might get confused you won't know the specific password you use. Actually I only have one specific password I use in all platform, I don't use multiple password because sometimes the reason why most people easily forget their password is because they use different password in different account. I still wonder why most people always use different password in different account, what happened if you use only one specific password in all the account? making our password to look more complex sometimes is not good because you can easily forget them, writing it in a sheet of paper is still very risky More especially if you have a wife or children at home because they can trash it at anytime thinking that is just an ordinary paper, that is why is good to use a simple password you know you can easily remember not the Way that will require jotting down in a sheet of paper.
Well the human brain fit sometimes deceive you sef especially when you get plenty password so it's better to stick to a similar pattern when putting up passwords to your accounts although some persons feel its not that safe because they assume if one password is hacked the hacker might just as well get to the others but in reality there is absolutely slim chance of that happening and if you are doubtful then the use of password manager or even an email authenticator (2FA) would atleast give that certainty.
Pressurizedem
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July 07, 2024, 12:00:01 AM
 #23

The reasons we dey here na to learn about bitcoin,the things we don't know,and how we can improve ourselves in a way that will put us in an advantageous position towards life.We know the world today dey hard to fit reach your goal,but as long as we don dey get little knowledge about bitcoin,we no dey fear the future,because we know say Bitcoin go deliver us.
Dem don talk many times say dem go barn bitcoin,but e no go fit easy because many people dey depend onam to carry solve their many problems,and we pray say e continue to dey dey for us.
GIF-JOBS
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October 07, 2024, 02:13:06 PM
 #24

The reasons we dey here na to learn about bitcoin,the things we don't know,and how we can improve ourselves in a way that will put us in an advantageous position towards life.We know the world today dey hard to fit reach your goal,but as long as we don dey get little knowledge about bitcoin,we no dey fear the future,because we know say Bitcoin go deliver us.
Dem don talk many times say dem go barn bitcoin,but e no go fit easy because many people dey depend onam to carry solve their many problems,and we pray say e continue to dey dey for us.
Bitcoin is a currency that will be a new financial system that will revolutionize our way of life. There are many people who still don't know about Bitcoin Or understand very little about Bitcoin, if they don't acquire knowledge about Bitcoin by now, they will fall behind in the future, because in the future Bitcoin will come to a stage where everyone will use Bitcoin and do transactions through Bitcoin. It is possible to achieve financial freedom and security through Bitcoin. So you need to understand every aspect of Bitcoin very well. Let's all go forward together and increase our knowledge about Bitcoin!
Zanab247
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October 07, 2024, 03:22:29 PM
 #25

Quote from: Pressurizedem
The reasons we dey here na to learn about bitcoin,the things we don't know,and how we can improve ourselves in a way that will put us in an advantageous position towards life.We know the world today dey hard to fit reach your goal,but as long as we don dey get little knowledge about bitcoin,we no dey fear the future,because we know say Bitcoin go deliver us.
Dem don talk many times say dem go barn bitcoin,but e no go fit easy because many people dey depend onam to carry solve their many problems,and we pray say e continue to dey dey for us.
There are some people who are not here to learn about d security of BTC, than to focus on how to invest and wait for d bull run to come before dey can sell to make profits, which it has caused many people to loss their BTC because dey did not know d value of d seeds phrase. Once u know how to secure your BTC in a safe wallet, it will make u not to fear than to be bold to hodl your BTC for long years and u will not regret for hodling it for so long because BTC will continue to be breaking history to give other people courage to learn more from BTC.

BTC and crypto has been banned in our country Nigeria by  CBN governor, and u cannot involve BTC and crypto in any transactions in Nigeria but there are some other way people are using p2p to trade their BTC and crypto to solve any financial situation in d country and it is well secure.

Princess Leah
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October 10, 2024, 06:01:52 PM
Merited by Marvelockg (2)
 #26

Quote from: Pressurizedem
The reasons we dey here na to learn about bitcoin,the things we don't know,and how we can improve ourselves in a way that will put us in an advantageous position towards life.We know the world today dey hard to fit reach your goal,but as long as we don dey get little knowledge about bitcoin,we no dey fear the future,because we know say Bitcoin go deliver us.
Dem don talk many times say dem go barn bitcoin,but e no go fit easy because many people dey depend onam to carry solve their many problems,and we pray say e continue to dey dey for us.
There are some people who are not here to learn about d security of BTC, than to focus on how to invest and wait for d bull run to come before dey can sell to make profits, which it has caused many people to loss their BTC because dey did not know d value of d seeds phrase. Once u know how to secure your BTC in a safe wallet, it will make u not to fear than to be bold to hodl your BTC for long years and u will not regret for hodling it for so long because BTC will continue to be breaking history to give other people courage to learn more from BTC.

BTC and crypto has been banned in our country Nigeria by  CBN governor, and u cannot involve BTC and crypto in any transactions in Nigeria but there are some other way people are using p2p to trade their BTC and crypto to solve any financial situation in d country and it is well secure.
Those people are making a big mistake if all they're involving themselves in the Cryptocurrency space is just to learn about Bitcoin and how to benefit from it financially, making money is important but securing it from hackers and scammers is also very important as well therefore bring wealthy doesn't end in making money only but safeguarding the money one has made, protecting it from being stolen by others.

 Bitcoin is a digital asset therefore it would  need protection from online theives and fortunately the OP has passed a very good information on how to protect our digital assets by making sure our security being the password is very strong enough to keep hackers aways from penetrating into it, therefore it's in the interest of everyone that's yet to know about the advantage of using upper-case, lower-case letters, numbers and symbols to protect their wallets to learn and implement what they've learnt, immediately if they're yet to do that.
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