Seeking Real-Life Experiences on Bitcoin Security Measures

[348Judah]

How can one stay the safest while using Bitcoin?
I mean, do you use multisig wallets, hardware wallets, or something more advanced?

Before choosing for which wallet to use or not, we have to understand that there are different kinds of wallet in cryptocurrency and anyone we may choose should depend on what we have acheived from knowing about the wallet, we have to start by knowing their categories, types and uses or functions as some may want to call it, if many of us had maintained high level of security, maybe some wouldn't have been a victim.

[nelson4lov]

Some members have already said it but I'm still going to say it to assert importance. If you're going to store a significant amount of crypto (any amount you won't be happy to lose), then get a hardware wallet.

Next thing you should (and you should do it all the time) is never let anyone know that you own bitcoin or the fact that your bitcoins are stored in a hardware wallet. If you do, you make yourself a target and the hardware wast that is referred as the safest wallet won't be safe anymore.

[JiiBs]

Recently, besides phishing attacks, scammers are probably trying to come up with new types of scams, or perhaps they have already developed new methods. This makes security even more important than ever.

How can one stay the safest while using Bitcoin?
I mean, do you use multisig wallets, hardware wallets, or something more advanced?

There are always schemes and these schemes get more advanced by the day. The more you try to evade or evade the schemes used by Scammers, the more they try to make it even better and better.

Multisig, hardware wallets and whatever you’ve got for security is only as secure as you make it. It all comes down to how secure and private you keep your seeds to avoid hacks.

Also, it’s always a good idea to avoid investment platforms. Platforms that require you to deposit Bitcoins to earn on them after a while, most of them turns out to be scams. Just typical schemes.

[tabas]

How can one stay the safest while using Bitcoin?
I mean, do you use multisig wallets, hardware wallets, or something more advanced?

One best practice is to use wallets that are verified from the official websites if you're going to go with desktop wallets. But for me, I've been using hardware wallets and that had kept me safe for years. Also being a responsible user when you browse to the web is also giving you extra added security. Being aware of phishing and random links, you don't click them and even in the emails that we receive, if they're a typical spam scam, ignore and block them. A simple action but will save you a lot of headache.

[OcTradism]

For long-term storage, use a hardware wallet or keep your coins in an offline wallet. There are many topics that explain how to properly set up one and how to keep it safe.
For day-to-day usage, better use a hardware wallet.

Cold storage is best but you must choose open-source hardware wallets for your cold storage.
[LIST] Open Source Hardware Wallets
[GUIDE] How to buy a Hardware Wallet the right way
For example with Electrum wallet.
Creating a Cold Storage wallet in Electrum.
The paranoid user's security guide for using Electrum safely.

But if you can’t afford to buy one, then just use one of the reputable wallet apps and keep on it only the coins you intend to spend. The most important thing is to back up your wallet seed and keep it secure. If you lose your wallet seed, you lose access to your coins. There are also many topics that explain how to do this.

I agree with you as some people want to have cold storage but can not afford to buy a new hardware wallet, then they made bad practice by finding used hardware wallets for cheaper costs. They can end with buying hardware wallets with backdoors that steal their coins after they fund those wallets.

If it is not feasible with them, they can have another easy option, using a hot wallet with open source, non custodial and trustworthy wallets like Electrum wallet, Bitcoin Core and more. It's open source and free.
https://learnmeabitcoin.com/beginners/wallets/#best-wallets
https://bitcoin.org/en/choose-your-wallet?step=5

[Text]

I’ve been in the Bitcoin space for a while now and one thing I’ve learned is that security isn’t about one single tool, it’s about layering habits and protections. Use hardware wallets, consider multisig if your situation calls for it and above all, be disciplined with how you handle keys and communication. And now I treat every unexpected email, DM or link as a potential scam. This habit will save me more than any fancy tech setup.

[Bitcoin Smith]

Scams and hacks are technically two different things. You are talking about how to avoid hacks means how to keep your funds secured.

And if that you are asking there are multiple layers of secuirty to your crypto wallet, and thumb rule is any device ever connected to internet can be considered as compromised so if you want absolute security then go for air gapped device where you can be sure the wallet and seeds created in it will never be exposed to anywhere. But another problem is storing your back up seeds because it important factor to recover your wallet in case if you lost access to the device for multiple reasons and that's where they are making mistake by using online/cloud storage to keep them safe.

[Ndabagi01]

In addition to what others have said above, you should not keep your bitcoin in an exchangel because they're vulnerable to hack. Have more than one wallet and split your funds so that if one of your wallet is compromised, you will not lose all your asset. Beware of dust transaction and freeze it before sending out coins from your wallet.

Exchange should be practically used for the name it is being called with, just for exchange of coins and not for any other purpose. Keeping your funds in one secure wallet is okay but also diversifying them into different assets is also great, only if you don’t trust your method of saving your bitcoin and fear been vulnerable to hack that will make you lose your funds. I believe there are people that don’t really know how to keep their things private and well secured, they don’t even know what to expose and what not to. In such case, having more than one wallet address for savings is good. It will reduce the risk of losing money at all once when an attack happens on any of the wallet.

[Darker45]

I think the basics will do.

Keep your funds and backup cold. Own and control them fully. So, don't let others custody what you have. Don't show-off. Keep your investment private.

Furthermore, practice the basic dos and don'ts in dealing with the online universe. Meaning, don't download something you're not sure of and from somewhere you're not certain to be legit. Don't click on links you aren't expecting or from unofficial communications. Do enough due diligence. Don't believe what you read and hear online. They're all scam unless proven otherwise.

Be extra careful in dealing with anybody online. They're all scammers unless they prove they're not.

[OcTradism]

I think the basics will do.

Keep your funds and backup cold. Own and control them fully. So, don't let others custody what you have. Don't show-off. Keep your investment private.

Furthermore, practice the basic dos and don'ts in dealing with the online universe. Meaning, don't download something you're not sure of and from somewhere you're not certain to be legit. Don't click on links you aren't expecting or from unofficial communications. Do enough due diligence. Don't believe what you read and hear online. They're all scam unless proven otherwise.

Be extra careful in dealing with anybody online. They're all scammers unless they prove they're not.

Some basics for learning and practicing with your Bitcoin wallets and your bitcoins but practically it can be used for altcoin storages too.

Wallet basics.
Bitcoin Security Guide.
Securing your Bitcoin wallet.
Bitcoin security & resources.

DOs and DON'Ts.
Cryptocurrency security checklist.

[Apocollapse]

I think this depends on your real life.

Have you ever got hacked or phished on other social medias/sites/forums? personally I have never had this experience. But, usually I see my friend Facebook and Instagram accounts get hacked, lost all contact in WhatsApp, their mobile banking/e-fiat drained etc.

If you never had this experience, I think you're a person who have a high suspicion and not likely fall to old school scams, which probably if you have Bitcoin, you will be safe.

[lovesmayfamilis]

Why do you need the best ways to protect yourself if there is already one reliable one, which a person who understands what security is can handle? A hardware wallet and accuracy when saving the seed phrase, as well as attention to transactions, protect many. No need to invent something that already works; the wheel has long been invented. All the stories about saving seed phrases on the moon or an uninhabited island with a careless owner will still make the funds disappear into oblivion.

[SquirrelJulietGarden]

Why do you need the best ways to protect yourself if there is already one reliable one, which a person who understands what security is can handle? A hardware wallet and accuracy when saving the seed phrase, as well as attention to transactions, protect many.

Besides wallet creation, backup and recovery, carefulness when broadcasting a transaction or a withdrawal is important and this guide can be helpful practically.
How to lose your Bitcoins with CTRL-C CTRL-V.

If you don't check address and transaction carefully, and make mistakes, your bitcoins can be sent to a wrong address and it gone forever.

No need to invent something that already works; the wheel has long been invented. All the stories about saving seed phrases on the moon or an uninhabited island with a careless owner will still make the funds disappear into oblivion.

Invent something new from what's already used by many people for a long time well is risky. It can be a complicated invention in wallet creation or backup that can cause difficulty in recovery and with Bitcoin, if wallet recovery fails, this means bitcoin will be lost. Cost of invention is really big, and it does not worth to try.

[moneystery]

I am interested in hearing practical advice and lessons based on your real-life experience.

Just stay humble and always maintain your privacy when holding bitcoin, there's no need to share it on social media, as many criminals today easily target you through social media posts. The more you maintain your privacy and the fewer people who know how much bitcoin you hold, the safer you'll be.

Also, only use a non-custodial wallet to hold your bitcoin and always safeguard your private key. Never store it digitally, such as in Google Drive, email, or your phone's gallery, and never share it with anyone. Just remember “not your keys, not your coins”.

[SilverCryptoBullet]

Even if you don’t know much about a wallet you can always ask respected and knowledgeable people about it here and get their best recommendations and not just to choose base on good you have known the wallet but wallet should be used base on trust reputation and how user friendly it is so that the user don’t fall into wrong hand, and the source of the wallet should always be verified.

Asking someone for help is good practice but this human support does not exist all the times you need.

It's more realistic to proactively do your own due diligent research and take advantage of many available helpful tools like the following website that is powerful to check wallets.

https://walletscrutiny.com/

If you have any doubt about any wallet, type its name there and get reviews. Pay your attention on open source, reproducible or not.

[KiaKia]

I don't have more to say since many people on here have almost said it all, but there is a part within newbies and beginners that make them lose their coins and tokens to scammer, that's greed within them.

They are not ready to question everything, if you are a beginner in crypto space the only way to be ahead of scammers is to be suspicious of everything online and go for offline wallets, hardware wallet to be precise.

Question everything, be suspicious of your emails, PMs, strangers and so on, don't let your desire to make more money cover your eye from seeing the truth, this is a brutal space to be, no one cares about you.

[Zigabel]

How can one stay the safest while using Bitcoin?
I mean, do you use multisig wallets, hardware wallets, or something more advanced?

Basically keeping your wallet safe is one safest way I think you can stay safe with your Bitcoin as a Bitcoiner, this includes keeping your wallet details  safe and not clicking on random links that will want to access your wallets, possibly an online wallet or a cold storage for very big Holdings is usually advicesed so you don't have a reason to fall victim or pray of any of the antiques of intruders.

To be more specific I use Multisig wallets for my minor and small Holdings and I use Hardware wallets for my large and bigger Holdings but most importantly I keep their secret codes or phrases very safe away from the reaching of a third party so I don't have a reason to loose assets or get my wallets invaded.

[348Judah]

How can one stay the safest while using Bitcoin?
I mean, do you use multisig wallets, hardware wallets, or something more advanced?

Once the wallet you're considering for use is a non custodial wallet, you're safe, additionally, you also need to learn more safety tips about handling this your wallet such as not revealing your private keys online, having a secret storage for your seed phrase, avoid malicious links, unsolicited sites and downloads, don't flaunt your wallet address to the public, avoid sharing your device with another one and don't fall a victim of any security threat aimed for scam.

[khaled0111]

Once the wallet you're considering for use is a non custodial wallet, you're safe

No, not necessarily. Just because the wallet is self custodial doesn’t mean it’s completely safe (I’m talking about the wallet app/software itself and not about how you use it).
Being self custodial means that you are supposed to be the only one in control of your coins and that’s all. However, a wallet, just like any other app, can be poorly coded and hence have many vulnerabilities that could result in leaking your seed or giving unauthorized access to malicious entities allowing them to steal your coins.
So, being self custodial is a must, imo, but it’s not the only criterion to say that a wallet is safe. You also need to look for other things like being open source, being heavily audited...

[JiiBs]

You have to separate between personal usage for your real life, personal usage for Bitcoin and business usage. If you mix personal usage for your real life and Bitcoin, you will get many emails related to cryptocurrency.

This goes real good to ensure security of your asset. It in a way ensures that in any eventuality, you don’t get to loose it all and have to battle having to start building a portfolio from the bottom. It drains you to do that.

Having your holdings saved away on different wallet and separating them as either savings and expenditure wallet would ensure you don’t go about spending way too much on whatever and you don’t risk having your entire holdings on you or at a place in any specific time.